On June 22, 2017 Kiva announced that their life-changing loans had reached 1 billion mark, an amazing accomplishment! Congratulations to the Kiva team especially Matt, Jessica and Premal! In this journal we covered Kiva 4 times since 2006. Soon after they started operation, when they reached 100 million, when they had growing pains and when they started student loans. It has been great to use Kiva in the classrooms to teach microfinance and to give Kiva cards to friends and family to discover their different interests and passions. Thank you Kiva and keep up the great work!
The 14th Skoll World Forum on Social Entrepreneurship took place on April 4-7. This year’s theme was Fault Lines: Creating Common Ground. As boldly described in their welcome message;
Globally, rifts are emerging along cultural, class, and political lines as globalization and the digital revolution have benefited some, and left some behind. The divide grows in how people perceive-and experience-the world which represents a threat to a peaceful and prosperous future. Can we design a world where our common humanity outshines our ideological, cultural, and political differences? Together we’ll rise to new ideas, new perspectives, and ultimately, new relationships built on trust and a mutual desire for human progress. We’ll highlight innovators around the world creating common ground through their drive, creativity and leadership.
It was not only an inspiring forum but a very rich and powerful gathering with bold and innovative ideas and exchanges happening, one of the best that I have attended in the past 11 years.
Highly recommended videos to watch… and if you would like to see more here is the entire playlist.
-Jeff Skoll talks with Jim Kim, President of World Bank Group (29min)
-Jess Search talks to Hamdi Ulukaya, Founder and CEO of Chobani (22min)
-A chilling and fascinating analysis by Michael Porter of HBS on what is the problem in the USA: Porter on Populism (90min)
Meet the Skoll Awardees of 2017 (link includes a 5 min intro to all 4 Awardees)
-Kola Masha: Babban Gona is an investor-owned social enterprise serving networks of smallholder farmers in Nigeria with a model created specifically to attract youth. The first for-profit company to receive the Skoll Award
-Elizabeth Hauser: Build Change trains homeowners, local builders, engineers, and government officials to construct or retrofit disaster-resistant houses and schools in emerging nations vulnerable to earthquakes and typhoons.
-Rajesh Panjabi: Last Mile Health partners with government to deploy, support, and manage networks of community health professionals and to integrate them into the public health system. Working in Liberia.
-Bradley Myles: Polaris systematically disrupts human trafficking networks and restores freedom to survivors. With experience and expertise from direct victim services such as hotlines and resource centers, to policy advocacy, Polaris provides a data backbone for the sector.
A big thanks to Jeff Skoll, Sally Osberg, Stephan Chambers, the Skoll team and the Saiid Business School for their awesome work.
The 2nd Impact Investing Congress organized by seif took place in Zurich on Jan 24th.
Some takeaways and highlights
-The space continues to grow rapidly and somewhat chaotically as new players from all segments with different aspirations and products enter and push for mainstreaming impact investment. Growth is great and as a result you can’t avoid some growing pains. Some big banks such as BBVA and Barclays are becoming more active in this field.
-Rod Schwarz, CEO of ClearlySo introduced the recently launched ClearlySo Atlas, an impact assessment solution for private equity investors and venture capital investors. Atlas asseses the impact of portfolio holdings enabling investors to map, track and report on their impact and sustainability. What is great about this tool is that it targets the mainstream investments managers/portfolios (not only the impact investments) to improve on its impact. This goes along with Rod’s and ClearlySo’s belief that we are moving from the two dimensional investment criteria (return vs risk) towards a three dimensional one adding impact as a feature to all investments.
-Antoni Ballabriga , Global Head of Responsible Business at BBVA made an impressive presentation on how this large bank has recently gone through a transformation involving 28,000 of their employees around the globe to (re)define their purpose. The bank’s purpose is now “To bring the age of opportunity to everyone” and thus their new tagline is “Creating Opportunities”. With the WHY being cleared, the WHAT and HOW follows. These opportunities will be offered through: financial products that meet individual customer needs; financial education programs; transparent, clear and responsible communication; commitment with the environment; support to entrepreneurship; and promotion of culture and science, among other initiatives in favor of society. Let’s see how the initiatives of another large financial player reshape the universe – for the time being let’s give them the benefit of doubt.
-Phyllis Costanza, CEO of UBS Optimus Foundation updated us on the positive results so far of their first Development Impact Bond, an innovative instrument which brings in new money and cross sector partnerships for development. They are working on a new DIB and hopefully many other DIBs would be launched by other institutions in the future.
-The closing was a very interesting panel that debated on the now and future of impact investments in Switzerland which gave us much hope but equally cautions as the industry grows and mainstreams with differing views on the extent of the impact (improving some things vs solving the real problems) that the organizations would like to create.
Thanks seif for organizing this productive Congress.
Acumen started operations in 2001 with a pioneering concept, a non-profit venture capital for the poor, using philanthropic (patient) capital to invest in entrepreneurs that would be capable to create sustainable solutions to big problems in poverty. For the past 15 years, they have been helping to build companies, developing leaders and sharing ideas. Their impact to date: $103m invested in 96 companies, 200 million lives impacted, 310 leaders developed, 17 Acumen Chapters, and 320,000 people have signed up to the Acumen leadership courses. Impressive figures! However, why Acumen continues to be one of the leaders/innovators in this field is because they can’t be content on just seeing these figures. They go deeper in trying to understand the real impact (qualitatively) by developing impact measurement/metrics.
Our Impact Framework: We work to understand impact from the moment we begin due diligence on a company throughout the lifetime of the investment. Working closely with our companies, we generate, analyze and use data that enables them to understand and improve their social performance. Our aim is to unlock their full potential and achieve the greatest social change for the customers they serve. (source Acumen)
As Acumen defines its success as how well their investments are enabling the poor to improve their own lives for the long term, they measure the social performance across 3 dimensions: 1) the focus on the poor 2) the breadth (the number reached) 3) depth (improvements). So they look at impact from all these fronts. They use lean data which has made it much more efficient, faster and cost efficient to understand their impact. Another great contribution of Acumen is how they share their ideas and findings. +Acumen which comprises online free leadership courses and is rapidly becoming “the world’s school of social change”.
Acumen’s Dr. Ambika Sampat spoke about Acumen’s journey on Nov 16 “Zurich Social Investment Breakfast Club” facilitated by Rianta Capital and hosted by RobecoSAM. Thank you all and congratulations to the amazing team of Acumen!
Additional info and suggestions
Jacqueline Novogratz Ted Talks She has delivered 5 TED talks.
Writeup on Jacueline Novogratz’s book ” The Blue Sweater”
The ninth SOCAP, the conference at the intersection of money and meaning took place Sept 13-16 with 2500 attendants, 10 tracks and 12 parallel meetings. It looked overwhelming how this conference has grown but judging from the plenaries and sessions, it has grown in breadth and depth in a solid remarkable way and whilst expanding keeping its feet on the ground. The Opening Plenary discussions and talks made us reflect that the “why” is as important as the “how” on impact investments was a great way to set the tone for the conference. The sessions on impact evaluation and measurement, mapping the impact investment landscape with collaborative data, gender lens investing, a total portfolio approach on fossil investing and B Corps, show the richness and evolution of this movement. Congratulations to Rosa Lee Harden, Kevin Jones, and Lindsay Smalling for the tremendous work!
There are many talks and sessions you can find of SOCAP16 in youtube. Some of my favourites were:
Jed Emerson, Blended Value
Impact at Scale
Shifting Culture Towards Equity
Also the following three sessions were very interesting but it requires a bit more time to watch.
The Transformative Edge of Impact
Navigating Impact Investing: the Pursuit of Clarity and Simplicity
Evolving Impact Measurement over the next decade
On July 10th, Prime Minister Modi of India interacted with 40 Solar Mamas trained by Barefoot College in Tanzania. PM Modi took great interest in all the vocational and entrepreneurial activities that the Solar mamas are conducting such as solar electrification, tailoring, bee keeping and honey making. In fact he was very happy to take home some of the products like robes and honey which are now sold commercially in Zanzibar.
Barefoot College has trained solar mamas in 74 of the least developed countries. This project is done in collaboration with the Indian government. The founder Bunker Roy has lead this organization for 42 years and recently handed over the operational responsibilities to Meagan Fallone, CEO of Barefoot College International. In the last 2 years BCI has started to scale the vocational training activities by building training centers outside of India. The first such training center was launched last year in Zanzibar. 5 more training centers will be launched in Africa and a few in Latin America, Asia and South Pacific.
Congratulations Bunker, Meagan, and the whole Barefoot College team!
(disclaimer: the author is a board member of Barefoot College International)
The European B Corp Summit, a celebration for People Using Business as a Force for Good, took place in Rome on June30 & July1. Two energetic days of learning, sharing, networking amongst the rapidly expanding global B Corp community (currently 1809 companies in 50 countries). The focus was on brainstorming and action planning on how can we continue to accelerate this movement. Powerful messages through numerous inspiring speakers including: Pedro Tarak of Sistema B, Lorna Davis of Danone, Thomas Van Craen of Triodos Bank, Bryan Welch of B the Change Media, Mirella Zuidgeest of thermaflex, Corey Lien of DOMI, Pablo Sepulveda & Eloisa Silva of Birus, and Christoph Barman of Loyco. Thanks to the B Lab Europe team and Nativa for organizing such an impactful event!
The 13th Skoll World Forum on social entrepreneurship took place on April 13-15. It was my 10th Skoll and it was one of my favourite forums so far. There are many sessions that can be seen on video. This year the theme was Fierce compassion and the topics most highlighted were “climate change” and “refugee crisis”.
Highly recommended videos to watch:
Al Gore: A Climate of Change: Fueling a new future
Alexander Betts: Refugees as a Resource
Profile of the 2016 Skoll Award Recipients:
-Mallika Dutt and Sonali Khan (Breakthrough)
-Bryan Stevenson (Equal Justice Initiative)
-Chuck Slaughter (Living Goods)
-Vivek Maru (Namati)
-Oren Yakobovich (Videre)
-Refugee Crisis: Roots and Remedies
-Getting Beyond Business as Usual: Paving the way for social progress
The musical performances during the Forum were just awesome and inspiring starting with Malek Jandali, Syrian-American Composer and Pianist, Juanes, and Sonita Alizadeth.
I would like to thank Jeff Skoll, Sally Osberg, the whole Skoll team and the University of Oxford for hosting again such an inspiring and powerful rich content forum.
Every year very interesting forums and meetings take place in the second half of January here in Zurich as these are scheduled before and after the WEF forum in Davos. This year we had the seif Congress on Impact Investment and Social Innovation, a nice venue providing an overview of the current state of impact investment in Europe and promoting the building of an ecosystem in Switzerland. Coinciding with this Congress there was a meeting launching the Women Effect.
We believe that investing in women and girls is not only right, it is smart. It leads to positive returns for investors and better social and economic outcomes for everyone. This is the women effect.
– Suzanne Biegel, founder of womeneffect and a pioneer in gender lens investing.
Women Effect is a global community of generous men and women, individuals and institutions (investors, philanthropists and wealth managers) who have come together to accelerate the women effect in the most strategic and efficient way. It is a platform to learn connect and collaborate, accelerating investments in women and girls. Suzanne’s article on this subject.
On Dec 1, Mark Zuckerberg and Priscilla Chan made the announcement welcoming the birth of their daughter Max and their decision to give 99% of Facebook shares (currently USD 45bn) to the Chan Zuckerberg Initiative to advance human potential and promote equality for all children in the next generation. This was posted (in Facebook)through an awe-inspiring and mindful letter “A letter to our daughter” that should become a must read for people in the private sector, public sector, academia, citizen sector, basically everyone as it articulates with clarity the challenges we face and how to tackle these. The Chan Zuckerberg Initiative is set up as an LLC which has attracted both praise and criticisms.
I personally believe that their decision is great and inspiring as it would give them much more flexibility in achieving their goals by being able to do both: invest and donate with impact. This Initiative is bold and it will provide a major boost to both impact investing and venture philanthropy and hopefully one day it will go for B Corp certification!