Social finance for sustainable food systems: opportunities, tensions and ambiguities

Phoebe Stephens ()
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Phoebe Stephens: University of Waterloo

Agriculture and Human Values, 2021, vol. 38, issue 4, No 16, 1123-1137

Abstract: Abstract In recent years social financiers have been increasingly investing in alternative food systems to improve sustainability outcomes. However, social finance for alternative food systems remains small and marginalized. This article seeks to understand why this approach is not yet making a larger impact towards food system transformation. It does so by investigating a specific application of social finance through the case of Slow Money to get answers as to why social finance occupies a niche role in food system transformation. These answers provide helpful lessons for Alternative Food Networks (AFNs) seeking to transform food systems towards greater sustainability. This study tracks the intended impacts of these initiatives and provides insights about the potential role of social finance for promoting AFNs. Key themes emerged regarding the ability of social financing initiatives to support AFNs and transform the food system for greater sustainability. These themes resonate with the literature on AFNs in meaningful ways, but also highlight an important contradiction between systemic change and individual action. The findings show that the Slow Money model contains some useful elements for radical transformation but is ultimately limited in its ability to support deeper, transformative change. The conclusion advances recommendations for ways of enhancing the transformative potential of community financing initiatives in light of the findings, emphasizing the role of public investments.

Keywords: Social finance; Sustainable food systems; Impact investing; Sustainability transitions (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/s10460-021-10222-0

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