The Social Finance Fund needs to prioritize these three issues for recovery, say advocates

Author Jack Graham
Why homelessness, economic exclusion, and the climate crisis are the fund’s three biggest opportunities

Why It Matters

Homelessness rates will rise from already crisis-level after the pandemic. Systemic racism means racialized communities could be left behind in recovery. And underlying all this is that COVID-19 won’t be the last global crisis we face — climate change will make sure of it. These problems need innovative, long-term funding. Just in time for the launch of Canada’s $755-million Social Finance Fund.

Earlier this month, Families, Children, and Social Development Minister Ahmed Hussen took a call with a few dozen social finance experts from across the country. With Ottawa reviewing the rollout of the $755-million Social Finance Fund, their message to Hussen was clear: social purpose organizations need the cash now — to help them rebuild, innovate, and meet the rising demand for their services. 

As Future of Good has reported, impact investing groups are calling on the federal government to repurpose the fund, including by frontloading the money with $400 million in two years, to boost Canada’s COVID-19 recovery and address some of the most difficult challenges presented by the pandemic.

The fund could be a vital tool for the social impact sector, which faces a lethal combination of fragile financia

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