Create shared knowledge and promote common narrative & language around for-benefits and for-benefit thinking across the fourth sector ecosystem.
For stakeholders to engage, they need to first become aware of the fourth sector and the opportunities it presents them. Once aware and excited, key stakeholders in finance, technology, media, academia, law, marketing and communications, faith communities, and other areas can then advance their piece of the ecosystem in a way that furthers their own interests. For example, by practicing for-benefit law, lawyers will open themselves to a growing new market. Similarly, other stakeholders have interests that can be advanced through the fourth sector as they contribute to building its ecosystem.
Educate & Train
Current Initiatives Raising Awareness on the 4SG Platform:
Fourth Sector Development Initiative
An initiative of the World Economic Forum’s Global Future Council on International Governance, Public-Private Cooperation and Sustainable Development, the Fourth Sector Development Initiative is a collaboration of public, private, and philanthropic institutions committed to accelerating sustainable, inclusive development by catalyzing trillions of dollars of fourth sector growth globally by 2030. Supported by the Fourth Sector Group platform, FSDI fosters collective action globally to enhance knowledge and raise awareness about the fourth sector, to develop more enabling policy and regulatory environments for the fourth sector, to promote new business and investment models that are aligned with for-benefit enterprises, to increase educational and training opportunities for fourth sector practitioners and leaders, and to develop local and regional hubs to foster collaboration and accelerate fourth sector development in communities.
Fourth Sector Mapping Initiative
Established in 2014, the Fourth Sector Mapping Initiative (FSMI) is a global, multi-stakeholder collaboration to improve the quality and quantity of data on the fourth sector, to enhance policymaking, economic development, research, investment, and other ecosystem development. Led by a 180+ member Advisory Council of diverse experts, in collaboration with the Urban Institute, The B Team, and a growing network of other partners around the world, FSMI is conducting a global census of for-benefit entities and their supportive ecosystems, which will be combined with existing data from public agencies and private repositories and made available in an open, freely accessible, participatory “Data Commons” for the benefit of practitioners and the public. FSMI is also developing a rigorous classification system for identifying different types of for-benefit organizations.
Fourth Sector Policy Initiative
A global, multi-stakeholder collaboration to develop and promulgate a comprehensive fourth sector policy framework, including model laws that could be adopted at the national, state and local levels around the world. To inform the work, the Fourth Sector Policy Initiative is undertaking a research effort in collaboration with DLA Piper and other partners to examine recent legal and regulatory reforms which have been adopted around the world to recognize and support for-benefit organizations.
Fourth Sector Data Commons
To meet the global demand for better data and understanding about for-benefit organizations, the goal of the Fourth Sector Data Commons is to create a comprehensive, worldwide source of information on the scale, scope and performance of for-benefit organizations, their supporting ecosystem, and other closely aligned organizations. It will be an open, freely accessible, participatory, cloud-based platform that enables users to pool and access existing sources of relevant data; gather, update, expand, and deepen data on ongoing basis; and perform business, impact, and policy analysis and research. A component of the Fourth Sector Mapping Initiative, the Data Commons will be developed and stewarded for the benefit of public agencies, practitioners, researchers, consumers, economic developers and other members of the fourth sector community.
Ibero-American Fourth Sector Project
The Ibero-American General Secretariat (SEGIB) is launching an international project aimed at supporting the development of the fourth sector in Latin America and the Iberian Peninsula. This project will fund a number of studies that will analyse the potential contributions of this new sector, as well as exploring ways to overcome the main regulatory, financial and cultural barriers that currently constrain its growth. The project will also conduct a series of entrepreneurial activities in several countries in order to raise awareness on the benefits of the fourth sector among entrepreneurs, policy makers, and citizens. By doing so, SEGIB intends to contribute to the creation of a more prosperous, sustainable and inclusive economy aligned with the Sustainable Development Goals (SDGs) of the 2030 Agenda and the general interest of the Ibero-American people and global society.
OXFAM - Future of Business Initiative
Oxfam's Future of Business Initiative advances a portfolio of projects supporting for-benefit enterprises—businesses that prioritize social aims and put the interests of workers, farmers, communities and consumers alongside those of investors. Oxfam will help for-benefit businesses to access finance, work with global companies on how they can include such businesses in their supply chains, and investigate how for-benefit businesses can contribute towards tackling global inequality.