Presentation at the ANSER conference in Montreal on June 2, 2010. Provides an overview of the Canadian social capital market; the trade-offs between risk, return and impact; Canadian investors’ perspectives on social finance; and emerging opportunities.

1. Investing for Impact: Issues and Opportunities for Social Finance in Canada Karim Harji & Tessa Hebb Carleton Centre for Community Innovation Carleton University, Ottawa ANSER Annual Conference Montreal, Quebec 2 June, 2010 1

3. The trade-offs between risk, return and impact

4. Canadian investors’ perspective on social finance

5. Emerging opportunitiesDefinition Social finance is the deliberate and intentional application of tools, instruments, and strategies to enable capital to achieve a social, environmental, and financial (“blended value”) return. 2

6. Elements of a Social Capital Market 3

7. The Social Finance Continuum 4 Sources: F.B. Heron Foundation and Jessica Shortall (2009) “Introduction to Understanding and Accessing Social Investment”

10. Opportunities must be at scale large enough to justify due diligence

13. Utilize the broader range of foundation assets

14. Create innovative financial vehicles

15. Build legislation that fosters an enabling environment

16. Develop social impact metrics7

19. Thank You! Karim Harji karim@socialfinance.ca Tessa Hebb thebb@attglobal.net www.carleton.ca/3ci www.socialfinance.ca Presentation available at: www.slideshare.net/kharji 9