It is increasingly common to hear this term and at ONE we include it not only as part of our narrative but as a core belief. Proof of this is that we deliberately use it as a kind of surname that accompanies the brand and reminds us every day that this is the new direction we must take. We recognize the value of philanthropy and the strength of solidarity, but we responsibly innovate to continue to be, from the social sector, the incubator of solutions to our greatest challenges.
If we adhere to the strict definition, social investment is a business or governmental practice that indicates that human, material, and financial resources are mobilized for the development of different social initiatives that generate positive impact in the communities and, of course, with the active participation of the communities themselves.
For many this is a new concept, for us it is rather a way of reclaiming philanthropy and using it as leverage for develop, evolving the issue of donations to position returns, whether financial, capacity building or reputational, at the centre of what we do. This undoubtedly requires the measurement of achievements through methodologies aligned with transparency and accountability.
Donations are often not as rigorously tracked because they are often understood as charity. Our conviction is that the time has come, as a country, to face a new discussion around social impact. We are amid a decisive decade, facing a watershed moment where the traditional philanthropy that we have known for years is being slowly replaced by the need to achieve more proven impact at a time when there is an ever-growing deficit when it comes to donations and support.
We need to talk about the effective use of catalytic capital, essential to solving some of the world’s most critical challenges. More patient and risk-tolerant investments; more flexible than conventional capital. It is essential to seed, scale and sustain impact because they help get projects off the ground and create a track record that can attract ever more capital.
Catalytic capital unlocks investments that would otherwise be impossible, expanding opportunities, strengthening communities, and driving innovation that benefits both people and the planet.
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We need action and there are many ways to achieve it.
It is time to unite around these great social challenges that persist in countries such as Colombia and for that we consider it pertinent to reiterate the conclusions of the most recent Impact Week in Turin, Italy:
- Build new impact funds and support existing ones.
- Create ever wider communities of impact agents and organizations for meaningful exchanges. This involved less egos and more collective action.
- Improve respectful dialogues in all public spheres.
- Spread impact stories that inspire and motivate others.
