Social investment counts for just 1.4% of all UK business lending. So how can we get mainstream banks to play a much bigger role in the social economy? By changing the incentives – and therefore the culture – of banking, says the Big Issue Invest CEO.
Coutts, Triodos, Bridges Fund Management among those in new B Corp coalition calling on financial firms around the world to rewrite their constitutions to legally commit to a social and environmental purpose.
STREETS OF AMSTERDAM: Yoni is bringing its biodegradable, organic-cotton products to supermarkets across Europe. But perhaps its biggest challenge is busting taboos around menstruation – especially when some say they don't exist.
PLUS: Pioneering revenue-based fund launches in Scotland; Back Market raises $335m in “bullish” circular economy market; AU$8m boost for Queensland social enterprises; Dutch trio backs “truly disruptive” AI firm Envision – and more.
Despite the UK's rainy reputation, a sunny future lies ahead for Low Carbon Hub’s Ray Valley in Oxfordshire, set to power 6,000 homes and generate £10m locally, after a hugely popular community share offer and £4.4m loan from Triodos.
Some claim Big Society Capital’s current form – and its implications on the cost of finance – is actually holding back social investment. But, while lending all its money cheaply may be tempting, it would be a serious mistake, writes CEO Cliff Prior.
Social entrepreneurs may acknowledge there’s a crisis unfolding, but that doesn’t mean there’s a clear path ahead for how they should respond. Are they falling short – or does the responsibility lie elsewhere?
PLUS: Generation Investment raises $1bn to invest in “sustainability revolution”, SIS Ventures makes first equity investment, North East Social Investment Fund invests £700k in employability and education, and more.