Local stock exchanges once were common but faded as face-to-face trading shifted to electronic platforms and the biggest U.S. stock-exchange operators acquired smaller rivals. Among the few remaining exchanges, the former Philadelphia Stock Exchange is now an options exchange owned by Nasdaq OMX Group Inc. A minicomeback might be around the corner. In April, Hawaii lawmakers agreed to begin examining the state's securities laws to possibly create a "locally focused, Hawaii-based stock exchange." David Fisher, an economic development and business consultant involved in the effort, says the electronic-only exchange would help Hawaiian investors keep their money closer to home, while connecting local entrepreneurs with capital. Honolulu's stock exchange shut down in 1976. In Toronto, organizers of the Social Venture Exchange, or SVX, are expected to launch this summer a specialized exchange to link institutional investors with local companies having a social or environmental impact. The fledgling market is backed by Toronto Stock Exchange owner TMX Group Inc. Local exchanges are also in the works in Europe, Africa and Asia.

U.S. federal, state and city governments are moving toward testing a British idea for social programs: pay only if they achieve desired results

As the prime minister re-launches his big idea – the Big Society – it seems an appropriate time to ask ‘what is the Big Society and what it could it be?’ To the government it would seem to have several key elements ranging from individuals and families taking more responsibility for their lives to opening the public service provision up to social enterprise and the community and voluntary sector.  To some ministers and others the term ‘Big Society’ seems to be a useful badge for a new policy or initiative.  For some it does appear to be a camouflage for a deliberate pursuit of a ‘smaller state’, less regulation, fewer public sector employees and public expenditure cuts.

The Sustainable Stock Exchanges is an initiative aimed at exploring how exchanges can work together with investors, regulators, and companies to enhance corporate transparency, and ultimately performance, on ESG (environmental, social and corporate governance) issues and encourage responsible long-term approaches to investment.

The Big Society agenda can and must be one of growth, says Asheem SinghWhen scores of activists converged on Parliament Square to protest against tuition fees, organised through social networks and through parent groups like UK Uncut and the NUS, we were given a glimpse of what the Big Society's vision of autonomous, self-organising communities might look like. It was not a particularly edifying sight, what with the criminal damage and the violence, yet for David Cameron the Big Society remains his mission in politics.

The Barnett Government's Budget announcement of a big injection of funds for the non-profit sector in WA sounds like a great idea - we all know organisations such as the Salvos are run by nice people who do a great job and who could use some extra money.Before we get too excited, however, there are a few lessons to be learnt from looking at the effects of similar policies elsewhere.

Investing money to make a difference goes by several names, with "ethical", "impact", "green" and "socially responsible" among the industry favourites. But the definition is generally the same: returns are usually sacrificed in the name of doing good. This view is set to change, according to a report titled Impact Investing in Emerging Markets, by the consultancy Responsible Research.

The report has found impact investing in emerging markets is becoming more attractive to fund managers, private equity companies and retail investors worldwide, because the returns are now more compelling. The research cites a survey by the Global Impact Investing Network which found investors anticipate a return of between 20 and 24 per cent this year on their interests in impact companies working in emerging markets.

Sarona Asset Management announced today that its Sarona Frontier Markets Fund I LP has committed US$3,500,000 to two private equity funds: US$2,000,000 to the South Asia Clean Energy Fund and US$1,500,000 to the Fanisi Venture Capital Fund.

A brace of £1m debt finance deals is just the beginning of a much bigger plan to take banking services to excluded communities, Faisel Rahman tells Chrisanthi Giotis The business case for social enterprises lending small amounts to the poorest people in the UK is about to be seriously tested as east end lender Fair Finance partners with global financial powerhouse Santander.

Santander is the latest big bank to invest in Fair Finance putting in £1m in debt finance, to follow the £1m debt finance Fair Finance raised from Societe Generale and BNP Paribas – this earlier deal last month was possibly the first commercial deal of its kind for a personal finance community lender in western Europe.

Ben and Jerry's ice cream sold to Unilever and Seeds of Change sold to Mars in the US. Closer to home, The Body Shop sold to L'Oreal and Green & Blacks sold to Cadburys.

The sales of these businesses have certainly generated rich financial rewards for the entrepreneurs that founded them but have done little to further the social missions of those businesses. The argument that somehow the positive values and social intent of these companies percolates through the multinationals that bought them is nonsense akin to trickle down economics. It also ignores the fact that these social businesses were acquired for commercial reasons and for their potential to generate significant profits into the future.