Thanks. That's a great question.
The Responsible Investment Association report that you're referring to just came out a few weeks ago. It was done by the RIA with support from RBC corporate and RBC's global asset management group, the people who develop mutual funds and products for investors.
Yes, we see that there is a little bit of a chicken-and-egg scenario going on. There are not a lot of investable financial products out there for investors who are looking for a certain risk profile, but on the other hand, those financial products will never be developed if people don't start to put some money into them. The way we're trying to address it, frankly, is through things like the report we did with the RIA and other reports—I have a handout that's an excerpt from a report we did, “Financing Social Good”—to mainstream some of the concepts around social finance, presenting them in a language that is the same language that the traditional finance and investment community uses.
Certainly that was the first thing that struck me when I entered this space. It was like all those people doing social good were speaking a completely different language. I thought, “My goodness, we need a translator here.” We're trying to serve as a translator to make sure that the community sector and the finance and investment sector speak the same language, or, if not, can at least translate. We're doing that through some of the partnerships and some of the research pieces.
I think data and hard facts are the only way to break down some of the misconceptions, misunderstandings, and maybe trepidation about getting into this space.