According to BlackRock CEO and Chairman Larry Fink, the next 1,000 unicorns – companies worth more than $1 billion - will be in climate technologies. What was once a fringe business is now a big investment opportunity that serves the dual purpose of addressing climate change while also driving prosperity.
In fact, while not all social innovation is profit-driven, many successful social enterprises are now maturing to the stage where they can transform industries and attract significant investment, either through funds, venture capitalists or corporate acquisitions.
At the same time, traditional investment funds are establishing vehicles around ESG and impact, and putting pressure on companies to show measurable impact.
This is creating unprecedented demand for education and research to help executives and organizations navigate an unfamiliar landscape where risk, reward and impact need to be assessed, understood and balanced with appropriate solutions.
“We have moved from the broader understanding or the intention segment of the purpose phase to realizing that, in practice, we have very specific challenges that are very technical and require a cross section of skills – skills that many companies don’t have,” said Farber, co-author of The elea Way: A learning journey toward social impact.