CDC has now become British International Investment. It is a significant and exciting moment in the history of the company of which I am proud to be CEO. It is the first time in over 70 years we will have made such a change.
British International Investment is a clear identity, which captures who we are and what we do.
Importantly, our new identity clearly defines us as a British institution, funded by the British taxpayer, that is working to bring not just capital but high standards and transparency to our investments. It highlights our critical role as part of the UK Government’s international financing offer. That includes working with the best of British businesses and finance to mobilise capital for economic growth in the markets where we invest.
Our new name also communicates the increased breadth of what we do. That includes our growing role as a major climate investor in emerging economies. Countries in emerging economies remain the most vulnerable to the impact of the climate emergency, and the least equipped to respond to it. Over the next five years, at least 30 per cent of our total new commitments by value will be in climate finance.
However, a new name does not mean that we are cutting ties with our history or our mission. Our name, and our recently launched five-year strategy, build on the development mandate that has been at the heart of our work for over 70 years, and our successful track record of growth over the last decade.
Under our new five-year strategy, we remain committed to investing long-term, patient capital to bring about development in emerging economies. At the core of the strategy are three objectives, to invest in productive, sustainable and inclusive development. These are the central pillars that drive how we use our capital and how we maximise our impact.
We are not just an investor, we are a development investor, an impact investor, and that is why we want to put productivity, sustainability and inclusiveness at the heart of all the decisions we make.
And we are not just any development investor, we are Britain’s development investor and that is something which presents us with huge advantages and gives us greater opportunities.
As we enter this new chapter as British International Investment, we will build on the legacy of CDC, investing to create positive economic, environmental and social change. We look forward to working with all our partners, in the months and years to come.
