Social Finance Round Up: IFC Launches $500M Green Bond in US

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 May 7, 2012.

Last Week on SocialFinance.ca

Colleen Ebinger posted Risk vs. Risk on May 1, 2012.

Jo Reynolds posted Update from the MaRS Centre for Impact Investing – May 2012 on May 2, 2012.

Sara Lyons posted Video: A Hope That Saves in Rwanda on May 4, 2012.

Canadian and International News

Omidyar Network has announced that it will fund Social Finance in the UK and its sister organization in the US with over £1.3 million of grant support for the expansion of social impact bonds in the United States, Ireland, Scotland, Australia, Canada and Israel, as well as in the international development sector.

Canada has committed $250 million to create the Canadian Climate Fund for the Private Sector in the Americas. Managed by the Inter-American Development Bank (IDB), the fund will finance private sector climate mitigation and adaptation projects in Latin America and the Caribbean that require concessional financing to become viable.

The Asian Development Bank (ADB) has secured a special drawing right of $12.4 billion for the next four-year phase of its concessional development fund, providing critical financial support to fight poverty in Asia and the Pacific region.

Citi’s Environmental Products Trading and Origination team, working with Citi Microfinance, has agreed to purchase 1.17 million metric tonnes of carbon credits. These credits will be generated by capturing reductions of greenhouse gas emissions following the installation of more efficient household insulation and heating fixtures in Mongolia’s “gers,” the traditional and ubiquitous tent-like structures that house more than a quarter of those living in the country’s capital.

Drawing on novel and useful insights from its work, Dalberg has released a compendium of ideas on improving investments in global development: Fund This, Not That [PDF].

The Carsey Institute and the CDFI Fund have published a Summary Report [PDF] exploring the issues of capitalization, liquidity, and portfolio and risk management by Community Development Financial Institutions (CDFIs).

International Finance Corporation (IFC), a member of the World Bank Group, launched its first green bond in the US market, raising $500 million for climate-friendly investments in emerging markets.

Along with three other African countries, Ghana has been selected to benefit from Climate Investment Funds (CIFs) to secure national forests. The CIFs are unique financing instruments designed to initiate transformational change towards low-carbon and climate-resilient development through scaled-up financing channeled through Multilateral Development Banks (MDBs).

Microfinance platform Wokai announced that it is beginning the process of winding down the nonprofit company and concluding operations. Over its five years of operations, Wokai helped thousands of people across rural China build businesses and raise themselves out of poverty.

Social Finance Learning and Best Practices

The latest issue of The Philanthropist is out, focusing largely on nonprofit accountability and risk management.

The Canadian Social Economy Hub has produced three final publications building on the results of the national, six-year research program. PDF versions of the e-books are available for download.

Thea Garon offers a review of the literature on microinsurance. The papers and posts selected, pulled from the archives of Financial Access Initiative (FAI), offer a valuable sampling of some of the current ideas and debates within the nascent field of microinsurance.

Carol Goar of The Star offers a simple primer on social enterprise for Torontonians who want to understand what’s going on in the sector and why it matters.

Check out Episode 10 of Unreasonables featuring Saba Gul, a social entrepreneur in Pakistan looking to scale her handbag business, as she debates an all-too-common issue: Should her company be structured as a for-profit or nonprofit?

Oikocredit reflects on the potential for ethical consumers to also be ethical investors.

The Centre for American Progress describes an important challenge tied to social impact bonds and government contracting that is often overlooked: choosing the best external organization to achieve the desired outcomes.

Together with the IMF’s Financial Access Survey, the Findex project is helping to correct a long-standing imbalance in the evidence on global finance. Recent Findex data shows the broad shape of financial access for the first time using a unified approach.

Felix Salmon writes on the promise of B-corps, which he believes have more promise than the mainstream gives them credit for.

The fourth edition of J.P. Morgan and CGAP’s annual Global Microfinance Equity Valuation Survey Report has been released. The responses to this year’s survey reveal that private equity markets experienced an important increase in deal activity from the slower pace recorded in 2010.

David Ferrell profiles Ron D. Cordes, a successful 52-year-old entrepreneur, who set out several years ago to achieve equal success in a new, entirely different career mission: giving money away.

Roland Dominice, co-founder and CEO of a Geneva-based microfinance investment services company, writes about Microfinance Investment Vehicles (MIVs) and the role they play in sourcing capital to fund microfinance institutions globally.

Dom Potter highlights the distinctions between social impact and social value, which are critical to note and understand, particularly after the recent passing of the Public Services (Social Value) Act in the UK.

The Muslim Strategic Initiative has released a white paper on leveraging social enterprise to create new revenue streams for mosques. The objective of the note is to illustrate the need for Islamic organizations to transition from relying on donations and charitable gifts as the primary source of revenue and to encourage the shift towards social enterprise as a way to generate much-needed dollars.

Havona Madama, a New York City lawyer and successful crowdfunder, offers insight around how you can more effectively crowdfund for your next book, album, app, or community project, such as choosing a short time limit and knowing how to use social media.

John Fullerton writes on the case for public banking in America.

Discovery 

Shmoney – matches people who want things done for them with people who can help them.

Job Opportunities

Social Assets Measurement is seeking an SROI Analyst to work with the organization’s clients on developing SROIs.

The Unreasonable Institute is looking for a Program Manager to design and execute the 6-week Summer Institute for entrepreneurs.

Calvert Social Investment Foundation is seeking a Compliance Officer, among several other roles.

Investing4Good in the UK is recruiting: they’re looking for a Business Development Manager and a Social Bonds Programme Manager.

Applications for the Kiva fellowship are now open! The deadline to apply is May 13th. For more information on the application process or to see dates for future classes, please click here.

Upcoming Events

SOCAP: Designing the Future
May 8 – 10, Malmo, Sweden

2012 BALLE Business Conference: Real Prosperity Starts Here
May 15-19, Grand Rapids, MI

Let’s Talk About Risk. Conversations for Investing with our Values
May 22, Rogue Kitchen, Vancouver

Environmental Bonds Conference
May 23, New York

BALLE Accelerating Community Capital Webinar Series
June 12, Online (Webinar)

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

Charities’ Next Top Model: Can Social Franchising work?
June 26, 2012, Sadler’s Wells Theatre, London, UK

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/

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