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.

 

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25 comments

Ruth R.
Ruth R.3 years ago

"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.”
It would be nice to be one of those bold new entrepreneurs.

Dorothy N.
Dorothy N.3 years ago

This is wonderful - people like this are so unfortunately rare, but philanthropy seems often to have so many residual effects that the good it does keeps going.

J.L. A.
JL A.3 years ago

The article title says what aligning values with actions is all about

Terry V.
Terry V.3 years ago

thanks

Charli S.
Charlotte S.3 years ago

I wish I had money to invest but my husband and I are working hard to make our 2.5 acres produce enough food to feed us, our animals and people in need. There is a Jewish tradition in which you take a portion of your garden and donate it to the poor that we'd like to be able to practice. We're very lucky to have great water rights so right now we have enough water to keep things going. I hope other remember that even if you have no money to donate you can volunteer (volunteers are a huge resource to any not for profit or charity) or you could teach a skill such as sewing, housekeeping, cooking, canning, budgeting, etc. There are always ways of making this world a better place one act at a time.

a             y m.
g d c.3 years ago

ty

Emily S.
Emily S.3 years ago

Yes, I am very interested in investing in more companies that align with my beliefs, I am just not sure how to do that. I hope more information on making that easier to do comes to light.

Sonya Armenia Redfield

Thanks

Charlotte A.
Charlotte A.3 years ago

Yes, changing the focus from greed, to improving lives, and the economy. Thank-you.

Heather M
Heather Marv3 years ago

Thanks a really interesting article. It isn't money that is the problem because money is a tool to be used and can be used very wisely to make a difference in the scheme of things as suggested in this story. It is the love of money that is the root of all evil. When money becomes a commodity for greed, to gain only for ones own means- at the exclusion of the needs for others -should one be in a position to help others in need. Its about balance and unselfish giving that can make a difference in the lives of others. Money in fact can do so much good and when the economy fails it is often the poor who suffer the most. May these innovative people and others like them keep on doing so much good.