CSR & Sustainability Spotlight: IPB Insurance

/ 14th August 2020 /

IPB Insurance is a proud supporter of the Social Enterprise Development Fund, which is helping to address Ireland’s most critical social issues

The Social Enterprise Development Fund was set up to help scale Ireland’s most innovative social enterprises. Now in its third year, the transformative impact of the fund is becoming clear. To date, the SED Fund has supported 33 social enterprises, which in turn have provided services to 35,000 people and created 164 jobs.

The SED Fund is delivered by Rethink Ireland in partnership with Local Authorities Ireland, and is supported by IPB Insurance and the Department of Rural and Community Development via the Dormant Accounts Fund.

A social enterprise is a business whose objective is to achieve a social, societal or environmental impact, rather than maximising profit for its owners or shareholders. Like any business, they pursue their objectives through the provision of goods or services and they reinvest their surpluses into achieving social objectives.

The SED Fund has supported social enterprises all over Ireland to tell their stories, scale their impact and plan for the future. Delivering this fund has given the team at Rethink Ireland some important insights into the sector.

Social enterprises play critical role in addressing societal problems

Social enterprises offer sustainable and scalable solutions to a diverse range of social and environmental problems. The SED Fund has supported organisations that are working on issues including the underemployment of people with a disability, the lack of accessible and affordable mental health supports, and the need to reduce waste in our society. Social enterprises are particularly effective at creating jobs for people who have difficulty accessing the mainstream labour market.

Bounce Back Recycling was set up to create jobs for members of the Traveller community. Over the last three years, the social enterprise has diverted 25,000 mattresses from landfill, by recycling and repurposing soft materials from the mattresses into marketable products. Bounce Back Recycling is also contributing to a more inclusive economy by creating sustainable jobs for those who would otherwise have found it difficult to find work.

Social enterprises get people into work

Since 2018, SED Fund award winners have created 164 jobs in their organisations, many of which are specifically created for people who would otherwise be unemployed.

Gaining employment not only brings financial independence but many other benefits that can be taken for granted, such as friendships and development opportunities.

Deaf Enterprises in Cork, Ireland’s only dedicated employer of the deaf and hard of hearing community, trains and employs deaf or hard of hearing people in the trade sector. The enterprise employs a team of 28 people.

Social enterprises are adaptable

The social enterprise sector has experienced unprecedented turbulence due to Covid-19. However, many of the SED Fund awardees are demonstrating incredible resilience and innovation. For example, Green Kitchen Café in Walkinstown has adapted its services to meet the needs of local people who are self-isolating or cocooning.

The cafe, which creates employment for people with disabilities, has started delivering meals, free, to the most vulnerable people in Dublin 12, and is now delivering almost 400 meals a week.