National Programs
What CFs Are Doing: Community Foundations & Responsible Investing
Canada's community foundations are exploring how they can align the investment of their assets - not just the allocation of their grants - with their mission.
Interest in responsible investing (also known as mission-based investing or socially responsible investing) is growing as community foundations consider ways to leverage their assets to have an even greater impact on the issues that matter most to their communities.
"The Social Enterprise Fund gives us another way to assist charities in our community - beyond what we are able to do by granting 3.5% of our assets. It also enables us to invest directly in our own community." Martin Garber-Conrad, CEO, Edmonton Community Foundation
Although community foundations are relatively new to the field of responsible investing, their stories tell of a growing commitment from coast to coast to coast.
Edmonton Community Foundation
The foundation's $5-million Social Enterprise Fund (link here to story on CFC Local Stories section) is working well and inspiring others. The initial loans are all current, returning 5% to 6.5%, or paid in full so the foundation is now adding other financing products to its mix.
Hamilton Community Foundation
The foundation is investigating a plan for community investing and has approved conducting a responsible investment audit of its current portfolio.
Osprey Community Foundation
Serving the community of Nelson, British Columbia, the Osprey Community Foundation currently has 15% of its capital placed in a Socially Responsible Investment Fund, held by Vancouver Foundation.
In addition, all of the foundation's new donations will be invested in this fund. The foundation says on its homepage that they plan to "gradually move all of the foundation’s endowment capital into socially responsible investments.”
Community Foundation of Ottawa
The foundation has established a task force to review their investment policy and incorporate responsible investing. The foundation is interested in adding ESG factors as well as the potential for community investments. This process will include web-based policy development with a wider group including other community foundations and Canadian RI experts.
Vancouver Foundation
The largest community foundation in Canada, and one of the oldest, currently has a $12-million Socially Responsible Investment Fund in which donors can opt to place their donation. The foundation is also exploring potential options around community investment funds with economic and social returns.
Victoria Foundation
Victoria is reviewing its investment policy and planning educational sessions on responsible investment for its Board and investment committee.
Community Foundation of Whistler
The foundation currently holds a separate responsible investing account where approximately 5% of assets are invested. The Board is considering increasing this allocation and exploring additional responsible investment options as part of an overall investment review.
Find out about the range of activities included in responsible investment.
Or browse through our resources section to learn more about responsible investment.
CONTACT
Betsy Martin
Senior Advisor and Program Consultant
betsy.martin@sympatico.ca
514-488-3682