The positive power of business to drive social innovation.
The power to drive social innovation.
Read the article written by Tania Carnegie [PDF 5.43MB], National Executive Director of KPMG's Community Leader strategy. From the Benefits and Pensions Monitor's 'Socially Responsible Investing' issue about the emergence of impact investing principles among pension funds and other institutional investors.
Last year, KPMG became a founding partner of the MaRS Centre for Impact Investing, a national social finance hub and project incubator that leads and supports the development of impact investing in Canada. Learn more about why KPMG is supporting the Centre.
Announced this May, the Ontario government launched the country's first microloan fund to help social enterprises create more jobs and strengthen local communities. Read more below about KPMG's new collaboration with the Ontario Catapult Microloan Initiative.
The Ontario Catapult Microloan Fund (Catapult) is being administered by the Centre for Social Innovation (CSI) who has partnered with KPMG, the Government of Ontario, TD Bank Group, Microsoft Canada, Social Capital Partners and Alterna Savings.
The Centre for Social Innovation is a social enterprise that seeks to find solutions to social, economic, environmental and cultural challenges in Toronto and around the world. This exciting collaboration has brought government, business, and non-profits together to create vibrant new opportunities for people of all abilities and backgrounds.
Catapult is a social finance tool that supports social innovators and entrepreneurs working across sectors in food security, youth civic engagement, chronic disease prevention and more. Outlined in the 2012 provincial budget, the Government of Ontario is committed to working with social entrepreneurs, innovators, investors and philanthropists to transform traditional approaches to the delivery of services to people and improve social and economic outcomes.
Catapult will provide promising early stage enterprises with access to capital and CSI’s acceleration programming and services so loan recipients can turn their ideas into world-changing impact. The loans will range from $5,000-$25,000 to eligible social ventures/enterprises. KPMG participated along with the Minister at the launch event of Catapult and throughout this initiative will be providing support to develop a performance measurement framework.
“The Catapult Microloan Fund is a unique approach to affect social change in communities across Ontario and KPMG is thrilled to be a part of this multi-sector collaboration,” said Tania Carnegie, National Executive Director, Community Leadership at KPMG. “Social finance and social innovation are a core focus of KPMG’s Community Leader strategy, so this partnership is a natural fit.”
At KPMG we are passionate about strengthening our relationships with our communities, and together with the Catapult partners, we have tremendous capacity to affect social change and economic development in communities across Ontario.
Read more about the Centre for Social Innovation at http://socialinnovation.ca/.
Read our report [PDF 2.8 MB] which looks at the positive power of business to drive social innovation.