DUBAI: Washington and Dubai-based United World Infrastructure (UWI) recently sponsored an event in Dubai, exploring ways in which investors can make a positive impact and achieve both financial and social returns simultaneously.

The forum took place on December 18th at the Capital Club, Dubai International Financial Centre. It was the first in a series entitled, “Emerging Business Ethics: Dubai Forum”, and featured Sean Hinton, CEO of the Economic Development Fund and Director of the Economic Advancement Programme of the Open Society Foundations, as the keynote speaker. The Open Society Foundations (OSF) is an international grant-making network, which operates in more than 100 countries around the world. Its main efforts are directed towards the areas of education and youth, governance and accountability, health, media, information, rights and justice.

Under the theme of impact investing in frontier markets, the event offered attendees insights on the ethos of venture philanthropy, or impact investing, and its potential to generate economic returns while positively addressing global challenges – climate change, poverty, inequality – and the complicated balance between these objectives.

Drawing from his experiences with OSF, Mr. Hinton highlighted the power of venture philanthropy when the best of the private sector and venture capitalism is applied. He asserted that venture philanthropy is based on three central beliefs: the private sector can, and should, apply its best habits to address global social challenges; it is possible to achieve both social and financial returns; and finally, the best way to best advance these goals and solve problems at scale is to enlist more capital.