National Programs
What CFs Are Doing: Community Foundations & Responsible Investing
Canada's community foundations are exploring how they can align the investment of their assets - not just the allocation of their grants - with their mission.
Interest in responsible investing (also known as mission-based investing or socially responsible investing) is growing as community foundations consider ways to leverage their assets to have an even greater impact on the issues that matter most to their communities.
"The Social Enterprise Fund gives us another way to assist charities in our community - beyond what we are able to do by granting 3.5% of our assets. It also enables us to invest directly in our own community." Martin Garber-Conrad, CEO, Edmonton Community Foundation
Edmonton Community Foundation
The Social Enterprise Fund (SEF) is a unique collaboration between the Edmonton Community Foundation and the City of Edmonton, both of which have committed $3 million to establish the fund. The SEF helps meet the need for access to capital to support social housing and spark social enterprise. In addition, the United Way Alberta Capital Region and the Alberta Real Estate Foundation have both invested in the fund. Here are three detailed stories about investments from the SEF.
Hamilton Community Foundation
Recognizing that community investing offered a significant opportunity for the Foundation to increase the leverage of a portion of its capital, in 2010 HCF made a commitment of $5 million to seed the Hamilton Community Investing Fund. The Fund is still in its early stages, with more details to come.
Osprey Community Foundation
Serving the community of Nelson, British Columbia, the Osprey Community Foundation currently has 15% of its capital placed in a Socially Responsible Investment Fund, held by Vancouver Foundation and is investing all new donations in the SRI fund.
The foundation says on its homepage that they plan to "gradually move all of the foundation’s endowment capital into socially responsible investments.”
Community Foundation of Ottawa
CFO revised its investment policy in 2010 to incorporate responsible investing. The policy now states: "CFO aspires to integrate ESG factors into investment management processes across the portfolio and as such endorses the United Nations Principles for Responsible Investing (UNPRI)." CFO will be implementing changes over time.
Vancouver Foundation
The largest community foundation in Canada, and one of the oldest, currently has a $10-million Socially Responsible Investment Fund in which donors can opt to place their donation. The foundation is also exploring potential options around community investment funds with economic and social returns.
Find out about the range of activities included in responsible investment.
Or browse through our resources section to learn more about responsible investment.
CONTACT
Betsy Martin
Senior Advisor and Program Consultant
betsy.martin@sympatico.ca
514-488-3682