Dear Dr Doom, Dr Hope here…

Originally published in Portuguese for EXIT Magazine No27 “Change Management in the Third Sector: myth or revolution?”, Jun-Dec 2011, read original on pg 38 in Portuguese here, and English here

roubini.homeThe world is not ending but the world of finance is changing.

Nouriel Roubini, the economist who earned his moniker “Dr Doom” for predicting the financial crisis of 2008, asks “Is capitalism doomed?” in an article by the same name published in August this year.Read More »

Britain and Europe : There’s no need to be down and out in London and Paris (or Brussels for that matter)

Article for the ResPublica Fringe Magazine 2011 “Essays and Articles from selected political party conference partners” (download magazine here, article on pg 17).
2011, Jointly written for ResPublica by: Filippo Adarrii (Euclid Network) & Karl H Richter (JenLi Foundation) & Karol Sachs (European Federation of Ethical and Alternative Banks, Crédit Coopératif)

2008 in Paris at the height of the credit crunch, 75 years after George Orwell published ‘Down and out in London and Paris’ during the great depression, a congenial dinner time discussion about the fusion of market-based systems and solidarity principles set the scene for creating an integrated capital market for social investment across Europe. Read More »

Press release: Making Good in Social Impact Investment

Thursday 6th October 2011

UK at watershed moment for social impact investing with potential to be global leader

Social impact investment has the potential to evolve from being an emerging market to a very large, mature investment market attracting mainstream investors, according to a report published today. Making Good in Social Impact Investment: Opportunities in an Emerging Asset Class argues that the UK is well placed to be a global leader in the field, as social impact investment builds on our record as home to a well-developed, not-for-profit, charitable and voluntary sector and our historic strengths in financial services.

Available for download:

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Amazon Kindle (£0.77)

Apple iTunes (Free)

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England riots: what drives people into the streets

The underlying reasons for this apparent feral behaviour are complex and individual motivations will vary, but there are some underlying psychological themes which may help us understand why the rioting was so contagious and why so many people were compelled to join the looting and rampaging through the streets of England. These riots are not protests against anything specific, but they do manifest a collective call by people for improvements in their own lives. This problem, where it occurs, is so deep that it is plainly naive to expect that people caught up in it should know better or be able to help themselves. Read More »

Is social investing the Scarlet Pimpernel of the Vickers Report?

The Scarlet PimpernelSocial investing (equivalent to impact investing) encompasses such an increasingly broad range of financial activities and products, that some of it may be considered investment banking for the social sector. Examples include Social Impact Bonds and the sophisticate structured funds incorporating first-loss equity tranches, mezzanine finance and the provision of debt and equity underwriting. In the anticipation of UK High Street banks being separated according to retail or casino activities, on which side of the line should social investments lie?Read More »

The New Economy, Money and the Meaning of Life – not a Monty Python sketch

Featuring Charles Darwin, Ayrton Senna, Strawberry Fields, Steven Hawking, Shaka (King of the Zulus), Steve Wozniak and Karl Marx. There is a healthy dose of blue-sky thinking in this article. I have included some provocative thoughts in the spirit of stimulating a coffee-house style debate and have consciously permitted some naivety to freely explore the […]

Social Investment Funds – selected case studies

Originally prepared for Euclid Network, see here.

This short paper is intended as an introduction to the broad spectrum of Social Investment Funds, with the purpose of stimulating debate about the characteristics and variation of these funds.

There is an increasingly divergent interpretation of what constitutes a Social Investment, from low-level positive screening of Socially Responsible Investments (SRI’s) through to philanthropic funds which maximise social impact. With the publication of JP Morgan’s seminal paper Impact Investments: An emerging asset class” (29 Nov 2010), it may be most appropriate to begin by focusing on funds which could be classified within this context as Impact Investments i.e. “investments intended to create positive social or environmental impact beyond financial return”. Even within this narrow band, there is subtle variation between Impact-First Investments – which optimise social/ environmental impact with a minimum specification for financial performance – and Financial-First Investments – which optimise financial returns with a minimum specification for social/ environmental impact.Read More »

JP Morgan has heralded Impact Investment as a distinct asset class – but is there a fly in the ointment?

The publication of JP Morgan’s seminal report “Impact Investments: An emerging asset class” (29 Nov 2010) is the watershed proclamation that Impact Investment is going mainstream. In the wake of the 2007/8 financial crisis we should be encouraged when Nick O’Donohoe, Global Head of Research for JP Morgan, tells us “From our chief executive officer […]