What is it about?
Social finance, impact investing, and technology are often seen as panaceas to solving wicked problems that threaten the world’s most vulnerable. From a social finance perspective, the role of central banks, retail and commercial banks, wealth managers, family offices, ultra-high net worth individuals, and large philanthropic organizations (collectively referred to as “big finance”) in social change is rapidly evolving.
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Why is it important?
We gathered frank, discerning, and inspiring insights into what works, what doesn’t, and what is being learned about social finance and impact investing to solve wicked problems such as those embodied in the United Nations Sustainable Development Goals (SDGs) (which define 17 global goals set by the United Nations Development Programme to transform our World). We discovered there is inconsistency in understanding the need for investors to gain perspective from the beneficiaries’ side by listening to the needs of the community at the grassroots level and adopting a different mindset where the individuals’ social needs are at the center of the investment model.
Perspectives
Drawing on our empirical research, we analyze the opportunities the new interest and commitment in social finance present as well as the potential harm that can be done to vulnerable people when beneficiaries are not treated as partners and the social needs of people are not placed at the center of the investment model.
Prof. Robert M Yawson, PhD
Quinnipiac University
Read the Original
This page is a summary of: Promise and Perils of Social Finance:The Impact of Big Finance & Tech on the World's Most Vulnerable, Academy of Management Proceedings, August 2019, The Academy of Management,
DOI: 10.5465/ambpp.2019.18585symposium.
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