 Hello Socap, we're so glad you're here. I'm just curious, how many of you are here for the very first time? Wow, welcome. We hope that you are going to have a splendid time and become a part of this amazing Socap family. If you haven't caught on to this yet, this is our 10th annual Socap event held right here at Fort Mason and we're so excited about that. During these years since 2008 so much has changed, the world has changed for the good because of so many initiatives and ideas and organizations, the work that you all have done and will continue to change because of the work that you are about to do. It has also changed for the not so good in so many ways and some of that we can actually see evidenced outside our window with the haze that we see around us caused by the fires that are happening, the worst fire in California in modern history. There are people who are not here today because their homes and lives have been impacted by those fires, people whose homes have burned. We want to keep remembering them and the people whose lives have been impacted in the hurricanes and in so many different ways. That's why we're here. We're here to do the work that needs to be done to change the world for good and we're so glad that you have come to join us. We hope that while you are here that you will get the knowledge that you need to help you do your work better that you will find those partners, the people you did not yet know, someone who will give you that spark of inspiration or just that right connection you need to do your work even better. And we also hope to inspire you and we're so glad to bring this first group of folks out to the stage for some of that inspiration. The woman who is coming out to the stage has been a mentor to me and many, many, many others. She was a mentor to Tim Froinlich and Kevin Jones as they started their first fund with Good Capital and a mentor as we launched Socap in 2008. She will tell us about some of the work that she's doing now with Culture Bank and introduce us to some new friends who will talk to us about ways that we can make our lives more delightful and more impactful. So Penelope, Penelope Douglas, can you come to the stage? Here she is. Hi everybody. Thank you. I am so excited to be here and I was saying to somebody, can you hear me all right? Better? So excited to be here? Is that sounding all right? Is it sounding all right? I only have this mic. How am I sounding now? I'll be subdued. I'm very excited to be here but I can't speak any more loudly than this in order not to cause interference. Today's theme, the theme of the opening plenary is we are here and we are inspired. And so of course what I took a minute to think about before today, by the way when you come to the opening plenary, I don't know how you all feel but I always feel a little bit like I've just landed on Mars again for the first time even though it's the 10th time. So we're all sort of getting acquainted again and I really anticipate that feeling but it always makes me a little nervous. But the theme of today is we're here and we're inspired and I took a moment over the last couple of days to think a little more deeply, think a little more deeply, think a lot more deeply about what gives me inspiration, what allows me to be inspired. And I arrived at something very simple but in truth it's something I don't think about as much as I probably should and I realized that the reason that I'm inspired is because I know I'm beloved. I'm inspired because I know I'm beloved and yet when I left Fort Mason yesterday after an event I walked outside and immediately encountered people that I know do not feel beloved. And then I of course can think about the millions of people around the world who are not inspired perhaps and perhaps in part that's because they are their communities do not feel beloved. I also have access and the opportunity to bring you assets of value that include my creativity as an artist and as a social entrepreneur. I get to collaborate. I get to radically collaborate. I get to try to overcome my fear which is a huge thing for me. I'm always thinking about trying to overcome my fear and one of the ways that I do that is I try to use all my senses. So these are the things that I think about when I come to you starting off a plenary where the theme is we are here and we're inspired. It's both about my inspiration and also about what might be happening in the world that doesn't provide that. I'm also here very, very excitedly to kick off the beginning of a spotlight series at Socap that is about something that is work that I'm doing now and it's called Culture Bank. And so I couldn't be more excited and proud to introduce our first session of our spotlight series on Culture Bank by introducing three phenomenal people, three globally renowned creative professionals. And I'll start by introducing Deborah Coulinan. Deborah is the CEO of Yerba Buena Center for the Arts here in San Francisco. If you don't know the mission of Yerba Buena Center for the Arts or YBCA as it's known, it's we generate culture that moves people. Most importantly to me, selfishly speaking, Deborah is also my partner and my co-founder in our bold project called Culture Bank. Deborah is going to be joined on stage by an amazing gentleman named Mark Bammuthi Joseph. Mark is someone that I've gotten to know over the last few years. He's a 2017 TED Global Fellow. He's an inaugural recipient of the Guggenheim's Social Practice Initiative. And he's an honoree of the United States Artist Rockefeller Fellowship. I won't be able to describe this the way Bammuthi just did for us backstage, but he has an opera libretto called We Shall Not Be Moved that was commissioned by opera Philadelphia, directed by Bill T. Jones and recently premiered to rave reviews in Philadelphia and then at Harlem's Apollo Theater. His latest evening-length work is called Pelota and it's also been receiving rave reviews was commissioned by the Kennedy Center for Performing Arts. And he proudly serves as well as the chief of program in pedagogy for Yerba Buena Center for the Arts. Third and we're so, so fortunate to have her with us is Sonja Renee Taylor. She's the founder and radical executive officer of The Body is Not an Apology, which is a digital media and education company committed to radical self-love and body empowerment as the foundational tool for social justice. She's shared her work as an award-winning performance artist, activist and educator in numerous countries, countless stages and on major media outlets. She's leaving for New Zealand in two days to be part of the inaugural cohort of the Edmund Hillary Fellowship for Global Impact Changemakers. So we're here and we're inspired and Deborah and Mark Bermuthi Joseph and Sonja Renee Taylor are inspired people who are here to communicate with you today. Thank you very much. Hi, my name is Deborah. I am so pleased to be with you here today and to be with these two amazing human beings. We're here to kick off the 10th anniversary SoCAP conference. We want to launch this year's gathering by celebrating where we are after 10 years and imagining where we will be 10 years from now. I'm seeing that I need to do this. There we go. We want to articulate the anatomy of a movement. We want to celebrate how the mind, the body, the heart and the soul of this social impact movement can, if we are willing, dance. So happy birthday SoCAP. What an extraordinary thing. Ten years ago, a small group of people, visionary people, co-created a gathering to begin to acknowledge and fuel the potential of an emerging movement. One where meaning and where impact matters as much, if not more, than money. Like many of the artists that I get to work with every day, they set out to create something that they could not yet see. And I think it is our challenge to again do that. What is it that we cannot see? And what will we create together in the next ten years? They laid the ground for a future possible inspired by an urgent need for an alternative reality. One where social and environmental impact drive the way we deploy our resources and what we need in return. As a result, so much has happened, so much has been accomplished. New enterprises, new investment strategies, new business models, new possibilities. Yet, despite the gorgeous momentum, are we moving? Is culture shifting? Are we there yet? Do we have equity? Have we ended racism, hatred, bigotry? Is the wealth gap closing? And have we achieved income equality? Climate change, sea level rise? The question is, do we care, truly care enough about one another that we will co-create a future of shared prosperity together? The question is, do we understand our interconnectedness? Are we dancing yet? The great James Baldwin said, not everything that is faced can be changed, but nothing can be changed if it is not faced. As we stand on the strength of ten years of momentum, I invite us to courageously acknowledge what we have not yet accomplished, to definitively name what is still broken, and to boldly ask, what does it mean to create a system of shared prosperity that honors the unique and valuable assets that every human being, every community can bring to the table? Are we willing to see and truly regard one another's power? Are we willing to redefine what we mean by assets and what we mean by value? Will we together be able to come to a place of collective compassion where we are not only saddened by tragedy, by injustice, by inequity, but we feel and act upon the urgency, the actual consequences, no matter how close or far away? Are we willing? Oops, sorry. The first person has to make a few mistakes. I am imagining our next ten years and a future that thrives on abundance and generosity. This abundant ecosystem de-emphasizes transactional interchange and emphasizes deep and lasting relationships. This ecosystem prioritizes shared prosperity and collective well-being. In this ecosystem, we see and value assets of all kinds, creating the possibility for thriving public life and the possibility for us to see and actually acknowledge the things that we forget to value today, language skills, intergenerational knowledge, youth leadership, art, culture and tradition. These things make up our neighborhoods. They are vibrant. They are uniquely fascinating, beautifully diverse and healthy places. In this ecosystem, investments transcend material gain and we take the time we need to save this planet. This ecosystem thrives on diversity of thought and life experience and fuels emerging culture that can instigate change. Indeed, change starts with cultural movement. It takes hold with cultural shift. It starts with cultural movement. Change takes hold with cultural shift. The great societal strides, think of marriage equality, think of environmental justice, reproductive rights, civil rights, those that have resulted in positive lasting and powerful forward movement have inevitably sparked from a cultural shift, a change in our hearts, a change in our minds, a change in what our bodies are willing to withstand. And this is the change that we need today and we must nurture cultural shift and continue to care for it or we will lose ground. So as we stand on 10 years of movement, I believe that our call to action is to continue the work of shifting to a culture of equity, a true culture of equity that values collective abundance and shared prosperity. At long last, we will indeed be dancing. I think the greatest social movements emphasize not our differences but our interconnectedness and our interdependence, which allows us to feel not helpless, hopeless, disconnected, but helpful, hopeful and together. I share this moment from an art and urban prototyping festival that happened not long ago on Market Street here in San Francisco. In just these few seconds, we're reminded that creativity deployed can transcend barriers, whether they're streets, oceans, political and social divides. This little boy is communicating with the people through play, through light, through sound, across multiple lanes of traffic. He reminds us that we can find one another and we can find joy amidst it all. So, what do you say? Shall we dance together? Let's dance into this conference and into the next 10 years. We can do it. Thank you. How are you all doing this evening? Are you really good? Are you just making it up? You're really good? Awesome. I start with this slide because I'm starting with where I am in this work as an average black woman startup who raised about $43,000 rather than the 1.3 million the average that's raised by failed startups in the U.S. We can't have this conversation about how we fund social impact, how we fund movement without talking about the heart, about talking about our hearts and where we allow our hearts to lead our resources, our time, our money. So, I'm going to ask you all to do an activity for me. I'm not so much this conferencing kind of girl. Somebody asked you to do some unconferencing things. Is that okay? Awesome. So, I'm going to ask you if you have something in your hands, you'll probably need to put them down as super connected human beings, connected to digital things more than we are connected to each other, right? So, I'm going to ask you to do something. I'm going to ask you to put your hands together and rub them together and create some friction with your hands. And when that hand feels really warm, I want you to place it on your heart. And I want you to let yourself be present to your heartbeat. Let yourself be present to this muscle inside of each of us that ought to be where we do this work from, that ought to be what leads us to how we spend our money, how we spend our time, who we see, who we do not see. And with your hand on your heart, I want you to just be with me for a moment. Take a moment and consider, how did you get here? Yes, here in that chair, but also a here that is beyond a finite point on a map. Not the registration table at Socap, but here as in this particular junction of your heart. How did you become part of this contagious epiphany called impact? In a garden overwrought with the weed of greed, how have you held the tiny bud of your humanity intact? What does your heart know? And how? And why? Does your heart know altruism is a lie? That we are not called to be saviors, but to recognize that the world that works for the least of those is the world that works for me. That the work of true liberation demands our labor in service towards a freedom for us all. We chant, save the planet and she sighs, exhales Hurricane Maria, exhausted by our hubris. How are we 80% water and still do not know our own names? How has she, all she has ever known is the dark art of resurrection, while all we've seen to master is the inevitability of dying. The heart knows nothing you do is selfless. Stop trying and trust that the planet is not waiting for us to save her. The planet is waiting for us to save us. The heart knows the ego is a trapdoor, describing not only what we fall through but what we fall for, how easily we are lured into believing that this is about the widgets we made, the check we wrote, believing the antidote to the chasm of injustice we seek will come through a convertible note, only understanding equity as the portion we take, not the portion we give, using our investment to build bunkers instead of a bridge. The heart knows risk is not how much money we will lose. Risk is being refused healthcare because of your gender or your race. Risk is dying in 2017 of diseases we developed the science to eradicate 60 years ago. Risk is the choice between feeding your family today or filling your gas tank to make it to work to feed them tomorrow. The heart knows that we do not know the risk of this sort of sorrow and that we have so much less than most to lose. The heart chooses to focus on who is not in the room. I want you to take a moment and look around the room. We are grateful for the people who are here, but I want you to look for who is not here. Share with your neighbor really quickly who do you not see in the room. That's a heart question, right? The heart begs us to see if we've built an impenetrable fort, a resort for the privileged of good intention. The heart knows intention is not enough. The heart says I do not have the answers, but I have the resource to help those suffering find their own. The heart asks how do we transform a fortress into a home by opening the gate? The heart knows we cannot truly celebrate until the so cap plenary presenter is a disabled, undocumented trans woman of color who just raised $50 million in a funding round seat. The heart knows that equity doesn't necessarily look like you or me, and if it does, we aren't there. The heart knows that there is no bravery without fear. That we cannot find, we cannot fund our way to a better world. We can only become better humans committed to being better humans to other humans until we've made a world that works for all of us. What are you willing to give up in service to the call to build that vision? What must you alter in your mission to get us there? Black science fiction writer Octavia Butler wrote, everything we touch, we change, and everything we change changes us. The only constant is change. I know we say that that is our aim. The heart wants to know, are you willing to be changed? What up though? How y'all doing? Everybody cool? There's a tenant that we believe in here, energetic reciprocity. Yeah, so when I say y'all cool, if you just kind of don't say anything, I'm looking at you in the back thinking that I don't see you. You know what I mean? You ruin the whole thing. So ha! What are you doing? At my American best, I wear my struggles as swagger. I am genetically encoded with my country's history. Every now and then I try to imagine my ancestors and when I close my eyes, what I think I see is probably a blood memory. Deborah talked a little bit about a mindset and Sonya reminded us of the actions of the heart. They've asked me to describe what the young people refer to as swag. The first thing that pops up in my head is that character is energy and how in this work, energy is not immaterial. Broken energy is as much of an impediment as broken anatomy. So let's get into the body of that so-caps swagger to begin, get into the mind of my almost 16-year-old son. And yes, who the fuck wants to be back in the mind of a teenager? But this kid is a visionary. Or at least that's what he told me the other night at dinner. We were talking about his African American history class and how the teacher is his favorite and all these dope people and how his teacher says they were visionary. So we talk a little bit about what we think that word means and I talk about making this opera with Bill T. Jones and how sometimes when he was directing this opera, I wrote, he'd get mad at the cast for not seeing what he saw in his head. Eventually, my kid says, dad, I think I might be a visionary. He says, when I'm making music, the things that I hear, he says. And then he closes his eyes for a second like he's taking the first bite of the first hella sweet strawberry in spring. And I'm like, damn, you know, he's found something of which he feels worthy. And whatever the right word for the feeling is, it makes him feel otherworldly. I love my kid, but I'm pretty sure the right word isn't visionary. But the feeling that it might be, the feeling of free is swag the fuck out. So now we can't just walk around here thinking that we're Stevie Wonder, like my kid. So a sober reminder that we are living in the time of the visas, the wall, the health care repeal, the Goldman Sachs cabinet, the drunk Adon accusations of wiretapping and Kaepernick, the fictional massacres, the actual alliances with Nazis and fascists. We are living in the time of the Muslim ban, Flynn's sessions, Kushner, the homie-comie. You can't hear the screams for your island while he's on his island on a golf course. DeVos Dodd-Frank, the Yemen attack, Kellyanne Faxoto, Bolingreen in Sweden, Abandoned in freedom of the press in Bannon, tiny orange hands on the button, a glutton, a constitution-gutton, social safety net-cutting, Kaiser Heil, Comrade Grumpf, Scalia Finkalike, justice-nominating, self-hating, pedophilic, rapist, climate science-debating, ruling via tweet. He's tweeting at North Korea, yo. Racism is so embedded in America that when we protest racism, the average American thinks we're protesting America. Some of our embedded norms are dangerous and unsustainable, including our norms around class, including our tropes about class relative to race and gender. So to do this work is to humbly acknowledge the weight of these realities, which means a near incessant self-assessment of our personal privileges. Doing this work means we got to check our privileges, dawg. The armature of this swagger we're talking about requires that we keep our cynicism at the level of a 15-year-old feeling free in his creative self while keeping our humility humming. Weightless optimism, grave humility. It actually takes some pretty extraordinary gymnastics, but Socap, I believe, is a little less about dope projects than it is about great people. We, the people, willing to invest social, intellectual, or financial capital in order to alter the arc of culture. In fact, we might want to ask ourselves if our work not only feels exciting but courageous, like on a meter between zero and Harriet Tubman, how courageous is my work? So if I'm building the body of our conference-wide swagger, I'd say the way of the walk wafts, like Teen Spirit, is humble before the task, is a little scared, maybe, but embracing it as fuel. And finally, well, finally, let me share a little bit of this opera I was telling you about. In 1985, at the climax of a very complex and mortally antagonistic relationship, the Philadelphia police dropped two pounds of C-4 explosives on the home of the move organization. The resulting fire killed 11 people, including five children. The opera is about five teenagers in the present day who get in trouble in North Philly and escape across town to occupy the remains of the move house. While they're in the home, they decide that they would rather learn from the ghosts that live in moves' ashes than from their teachers at school. In our opera, these ghosts are called OGs, and they are teaching these Philly kids by leaving notes around the house with lessons to grow from. OGs say, love yourself, baby. They say, love needs to sex love. OGs say time did not reconcile me to my chains. It made me familiar with them. It made me familiar with them. Say black and hear yes. OGs say time did not reconcile me to my chains. It made me familiar with them. Say black and hear yes. Say black and hear enough. Say love is the only word sweeter than black. Somewhere in the swagger is the capacity to weaponize love. Like how that man, John Holliday's voice, took that word and stunned us with it. Socap investigate the mindset, incorporate the heart work, and be on the lookout for the swag. For the strut of ignorant idealism in a still young body, the gait of a person who was aware that this Philly might fail and faces the fear forward, sweetly. Like a love song. Thank you. Thank you. Thank you so much. I think I have the best job in the world, getting to be a part of this great, people crying backstage, and I was one of them. It's just amazing. The next thing I get to do is to bring a friend to the stage, well, she's already on the stage. She has attended Socap as a professor of business, as a climate activist, and an advocate of sustainability, and this year she is here as an entrepreneur. She's one of the gang now. Change Finance went live today on the New York Stock Exchange, with a million dollars invested in the first day. Donna Morton sitting on the front row. It's a first woman-owned, woman-managed stand-up change finance. It's the first ETF that is 100% truly fossil-free. And Hunter's here and she's going to talk to us about moving our money from doing bad stuff to doing great stuff. So Hunter, take it away. And I am inspired in the way in which we are dealing with climate change. Trillions of dollars, and just north of us, we are seeing the very real and very human effects of climate change. 15 dead and 100 missing. Who's not here? Nearly too many. But Bucky said you don't change things by fighting the existing reality. Invent something better. The future is already here. It's just not widely distributed. We have all the technologies we need to solve all of the problems facing us. After Mark Jacobson down at Stanford, we can power the world 100% renewably by 2030. And Germany is on its way to doing it. Greenhouse gas emissions down. Economy up. Thank you. Tony Siba also from Stanford says not only can we power the world 100% renewably, we will. Because of four things. Fall in the cost of solar. Fall in the cost of storage. Batteries. The electric car and the driverless car. Fall in the cost of solar three years ago. City group. City group. Release the report energy Darwinism said this is the era of renewables because of the alarming fall in the cost of solar. Alarming to who? National bank of Abu Dhabi. They know a little about oil. Even at ten dollars a barrel oil can't match solar on costs. And solar jobs are growing 17 times faster than the rest of the economy now. We build a new solar array every 150 seconds. This prediction came out in April. Solar will hit two cents a kilowatt hour in 2017. It just did. The Saudis announced a 1.7 cent per kilowatt hour solar array. People say we're going to be the Saudi Arabia of solar. Saudis said excuse us we're going to be the Saudi Arabia of solar. Actually they're not. The Chinese are. The Chinese this year hit their 2020 target for deploying solar. They're floating solar arrays. Why? Because they can't breathe. The air that's out here. Daret Lelson on the change finance team used to work in Beijing with the State Department. Said she should have brought her masks from Beijing today. The Chinese can't breathe. So they're going clean. Last month they announced they are going to start phasing out the internal combustion engine. They will launch the world's largest carbon market this year. And last week Jerry Brown I believe it was Tuesday sat with Mary Nichols California Air Resources Board and said Mary if the Chinese are doing it why can't we? Wednesday Mary said we can. Friday Jerry said we will. Now here's where it gets fun. Last October the Fitch report said if Elon hits his target of a 35,000 dollar 200 mile range electric vehicle the oil industry is toast and the auto industry is toast. Little Tesla is essentially valued at the market cap of General Motors. Why? They sell 300 times fewer cars. Why? Because it's not a car company. It's a battery company and a solar roof company. It is an integrated solutions company. So when the Aliso Canyon natural gas well blew out Elon said we'll just put in batteries. In six months time 80 megawatts of battery storage. World record time for deploying any kind of power plant at a price point about the same as a natural gas plant. Then Maria hit Puerto Rico and our government stood idle. The hospital ship stood birthed at Norfolk for eight days. Is that okay with you? It sure ain't with me. So I was writing a piece last week for Huffington Post Elon Puerto Rico needs you. Elon was already there the minute the wind stopped he started shipping power walls. He is now in conversations with the governor of Puerto Rico about transforming the island using micro grids. They're the technologies we need. And so Bloomberg, cheap battery storage could dump the credit market. The driverless car. We've all thought about what are cab drivers going to do? What are lift drivers going to do? If Tony Seba is right we are looking at the end the demise within ten years and maybe as soon as five years of the oil, gas, coal, uranium, nuclear oil industries and the banks that hold paper in them we are looking at the mother of all disruptions and we've no earthly idea how to deal with it it gets better. Mark Campanale who is here somewhere at Carbon Tracker created these numbers. The about to be stranded assets the fossil assets that are on the books of companies like Exxon which is by the way borrowing to pay dividends and countries all the oil holding countries think Venezuela amount to about twenty to thirty trillion dollars in assets that if Tony is right will be stranded within five years. We have some entrepreneur to do. Divas Laundstraeth who was an SEC commissioner said it is entirely plausible even predictable that continuing to hold equities in fossil oil companies will be ruled negligence. What's your money doing? So we decided to create a company to do something about that change finance this is hero the buffalo the bison the symbol of the Native American and we are going to move trillions from harm to healing. You want to come be a part of us? If you want a hero tattoo come see Donna after this is over we'll be happy to set you up with one and it's starting to happen guys the big companies are going 100% renewable it's getting to be a who's who of well managed companies. Mars about a month ago put a billion dollars in the climate protection. Carbon disclosure project CDP has shown that the companies that lead in measuring their carbon footprint have 18% higher return on investment than the laggards 67% higher than the companies that say they're not going to report they're not going to measure. When the child in chief said we're out of Paris 14 states 240 US cities a thousand plus companies representing 120 million Americans said we're still in a thousand cities around the world have said we're going 100% renewable. Here's how I knew it was over this April the Kentucky coal museum put solar on the roof rather than plug into the coal fired grid that was right there. It's over but now we have the very real challenge of entrepreneur the kind of world that we want to live in a world of equity an economy and service to life and here's another challenge we have left it until too late my first book in climate change was 1981 if I were any damn good we'd solve these problems we need to roll climate change backward. Good news we know how to. If we take carbon out of the atmosphere and put it back in the soil and Kat Taylor will have a great session later yet so cap on how to do this. How? Hero our bison grazing animals co-evolved with the world's grasslands the world's second largest carbon sink after the ocean which is giving up its carbon because it's getting too warm. If you manage grazing animals the way they co-evolved with the grasslands dense packed because there were predators now we do it with electric fences and opening and closing water holes you not only transform the land you increase the value of the land regeneratively managed holistically managed conventionally managed. Same. Picture shot from the same bridge in Wyoming same day. Meat gave brown North Dakota commodity corn soybean farmer until he realized he was going broke breaking the soil planting annual crops so he switched first he went to no till then he went to cover crops then he brought on the animals and in some of his plots he went from a little over 1% soil organic matter that's carbon over 11% soil organic matter in a span of 10 years if we did this over the world's grasslands in 30 years we'd be back to 280 parts per million concentration of CO2 in the atmosphere that's pre-industrial levels we know how to do this so Patagonia is getting into the act this is curns of wheat the long rooted stuff next to annual wheat they're making beer out of it come on if we're gonna save the world we gotta have fun this is what inspires me we know how to do it it's urgent we have to do it Maimonides said each one of us must act as if the entire world were held in balance and anything that we do could tip the scale so why am I inspired because you're all here let's go do it this is my favorite part of every year is when I get to walk out and see all of these beautiful faces welcome everyone my name is Lindsay Smalling I'm the producer and curator of SoCAP I have the best job in the world because I get to invite people like Hunter who have been leading this field for a long time amazing artists like Bermuti and Sonya and all of the amazing speakers that you're gonna hear over the next few days and we know that there's just as much insight and wisdom and energy coming from this crowd so I'm so excited you're all here SoCAP is my favorite three days of the year that's why this is my job and the work that we do here needs to be more than three days because you'll find that over the next few days you make so many amazing connections there's so many people that you had no idea you needed to be working with that are really the next step in what's getting you to what you're trying to achieve we wanted to we're ten years old now continue doing that more throughout the year and so earlier this year launched the Good Capital Project which is a two-year initiative from the SoCAP group to continue the amazing work that happens here throughout the year and really find a more intentional way of taking this collaboration platform that we've built you've all helped us build over the last ten years and ask you to help us build this field together over the next two years so I'm really excited to welcome to the stage John Morris who's gonna rally this crowd and get you all involved in the Good Capital Project welcome John Thank you Lindsay is amazing as most everyone here knows and she never stops it is so amazing to be in this room with this group at the 10th anniversary of SoCAP we're not only celebrating ten years of vision and hard work of our founders Rosalie and Kevin Jones but ten years of curated conversations by many of you around so many topics that challenge inspire or exemplify an approach to empowering capital for better outcomes Bob Caruso and I are so grateful that Kevin and Rosalie invited us to get on board the SoCAP train it has been an amazing journey so far and there's so much ahead of us this room is incredible it's the only place I know that is made up of investors lenders, givers builders, artists entrepreneurs, engineers and imagineers that are all values based and purpose driven the brain power in this room and the experience base of the people who gather this week is inspiring earlier this year the SoCAP team brainstormed around the best way to harness that power as a force for change beyond the SoCAP week to fully realize the impact economy this led to the launch of the good capital project the fact is Wall Street from its beginning was built around transactions and therefore capital has followed transactions and a supply chain has been created that has created a really efficient capital market system consumers are now calling for a better system one that includes purpose and sustainability and can turn our world's human challenges into our human investment opportunity for us to accomplish this it calls for the efficiency of the traditional financial markets but embracing an impact lens to ensure that purpose and sustainability are embedded into the capital market system to create the world impact we are looking for we are all here with a shared desire to apply human and financial capital to create a more just more sustainable and more inclusive empowering world around us but it can be frustrating imagine impact investing as a restaurant food is essential to life as capital is to business there would be healthy and fresh ingredients sourced from local producers to serve various preferences there would be culinary experts to turn those ingredients into mouth watering solutions that fit many personas the menus would be designed to give clarity around those options and the waiters would be trained to make that very best dining choice for you personally we would all leave this restaurant happier and healthier we need systems and efficient supply chain and investment taxonomy the plumbing or connective tissue that unifies our common passion and intentionality with our ability to succeed we need common curriculum, shared databases online product catalogs, templated legal documents a unified industry lexicon advisor certification, impact research that fits different customer profiles and asset classes we need open source directories of failed and successful case studies and on and on and on so how do we create a better restaurant with happier and healthier outcomes what's missing? how can we change this? is there anyone stopping us? is there a law stopping us? are there norms that's holding us back? our view, this is not a supply and demand problem this is not a terminology problem it's not a concessionary versus ROI debate problem or a perception problem around the term impact this is a design problem and here in the room are the designers the design thinking movement like Socap also has its roots in this town Tim Brown, founder of IDEO which came out of Sanford design school has been a leader in bringing design thinking mainstream Tim Brown spoke at the first Socap ten years ago Kevin Jones had the foresight to start investing as a design problem therefore it's very fitting we launched the Good Capital Project a two year design thinking approach to aligning the capital markets with the human needs of tomorrow during this tenth anniversary our design approach starts with empathy to understand the key pain points to those questions by identifying the most crucial to ask and to who then ideation by asking those questions to all stakeholders and get the best ideas we want to hear every possible solution to those questions making this not an either or but a yes and approach then we'll curate those ideas to launch prototype solutions that can be achieved as the most viable projects within our two year time frame these projects will undergo testing and measurement leading to a self sustaining future and have a life of their own the purpose of the Good Capital Project is to use design thinking and cross sector collaboration to bring increased clarity structure and transparency across the impact economy for full industry maturity most of the systematic changes needed in the industry are underway most of the systematic changes need to improve the capital markets of the future will undoubtedly come from the efforts being made by leading organizations in the room for the most impact movement you will be able to hear about a number of these initiatives over the next few days and we feel the Good Capital Project can amplify these efforts by reaching beyond the known leadership to the whole community to other sectors to be inclusive in connecting the dots is a network unconnected it's an island impact of scale requires networks not islands so we welcome everyone in the room to participate and they're looking forward to making sure we connect the dots to other networks globally and one of you may just have that amazing differentiating idea that creates the first impact unicorn described at the global steering group conference last July as an effort that improves a billion lives the likelihood is that by designing the future together and connecting the dots we will create a herd of impact unicorns that populate our new economy and achieve the sustainable development goals and surpass our wildest and most impactful dreams the Good Capital Project has asked that those people who want to get involved to self-select into six working groups focused on solving the grand challenges to mainstream impact investing the teams will use their collective expertise to bring the best ideas to bear while the GCP design team will facilitate the collaboration research specific solutions and prioritize deliverables we've had over 10 events since the launch in June have produced over 20 reports and interviews the GCP website has continued to evolve as a place to make all of this work available we currently have close to a thousand people who have signed up to be part of this design process this project needs you we're now in the ideation process and there are a number of issues that we need help answering the questions and coming up with the best solutions please come by or both sign up for the project help to provide your best ideas and discover how you or your firm can get involved when we dreamed up the Good Capital Project we saw it as a way to invest back into our community and accelerate impact but we could not have done it alone we're grateful to the courageous sponsors who helped us get this started two or three months ago Deval Patrick and Bank Capital felt that this was needed for the impact industry and the Board of Investor Circle were very supportive of this effort as well as leading participants across the supply chain who provided this project critical resources we're also grateful to see so many of what I would call the impact pioneers come to support this effort we will now be reaching out to a broader audience to support this effort hope to engage as many partnership discussions with as many dots to build an amazing global network to design a better capital market system lastly, we celebrate the last ten years of purpose and shared vision in this room please join me at Marveling at the leaders that make up this community like a vintage champagne this vision has fermented and this impact economy cork is about to pop the fruits of your labor have turned the Kool-Aid that we've all been drinking into a robust California sparkling wine over the next few days I hope you savor this impact meal and raise our celebratory glasses filled with your ideas that are all bubbling up to design a world of good and leave this restaurant knowing we are healthier, happier let's design a world of good together thank you thank you John I want to welcome to the stage right now Canyon Sayers Roods she is from Delta Digital Smoke Signals and she is going to spend a few minutes with us here reminding us about some of the things that we may have forgotten whose land this was before we arrived and helping us refocus again our attention to some of the things that deeply matter Canyon thank you my name is Canyon Sayers Roods from Indian Canyon Nation Indian Canyon is the only federally recognized sovereign Indian country between Roner Park and Santa Barbara along Central California that being said it has been continuously held by the indigenous peoples of the territory welcome to Aloni territory welcome to Aloni territory right here thank you San Francisco is known as Yalamu the Ramatosh Aloni were the first indigenous peoples of this territory I'm a Mutsun Aloni individual but I am here to acknowledge that indigenous protocol that indigenous protocol is to acknowledge the original peoples of the space and place that we occupy to include indigenous perspectives and indigenous values around being present on this land my grandmother and my mother believe that when song, ceremony and dance stop so does this earth so to open this space in a good way I want to offer this song this is a grandmother song to honor our grandmothers their grandmothers and in all mother earth for without them and without her we would not be here we share this time and space together for a reason so with that humility that gratitude, that present-mindedness I offer this song to you today Moi moi California is standing in solidarity I thank you for acknowledging indigenous protocol I would love for you to meet the roaming Aloni and we will be here and let's talk about how to include indigenous values indigenous perspectives with this opportunity to make an impact thank you alright so the burden here that happens just about every year usually they end up on this table at some point walking around as presenters are talking so you never know what you're going to get at SoCAP this is our 10-year anniversary you're going to hear that over and over again we're really celebrating we have lots of swag this year to celebrate the 10-year anniversary and the folks who are coming up next were here 10 years ago with us when we started and we went by really quickly and they wanted to take this opportunity now that we're 10 years in to remind us of all the progress that we really have made I think some of the messages you've heard here so far are about all the work that's left to do and that is 100% what we are here to keep moving forward to not look in the rear view mirror but it's really important to contextualize these things in the ways that things have changed and they've done this in a really creative beautiful way and I'm excited to welcome to this stage the folks from Halloran, Flansbury's Tony Carr and Audrey Selian and they're accompanied by the Music Action Lab it's great to be here we are joined today with the awesome musicians from the Music Action Lab in San Francisco founded by Drew Foxman Audrey and I are here today to talk about human well-being we are excited to share with you some of the major findings captured in our recent Landmark book entitled the pursuit of human well-being the untold history the book is a major global publication and is a tribute to the vision of Harry Halloran and his commitment to build the world we all want so our journey started many years ago just about the time that Socap was founded ten years ago our focus was to trace the history of human well-being to learn from the data we collected if the world was getting better or getting worse history shapes the present we moved beyond the public square in our research to document what was really happening within all countries in the world in health, education, poverty and happiness we found to our surprise that there were exciting reasons to be cheerful and optimistic people have risen out of poverty at amazing rates mentality has plummeted standards of literacy, sanitation and life expectancy have never been higher and we are living in history's most peaceful era we found dramatic advances in well-being in all regions of the world we found strong international support among countries for well-being countries like Africa, Asia or continents like Africa Asia and Latin America experienced significant well-being improvements progress was due in large part to globalization and foreign aid which fostered partnerships in business, government and philanthropy not anyone paying attention to the media today is likely to feel that the world is falling apart and the only attitude that really makes sense is profound pessimism I have a different view I think the world is far from falling apart in fact it has never been better more prosperous, safe or just the pursuit of human well-being is the story that must be told about human progress over time progress we can all be proud of the good news is life really is getting better well-being is about having a good condition of life characterized by health happiness and prosperity it's a combination of feeling good and having meaningful relationships and accomplishments human well-being is a process of enlarging people's spectrum of choice the most critical choice being to live a long and healthy life to be educated and to have access to the resources needed for a decent standard of living the notion of the good life existence is the times of ancient Greece it involves being well-off being fed clothed, sheltered educated and healthy it also means being honest courageous just generous compassionate and hospitable the good life is a virtuous life what we found is that humans have an inexorable determined obsession with improving their lot we mostly work towards higher collective standards of life on this planet this is a unique characteristic of being human today we are collectively in a state of health and well-being that has never before existed for large masses of people for most of us we have on average 8 decades of life within which to pursue our interests we do so in a more disease-free state than ever previously existed for those of us struggling with disabilities we use an array of tools of every describable type to help us we travel the planet life has never previously attained anywhere we're healthier better educated on average than the people who walked our cities living just a generation ago we're also growing increasingly aware that the way we ask our questions matters as a good friend once told Tony and I words make worlds and indeed they do how we think affects the questions we ask and what we see it doesn't matter there are two ways to see this world from a perspective of abundance or one of scarcity is the glass half empty or is it full are we less poor or are we rich are we less illiterate or can we read are we less sick or are we well the language we use affects how we think and indeed everything around us life expectancy this indicator not only gives us information about the average years a person is expected to live it also relates to the condition of the person's health during their life their access to basic health services today two things are true there's a continuing high rate of child fertility combined with a high rate of population aging the dramatic increase in life expectancy during the 20th century ranks as one of the world's greatest accomplishments life expectancy rose to 71.5 years an increase of almost 20 years since 1960 life expectancy was 31 years in 1900 in Nigeria, South Africa and Tanzania the length of life has increased by 50% the changes we see today in global health would have been imaginable amongst our ancestors their health conditions were so bad that many children died before the age of 5 most babies born in 1900 did not live past the age of 50 infant and child mortality which have posed major threats to child survival worldwide are now at historically low levels down over 90% since 1990 over the last 45 years infant mortality declined 58% child mortality 62% maternal mortality declined 27% there were 11 million fewer child deaths in 2012 than in 1970 vaccinations against crippling childhood diseases now reach nearly already 80% of the world's infants and children already 17 years ago deaths due to AIDS had declined from 40% to 12% we've seen nearly 50% reductions in malaria mortality rates in Africa there's been an 88% drop in measles related deaths in 40 countries in Africa at least 25% reductions in child mortality have been achieved since 1990 while in eastern Asia maternal mortality rates have fallen by 65% in education it's a cornerstone that advances individual and community well-being none of the improvements in well-being would be possible without the expansion and access to knowledge governments today are now investing more resources than ever to educate their citizens enrollment in primary education has become almost universal secondary education reached 74% in 2012 and great progress has been achieved in the enrollment of women and girls education of women is the best way to save the environment and indeed is a well-documented major driver of economic productivity one of the most remarkable results in education is the progress in adult literacy adult literacy reached over 85% globally in 2012 the literacy rate in 1900 was about 20% it's now become the norm in our world in Africa the continent has seen net primary enrollment rates increasing to 77% by 2012 let's look at poverty eradicating poverty in all its ugliness is the greatest challenge of our time when people anywhere are desperate people everywhere are at risk Martin Luther King tells us that injustice anywhere is a threat to justice everywhere 40% of the world lived in poverty in 1990 25 years later poverty dropped to 10% in the world imagine poverty was reduced by 1 billion people in 25 years a remarkable achievement poverty reduction was driven primarily by economic and social progress of China, India and Southeast Asia if you go to the world bank's overview of China you'll find a striking comment and I quote since initiating market reforms in 1978 China has lifted more than 800 million people out of poverty imagine China has lifted a significant really China is to be applauded for being the world hero in poverty reduction the reduction of poverty is one of the world's greatest humanitarian achievements it never would have happened without the commitment and cooperation of nations together with the united nations progress is particularly remarkable when you consider that the world population has doubled since 1960 Sub-Saharan Africa the cradle of humankind struggles with poverty in 2000 the economist presented Africa to the world as the hopeless continent 10 years later in a complete turnaround the economist featured Africa as Africa rising this positive narrative speaks to economic growth educational accomplishments and agricultural innovations Sub-Saharan Africa despite all its challenges has made great gains in well-being and is indeed on the rise foreign aid programs have helped countries make enormous progress disease and poverty projects are the clearest examples of opportunities designed to alleviate human misery after a generation of great progress the world's commitment to the poor is currently under attack government support is more uncertain now than at any time in recent years this is a grave concern in 2015 the united nations adopted the sustainable development goals the most important goal of all is no poverty calls on us this goal calls on us to work together to end poverty by 2030 the goal is to eradicate not merely to reduce this goal represents a major leap forward among nations so that no one is left behind we are a long way from eradicating poverty and leaving no one behind someday when poverty is gone according to Mohammed We'll need to build poverty museums to display its horrors to future generations they'll wonder why poverty continued so long in human society how few people could live in such luxury while billions dwelt in misery and deprivation the media struggles to tell the story of what's really happening good news about poverty is hard to spot because good news often overlooked the best headline I've seen for poverty is poverty fell yesterday by 137,000 people and it fell every day by 137,000 people for the past 25 years to me it is a clear indisputable fact that investment in well-being lives and frees up human potential and the generosity represented here generosity is one of the most powerful exports that we have to achieve well-being in the world happiness and life satisfaction are among the most important indicators of well-being international organizations like Gallup and the World Values Survey measure how satisfied we are with our lives daily the biggest gains in life satisfaction are found among African countries this is likely related to access to energy, health, education and infrastructure services a larger share of the world's population need no longer depend on a single light bulb or candle to light their homes after dark because even low income urban dwellers in many places are now beginning to have multiple outlets for receiving and using electricity and if they don't yet probably a social entrepreneur out there working on it solely more of the world's women are able to vote and participate more fully as members of government nearly everywhere in the world according to the Gallup World Happiness Report 10 of the top 11 happiest countries in the world are in Latin America Latin Americans are known for their warm interpersonal relations commitments to family and relative disregard for materialistic values these cultural characters to explain a significant role in explaining their sense of well-being and happiness another major measure of happiness is how often a nation smiles and again Latin America comes out smiling the best among regions so we are closing with a beautiful poem by Maya Angelou a poem that inspires and gives hope for the future a brave and startling truth we this people on a small and lonely planet traveling through casual space past aloof stars across the wave and different suns to a destination where all signs tell us it is possible an imperative that we learn a brave and startling truth when we come to it to the day of peacemaking when we release our fingers from fists of hostility and allow the pure air to cool our palms when we come to it when the curtain falls on the minstrel show of hate and faces sooted with scorn are scrubbed clean when we come to it when we let the rifles fall from our shoulders and children dress their dolls in flags of truce when landmines of death have been removed and the ages can walk into evenings of peace when religious ritual is not perfumed by the incense of burning flesh and childhood dreams are not kicked away by nightmares of abuse we this people on this small and drifting planet whose hands can strike with such abandon that in a twinkling life is sapped from the living yet those same hands can touch with such healing irresistible tenderness that the haughty neck is happy to bow and the proud back is glad to bend out of such chaos of such contradiction we learn that we are neither devils nor divines when we come to it we this people on this wayward floating body created on this earth of this earth a power to fashion for this earth a climate where every man and every woman can live freely without sanctimonious piety without crippling fear when we come to it we must confess that we are the possible we are the miraculous the true wonder of this world that is when and only when we come to it the progress of human well-being is a global success story we are the beneficiaries of a healthier, richer and better educated world the dramatic improvements captured in the pursuit of human well-being must be shared widely to continue expanding the growth of humanity just imagine what can be accomplished in the next hundred years thank you very much how about that presentation so you know where we're going tomorrow morning oh ok so my name is Drew Foxman the founder of the group that you just saw in the bee building there's a library that has a name how are y'all doing tonight my name is Drew Foxman and I'm the founder of a global social justice accelerator for musicians from around the world the folks that you saw on stage are 2017 cohort and we have artists participating from Armenia Nicaragua, Kosovo Tanzania, Kenya, Japan and here in the US and we're super happy just to be a part of celebrating ten years of SoCAP and to collaborate with Halloran and when we think about what does this collective community look like in ten years, we see a place where musicians are just as big a part of the narrative and the part of the change that we all want to see so we're about to go play and join, help celebrate SoCAP out here in the main room so with that, let's help us let's help celebrate ten years of SoCAP and another ten years of great work thanks you can't be serious you're never going to find money and so you know would have been the end for us and we actually at SoCAP, the name of our first investor who came in six months later still in the middle of the crisis was given to me so again SoCAP saved that to recall SoCAP attracts some of the best entrepreneurs and getting to see them on that stage has been tremendous as far as opportunities to investors there's this idea of inclusiveness that I know SoCAP's organizers aspire to I'm just very proud to be a part of this community this is a Berkeley based social enterprise that makes best in class soccer balls that are fair trade certified we specialize in fast growing niche markets our goal is to really change the way the industry works with the game and to really change the way the industry looks at supply chains to make it more ethical and more sustainable SoCAP last year there's a coffee shop and all of these tables outside and I had a series of just incredible meetings with other investors and entrepreneurs who were looking for funding and I just was at that one table and I had set up meetings and then people would just walk by and I had all of these impromptu conversations and I had one of the most productive Thursday afternoons ever just sitting there outside of the sun talking about the impact investing in space and two women that I was working with they knew about SoCAP and kind of dragged me along the next thing I know I was on a panel at SoCAP talking about investing in Oakland and how important it is to invest locally SoCAP has had an impact on my life in that, you know, I met the people who are now my partners SoCAP is an environment where you meet people that you don't expect to meet at a particular time I'm positively surprised at who is showing up and I think that's the power of SoCAP Wow, okay Well there was a little bit of a miscue so most of you have already left but we don't care about them but we're going to have a little party and Kevin come on out here and we've got a birthday cake we don't have candles but we have a birthday cake and we would like for anybody who has either been to all of the SoCAPs or was at the first SoCAP are a part of the first SoCAP to come up here on stage with us Oh, right BJ and Asher Where's Jeff Toller? Yeah Jeff, come on up here Aaron, come on up here Anybody else who's been to all the SoCAPs? There's only two or three people who's been to every single one of them so I'm going to invite Hunter to come back up here with us too but I want Harry Halloran to come up here and Mark Carr to come up here because they were the people who got this thing started by being the first sponsors of SoCAP and I think Hunter was at our second one Where is Mark? Mark Carr, where are you? Tony Carr? I mean Tony Carr Mark Beam, where are you? Mark Beam and Tony Carr Now anybody who's worked on any SoCAP Amy, are you here? She's not here She was We lost everybody We did, we lost everybody Do we have matches? Does anybody here smoke? I would light it with that These birthday candles were on Asher's 10th birthday cake This year This is the 10th SoCAP and we're going to light these candles and he's going to blow them out for us I also got joining us on the stage the people who did who are a part of this year's SoCAP Is it? Now it says we're one Excuse me I'm not jazz Shall we sing Happy Birthday to SoCAP Happy Birthday to You Happy Birthday to You Happy Birthday to SoCAP Happy Birthday to You Asher, will you blow out the candles? There's cake out there for everybody So have some cake and thank you to everybody Thank you all