From dealflow to a lack of education, this week leaders in social finance addressed some of the key barriers preventing the UK market from flourishing. Last month Antony Bugg-Levine, the chair of the Global Impact Investing Network, told delegates at London’s Critical Mass conference that in the world of social finance there were “hypers, haters and […]Read More ›
Social Finance Round Up: BC Social Innovation Council Releases Final Report
SocialFinance.ca produces a weekly round up featuring social finance related news, insights, job openings, and events. We source the content for these round ups from Twitter, an RSS reader, and directly from our community of social finance practitioners. Below is our round up for the week of April 30, 2012.
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Last Week on SocialFinance.ca
Megan McFadden posted How Are You Designing the Future? on April 25, 2012
Brendan Reimer posted Community Economies and Jobs to Suffer Without Support to Co-operative Development on April 26, 2012
Nabeel Ahmed posted Video: Launch of Big Society Capital on April 27, 2012
Canadian and International News
The BC Social Innovation Council released its final report, Action Plan Recommendations to Maximize Social Innovation in British Columbia, on Friday, April 27th. The eleven recommendations in the report are meant to enhance the work of social innovators and entrepreneurs today as well as creating opportunities for new ideas and new players in the future. Four of the eleven recommendations focus on supporting social enterprises – a social enterprise investment tax credit, the use of social procurement and social impact bonds, and SME support extended to social enterprises. Download full report [PDF].
On April 26-27, US Secretary of State Hillary Clinton hosted the Global Impact Economy Forum to ‘accelerate practices and thinking around the impact economy’.A few days before the Forum, Kris Balderston (Special Representative for Global Partnerships) and Kirsty Jenkinson (Director of Markets and Enterprise Program of the World Resources Institute, were interviewed by Cheryl Benton, Deputy Assistant Secretary in the Bureau of Public Affairs, speaking about the evolution of impact investing.
Morgan Stanley launched a new ‘investing with impact’ platform to offer both financial as well as social and environmental returns. Audrey Choi, head of global sustainable finance at Morgan Stanley, explained the new approach in the Stanford Social Innovation Review.
The Skoll Foundation and USAID launched a new $44.5 million Global Development Alliance to ‘identify and co-invest in high-impact social entrepreneurs, supporting them in scaling up business models’.
An Australian Community Sector Banking consortium has released a financial product that it says will donate 50 per cent of account profits towards social projects; investors can also elect to donate a proportion of their interest to the fund. The Bendigo Bank and Community 21 joint venture called Community Sector Banking (a consortium of 20 nonprofit organisations including Oxfam Australia, Scope and ACOSS) has launched the product called the Social Investment Deposit Account.
Incofin Investment Management, Fairtrade International and Grameen Foundation announced they are establishing the first fund to focus on the unmet demand of smallholder farmers for long-term loans. Starbucks Coffee Company SBUX +1.01% joins as the Fund’s first anchor private investor with a $1.3m (1m euros) commitment.
RSF Social Finance (RSF) is proud to announce a new loan to Viva Farms, a farm incubator program in Washington state’s Skagit Valley. Viva Farms’ mission is to train and support Washington’s next generation of farmers.
The California Public Employees’ Retirement System (CalPERS) released its first-ever report, entitled Towards Sustainable Investment: Taking Responsibility, chronicling the pension fund’s efforts on sustainable investing at the CERES innovation and sustainability conference in Boston, Massachusetts. Download report [PDF].
Ceres and Sustainalytics released a new report, The Road to 2020: Corporate Progress on The Ceres Roadmap for Sustainability, which assesses how U.S. businesses are progressing on sustainability. As a framework, it uses The 21st Century Corporation: The Ceres Roadmap for Sustainability, a guide for integrating sustainability across a company’s entire enterprise. Specifically, it evaluates where 600 large publicly traded companies stand on sustainability issues in terms of governance, stakeholder engagement, disclosure and performance. Download report [PDF].
There is a £1bn gap in funding for social investment, says the UK Cabinet Office, which last week held a roundtable meeting to discuss barriers to social investment.
Sistema B became the first B Corp (or rather, Empresa B) to be registered in Latin America, reports Alex Goldmark.
Impact Investment Exchange Asia, a social enterprise stock exchange in Singapore, is set to be officially launched in June at the Igniting Capital Markets conference.
Social Finance Learning and Best Practices
The Nonprofit Finance Fund released a ‘risk trade continuum’, displaying different structural approaches for pay-for-success/outcomes-based financing. They organize five different models on the basis of perceived risk for investors, providers and commissioners (government). Download the infographics here [PDF].
CGAP and the Microcredit Summit Campaign invite you to participate in a virtual conference on reaching the poorest. Last November, the Campaign hosted more than 2,000 people from around the world for the 2011 Global Microcredit Summit in Valladolid, Spain. It was an intense 3 days of learning, sharing, and networking about emerging and more mature best practices for reaching the poorest. This goal of this virtual conference is to continue the conversation and capture any new developments since the Summit.
Social bonds offer charity investors possibilities, but there will need to be developments before they will fit into a traditional portfolio, says John Hildebrand of Investec Wealth & Investment.
The Mackenzie Charitable Giving Fund released a Guide to Charitable Giving and Estate Planning, with two especially interesting articles. The first, by Brad Offman, defends charities and nonprofits against the relentless and somewhat needless focus on administrative costs; later in the publication, Malcolm Burrows talks about spending down by foundations. Read publication here [PDF].
Philanthropy Management, a new quarterly magazine focusing on the financial, operational and strategic services that underpin sustainable giving, published its first issue. It included an article on the dangers of the profit motive for microfinance. Download full issue [PDF].
Alexander Friedman and Patty Stonesifer make the case that finance, despite all its critics, can play an important role in helping tackle social problems. They also make three recommendations regarding social finance and impact investing.
John Tizard dissects the false dichotomy between impact investing and charitable grants, arguing that they are all different forms of social finance and pointing out that grants and development funds remain essential. “All of the social and charity can benefit from investment – it just has to be the right type of investment for each organization.”
In late March, Symbiotics published its first book: Microfinance Investments: An investor’s guide to financing the growth and wealth creation of small enterprises and low income households in emerging economies. It aims to give its readers an overview of the industry dating back to the beginning of its commercialization up to our post-financial crisis era. Download table of contents [PDF].
Development Innovation Ventures – USAID grant program that funds social-purpose projects.
The ACCESS Community Capital Fund is looking for a Program Coordinator to help expand the ACCESS micro-lending program.
Social Asset Measurements is hiring; seeking an SROI Analyst [description, PDF] to work with clients on developing SROIs. The deadline for applications is May 7th at 5pm EDT. Candidates should submit their resume and cover letter as a single .pdf attachment via e-mail to firstname.lastname@example.org.
The Entrepreneurial Finance Lab (EFL) is seeking an entrepreneurial undergrad or recent graduate to join the team this summer. Email a cover letter and resume to Emily Silberstein at email@example.com. See more detailsat NextBillion.net.
Enterprising Non-Profits Alberta: Building Your Social Enterprise Workshop (Edmonton)
April 30, 2012 at the Business Link, Edmonton, Alberta
3rd Annual Impact Conference
22-25 April, 2012, Miami, Florida
SOCAP: Designing the Future
May 8 – 10, Malmo, Sweden
Let’s Talk About Risk. Conversations for Investing with our Values
May 22, Rogue Kitchen, Vancouver
Environmental Bonds Conference
May 23, New York
Canada’s Socially Responsible Investment Conference
June 18 – 20, Montreal, Quebec
Igniting Capital Markets for Social Good
June 25-26, Singapore
Cracking the Nut 2012 Conference
June 25-26, 2012, Enrique V. Iglesias Conference Center, Washington, DC
Partnering for Global Impact
July 9-10, Lugano, Switzerland
PRI-CBERN Academic Conference 2012
October 1-3, York University, Toronto, Canada
The Social Enterprise World Forum (SEWF) – Fórum Mundial de Negócios Sociais 2012
October 16-18, 2012, Rio de Janeiro, Brazil
Photo credit: http://www.flickr.com/photos/benimoto/603815615/