Nicola Nation farewells IIN: Celebrating Her Impact on Impact Investing
- Impact Investing Network
- Jun 21
- 5 min read
Updated: Jun 24
After nearly four years of dedicated service on the Impact Investing Network (IIN) Board and the NZ National Advisory Board (NZNAB), Nicola is stepping into a new chapter. With the recent closure of the Ākina Foundation and her departure from the IIN Board, we had the chance to sit down with her for a farewell Q&A. In this conversation, Nicola reflects on her journey, shares insights into the evolving impact investing landscape, and offers thoughtful reflections for the road ahead.
Nicola Nation's Impact Investing Network (IIN) Journey
How did you first get involved with the IIN and NZNAB?
I attended the launch of the National Advisory Board on Impact Investing, which we now call the Impact Investing Network, in April 2018 in Auckland. I was the newly appointed General Manager of The Ākina Foundation at the time. The event really left an impression on me because I could sense that a great group of people had come together to collaborate. There was a sense that this was the beginning of something bigger in Aoteroa New Zealand and I found that quite inspiring.
In 2019 Ākina was instrumental in the National Advisory Board joining the GSG, the Global Steering Group for Impact Investing. This was another significant milestone and I am forever grateful to David Woods, our first Chair, for his continued efforts linking the NAB/ IIN in Aotearoa with the global GSG movement.
Growth and Highlights
What has it been like to experience the growth of the IIN over your time involved? Any particular highs or memorable challenges?
Working in systems-change can be hard because you are playing the “long game” and progress can seem incremental and slow. I have found it energising and inspiring to come together with colleagues around the IIN table to create a collective effort to move capital towards impactful outcomes. It has been a helpful and hopeful reminder that change is happening and that we can go further working together.
Reflecting on the growth of the IIN in the four years I have sat on the Board: it has been satisfying to watch the IIN level-up and become a trusted source of information, as well as a convenor for the impact investing ecosystem and an advocate for change. Much of that is due to the great work of the team, led by Tan Huynh. Thanks team!
The fantastic events hosted by the IIN in recent years have been a real highlight, and the packed attendance and powerful speakers has been tangible evidence of the growth of the impact investing sector in Aotearoa.
What have been your personal highlights while contributing to the IIN? What’s a moment you're especially proud of?
In July 2024 Ākina launched our Social Investment white paper. The IIN Board was hugely supportive of this work and lent their voice and expertise to the conversation, in the paper and throughout 2024 as we discussed what a successful social investment approach could look like in Aotearoa.
The Ākina white paper catalysed a deeper conversation between government and the IIN, including the wider investment community, which continues today. It has been encouraging to be part of this dialogue and I am proud of the work of Ākina and members of the IIN to make this happen.
Looking Ahead: Vision & Future
What role do you see impact investing playing in Aotearoa New Zealand over the next five years?
I have seen a real commitment from the IIN to doing things differently and to change the flow of capital in Aotearoa. The work of Toitu Tahua Centre for Social Impact in creating a taxonomy - so that we can all speak the same language - may sound dry, but is very important for creating the foundations for the impact investing sector to move forward. I am looking forward to seeing this work come to fruition. I also commend Toitu Tahua and Ākina alumni Jackson Rowland for work on the Aotearoa Stewardship code, which will increase transparency and accountability for impact investing, or ESG investing, in Aotearoa. Alongside the taxonomy, the Code will reduce the ever present risk of impact-washing in investing.
There are two conversations I would like to see the IIN progress in the near-future.
Firstly, we are coming into New Zealand’s largest inter-generational transfer of wealth, estimated at about $1.6 trillion, before 2050. Decisions about estates will mostly be led by eldest daughters. I would like to see these wahine toa dedicate some of this inheritance to impact investing, through the creation of endowment funds to create legacies of intergenerational positive impact. This opportunity is such a no brainer to preserve the memory of our loved ones and to plant the physical and metaphorical trees that will provide shade for our grandchildren.
Secondly, I would like to see increased collaboration between local and central government and capital in the private sector, including philanthropy, with a focus on housing solutions. Housing is the ultimate impact investment, with outcomes seen across health, education, mental wellbeing, poverty reduction, employment and financial wellbeing and resilience.
As recommended in the Ākina white paper there are opportunities for public and private capital to work together and deliver greater positive outcomes than working alone. This conversation needs to continue, building on existing initiatives such as the Bay of Plenty Housing Equity Fund and Homes of Choice brought to life by Soul Capital.
Staying Connected
Do you plan to stay involved with the IIN in any way?
As a signed up member of the IIN I will definitely be devouring the fantastic IIN monthly newsletters and cheering from the side-lines!
The IIN has picked up the Ākina Impact Investment Readiness Programme and I am ready in the wings to provide any support required for that very successful programme to continue in the market.
What’s on the horizon for you? What should the IIN community know about what’s next?
Personally, as I step back from seven years at Ākina, I am considering where I can be the most impactful in our society, and that includes our economy. The investment of capital is an important and powerful lever to drive change, so watch this space!
Words of Wisdom
What’s one piece of advice you'd share with someone just beginning their impact investing journey?
You have the opportunity to be an impact investor every day. Every dollar you spend is a vote for your priorities - from how you power your home, to the coffee you buy and your transport choices. We are all, individually and collectively part of the solution.
The most impactful thing that every individual with a Kiwisaver account can do is to ensure that your investment is delivering positive impact alongside a financial return. Pathfinder has just won “Best Ethical Kiwisaver provider” for the fourth year in a row at the Mindful Money Impact Investing Awards. In addition, Pathfinder produced the second-highest Growth Fund returns for the three-years ended 31 March 2023, actively demonstrating that you don’t need to sacrifice financial returns when you intentionally invest in people and the planet.
You can check out the ethical investing profile of your Kiwisaver fund yourself - check mindfulmoney.co.nz and if you are not already, get your hard earned Kiwisaver investing with impact!
Celebrating Nicola’s Nation's Impact and Leadership Across the Sector
A heartfelt thank you to Nicola from all of us at the Impact Investing Network. Her thoughtful leadership, collaborative spirit, and deep commitment to using capital for good have shaped both our organisation and the wider impact investing community in Aotearoa New Zealand. We’re grateful for all she’s contributed and look forward to seeing what’s next—cheering her on every step of the way.
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