PLACE-BASED MUNICIPAL INVESTMENTS
PLACE-BASED MUNICIPAL INVESTMENTS
In Spring 2022, Scale Institute and Thrive Impact Fund worked with students from the British Columbia Institute of Technology (BCIT) on a capstone project looking specifically at Vancouver Island municipal investments.
The questions posed were:
- Where are local governments currently investing?
- What are the gaps, barriers, and opportunities for local governments to invest locally?
Over a 5-month period, the BCIT student team conducted a literature review and secondary research, developed a place-based investment primer, conducted surveys and interviews, and produced a robust report with recommendations.
KEY FINDINGS FROM THE RESEARCH INCLUDE
- Survey respondents view place-based impact investing positively
- There is low to medium awareness and knowledge of place-based impact investment opportunities
- Current investment portfolios are not aligned to help address local needs
- Barriers to local impact investment include risk of financial losses, conflicts of interest and restrictive BC legislation
- Recommendations include increasing awareness through education, looking for partnership opportunities, and expanding Municipal Finance Authority offerings to include social and environmental outcomes