The founding partner of VinaCapital, one of Vietnam’s leading asset management groups, talks with us about communities and impact investingRead More ›
Social Finance Round Up: Local Governments Take Centre Stage
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 August 13, 2012.
Recently on SocialFinance.ca
- Stacey Corriveau published Summertime Reading: 2008 Rockefeller Foundation paper on Mission-Related Investing is Timeless on August 9, 2012
- Simon Anderson published Social Return on Investment-Lessons Learned from the Field on August 08, 2012
- Katie Grace published Smart Impact Investing Policy: The U.S. CDFI Fund on August 02, 2012
- Tristina Sinopoli published Social Finance: The Key to Innovation City on August 02, 2012
- Karim Harji posted Purpose Capital Matters on July 31, 2012
- Stacey Corriveau published CRA Releases New Guidance on Community Economic Development and PRIs on July 30, 2012
- Becky Slater published Video: Making the Leap to High Performance on July 27, 2012
- Adam Jagelewski published Impact(ful) Policy: What Do Railroads, Telephones and Social Enterprise Share? on July 26, 2012
- Bonnie Foley-Wong published Top Tips for Making the Transition to Impact Investing on July 25, 2012
- Christian Novak published Social Impact Bonds – Benefits and Promises on July 24, 2012
- Joyce Sou published Your Input Wanted! Shaping the 2012 Social Finance Forum on July 20, 2012
Canadian and International News
- New York City launched a social impact bond, the first city in the United States to do so. Goldman Sachs will invest $9.6 million loan to reduce recidivism; with $7.2 million of it guaranteed by Bloomberg Philanthropies.
- The Initiative for Responsible Investment at the Harvard Kennedy School and Living Cities recently published a paper entitled Putting Dollars to Work in the Community: 9 Things Local Government Can Do to Harness Private Capital for Public Good. Download paper [PDF].
- Start-up social ventures will now be able to access intensive support through the new £10 million Social Incubator Fund, which was launched by Minister for Civil Society Nick Hurd. The Fund (administered over the next three years by Big Fund), which specifically targets social incubators to help them provide investment and support to early stage social ventures.
- The Centre for Challenge Prizes at Nesta has announced the launch of two new Giving Challenge Prizes. The social issues being addressed are Waste Reduction and Ageing Well; the winning entries will win £50,000.
- RSF Social Finance has released a new report titled Bridging the Gaps: Funding and Social Equity Across the Food System Supply Chain. The report, produced with the support of the Rockefeller Foundation, examines the current state of funding allocated to building a just and sustainable food system. Download full report [PDF].
- ImpactAssets released a new Issue Brief on Private Equity in Emerging Markets. “These investors are discovering that by building upon the decades-long experience of development finance institutions (many of which have used public funding to finance enterprise creation in emerging markets) they can deliver capital while pursuing sustainable, long term returns for investor and other stakeholders alike.” Download report [PDF].
- On June 20-22 the Rio +20 Summit on sustainable development took place, tackling two main themes – a green economy in the context of sustainable development and poverty eradication, and the institutional framework for social development. Based on the latter topic, the United Nations Global Compact together with the Rockefeller Foundation published a research report titled: A framework for action: social enterprise and impact investing. Download report [PDF].
- The Bank of America Charitable Foundation has announced grants totaling $22 million to nonprofits that build and renovate affordable housing, offer foreclosure prevention services and homeowner counseling, and provide other services designed to stabilize neighborhoods.
- The Council on Foundations announced important partnerships with two leaders advancing social impact, the Global Impact Investing Network (GIIN) and the Mission Investors Exchange.
- Toronto Community Foundation (TCF), one of Canada’s largest community foundations, announced that it has partnered with Open Access Ltd., Canada’s only defined-contribution fiduciary manager. This new partnership will see Open Access act as TCF’s Investment Advisor and Discretionary Manager.
- Leopard Capital launched the Leopard Haiti Fund to invest in Haiti’s private sector [PDF].
- People struggling under a heavy load of severe problems – homelessness, reoffending, substance misuse and mental ill-health – are being given help to improve their lives through an investment of up to £100 million from the Big Lottery Fund (BIG).
- The public can now comment on an exposure draft of the G4 Guidelines, from 25 June to 25 September 2012. During this second Public Comment Period for G4, any interested party can provide feedback on the G4 Exposure Draft via the online consultation platform. See an abridged version of the G4 Exposure Draft.
- A summary of the main proposals in the Charities Act in the UK, with sector reaction and an assessment of what’s likely to happen.
Social Finance Learning and Best Practices
- Narinder Dhami writes about Rise Asset Development in the Huffington Post – ‘Rise targets a population with untapped potential.’
- Aaron Hurst of the Taproot Foundation makes the case for early investment – the earlier you make the social investment, the greater the impact.
- Microcredit should neither be credited with ending poverty on its own nor held responsible for promising more than it can deliver, says Moushomi Khan of BRAC.
- Thomas Kostigen reports on the Innovative Alternative Strategies conference, where discussions about emerging markets and impact investing abounded.
- Lauren Burnhill argues that a scaled model for social enterprise would discard the current selective incubator model and create far more impact. The theory is then bolstered with some estimates on job creation.
- Daniel Snell of Arrival Education on actually getting some social investment – a personal take.
- The Senate recently approved an amendment to strengthen the Low-Income Housing Tax Credit, which has leveraged over $75 billion in private investment over the past 25 years. Emily Cadik reports.
- The Economist is not a fan of the Goldman Sachs-funded social impact bond; predicting that SIBs will ‘become a means for government to use the prestige of financial institutions to claim to taxpayers that their money is being well spent.’
- The New York City SIB marks a turning point in the financing of social impact bonds, says Michael Belinsky, pointing to the use of private capital.
- The new world of impact investing demands cooperation and integration among anti-poverty organizations, says Gary Ford.
- The Small Change Fund is hiring an Executive Director – apply now!
- Venture Deli and Ashoka are hiring an office manager for their shared workspace. View the job description and apply today!
- Ennovent has launched its fall Internship Program – seeking 3 undergraduate or graduate level students (or professionals in transition) to join the team for a minimum of 8 weeks to perform investment-related research, conduct analysis and generate recommendations to inform strategic service and organization-level decisions.
- Endeavor is looking for a talented intern with a passion for writing to assist with the blog and social media efforts.
- Social Finance is looking to recruit a Director for a Social Impact Bond in Essex County to offer an intensive intervention to adolescents.
- Invest2Innovate (i2i) is looking for a Fellow for the fall – a driven and passionate candidate with knowledge and experience in business development support, strategy implementation, finance and fundraising.
Let’s Talk About Crowdfunding. Conversations for Investing with our Values
Tuesday, August 21, 2012, SFU Harbour Centre, Vancouver
Best Practices in Impact Investing
September 20, 2012, San Francisco, California
Policy To Practice – ONN Conference 2012
September 27-28, 2012, TIFF Bell Lightbox, Toronto
European Alternative & Institutional Investing Summit
1-3 October 2012, Monte Carlo, Monaco
The SRI Conference
October 2-4, 2012, Mohegan Sun Conference Center
Toronto International Microfinance Summit and Rotman School of Management Microfinance Symposium
October 16, 2012, Rotman School of Management, University of Toronto
Impact Investing Experts Speaker Series @ Rotman
October 16, 2012, Rotman School of Management, University of Toronto
Investors’ Circle Fall Venture Fair & Forum
October 24-25, New York City
Social Impact Purchasing Summit
November 7 & 8, 2012, Vancouver
TBLI CONFERENCE™ EUROPE 2012
November 8-9, 2012, Swissôtel Zurich, Switzerland
Did we miss anything? Add news, events and more in the comments below!
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