The seven-member Social Innovation Advisory Council will provide advice to the federal government on the implementation of its social innovation and social finance strategy, including the long-awaited $755 million Social Finance Fund.
Studies show that women and nonbinary-owned businesses typically have a higher return on investment. Increasing their access to capital to sustain their business gives them more economic freedom and opportunities to improve their communities.
How foundations, pension plans, organizations and individuals invest their assets has the power to fight climate change, nurture responsible government and drive social change. Raising awareness of responsible options can push investors towards sustainable options.
Black-led, Black-serving organizations receive about 0.7 percent of Canadian philanthropic dollars. The IRP’s boost in support could help them gain greater access to the country’s social innovation ecosystem.
Many Canadian foundations, pension funds and individual investors are trying to align their investments with their values by getting rid of fossil fuels or divesting stocks invested in corporate laggards. But many find it tough to assess whether their investment managers are truly investing in a values-aligned way or just “greenwashing” their portfolios.
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