Corporate Social Innovation
Products, programs, and practices that take into account environmental, social, and governance considerations, in traditional corporations or new forms of business such as B-Corp or Benefit Corporations. Such efforts work toward a “triple-bottom line”, aiming simultaneously for an increase in profit, benefits to the environment, and benefits to the people that interact with a company.
ESG & Impact Investing
ESG Investing: The systematic and explicit inclusion by investment managers of environmental, social and governance metrics into the investment screening process.
- E: Environmental criteria focus on a company’s stewardship of the natural environment and include issues like greenhouse gas emissions, energy efficiency, and natural resource depletion.
- S: Social criteria focus on all people who interact with a company throughout its value chain, from employees to suppliers to the communities within which the company operates. Examples of social issues include workplace health safety, labor practices, and relations with local communities.
- G: Governance criteria focus on a company’s leadership, audits and internal controls, and shareholder rights.Examples of governance issues include bribery and corruption, business ethics, and board diversity.
Impact Investing: Targeted investments, typically made in private markets, aimed at solving social or environmental problems, and including community investing, where capital is specifically directed to traditionally underserved individuals or communities, as well as financing that is provided to businesses with a clear social or environmental purpose.
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The practice of starting new ventures that seek a clear social or environmental purpose, in addition to financial returns. Social entrepreneurship entails a revenue-generating model in order to be sustainable, but the enterprises they create focus first and foremost on "mission-related impact." These businesses can include nonprofits with income-generation models, hybrid businesses, and for-profit businesses.
Public & Social Sector Innovation
Social innovation by governments, governmental agencies, nonprofits, or NGOs acting directly or in partnership with private sector organizations. Examples include private investors providing capital for innovative government programming, nonprofits with earned-income models, or collective-impact initiatives.