SITAWI participated in the workshop “Measurement and impact assessment” organized by ALIDE, BNDES, SEBRAE and ABDE. The event, held between October 30 and November 1, is part of the Latin American and Caribbean Green Finance Platform, which was created to share information and knowledge about green financing with national development banks and other financial entities. Leonardo Letelier, SITAWI’s CEO, moderated the first day of the event focusing on the evolution
SITAWI Finance for Good has partnered with the InterCement Institute to manage a philanthropic fund to support the organization’s community development activities. The R$ 420,000 fund will go towards establishing InterCement’s “Community Ideas” contest, which will support entrepreneurial projects in the cities in which the organization operates. The purpose of the initiative is to encourage members of Community Development Committees to engage in entrepreneurship through the development and implementation of
Nominated by the Brazilian Association of Technical Standards (ABNT), SITAWI’s Director of Sustainable Finance, Gustavo Pimentel, will be a part of the international expert group charged with developing ISO 14030, which aims to standardize the requirements for the classification of a green bond. Two other Brazilian organizations, FEBRABAN and the consulting firm Sust4in, will also be a part of this group. The new standard of the ISO 14000 series, which
SITAWI recently led a closed fundraising process for the first “collective loan” for an impact business in the country. Together with other investors, it was possible to disburse R$ 100,000 for the selected impact business. This innovation unites crowdlending with impact investing. In addition to below market rates for the borrower, SITAWI will provide ongoing strategic advice. For the investor, this is an “easier” investment opportunity for both the risk
Sustainable forest management and wind power dominate use of proceeds. New State of the Market Report predicts growth in the low-carbon agriculture and transportation sector. São Paulo, October 2nd 2017 – The Brazilian labelled green bonds market has now reached $3.67bn thanks to national companies – the latest results in the second edition of the Brazil State of the Market Report. From June 2015, (when BRF inaugurated the market) to
A study by the Data Popular Research Institute for the British Council points out that 95% of the Brazilian population does not speak English*. Several factors help explain this number, including the high prices of language courses, poorly trained teachers, and business models that do not favor learning. With that in mind, the entrepreneur Gustavo Fuga created 4YOU2, bringing an innovative model that combines foreign teachers, an adaptive methodology, and
Frederico Seifert, SITAWI’s Sustainable Finance Manager, spoke at the 4th Sustainable Dialogues event, which occurred on September 21st and 22nd, in Brasilia. The meeting brought together representatives of the Brazilian Biodiversity Fund (Funbio), the Ministry of the Environment, Public Prosecutors, and third sector institutions to discuss the challenges and opportunities of funding environmental conservation projects in Brazil. During the Innovation panel, Seifert discussed impact investing and the importance of innovating
The study “Responsible Investment in Brazil 2016: ESG Adoption by Pension Funds”, carried out by SITAWI, illustrates that several national pension funds have already made progress in integrating ESG aspects into their internally managed assets, but they have carried out fewer changes to encourage their external managers to practice responsible investment as well. To allow pension funds to evolve in that direction, SITAWI developed the technical content for the elaboration
SITAWI represents Brazil once again in the world’s largest research on Responsible Investment, Independent Research on Responsible Investment – IRRI 2017. Whether you work for a Quoted Company, Asset manager, Asset Owner or Sell-side brokers, this is an opportunity to provide feedback on Corporate Governance (CG) and Responsible Investment (SRI) research providers. We ask your vote and your colleagues in the following categories: IRRI 2017 – Quoted companies Which SRI
Impact investing is a concept on the rise. On the one hand, we have entrepreneurs who want to solve social problems using a business logic, with or without profit. On the other hand, we have investors and organizations with capital available to contribute to these innovative initiatives, who may or may not need to share the financial results. Within this context, Impact Hub São Paulo mediated a panel to discuss
SITAWI’s analyst Marcela Miranda participated in the evaluation table of the 1st edition of the Labora Social Business Acceleration Program, the social innovation laboratory of Oi Futuro, with the technical execution of Yunus Social Business. The evaluation panel was composed of market experts with knowledge and experience in the areas of management and business, investment, innovation and social impact. It included representatives from Oi and Oi Futuro, Yunus Social Business,
On September 5th and 6th, SITAWI participated in the the Regional Roundtable on Sustainable Finance held by UN Environment Finance Initiative (UNEP FI) in Buenos Aires. The event commemorated the 25th anniversary of the initiative, which aims to bring financial institutions together to share their experiences and join forces in order to combat climate change. Leonardo Letelier, SITAWI’s CEO, moderated the Panel on Human Rights and Social Issues in Finance:
SITAWI was engaged to design and monitor the implementation of the Environmental and Social Risk Management System (ESMS) at Banco Hipotecario, in El Salvador. The ESMS will cover the social and environmental risk management of the bank’s small and medium-sized rural and urban portfolios. Required by the Brazilian Central Bank since 2015, the ESMS is still at a nascent stage in some Latin American countries, despite its many benefits: an
Access to capital is a major challenge for social organizations and impact-oriented businesses. The first step for social entrepreneurs and innovative initiatives is to identify where they are within the ecosystem to seek the right kind of funding for their maturity stage. Leonardo Letelier, CEO of SITAWI, spoke on the theme at the Social Innovation Seminar, held by Oi Futuro in Rio de Janeiro. The event, held on July 18,
The global green bond market saw $81 billion issued in 2016. To accompany this trend, the Brazilian Development Association (ABDE), together with the Securities and Exchange Commission (CVM) and the Inter-American Development Bank, launched the Financial Innovation Lab on August 3. The aim of the Lab is to bring together different stakeholders in an intersectoral discussion forum to generate knowledge and foster financial tools for sustainable development. The event took
“I would like to challenge each of you to think beyond the present moment and imagine the next pages of the Brazilian history books in 2035. Will we write about lost opportunities, or describe how we are on our way to a more prosperous and less unequal reality, through innovation and creativity, despite the occasional challenges of the road?” With these words, Columbia SIPA professor Sidney Nakahodo opened his speech
Responsible investment is defined as the incorporation of environmental, social and governance (ESG) issues into investment decisions. The tools and approaches used to mitigate ESG risks and search for better returns were the subject of the webinar “Responsible Investment in Practice” carried out by SITAWI on July 18. The discussion was conducted by the managing director of SITAWI, Gustavo Pimentel, and Sustainable Finance consultant Carla Schuchmann. Sustainability professionals, business managers
The Rio Energy debenture issuance received a favorable second opinion from SITAWI and verification from its partner VigeoEiris, in accordance with the criteria established by the Climate Bonds Standards Board. The company, developer and operator of renewable energy projects, made its second issuance of infrastructure debentures in the amount of R$ 111.8 million, due in December 2028, to the Itarema Wind Complex in Ceará state. The amount issued was considered
Join us in celebrating SITAWI´s recognition as one of the best social organizations in Brazil! The first edition of the Best NGOs Award, an initiative of Instituto Doar and Revista Época, placed SITAWI in the list of Brazilian NGOs that stand out for their transparency, efficiency, quality of management and good governance practices in their areas of activity. “Being among the best NGOs in Brazil reflects our efforts to become
Over a year, Insolar was in the low-income community of Santa Marta, in Rio de Janeiro, developing the #makethefuture project sponsored by Shell. The social business, headed by Henrique Drumond, was supported by SITAWI Finance for Good for the development of the pilot project that allowed the expansion of the initiative and, consequently, the multinational’s incentive. Community areas such as day cares, churches, residents’ associations, samba school quarters, CRAS (Social
The Health and Education Integration Center (CIES, or Centro de Integração de Educação e Saúde, in portuguese) has been developing the Preventive Medical Program (PMP) since 2016 with the goal of strengthening the pillar of disease prevention, focusing on empowering the patient to manage his own health. The organization, supported by SITAWI through the social and environmental lending mechanism, has the mission of providing specialized, humanized and high technology medical
Education and green technologies are the topics with the highest incidence in impact businesses, according to the 2017 Impact Map. Conducted by Pipe.Social, a platform for connections for entrepreneurs, the study consulted 579 organizations with the intention of creating an X-ray of the sector and monitoring its evolution. There is a growing number of companies that have in their DNA the commitment to solve social and environmental problems. Among the
+Unidos Group – a partnership between the Brazil offices of US companies and the US Embassy through the US Agency for International Development (USAID) – launched two new English-focused language laboratories at UFPE – the Federal University of Pernambuco – and UFRGS – the Federal University of Rio Grande do Sul, aiming to reach more than 4,000 students this year. SITAWI Finance for Good is responsible for the financial management
By Andrea Vialli As a proposal which sparks the eyes of investors concerned about social and environmental issues, the green bonds were responsible for raising about US$ 81 billion worldwide last year. This amount is much higher than in 2015 when it added up to US$ 42 billion, according to statistics from the Climate Bonds Initiative (CBI), an international non-profit organization dedicated to fostering green bonds and climate securities markets.
SITAWI issued a favorable opinion on the classification of CPFL Renováveis debentures as a green bond. The utility company was the first in South America to issue a green bond certified by the “Climate Bonds Standard Board”. The debenture, in the amount of R$ 200 million, was issued in 2016 and the proceeds were used to build Campos dos Ventos and São Benedito wind power projects, with 231 MW of
The Brazilian Task Force on Social Finance (FTFS) has aligned 15 recommendations for the advancement of Social Finance in Brazil. One of the levers is the expansion of capital supply, bringing more resources to the field of Social Finance and Impact Businesses, reaching R$ 50 billion/year by 2020. One of these recommendations consists of the expansion and capitalization of Revolving Social and Environmental Funds (RSF). See below the article by
For fifteen years the “Feira Cultural Preta” (Black Fair) has been getting together experiences of entrepreneurs and creative companies in the city of São Paulo. The celebration edition attended by more than 120 thousand participants, 600 exhibitors from Brazil and Latin America and 500 national and international artists. In 2016, the event took place the first time in Rio de Janeiro, when celebrates the centenary of Samba, a musical style
Water has always been a valuable resource, but its relative abundance in Brazil means that society does not always value it. Recent supply crises in Brazil and world are driving society to understand that water management has become a key global priority. It is estimated that water abstraction will increases globally by 50% by 2050 (UN, 2014). A contemporary way of addressing the issue is the recognition of the water
How to enhance the work of including people with special needs in the labor market? In the last 5 years, the number of people with disabilities included in the labor market has grown more than 30%. Nonetheless, statistics shapes an exclusion panorama. According to the IBGE (the Brazilian Institute of Geography and Statistics) 2010, in Brazil, 45 million people have some type of disability (PwD) (physical, mental, visual or hearing
The 5th edition of the TOP 500 NGOs World pointed SITAWI as one of the most influential social organizations in the world. For the first time on the contest, SITAWI reached the 6th place in Brazil, 8th in Latin America and the 130th in the global ranking. “This result reflects the effort of SITAWI, over the years, in becoming a reference in efficiency and innovation in the Social Sector. We
In September 2016, SITAWI added another project to its portfolio, with the support of Ford Foundation, U$ 200,000 towards the maintenance of the Justice Forum. The Forum presents itself as an open space to organizations and social movements, academic sectors, students, public agents of the justice system as well, and other actors that shown interested to discuss justice as a public service. SITAWI’s role in this context is to provide
SITAWI is among the TOP 10 in twelve categories of Independent Research in Responsible Investment – IRRI 2016 ranking On Monday, February, 6, the results of the Independent Research in Responsible Investment – IRRI 2016, the most important and most recognized ranking of responsible investment in the world, were released. SITAWI Finance for Good was among the ten best placed in twelve categories, its best result since the first participation,
How about investing in profitable companies that also manage their social and environmental impacts? With this in mind, SITAWI supported Empiricus in identifying socially responsible companies with good potential in the upcoming months. The result was the report “Multiplier Actions, Sustainable Profits,” with a portfolio of investments for people who, in addition to making money, want to make their contribution to a better world. The work was the result of
By Rob Parkinson – ImpactAlpha As the host of two historic UN summits on sustainable development in the past 25 years, it should come as no surprise that Brazil is actively engaged in testing innovative approaches to reach the sustainable development goals. Supporting small and growing businesses (SGBs) can be an important part of this agenda, contributing to advances in education, healthcare, sanitation, clean energy, economic equality and sustainable cities,
Sao Paulo’s BM&FBOVESPA links ISE to SDG by Carlos Tornero | December 7th, 2016 Brazilian exchange BM&FBOVESPA will make it compulsory for the constituents of its Corporate Sustainability Index (ISE) to disclose their policies related to the UN Sustainable Development Goals (SDGs), which for the first time have been included among the criteria to participate in the index. It comes as the SDGs are starting to appear on the agenda of investors;
SITAWI participate in the Latin America edition of the Global Business Forum – GBF that took place on November 9 and 10 in Dubai. Leonardo Letelier, founder and CEO, talked about Finance for Good in an event that aimed to evaluate new investments and business opportunities between Latin America and Middle East and explore Dubai’s role in make easier to the next steps in trade relations between the two regions.
Christopher Cassidy, NASA’s astronaut since 2004, will be our guest for the second meeting of Inspiring Talks on November 24. It will be an intimate event for guests and a great opportunity to ask those questions you always wanted to know about space. Innovation, sustainability and his spatial experience will be the themes discussed by the American astronaut, follow by questions and a happy hour in our veranda. Guarantee your
The event reunited investor to discuss the social and environmental performance of the Corporate Sustainability Report Pioneers Working Group and had the presence of Gustavo Pimentel from SITAWI as mediator. The third edition of ESG Invest Briefing took place last Tuesday, October 17, at BM&FBOVESPA, in São Paulo. The event, organized by CEBDS, GRI and CDP, is part of activities from the Brazilian Commission for Integrated Reporting and had Gustavo
Requested by WWF Brazil, SITAWI produced two studies to guide the discussion and action for reducing deforestation in the Amazon. They are part of a series called Financial Flows With No Deforestation, WWF’s Living Amazon Initiative. The “Good Practice Guide for Financial Institutions” will assist in identifying and creating business opportunities against deforestation in Brazil and Colombia. The other study “Financial Opportunities in Reducing Deforestation” aims to help financial institutions
SITAWI Finance for Good has partnered with Recicladora Urbana, a specialized company in Logistic and Production Reverse in the disposal of Electronic Equipment and Telecommunications, looking to increase its environmental impact. Among the objectives are the provision of software and IT remanufactured from the REMAKKER brand equipment as well as meet the demand of disused equipment disposal for SITAWI and partner organizations. It will be an opportunity, thus, for our
By Beatriz Ferrari* Brazil climbed 14 places on the ranking of the world’s stock exchanges on disclosure of sustainability data, published annually by the Canadian financial research company Corporate Knights. The ‘Measuring Sustainability Disclosure: Ranking the World’s Stock Exchanges 2016’ report assesses 45 stock exchanges worldwide, representing 4,469 large publicly traded companies. BM&FBovespa showed a remarkable improvement, improving to 10th from 26th in 2015 and 24th in 2014. Around 70%
On August took place one more summit Metrics in Practice! The initiative, organized by ANDE e led by SITAWI, approached challenges and opportunities to entrepreneur when measuring impacts. Our Social Finance Analyst, Andrea Resende, commented the attendance of Plan and Plano CDE. The next one will discuss “how technology can help to reduce costs of impact measurement”.
Brazil climbed 14 places on the ranking of the world’s stock exchanges on disclosure of sustainability data, published annually by the Canadian financial research company Corporate Knights. The ‘Measuring Sustainability Disclosure: Ranking the World’s Stock Exchanges 2016’ report assesses 45 stock exchanges worldwide, representing 4,469 large publicly traded companies. BM&FBovespa showed a remarkable improvement, improving to 10th from 26th in 2015 and 24th in 2014. Around 70% of large listed
On August, SITAWI took part of the Social Impact Business Seminar, hosted by SEBRAE. The event reunited entrepreneurs to discuss about ecosystems and disclose the mapping survey carried out in Rio de Janeiro state, in which we are also part of. Our Fund Manager, Rob Packer, spoke about socio-environmental loans and mediate a discussion about how to take your ideas from the paper to the impact business sector. You may
In Brazil and in the world, the interest in business that conciliate changes and positive social impact and measurable social outcome is growing. SITAWI believes that measure this impact is essential to the development and to initiatives good performance, whether they are non-profit or for-profit. The course of Social Impact Measurement, created in partnership with Insper Metricis and the Institute for Development of Social Investment (IDIS), present a few assessment
SITAWI Finance for Good, with support of the Fundação Mott and Bank Information Center, will host the event “Socio-environmental Responsibility in the Finance Sector: public and private banks practices” on September 20, at Atântico Business Hotel in Rio de Janeiro. The event will start at 08:30 and it will have the presence of represents from BNDES, multilateral finance institutions, commercial banks e development ones, as well as consultants and civil
The Nuvem – Technology and Art Rural Station, with Sitawi Finance for Good endorsement, will select 5 proposals that will be developed at the Interactivos?16’ – a rural lab based in Serrinha do Alambari – Rj. This year edition has Water and Autonomy as themes and will take place between October 29 and November 12, 2016. Registration have been extended until September 9. Researchers, artists and developers from several areas
IDB hires consultant to advice the Goias Fomento in the execution of a financing line to energy efficiency
The Inter-American Development Bank is seeking a trained consultant in issues related to energy and/or energy efficiency to support the Goias Fomento Team in implementing a financing line for energy efficiency. Aside from this, the consultant must have a comprehensive understanding about how financial institutions operate, technology providers and energy services as well as its potential clients. This vacancy is destined to professional who have knowledge in the energy sector
Tailing dams are structures aiming to store mine waste and water from the milling process, which generates large amounts of waste. Typically, ESG analysis assesses the policies of mining companies for waste management. Brazilian miner Vale presented problems that could lead to operational issues in tailing dams, such as poor maintenance, internal erosion, extreme inflow, sub-standard construction techniques – mostly in old mines. In 2012 SITAWI, EIRIS’ Global Network Partner in Brazil, estimated that, among operational costs, environmental penalties and other sanctions, waste management risks could generate financial losses of around BRL 5 billion (USD 1.4bn).
The recent case of Samarco’s dam that collapsed in Brazil shows that waste management is key to the mining sector in addressing significant risks. The collapse resulted in the joint owners, Vale and BHP Billiton, dealing in the aftermath with fatalities and serious injury, health risks due to water contamination, community displacement and environmental pollution, as well as serious impacts on local biodiversity.
The Annual Dinner for SITAWI Supporters took place in Rio de Janeiro on May 20. The event had the participation of Arminio Fraga, special guest and supporter since 2011, and Leonardo Letelier, SITAWI CEO, and the conversations there included the themes of economic challenges of the country and the role of social finance. Guests had the opportunity to gain a better understanding of the organization’s work in a speech from Leonardo, the organization’s main supporters and a representative from Insolar, one of the projects that SITAWI supports.
To attract responsible investors, companies must learn to communicate their financial results integrated to their environmental and social performance. Last month, SITAWI trained more than 15 Brazilian companies on how to build concise presentations for institutional investors. Download the presentation here. (portuguese only)
On June 7, SITAWI presented its expertise on the growing market for green bonds to an audience in Brasilia made up of environmental specialists and Bank professionals. Companies and financial institutions can use these bonds to finance green assets and assets that benefit the climate. Check out our presentation: Green Bonds – a new instrument to promote green investments. (portuguese only)
Brazilian companies have many environmental investments to make, while investors are eager to purchase so-called green bonds. SITAWI has been working to foster this market in Brazil since 2014 through events and advocacy. We would like to congratulate BRF, the first Brazilian company to issue a green bond: €500 million! Find out more about green bond opportunities and check our presentation here.
This is the amount held in listed equities by Brazilian pension funds that incorporate environmental and social issues to an intermediate or advanced level. The data was presented by SITAWI at the ESG Alpha Event, last May. Globally, responsible investments now account for $21 trillion across all asset classes. Check this and more interesting insights in the Event’s presentations. (portuguese only)
Around 10.5 million Brazilians live in conditions of extreme poverty. These citizens are denied many of their rights and often survive through assistance from those touched by their precarious living conditions. The problem is that these donations tend to be sporadic, which explains Brazil being in the 90th position in the World Giving Index, behind much poorer countries like Afghanistan and Bangladesh.
In Brazil 24% of companies close after two years of operations (according to Sebrae’s 2013 census of entrepreneurship) and in the US, half do not last more than four years (based on the average of a number of studies). So why then do we insist on saying that nonprofits are not sustainable, despite the fact that some are more than a century old?
To waste one good crisis is sad. To waste two is unconscionable. But will investors in Brazil make good use of the apparently separate crises over water and corruption?São Paulo, a city where drinking water was, until recently, used to flush toilets, wash cars and clean pavements, has faced its worst drought for 84 years. The knock-on effects – hydro-electricity shortages, for example – could be dire. Why should Brazil, which produces 12% of the world’s fresh water, be so short of this critical resource in its most economically important city?São Paulo’s water utility, Sabesp, was asleep at the wheel, but, as with other preventable surprises, a lack of warning wasn’t the core problem. It was rather denial about plausible worst-case scenarios, and the undervaluing of prevention and resilience. As highlighted by Brazil’s most respected climatologists, “If deforestation in the Amazon continues, São Paulo will probably dry up – if we don’t act now, we’re lost”.
On corruption, Brazil has a strong legal framework and is seen as an emerging market role model. But it was ranked 69th out of 175 countries in the 2014 Corruption Perceptions index. As with sustainability, there is a big gap between ‘walk’ and ‘talk’.
New fund is established in international partnership for inclusion of women in technology and communication market
SITAWI Finance for Good has partnered with the European collective YOPO to create the “FEM-Innovation Social Fund: Women for ICT with Social Impact” to support the startup of a new kind of accelerator, the international Gendered Innovation Accelerator (GIA) in Brazil, one that will sustain and invest in the redefinition of Information and Communication Technology by supporting innovation with a gender lens. It is not just about correcting the gender imbalance among software coders, but to contribute to the constitution of a new mentality and, therefore, new opportunities in the ICT area. The Fund aims to raise R$ 1.5 million to support startups that will focus on redefining technology and communications from a woman’s perspective.
The CIES Project was developed to take specialized, humanized and high-technology preventive medical care to communities in need using advanced mobiles medical centers. It is a non-profit organization that focuses on serving low-income people – the population most deprived of access to quality medical care.
The NGO Centro de Assistência Social Nossa Senhora da Piedade (Caspiedade) is involved in at-risk community development in São Paulo, serving close to 1500 families with vocational training, food banks, and social services.
The Instituto para o Desenvolvimento do Investimento Social (IDIS) offers consulting and capacity building services related to impact investing to companies, institutes, foundations, families, and individuals. IDIS´ mission is to systematize different models of social intervention that contribute to reducing social inequalities in the country. In its 10 years of operating history, IDIS has supported 109 clients in the structuring of private social investments, trained 8,000 professionals, and created 18 impact investing organizations that currently managed 500MM Reais in social investments.
Founded in 1992, Davida´s mission is to protect the legal rights of prostitutes. In 2005 Davida launched Daspu, a social clothing brand, in an effort to make the organization more sustainable.
Solidarium is a social business based in Curitiba with a mission to “build a genuine Brazil, rich in diversity, not inequality” using a network of clients, ambassadors, artisans, cooperatives, artists and shops.
Imembuí Microfinanças provides credit to small entrepreneurs in Santa Maria (Rio Grande do Sul) who are generally excluded from access to credit from traditional financial institutions. In 2011, the organization had a year-end positive balance of R$70k after reporting a loss in 2010. It was able to obtain a subsidized line of credit from the Banco de Desenvolvimento do Rio Grande do Sul to open a new line of microcredit, but demand continued to exceed supply.
Feira Preta´s mission is to promote the social and cultural development of the black community in Brazil by promoting entrepreneurship and supporting artists and micro entrepreneurs.
Banco Palmas is a community bank that offers microcredit and capacity building to entrepreneurs, and helps build partnerships and supply chains for its clients. The bank is part of the Instituto Palmas that is an OSCIP created for the dwellers of Conjunto Palmeira (Fortaleza, CE).
Pipa Social is an NGO that created a talent bank of artists, artisans, and fashion designers that live in the favelas of Rio de Janeiro to help them access new markets.
Mobile Metrix is a NGO that was founded in 2010 with the objective of collecting data on the bottom of the pyramid. The organization aims to collect data on ‘invisible’ community members that are not accounted for in traditional research, and remain forgotten in the sectors of employment, education, and heath.
For a long time, the model for socially-aware executives was: “First I’ll earn some money, and then I’ll think about how to help other people”. The current generation doesn’t want to wait any longer. You can see this in the growth in management courses for the social sector with the ever-younger students. According to the Brazilian Geographical and Statistical Institute (IBGE), the Third Sector already employs 1.8 million people in Brazil and this growing trend should continue for the next ten years.
For Marcos Vaz, head of sustainability at Natura, also part of ISE, connecting companies with wider society is the way to get solid and long-term results. “We believe in the importance of mobilizing civil society to create an atmosphere for sustainable entrepreneurship. It is key to develop a model that achieves economic growth, social development and a sensible use of natural resources,” he told us.
Clearly, there is something wrong with this conversation: people introduce themselves by who they are (Maria Clara, for example); not by who they “are not” (Marcelo, in the previous example). The same thing happens for companies: Vale is a mining corporation and not a non-bank. If that is the case, then, why do we think it normal to talk about “non-profit organizations” rather than “organizations with social impact” or, simply, “social organizations”?
In the past five years, peer-to-peer fundraising (or social fundraising, fundraising for events or between friends) has more than doubled the amount raised online—and is close to reaching a billion US dollars.