Each week, we compile and summarize the top articles on corporate social impact, impact investing, and conscious capitalism from around the world, and deliver it to your inbox every Saturday morning for you to enjoy and digest.
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GROWTH WITH AN IMPACT: THE RISE OF VCs LOOKING TO FUND A (PROFITABLE) CAUSE
Traditionally, impact investment has not been the cool kid in venture capital. But that’s slowly changing. More investors recognize that making money and making a positive impact on the world doesn’t have to be mutually exclusive. Part of the reason for that is millennials have grown up with a more socially responsible mindset than previous generations. As such, the businesses they are starting, and want to work for, tend to fall into the category of making a social impact.
INVESTING FOR SOCIAL IMPACT: NEW SIGNS OF PROMISE
It started with a simple premise: Private investors could help reduce the rate at which released British prisoners commit new crimes. Seven years later, the recidivism project at Peterborough Prison stands as a success. Its intensive work with male prisoners who serve less than a year offered help with housing, training and employment, parenting, substance abuse, and mental health. It reduced recidivism by 9 percent among 2,000 prisoners, saving the British government enough money in prison and other costs that the investors who funded the experiment got a 3 percent annualized return over five years.
Since then, the mechanism behind this success story – known as pay for success or a social impact bond (SIB) – has spread to 24 countries, according to a report released this week by Social Finance, a nonprofit that sets up such bonds. So far, private investors have funded 108 projects aimed at saving governments money with innovative projects serving everyone from homeless youths in Australia to parents in need in Germany to blind people in Cameroon.
It's a novel idea with big potential implications, but also relatively new, and its success depends on how one counts.
THE 50 BEST WORKPLACES FOR GIVING BACK IN 2018
Increasingly, employees are asking for more from companies than just a paycheck and an ID badge—they want to know their work has a positive impact. But corporate philanthropic contributions these days often seem like little more than PR campaigns. Not so at these companies, which truly go above and beyond in their mission to give back—donating cash, expertise, and lots (and lots) of volunteer hours. Fortune partner Great Place to Work combed through hundreds of thousands of employee surveys to compile the following list of the U.S. companies that workers say are doing the best job at making a difference.
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BRIDGING THE GAP BETWEEN BUSINESS AND SOCIAL IMPACT.
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