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Social Investment - Clann Credo

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Common Cents 2006

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10 th Anniversary Conference


ü What is Social Investment?

ü Budget 2005 – Government

Initiative

ü Next Ten Years

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Social Investment

“The provision of finance

by organisations, which

seek a social return or

social dividend, as well as

a financial return”

Social Finance in Ireland; 2003

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Ethical Investment

V’s

Social Investment

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Social Investment

Different from mainstream

üMission

üValues

üVision

üIdentity

üBehaviour

üEnvironment

üMethod

Method

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Mission

Social Justice

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Values

Investment policy aligned

with Investors’ values

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Vision

• To increase the stock of

Social Capital

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Identity

• Funding activities and

people that benefit

communities and society

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Behaviour

• Priority to organisations

and individuals most

excluded from mainstream

services

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Environment

Social Financiers operate

in an environment of

poverty, social exclusion

and/or difficult access to

financial services

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Method

• Use of financial

instruments to achieve

sustainable and equitable

development

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Effective

ü Creates a relationship based

on equality between funder

and recipient

ü Promotes interdependence

ü Monies repaid available for

future projects

ü Sustainability

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Commitment

Government

will examine ways to

support expanded activity of new

funds in consultation with the

relevant interests

- Sustaining Progress - National Partnership

Agreement 2003-2005

2005

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Budget 2005

• To give an impetus to the development of

Social Finance in Ireland

• Complementing measures in place to promote

and assist community infrastructure and local

development

• The need for new and innovative investment

mechanisms such as social finance

• “The essence of the social finance concept is

repayable loan financing provided at affordable

terms for community-based projects and local

development initiatives.”

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Highlights

Banks committed €25m

Three distinct tiers in the delivery of the initiative:

1. The creation of a social investment vehicle - a

wholesale financial intermediary, specialising in

social finance funding.

2. On-lending of the funds for individual projects -

use existing agencies and social finance

providers.

3. Community & local development organisations

developing individual projects for social finance

support.

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Next Steps

• Practical model for social

finance funding is being

developed.

• Consultation with public, private

and voluntary bodies

• Early implementation of the

initiative.

• This will provide the opportunity

to market test particular options

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Social Finance

Practice

All investments

üSocial Return

üFinancial Return

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Social Dividend

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Social Dividend

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SDI by Region

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The ‘Village’ Community

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Joint Initiatives

Clann Credo






Western Development Commission

Waterford LEDC

Kosova Enterprise Programme

Integra

National Travellers MABS

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Social Housing

ü Tulsk Voluntary Housing

ü Rathmore Social Action

Group

ü Clár IRD

ü Kilmaley Voluntary Housing

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ü

ü

ü

ü

ü

Why Clár chose

Clann Credo

The need to finance at a competitive rate

The need for flexibility

An understanding of the concept

A recognition of the beneficial effect on

the local community

An appreciation of the voluntary

community involvement in the project

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Projects Assisted

140

120

100

80

60

40

20

0

1997 1998 1999 2000 2001 2002 2003 2004 2005

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Innovation in

Financial Instruments

Duagh, Co Kerry

ü Clann Credo purchases

building for local group

ü Lease and right to purchase

ü Eldercare services in Duagh

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Support to Sector

‣Consulting

‣Training &

‣Mentoring

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Areas Covered

- Roles & Responsibilities of Directors

- Company Formation

- Employment Law

- Marketing

- Staff Recruitment

- Interview Preparation

- Managing Staff

- Financial Control Structures

- Accounts Management

- Conflict Resolution

- Consensus Decision Making

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Ten Years

‣Additional tool in fighting

exclusion

‣An option for Philanthropy

‣More than loans

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Daring to Dream

“A A world where the systems and

structures of finance meet social

needs as well as securing a financial

return.

In other words where the dream and

vision of ‘Justice and Equity’, , are

actualised through finance.”

- Sr Magdalen Fogarty Founder

Clann Credo 1996

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Last Words

“We owe a debt to the religious

congregations for their vision

and foresight….and who have

provided the wherewithal

which built up the capacity of

a new trusted catalyst in the

provision of social finance”

– Mr Dermot McCarthy,

Secretary General to the Government

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Thank you!

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The Social Investment Fund

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info@clanncredo.ie

www.clanncredo.ie

+353-1- 400 2100

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