Our current economic systems are extractive and unsustainable, maximizing the wealth of the few over the wellbeing of all and prioritizing short-term gains over long-term sustainability.

The Skoll Foundation supports social innovations that create more inclusive economic systems and advance economic dignity for the marginalized. Solutions to achieve these goals include shifting institutional practices and policies and ensuring equitable access to capital without sacrificing our planet for profit.

Supporting Practice Shifts

In 2020, we supported a range of initiatives focused on shifting corporate, government, and private sector behavior and helping to build the power of communities most economically impacted by COVID-19. The Health Initiative aims to shift billions of dollars into drivers of health outcomes—including access to food, jobs, and housing—by building a powerful constituency to advance new regulations and shift corporate practices.

Rebecca Onie of The Health Initiative addresses divisions in health approaches at TED. (Photo: Marla Aufmuth / TED)
A digital billboard in New York created as part of the Imperative21 campaign. | photo courtesy of B Corp

Investing in A New Paradigm

We invested in Imperative 21, of which Skoll Awardee B Lab is a founding steward. Imperative 21 is a business-led network that equips leaders to challenge the notion of shareholder primacy in favor of “stakeholder capitalism,” a more inclusive economic paradigm that creates shared wellbeing on a healthy planet. It also works to shift the cultural narrative, realign economic incentives, and facilitate a supportive policy environment.

Investing in Policy Shifts

Advancing equity in economic policy to meet immediate needs while also thinking about ways to build back was another focus last year. PolicyLink has been at the forefront of this work in the U.S., while uplifting the voices and solutions of those most impacted. The Families and Workers Fund is a collaborative philanthropic effort to support solutions to drive the long-term structural change needed for an equitable recovery from the health and economic crises caused by COVID-19.

60th Street businesses in Philadelphia closed amid COVID-19 restrictions. | Photo courtesy of Jabari Jones
Jessica Norwood, founder of The Runway Project, launched with support from Common Future network. | photo courtesy of Common Future

Supporting Power Shifting

We seek to support community-driven solutions and leaders of an inclusive and sustainable economy. Our investment in Common Future supports efforts to shift power and capital directly to Black, Latinx, Indigenous, Asian, and minority communities by catalyzing local and national investment and philanthropy, and by reshaping the economic narrative.

Helping Build Equitable Infrastructure

We also support organizations like Data for Black Lives in building the infrastructure for a new model of data-driven advocacy and algorithmic justice that bolsters grassroots movements and combats systems of oppression created by incomplete and unrepresentative data sets.

From left to right: Julia Angwin (Journalist, ProPublica), State Attorney Kim Foxx (Cook County State’s Attorney’s Office), Samuel Singyawe (We the Protestors, Campaign Zero), Charmaine Arthur (Program Director, Freedom House Roxbury), Adam Foss (Prosecutor Impact).

Stories of Impact

Social Innovators

Fundación Capital

Fundación Capital is a social enterprise which for 10 years has been working to improve the economic and financial lives of people living in social vulnerability around the world. Through…