Social finance is an approach to managing money that delivers a social dividend and an economic return. It may also refer to Social Finance UK, the organisation behind the first Social Impact Bond.
Social finance includes community investing, microlending, social impact bonds, and sustainable business and social enterprise lending. Outcome-based philanthropic grantmaking and program-related investments - sometimes referred to as venture philanthropy- also fall under the umbrella of social finance.
These approaches to investment and funding share the twin focus of stimulating positive social and environmental returns for investors and the larger world. Some social investors even try to affect an environmental return, which is referred to as a regard for a ‘triple bottom line’.
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“But look what we have built ... low-income projects that become worse centers of delinquency, vandalism and general social hopelessness than the slums they were supposed to replace.... Cultural centers that are unable to support a good bookstore. Civic centers that are avoided by everyone but bums.... Promenades that go from no place to nowhere and have no promenaders. Expressways that eviscerate great cities. This is not the rebuilding of cities. This is the sacking of cities.”
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