Mumbai, July 10: Raintree Foundation, a non-profit entity that has been committed to building climate resilience in the Western Ghats since 2018, is registered on the BSE Social Stock Exchange.
The Social Stock Exchange (SSE) is a segment of the existing stock exchange that acts as a platform that allows an alternative fundraising option for social enterprises. It provides a transformative platform, fostering transparency and collaboration between the society and the marketplace. The listing process for SSEs is similar to an Initial Public Offering (IPO). By creating a dynamic synergy, it holds the power to amplify efforts that create positive social change.
Raintree Foundation works in Velhe, Maharashtra and implements its flagship ‘Sustainable Landscape Management’ model. Founded by Leena Dandekar, the Foundation’s primary mission to tackle the pressing challenges presented by climate change, the impacts of which are felt by both local communities and the planet.
Commenting on the listing, Kiran Vernekar, Global CEO, Raintree Foundation said, “Ringing the bell and being registered on the BSE Social Stock Exchange (BSE SSE) is a profound moment of pride and accomplishment for the Raintree Foundation. This milestone not only signifies our own success but also serves as a beacon of hope for the entire social impact sector. By gaining access to the SSE, we have unlocked a plethora of untapped opportunities, empowering us to harness innovative financial models and resources effectively.”
Abha Dandekar, Director, Raintree Foundation said, “We intend to leverage the registration on SSE to catalyse meaningful transformations, ensuring that social initiatives receive the support and visibility they deserve. With the SSE as our ally, we are poised to make an even greater impact on the lives of those we serve. Raintree Foundation embraces this opportunity and aims to forge a brighter future for all.”
The Social Stock Exchange as a concept is still novel to India. It was introduced by Finance Minister Nirmala Sitharaman in her Union Budget speech for the financial year 2019-20. Globally, various countries including Brazil, Canada, Jamaica, Portugal, South Africa, Singapore and the UK already have established SSEs. This promotes collaboration from the public with social enterprises to support development of social change initiatives across India.
Raintree Foundation believes that regeneration of ecosystems and development of living landscapes hold the key to combatting climate change. With unwavering dedication, Raintree is constructing sustainable, resilient, and vibrant ecosystems for the benefit of the people and planet.
