Green Element weekly podcast Interview with Joel Solomon from Renewal Funds
Will: Welcome to the Green Element podcast. I am really excited to speak to you and learn more about what to do and help our listeners understand what it is and understand that there are other avenues of investment out there. If we could touch upon how you run your organization as well, your environmental management, your sustainability and then talk about how you help others and what it is that you do. Maybe we could talk about some exciting projects that you have got on. I was actually looking at the storm drain one. The op is Optic, I was looking through that, and that looks fascinating. Maybe because of my hat anyway, but yes.
Joel: Yes, the portfolio companies have lots of interesting ones particularly in the environmental technologies because in food, they are fascinating, and they are important. But it gets to be how many different forms of healthy food can you break and how far down the food chain do you go and what are the issues back at the farm. Anyhow, the technology side has a different scale of innovation.
Will: Yes, I mean, here is a question for you, do you think that we can rely on technology in order to achieve what is now being discussed as the one point five-degree targets?
Joel: I am not very helpful. We could but I do not know, it feels like we are in biblical times or something.
Will: I am only asking because I feel that it is not all about technology, it is all about people and technology. I think that we really need to work together on everything, we cannot just rely on technology.
Joel: I absolutely agree. The focus on technology will solve everything, of course, is dependent on the humans that created and decide how to use it and how to interpret it. If you ask me that question in the interview, I will say we really are in the process of a spiritual evolution that’s required in order for humans to even have the wisdom, the perspective, and the capacity to take on the challenge that we are in and most people are head in the sand.
Will: Yes, shall we start. If you could tell us a bit about your organization and about what it is that you do to help give us an idea of who you work with and the sort of organization you are, really.
Joel: I have spent my career, so to speak, it’s not a colorful one, but I have spent my career working on how money and business can be deployed for the good of the long-term and the well-being of humanity and ecology. I came to this some decades ago just through I think common sense somewhat driven by a health diagnosis that made me certain I would die, it said I would die sooner. I have a genetic kidney disease and I was told I could die soon or live longer but there was nothing I could do about it. Ultimately, that led me to look at what am I eating, what does the kidney do and then I thought about the role of money behind all of it and why the world was the way it was. My friend gave me her kidney 10 and a half almost 11 years ago now, so it ended happily, modern technology helped me. But in any case, all of this led me to look at the role of the kidney as a filter for what comes through our body. It made me start thinking about money as a potentially toxic substance, that if not handled well and with the right kinds of intentions, could do a lot of damage. So, that kind of simple personal engagement caused me to then decide that given the kinds of privileges that I had, my child of the immigrant father made some money and gave me all kinds of access. My mother was an important influence, is quite eclectic viewer of society and questioner things. In any case, well, the worst thing about privilege is to squander it and not use it for something that matters. So, I have been exposed to money, wealth and business and I want to spend my time understanding how it can be a force for good.
Will: That makes absolute sense and I am totally with you. I’m probably going to use colloquialisms that you may or may not be attuned to I mean, for example, the chattering classes. A colloquialism is a sustainability just a part of the chattering classes and I guess you have kind of talked about that slightly then because I do also come from a privileged background. I went to a private school and is that a bad thing? Well, my dad left school at 12, so no, I do not think it is because he builds a business and he absolutely wanted his children to even go to school, but he gave them the best education in his eyes as possible. Some people would disagree with private education and state school, which one is better, and I think our children will go to state school. I am getting off the point but what I am trying to get at, do you see through your eyes that it is everyone that is actually trying to become more sustainable because you are talking from the Canadian point of view and North American point of view. It would be interesting to hear your take on that.
Joel: Well, we have to divide a little bit and just to keep it at a high level I’ll say people that are living on less than a few dollars a day, which is still a lot of the planet, have got to be focused on survival and feeding their families and putting a roof over their heads. That is completely understandable, and it is really not my role to try to judge what they are doing because I understand that very well. My real message is to those of us that do have access and some affluence or at least the ability to accomplish it. I do not believe that is truly available to everyone. There are people that can pop out of almost anything through hard work and attention and good luck, many people are just thinking about survival. The upsetting thing is that people that have plenty act like they are living on survival and choose to stick with that rather than to go through the inquiry and consider how the world is working and what our responsibilities are. So, there is a growing awakening of people, the information age is hopefully helping that, we know more. We know where products come from, we can find out at least and we know that there is global crisis on all fronts.
I will not presume how old you are, but I have lived through the doubling of the global population, that is an unbelievable fact. So, not only have I lived through the doubling, but I have lived through the drive where we all want the very best, again, fully understandable. What we left out was responsibility for how this is going to be balanced well enough that future generations may have this, that other species will survive. Do the other species matter? Well, I think so because the world is interconnected, so business is one of the most powerful forces. We could talk about religion, we could talk about a few others, but business should have baked into its DNA, into its regulatory environment, into its very legal rationale that it has a responsibility to the commons and to the larger good. That should just be a given and it is not right now, so not everybody is thinking about it, some people are still thinking very short-term and self-centered. We have a political system that therefore is influenced to do less to take care of this, a regulatory system. We have all kinds of societal influences that push us to go to sleep about it. I maintain that this is something that humans, since the beginning of humans as soon as there was consciousness and maybe even instinctually as other species do, is to be sure the species can go forward and have a better life. We can have a better life and use money in business in a much more conscious, intentional and balanced way.
Will: Hence, why you’re a B Corp.
Joel: Yes. B Corp is one of the best things we’ve got right now to do a couple of things. Number one, signal, it is a signal to the to the community, to employees which have more and more opportunities to move around as they like. We do not have jobs for life anymore, we do not have the pension systems for everybody, so B Corp both gives a signal to the world about what we believe in and what we care about. Maybe more importantly, we have a methodology for checking ourselves and going through our practices.
I haven’t told you what my business is yet, but it’s called renewal funds and we organize at this point over a couple of hundred investors to pool their money with us. We invest it in companies in organic food, green consumer products or household products and environmental technologies. Our job is to represent them in their money to make an above market rate of return while doing something that matter, that protects, cleans up, makes less waste, makes more efficient, different parts of the food system, different parts of how we build out the world. The environmental technologies, green buildings, transportation, all of those kinds of issues. All of it can be done better and cleaner and there is plenty of money to be made, we are just stuck.
Will: Have you seen a visible increase in investors wanting to invest in more sustainable technologies and more ethical?
Joel: Absolutely. I came to this innocently as I hopefully conveyed in the earlier question, which was just through my heart and my passion and the best look I could have of the world and it led to a career. The first decade of that career there was a lot of nice padding on the head and well, that is very nice, but you are not really living in the real world. Well, when I started thinking about what to eat and I went to organic food and I started investing in organic food with some early resources that I had, I realized that this industry would probably, or I believed it would probably be unstoppable. Who would want to read ingredients that you cannot even understand and if you look them up you are going to get scared, feed them to your children, who wants to put that through their bodies if they have the choice. So, it looked like a pretty good bet to me, I was innocent and naive really, I mean, I was not a major finance person, but this is where I put my attention, maybe for personal reasons.
This industry has outgrown conventional food, what is now called conventional food since the World War II, Industrial Revolution etc. and it has made fortunes for many people. It remains well under 10% of the North American food diet and it has to be less than 1% globally. It is a big industry, it is only just started, big food is in trouble, big food is getting questions and its losing shelf space and consumers are waking up, workers are waking up. Environmentalists are about what the side effects go into the streams, rivers and into our water systems and then the healthcare system is waking up because what does that do to our well-being and cancer rates and things like that. This cycle gets pretty obvious if you think about it and the drive to clean up the food systems, take care of the soil, deal with what will be 10 billion people soon, is a great industry. If you go through a lot of sectors of society and just think it through there’s a pretty good bet to be made. B Corp just to finish that one helps the companies we get involved with to look at themselves as well. It helps us in our due diligence, it creates a sense of community around how do we all push each other to do better, the ratings and being rated best for the world. We are very happy when we get called best for the world as an investment fund, we get platinum ratings and all that kind of system, is designed to work on human psychology like mine and make me feel better for doing better and give me an advantage for talking about it, and it helps our companies we believe. I think I said this, we do not force them, but we strongly encourage, and we’ll support them with staff time and they are going to have to answer questions for us anyway because to get our ratings we have to get the ratings from all of them.
Will: Yes, that makes sense. Have you read reinventing organizations?
Joel: Remind me of the author.
Joel: I have not.
Will: You have not. I think you will find it really interesting. It gives you a number of examples across the world on not necessarily B Corps, but businesses and organizations with a purpose and what the common thread is and where we’ve come from. Have you heard of the word teal organizations?
Will: Orange organizations, so he uses that same methodology of communicating how it all is and it is brilliant. I mean, of all the business books I have ever read it’s definitely one of the best books in a way of articulating how successful an organization can be by driving exactly what you have just been talking about to its way of doing business.
Joel: I innocently ended up early in this concept and I found organizations and networks that put together the entrepreneurs, investors, advisers, and things like that that were attempting to do these kinds of companies. Some very well-known ones like Ben and Jerry, Stony field Yogurt, Patagonia, Body Shop, and many like that but they were all considered pretty flaky by the mainstream finance world. Now, there has been an explosion of networks, conferences, education, university, business schools are taking on courses and sustainability and this is growing very rapidly now. There is an infrastructure building out and I would say in our experience as an Investment group, three and two decades ago this was still really looked at as an outlier in a bit goofy. In the last 10 years, it is exploding forth and proof of concept is happening and now there are so many other funds that are talking about sustainability in one way or another or different dimensions. We might be talking about race, gender, all kinds of things that money is beginning to understand. We are in a great reformation and there will be strong, there are powerfully entrenched forces that do not like this. The good news, I guess, is many of them will buy their way in as they find out that this trend is unstoppable. I was talking about big food buying all the kind of hip, young, cleaner brands because their consumers want it, their employees want it and soon enough regulatory and other things will make it even more financially crucial.
Will: We see that trend, I guess, through the stock exchanges and the amount of organizations actually joining stock exchanges around the world, its dropping isn’t it? I think the London Stock Exchange I think it is dropping, there are not many organizations wanting to join it.
Joel: Well, entrepreneurs that we get involved with rarely are interested in that. It has to do with the machinery that you get put into to be on the stock exchange. The people that you start having to listen to and what it does to the values of your company because it’s basically money at all cost or at any cost. We are beginning to understand and think about questions like how much is enough? How big do I need to get? What is my real-life purpose? Is becoming a billionaire crucial, a hundred billionaire? Once you have money is it important to double it and why? What is it you are going to do with it later? A lot of people say I will give it away, very few ends up doing that.
I started asking a question to myself, I like the billionaire thing, I am susceptible to competition or getting ranked or getting validation, that’s probably the best thing and who does not like validation. When I thought about this in my twenties, which is now 40 years ago, I thought well billionaire is a nice word, that means you are successful, and you are important, and I thought well what else I could be a billionaire at? What about the billionaire of good deeds? What about the billionaire of love? What about billionaire of doing something meaningful? So, I was able to channel the kind of human instinct to compete, accomplish, and achieve, I think more towards at least a more balanced approach.
Will: Yes, I think that is very healthy as well, both mentally and physically to be able to think.
Joel: I think physically.
Joel: I mean, when you get a health diagnosis and you really think about it and you start doing research and you find out you start to question, well, how much is this about my emotional being? How much is it about my inner dialogue? How much is it about what activities that it goes on from there? I just suggest to anyone listening be sure and do that along the way. If you do it before you find out, you have some kind of a major challenge that is better.
Will: Yes, so what do you think your business superpower was?
Joel: That we are on a trend which is gigantic, which is meaningful, and which matters, and it is actually real for us, it is real. We care, and we want to be good citizens.
Will: Okay, brilliant. Can you tell us a bit about how you engage your staff, suppliers, customers? I mean, you have talked a bit about how you try and get the people that you invest in to become B Corps and go down that route. Can you tell us a bit about how you engage staff, suppliers, customers with your mission and purpose?
Joel: Okay. So, it is a big complex question. I will start with we think our biggest impact in this regard is those couple of hundred investors, their families, their friends, their advisers, their wealth managers. That looked like a very interesting way to try to effect change because money has got such lockdown around it with the sole goal being to maximize more money. To effect that you have to get into the DNA of where that comes from and who are pulling the levers and things like that. So, to prove that there are ways to make money, enough money doing it cleaner, better, more aligned with bigger issues, and do my best as a citizen to be part of political systems, to elect people who care about these things.
As an elder with kids and grandkids and a chance to influence students sometimes and things like that. So, how do you in every way attempt to affect it? Well, our investors many times are getting their first exposure to somebody with this premise. The good news is now they are more and more people present. So, first of all, we are affecting those ecosystems then by our very standards of how companies we are going to look at companies effectively. If you’re an entrepreneur, there’s one just kind of base level this you want to try to please the people where you’re going to get the money from, but more importantly you’re going to start to realize that these things matter and that the trends matter.
I like to think about our impact much more at that bigger scale the very story that we exist, the way that we do things and the people we touch along the way is a big deal. Then we have to bring it down to the very practical. The thing that is the most painful to me is travel, especially airplanes and all the shipping that is involved. As a climate-sensitive person, this is a serious conundrum and I believe that a day not that long in the future we will have more options on how to deal with that. So, I have to live with the contradictions and many other contradictions. With our employees, no one comes to work here, no one makes it through the hiring and screening. We are going to ask people, why do you want to work with us? There are plenty of bigger firms, things like that.
The fact that we wear our values visibly, inherently causes certain questions and causes people to think about these things we believe. Then we get down to the level of what are our practices every day and we are as imperfect as everyone else is. I walk around the office, I see lights left on. You can lecture and lecture and lecture, I watch the waste flow coming up. We do the things we can do the best that we can, you end up creating an ecosystem where the more that those values are the DNA of what you are about. You start to get pickier and pickier on yourself and probably the toughest on yourself, but it causes a lot of things to get done better. We carbon offset, we double carbon offset to deal with that but that does not really cure my wounded spirit about the responsibilities of those trade-offs.
Will: If it helps, I read that’s Easy Jets have invested very heavily into an electric plane company and I think by 2025 they want the majority of their fleet to be electric. So, free for them in some ways to fly around Europe, which potentially is the same as actually North America for internal flights around North America.
Joel: I am confident that unless foolhardy politicians get in the way of it, technology will continue to improve a lot of things.
Will: Yes, so when it comes to running a sustainable and ethical business, what would you say your biggest struggle so far has been and could you let us know how you have overcome it?
Joel: Well, our job is to produce returns for our investors. Then, of course, there is an understated competition out there because they are looking at other funds and things like that, so we have to be certainly respectable if not ahead of the pack on rates of return. We have to demonstrate more than that and we do it through ways I have already gotten to share with you here. Ask me the question again.
Will: When it comes to running an ethical and sustainable business, what would you say your biggest struggles were so far and how you have overcome them? You veered towards it with the travel actually, etc.
Joel: Yes. Well, the bigger struggle is what is clean enough and what is good enough? It is a very relative world and we do not claim perfection nor sainthood, we believe that we are in the trenches in an era of change. we are advancing many small and some larger things and we are doing a proof of concept and were normalizing and making a growing consumer demand. So, we are in a complex, difficult and challenging system pulling many levers on ourselves and through what we do. Hopefully, we are part of a much larger ecosystem of change that is underway, and I believe that is the fact. It is very difficult to live with the contradictions.
We went back where you and I talked about early privilege and so we are feeling somewhat noble because we did better things with our lives and that is true and good, but we are not perfect and we are not saints and there is a long way to go and we still cause a lot of damage. The biggest damage and the easiest to fix or an easy one, our name is on the money that comes through us, that we that we get, we hold, we invest, we deploy, we purchase. We are asleep as a species for the most part on that responsibility. The harsh statement I can say about it is there is often blood on the money that is in my pocket because I do not even know where it came from.
I am counting on blockchain and all of those smart people to someday help me know every step of the money that came to me and keeps me responsible for it on down the road at least to know where it is going. That is why I have chosen to focus on money, it is like the great under spoken if not unspoken. It is a deep loss of some kind of spiritual understanding of what life is and why life is. The global world religions do not help us very much on it, it is the global world religion now. How do I get more of it and that is going to make my life better? That conundrum is so big, if I am honest about it with myself the contradictions are layered and layered, but if we do not start asking, pushing ourselves, doing the best we can, and making conscious choices, it is not a pretty picture coming down the road.
Will: Here is a question for you. Someone comes to you and says I would like for you to invest in us, how do you end up deciding? What is the process that you have to decide yes this is an organizational company or business or technology that we want to go down because it is the right thing? Is there a blurry line? I am curious just to know how it works.
Joel: Absolutely. Just like everything else I have said, we have to use our experience, our judgment, our instincts, our commitments, our model and we do the best we can. The risk in the business I am in is that you are due diligence when you start to look into a company and decide where you are going to invest gets more intense and more intense, more questions, and deeper ones. That is a really good process for learning and to really test what you are made of, but we use our best judgment. So, we have a team, we have the intake and there is a group that looks at do we want to take this to the investment committee? We go to our investment committee, which is a good number of us, and we say, will we go forward further and how deep do we go and what are the key questions people have? So, in some ways it’s a really exciting and wonderful process and privilege to get to go through to have that deep of a look.
There is a power dynamic here that you want to be at least aware of because the power of money can make you into a tyrant, so how do you do that respectfully and reasonably and that kind of thing. All I can say is, I mean, I could call it a secret sauce, but it would be the personality of each business, each investor, each investment entity how it makes a choice. We put ourselves to the test of does this matter, does this product, service, or technology matter? Do these entrepreneurs actually care or they are just on a quick buck thing? Because our belief is that if they do not carry some consciousness and ongoing learning process about this, eventually their values will get superseded by the race for bigger money.
We want to be in business with partners who at least can have these conversations. We have done things like when a company sold looked at the situation and felt well the entrepreneurs have actually got diluted down too severely through their process of raising money. We want to see them get a little better reward and we have negotiated with all the other investors, to give a claw back it might be called, to be sure that they leave this after their 20 years of hard work with a decent amount of money. That is kind of heresy in investment to leave some back on the table but here is why it makes sense, we are in a big competition to find the best entrepreneurs and best companies. Who do they want to have, whose money do they want? Some of them just take what they have to but the ones that are the hottest do get to decide. Do they decide on how big a ride we can take them on, do they decide on a decent life, do they want to have investors they are at war with or they want to have investors they actually trust? So, we think that actually creates an advantage for us to be more thoughtful this way.
Will: That makes sense, brilliant. Is there one piece of advice you could give to help these people with their purpose and what would that be?
Joel: Well, I got lucky, some through birth. I mentioned my mother who was a huge influence of questioning everything. I grew up in the 60s, it was a time to question all kinds of stuff and that was helpful but really the health diagnosis accelerated me. What I learned, what I believe I learned, what I claim is that it is the inner skills, the emotional skills. How do you handle conflict? How do you deal in long-term relationships? What do you do under pressure? The psychological skills, which can tie into that, it is just a little different dimension. The mind and the tricks that can play on us or we get influenced by outside forces. Then I say the spiritual what is the spiritual? A sense that there is something bigger that precedes and proceeds, whatever that means to you. What is the divine, what matters, what’s the meaning of life?
I believe that those inner practices and learning are crucial, that a good human being is a gift to yourself that carries you to your deathbed and it makes all your relationships better. When I get asked this question at business schools, they are expecting what was the secret of your financial success and how do you know something like that? I always go to this because people around money are some of the more disabled in this part of life. Their relationships do not work that, their relationships with their kids are not that good, on and on. Look inside and make that a part of your lifelong practice because it will pay rich dividends at least in satisfaction.
Will: Fantastic advice. Giving to reducing your environmental impacts and carbon footprints, what would you say your biggest, single frustration was and is and the biggest challenge?
Joel: Well, the global food system has a deep environmental footprint now and we’re attempting to find companies that are working on the reform of that or taking responsibility for it so there are lots to say about that. I talked about shipping and all these product companies and there are trucks. You went down the highway and sometimes airplanes carrying food. So, the carbon and the climate costs that no one thought about until recent times and how deeply that is embedded in our economy and all of our economic activities, it is hard to be an individual, an individual business, or even a big one and solve all that. It takes ten million, hundred million, a billion flowers to bloom on this one, an awakening to happen that it matters, and we have to take responsibility.
The biggest frustration is the same thing that drives the biggest joy and why we do this and what is good about it is we are stepping into mental contradiction, emotional complexity and a certain kind of long-term responsibility. It is easier to stick your head in the sand, just not think about it. Just the complexity of what we are dealing with now, the power that we kind of sit on with being able to talk to each other, a continent apart right now. All the things it is just a very complex time and I could point to global political events, I could point to all kinds of things in the news almost daily now that raise these contradictions. So, I would say it is the moral and ethical responsibilities and how to do that, how to be a billionaire of good deeds.
Will: Is there any advice that you can give and share with our listeners?
Joel: Well, since I have done the inner skills one, I will move to it is going to matter more than meets the eye to have the DNA of your company and to have your own well-being and advancement as a human and to make it possible that a workplace provides that for people. Mobility is increasing for the staff you must want. We invested in a food traceability technology recently that eventually, of course, will be a swipe on every bar code that not only tells you where it came from. It helps, let us say the fast food industry when they have an issue with a health issue, they know which farm right away instead of closing down the whole western division or something like that. I believe that because everything is going to become more transparent, now we have in addition to just our own impetus that might for high-minded purposes get us to be a better person, there is going to be a track record out there and it is going to be visible. I said that about blockchain, I mean, I really look for the day where I am held to account for where I put my money and what it did to other people and places that I do not have to think about today, that is wrong.
Will: Yes. Do you invest in organizations outside North America?
Joel: US and Canada.
Will: Just US and Canada?
Joel: Yes. We are a group of 12 people right now, though we managed 98 million and that will soon increase with the next fund, its small in the world of capital. I like to point out that in North America alone, 50 trillion dollars is going to pass hands in the next three decades simply through death, will be inherited by younger generations. I call it a hundred trillion globally, I have no idea of the number. I did write a book called The Clean Money Revolution, Reinventing Power, Purpose and Capitalism, which tells some of these stories, talks about the growth of this industry and talks about the morals and ethics around the issues. Again, I forgot the original question.
Will: I was asking if you invested in, a lot of our listeners are going to be in the UK and around the world, so I think it is useful to know. Therefore, you are not bombarded by people going will you invest in me?
Joel: Thank you. Well, what I would say about that is it is all of our jobs. If we are consumers, we put money in a bank or we have a pension plan all those things but also for entrepreneurs to ask these questions of their investors. Don’t just take investors’ money because you need the money if you can help it because you want to be sure who you are in bed with, who your partners are, and what they are going to be like to deal with over time. If they’re not showing any sign right now of having even answers to these questions, obviously it’s more about thoughtfulness than it is about having the solution. I would encourage you to be very careful about taking money and you should do your own due diligence on who you’re taking money from.
Will: Yes, it is funny. We’re going through the looking for investors at the moment is not the reason why I was asking but it’s really interesting for me to have actually had this conversation. Having had a number of conversations because I went into this, we’ve got a new carbon foot printing software that is potentially going to change the way that organizations are able to understand the scope one, two, and three emissions. My worry when I first started thinking about investment actually, I did not want it. I did not want our ethos and our ethical miss as it were to be diluted. I have spoken to more people now and I am realizing that there are more people like you out there to be able to have conversations with because actually, if we really truly want to make the biggest impact, we need investment in order to do that. It was this kind of what do we do? Do we dilute, or do we absolutely dilute if you are working with someone you trust?
Joel: Well, that’s was my other statement, we only invest in US and Canada but this trend, this movement, this way of thinking is showing up all over the place. If you just start using your search skills, we want everyone to use your search skills and there are of course search words that can bring you to where there are investors at least talking about these topics. You can use B Corporation, there are standards starting to grow and you will increasingly find them. This is where human instincts are part of what I said about your inner skills. How do you hire, how do you marry, how to do date, how do you judge who to do business with? Take it really seriously.
Will: Yes absolutely. Well, thank you so much Joel for coming along today and it has been fascinating talking to you. We will put the links for your website and any other information that you want to share with our listeners on to the website and in the podcast show notes.
Joel: I would say renewalfunds.com, just see what our business is and then Joel Solomon.org if you are interested in the book and further thoughts from me.
Will: That is brilliant. Thank you so much for your time today. It has been fascinating and really interesting and really, I love how enthusiastic you are and I love the fact that as a person looking for investment, I know that actually, there are people out there and it is brilliant to know that you exist. It just gives us hope, doesn’t it, that you exist?
Joel: I just have to thank you for that comment.
Joel: It gives me hope that I exist, I am enjoying it.
Will: I bet you are. Alright, brilliant. Cheers.
We are thrilled to be interviewing Joel Solomon from Renewal Funds. Want to understand what a serial impact investor sounds like, what should you look for? How do you know they want the same as you? Listen to this episode and understand more about investment. Joel Solomon is a Founding Partner of Renewal Funds, Canada’s largest mission venture capital firm, at $98m assets under management. Investing in Organics and EnviroTech in Canada and the USA, Renewal Funds is GIIRS-rated, a founding Canadian B Corp (5x “Best for the World”), a “1% for the Planet” member, recognized as ImpactAssets “Top 50 impact fund managers.”
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