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Money for ‘social finance’

Money for ‘social finance’

The Sunshine Coast Credit Union, Rhiza Capital and Community Futures Sunshine Coast are joining social finance leaders from across Canada in celebration as the Federal Government announced a $755-million fund for social finance in the Fall Economic Statement. Social finance is the practice of making investments that deliver social and environmental returns, as well as financial.

Brian Smith, Rhiza Capital CEO, sees the social finance fund as a “big step forward for social finance and supporting the work we and others have been doing for years.”

He believes this will strengthen an ecosystem of intermediaries and entrepreneurs who are developing new business models to create jobs and serve communities which generate positive social outcomes. Driving these resources into capable hands will result in building more affordable housing, reducing our carbon footprint, employing vulnerable people and creating an economy that works for everyone.

Some recent Rhiza investments include Salish Soils, Popul8, Mesh Food Exchange and Ethelo Decisions. “We continue to look at ways to create financing strategies that leverage community impact,” Smith said.

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