Canada at the forefront of Social Finance and indeed SIBs. Today’s SIBNews:
Minister Kenney Showcases Government Of Canada Leadership At Social Enterprise World Forum 2013
newswire.ca
In a keynote speech at the Social Enterprise World Forum hosted by the Trico Charitable Foundation, the Honourable Jason Kenney, Minister of Employment and Social Development today highlighted the importance of social innovation in addressing social challenges in Canada.
“Our government is playing a leading role in bringing together the private business and charitable sectors to find effective and results-oriented ways to increase the participation of marginalized populations in our communities and in our economy,” said Minister Kenney. “For too long, governments have imposed solutions to Canada’s social development challenges, while ignoring the innovative and successful approaches being developed in local communities and the private sector. Through social financing, the government can link civil society with those who want to invest in results-oriented projects in local communities to solve social problems.”
Social innovation takes proven ideas that work and applies them to pressing social issues while building relationships with new partners. This includes social enterprise and social finance, business and financial models with dual goals—to create positive returns for investors as well as positive economic and social outcomes for society.
In his speech, Minister Kenney took the opportunity to announce the launch of a literacy and essential skills pilot. The pilot will bring new and effective ways of generating employer and private investments to help unemployed and underemployed Canadians develop the literacy and skills they need to better connect to available jobs. Employers and investors will be reimbursed as they meet the objectives they established together. The pilot is expected to be active by fall 2013 and reach 1 600 low-skilled or unemployed Canadians seeking work across the country.