Social impact and impact finance: resources and analysis to understand what they are and how to achieve them through the NRP and European funds.<\/p>\n
<\/p>\n
We have already devoted space to the link between economics, finance, social impact and European funds, presenting some <\/span>\n in-depth guides<\/span>\n<\/a>, the new <\/span>\n Action Plan<\/span>\n<\/a> of the European Commission and the main <\/span>\n European funds and programs<\/span>\n<\/a> referred to this area. To pick up the thread of the topic, let us recall some typical concepts in this area, which are interrelated but distinct.<\/span><\/p>\n The concept of <\/span>social economy<\/b> includes all activities that are aimed-rather than at profit-at seeking a positive impact on society and the community. L’<\/span>social innovation<\/b> is instead the area in which approaches to addressing important social needs emerge and are tested, creating new forms of organization and collaboration. Social economy enterprises are thus an expression of-but also the bearers of-social innovation. <\/span><\/p>\n The <\/span>social finance<\/b>, the <\/span>social impact finance<\/b> or more simply the <\/span>impact finance<\/b> o <\/span>\n impact investing<\/i>\n<\/b> is the more specifically financial domain of the social economy, which uses investment and capital to combine economic returns with positive social impacts. Impact finance uses a variety of tools: tools called <\/span>of debt<\/b> such as bonds and <\/span>\n bonds<\/span>\n<\/i> (in which financing is repaid with interest) and instruments called <\/span>of <\/b>\n equity<\/i>\n<\/b> such as <\/span>\n venture capital<\/span>\n<\/i> e <\/span>\n private equity<\/span>\n<\/i> (in which the financing represents an entry into the capital of the company).<\/span><\/p>\n To further explore and contextualize this concept, we recommend <\/span>\n one of the first and most important Italian reports on the subject<\/span>\n<\/a>, which traces state of the art and perspectives of<\/span>\n \n impact investing<\/span>\n <\/i>\n<\/a> in our country.<\/span><\/p>\n The theme of<\/span>\n impact investing<\/span>\n<\/i> is very relevant in the field of <\/span>philanthropy <\/b>(of which <\/span>\n impact investing<\/span>\n<\/a> represents one of the most promising forms of intervention) and is central in one of its most modern declinations (the so-called <\/span>\n \n venture philanthropy<\/span>\n <\/i>\n<\/a>).<\/span><\/p>\n In addition, the theme of<\/span>\n impact investing<\/span>\n<\/i> has a double connection with the <\/span>European funds<\/b>:<\/span><\/p>\n The <\/span>PNRR<\/b> and the Recovery Facility constitute a <\/span>“change of pace”<\/span><\/a> from both points of view, in that: 1) they are largely based on the implementation of <\/span>investments<\/b>, the resources of which are drawn through the creation of “<\/span>bonds<\/b>Community ” bonds and are partly given to the member states in the form of <\/span>loans<\/b>; 2) the overall reporting of their resources is not based on expenditures made, but on the <\/span>results<\/b> achieved.<\/span><\/p>\n The association between financial instruments, social impact and European projects, however, is more generally and has always been quite natural. European funds and programs are in fact a <\/span>investment<\/b> made by European institutions to achieve a <\/span>social impact<\/b> (also defined, in this specific area, in terms of “<\/span>\n community added value<\/span>\n<\/a>“). Consequently, each <\/span>European project<\/b> must represent (and be conceived as) a concrete proposal for achieving social impact.<\/span><\/p>\n In Italy there is a specific network dedicated to impact finance, called the <\/span>\n Social Impact Agenda for Italy<\/span>\n<\/a> (or “SIA” for short). The SIA “<\/span>brings together investors, social enterprises, market builders, and philanthropic institutions to realize a new economy, one that can combine economic sustainability with positive social and environmental impact<\/span><\/i>“. It “<\/span>\n represents the Italian Advisory Board of the Global <\/span>\n<\/i>\n \n Steering Group for Impact Investment<\/span>\n <\/i>\n<\/a>\n (GSG), an independent organization, spread across 33 countries, committed to promoting and accelerating the spread of impact investing globally<\/span>\n<\/i>“.<\/span><\/p>\n His <\/span>\n brochure<\/span>\n<\/a> explains its mission and effectively clarifies, with diagrams and examples, the most important concepts related to impact finance. Which is not only an area of expansion or potential, but also a new <\/span>economic paradigm<\/b>.<\/span><\/p>\n Social Impact Agenda for Italy proposes <\/span>\n publications<\/span>\n<\/a>, <\/span>\n position papers<\/span>\n<\/a> e <\/span>\n webinars<\/span>\n<\/a> (<\/span>\n including one<\/span>\n<\/a> devoted to the link between impact finance and NRP). The content he develops and publishes on his website is a useful source of information on this topic: we analyze some of them below, those most relevant to the field of europlanning.<\/span><\/p>\n <\/span>\n<\/a>This <\/span>\n position paper<\/span>\n<\/i> provides a definition of the field and discusses its history, prospects and some case studies in Italy. Then presents the evolution of European policies in the area of social innovation and the <\/span>\n social investment<\/span>\n<\/i>, the link between these issues and European funding lines, and some experiences (such as <\/span>\n this<\/span>\n<\/a>) of joint use of European funds and social innovation tools. He then anticipates some of the <\/span>\n novelties in this programming period regarding social innovation.<\/span>\n<\/a>, with special reference to the InvestEU program and the introduction of results-based forms of financing.<\/span><\/li>\n <\/span>\n<\/a>This publication analyzes whether and how the experience of the <\/span>\n Social Impact Bonds<\/span>\n<\/i> can be tested and replicated and within the NRP. He provides an affirmative answer, emphasizing how impact assessment methods and leverage given by private capital, typical aspects of impact finance, can accelerate the transformations advocated by the NRP. The study analyzes the synergies, potentials and risks of the<\/span>\n impact finance<\/span>\n<\/i> and the <\/span>\n Social Impact Bonds <\/span>\n<\/i>(with some European case studies), providing options and recommendations for testing this tool in the PNRR framework.<\/span><\/li>\n<\/ol>\n Even with all the slowdowns induced by the current political situation, the NRP remains a unique opportunity for Italy: it is an innovative tool for which it is correct and necessary to evaluate innovative methodologies, such as impact finance.<\/span><\/p>\n The same methodologies have points of contact with European funds and can be an important source of inspiration and funding for all actors orbiting the nonprofit and social sector-we hope this review will help bring new ideas and new perspectives to their activities.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Social impact and impact finance: resources and analysis to understand what they are and how to achieve them through the NRP and European funds.<\/p>\n","protected":false},"author":8,"featured_media":30285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[731,2199],"tags":[2320,2335],"class_list":["post-22407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive-archive","category-archive-news","tag-news-en","tag-sector-nrp"],"acf":[],"_links":{"self":[{"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/posts\/22407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/comments?post=22407"}],"version-history":[{"count":1,"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/posts\/22407\/revisions"}],"predecessor-version":[{"id":33753,"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/posts\/22407\/revisions\/33753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/media\/30285"}],"wp:attachment":[{"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/media?parent=22407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/categories?post=22407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euknow.it\/en\/wp-json\/wp\/v2\/tags?post=22407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The link between <\/b>\n impact investing<\/i>\n<\/b> and European funds<\/b><\/h2>\n
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The role of Social Impact Agenda for Italy<\/b><\/h2>\n
Impact Investing and EU Funds: a thematic review<\/b><\/h2>\n
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