Social Impact

Everyone’s dear old pal, Yelp, is here to help.

How will Yelp add in COVID compliance? crowdsourced through customer input

Will Yelp track only restaurants? Nope, Bars and other businesses too

Engadget | Yelp will tell you which restaurants aren’t following COVID-19 guidelines

Eater | Yelp Will Now Display How Well a Restaurant Is Observing COVID-19 Guidelines

@Eater

When was the initiative announced? June 2020

What’s the goal of the initiative? help reduce barriers and opportunities for people of color across the country

What did Apple CEO Tim Cook say? We are all accountable to the urgent work of building a more just, more equitable world — and these new projects send a clear signal of Apple’s enduring commitment,”

What funding has been announced?

• Propel Center, an Atlanta-based innovation and learning hub for historically black colleges and universities
• Will found a Detroit-based Apple developer academy to support coding and tech education
•  Invest in New York-based Harlem Capital, which focuses on diverse entrepreneurs. 

What about Apple’s diversity? 53% of new hires in the U.S. are from historically underrepresented groups in tech including women and people who identify as Black, Hispanic, Native American or Native Hawaiian & Other Pacific Islander

Austin American Statesman | Apple says it will spend $100 million to promote diversity and racial equality

Where:Israel

How is the crowd funding for the social impact bond working?

• 1.6 Million in funding is anchored with investors and philanthropic funds
• 700,000 will be crowdsourced

What’s the social impact? To improve the life of 200 seniors in Televiv over 2.5 years to help with loneliness, quality of life and community

How does COVID factor in? COVID has exacerbated these challenges in the senior community

Pro Bono Australia | World first crowdfunded social impact bond launches

Who is focused on men’s sustainable fashion?  Seasons, a men’s rental platform that launched in New York in 2019

How much did Seasons membership grow in 2020? 800%

How does the company say Seasons fits the new economy? “There can be an alternative to traditional ‘ownership,’ where you’re creating opportunities for people to be a part of something without committing to it.”

Is it expanding in 2021? Yes, it will link directly to fashion brands e-commerce sites for purchase

Vogue | This Men’s Rental App Is Rethinking Fashion’s Sharing Economy

The App: Cluster

How does Cluster work for brands?

• “Brands partner with CLUSTER
• To give purpose to their marketing campaigns
• Uniting with Creators and individuals to champion social causes and drive positive change in the world.”

How does Cluster work for creators?

• “Creators use CLUSTER to (partner with Brands)
• To turn their passion for social causes into actionable events
• That drive positive change in their communities and the world.”

What’s the short hand in all this? Helps amplify causes by using your digital networks

KLTA 5 | New platform ‘Cluster’ aims to promote positive social action

Meet Helping Hands Community, an app that connects volunteers to food banks and social service organizations.

What does Helping Hands Community offer? streamlines how food banks and social service organizations deliver food, medicine and other necessities to senior citizens and those who are immunocompromised

Who is delivering to those in need?

• Volunteers sign up in the app to deliver goods to people in their local communities.
•  The APP also connects service providers to drivers with ride-sharing applications such as Uber and Lyft

How is the app structured? It is a nonprofit platform is completely volunteer-run with about 150 people from companies such as Google, Apple and Amazon

The Bulletin | Bend man creates online platform for those in need during pandemic

It’s the perfect time:

• NASDAQ has new diversity requirements for listing
• Securities & Exchange Commission have new proposed rules on ESG investing which includes a diversity component
• Impact of COVID
• Impact of Social Justice Issues like Black Lives Matter

What do most corporate boards look like? “male, pale and stale” 

Deadline has a great overview of diversity on media corporate boards.

Deadline | Corporate Boards Will Get More Diverse In 2021 With Social Justice Jolt, New Regs, Covid Impact

MIT Sloan School has identified the behavioral practices necessary for leading in the new economy.

What will leaders in 2021 need to be?

• empathy
• authenticity
• curiosity
• resiliency
• mindfulness
• being purpose-driven
• guided by analytics and data
• trust
• integrity
• straightforward communication
• role modeling

@MITSLOAN

Where: Los Angeles based

Why now? “Companies and investors across all sectors of commercial real estate — and the financial institutions that fund them — pledged billions to close the racial wealth gap and work to undo the financial legacies of systemic racism. “

How will the funding work?

• Black Impact Fund $1 Billion
• $500M for qualified opportunity zones
• $500M fund for projects near but not in those federally designated areas
• asset appreciation and fees earned to fund the affiliated nonprofit Black Impact Community Fund

Bisnow | LA-Based Fund Aims To Raise $1B For Investments In Black And Brown Neighborhoods

Congressman Andy Levin (MI-9th) legislation looks to have retirement benefits, like in pensions, reflect an individual’s social and political values.

What would legislation require?

• retirees would have be given information about ESG options
• investment managers would also have ESG-oriented financial portfolios available

How are ESG portfolios performing? Generally outperform their counterparts

WDET | Congressman Andy Levin Introduces Legislation Aimed At Sustainable Investments