University of Edinburgh invests £1 million to fight homelessness

The University of Edinburgh has made a significant commitment towards tackling homelessness by investing £1 million in charities and social enterprises supporting individuals at risk of homelessness. This investment will be facilitated through Social and Sustainable Capital’s Social and Sustainable Housing Fund II (SASH II), a socially responsible investment fund aimed at creating positive societal impacts while providing financial returns.

SASH II functions by offering loans to charities and organisations to aid in the acquisition of properties for social housing purposes and expanding their housing portfolios. This financial support is crucial as it enables these organizations to provide housing solutions for vulnerable individuals, a task that may not be feasible without substantial financial backing.

The overarching goal of SASH II is to secure £125 million in investments, ultimately facilitating at least 30 organizations in offering homes to 10,000 individuals throughout the fund’s duration. This recent investment builds upon the success of the University’s previous £1 million contribution to Social and Sustainable Capital’s initial social housing fund, SASH I.

Launched in 2019, SASH I has already aided 20 social impact organizations across the UK. Notable projects funded through SASH I include Simon Community Scotland, a charity focused on supporting individuals at risk of homelessness in Edinburgh. With a £5 million loan from SASH I, Simon Community Scotland acquired 15 properties in Edinburgh, providing affordable housing for up to 30 vulnerable adults facing homelessness.

Dave Gorman, the University of Edinburgh’s Director of Social Responsibility and Sustainability, emphasized the role of universities in addressing social issues while generating returns on investments. He expressed delight in supporting SASH II, highlighting the positive impact of affordable housing on vulnerable populations in Edinburgh and across Scotland.

Mark Bickford, the CEO of Social and Sustainable Capital, expressed enthusiasm about expanding on the success of SASH I with organizations prioritizing social impact. He commended the University of Edinburgh for their continued investment, showcasing the potential for universities to make a significant social impact through financial contributions.

This investment aligns with the University’s Social Enterprise and Social Investment Strategy, which pledged to invest £8 million in socially beneficial funds. With £7 million already invested in such initiatives, the University has supported various groups, including Big Issue Invest and Prosper Social Finance, a student-run socially responsible investment fund.