Massive Opportunity Exists to Align Money with Meaning
Note: In honor of Social Venture Network’s 25-year anniversary, the network is inducting 25 of its most innovative and influential leaders into its hall of fame Nov. 13 at Gotham Hall in New York City. To recognize these sustainable business pioneers, SVN’s news program, ‘Sustainable Solutions,’ is interviewing the hall-of-famers to celebrate their accomplishments and learn what more needs to be done. Read the whole series here.
In the early 90s when Joel Solomon and Carol Newell launched Renewal Partners, they were the keepers of inherited fortunes and eager to find a place for their money that would help create the social change they wanted to see in the world.
They’d each fallen in love with Canada’s West Coast at different times and decided the Metro Vancouver region was the place to launch their mission with $10 million in seed money planted by Newell.
At the time, Solomon says they felt they were “late to the game of aligning money and meaning.”
His perspective has changed over the last 20 years or so, not in terms of the purpose behind Renewal Partners and its additional funding arm Renewal2, but in terms of where the social business movement is today.
“As it turns out, we are still barely at the beginning of a field that will change the face of the economy as next generations gain control of wealth,” Solomon says.
“The field of socially activated and transformational money is where organic foods were in the 60s. What’s needed now is a wave of bold creative entrepreneurs to build the products with integrity needed to meet a gigantic market demand that is emerging.”
Renewal Partners and Renewal2 are examples of social finance supporting the creation of a thriving economy built on the triple bottom line, where people, planet and profit are given equal consideration in the definition of business success.
For their leadership in the field and dedication to the growth of the movement, Newell and Solomon are being recognized by the Social Venture Network (SVN) as Fearless Financiers at the SVN Hall of Fame celebration in New York City Nov. 13.
“I’m humbled to be standing among some of the people I most admire and have learned so much of what I know from,” Solomon says, before eagerly passing along credit to his friend and partner.
“The vision and commitment of my business partner, Carol Newell, made it all possible,” he says. “She is a pioneer of wealth activation like none other. She deserves one thousand awards.”
He also stresses the importance of combining the enthusiasm and expertise of social business leaders through groups like SVN, which for 25 years has been linking some of the most dedicated minds and passions in the field.
“Pioneering organizations like SVN provide the lifelong learning, competence, and relationship gardens necessary to support and nourish change-agent entrepreneurs,” Solomon says.
“SVN’s model produces an infinite amount of love. Love plus competence is the ultimate success formula.
“I have been exposed to hundreds of the most visionary and capable people who have given their careers to making a better world through business that incorporates the externalities of community, ecology, and compassion.
“What a blessing!”
This article written by AxiomNews.ca is part of a Social Venture Network series featuring its Hall of Fame honorees.