Immediate release:
Issued by Clann Credo - the Social Investment Fund
CLANN CREDO CHIEF EXECUTIVE APPOINTED TO EU EXPERT GROUP
“Social Business Part of the Solution for European Economic Recovery”
Dublin, 13 June - Clann Credo - the Social Investment Fund today announced that its Chief Executive, Paul O’Sullivan, has been appointed to the Expert Group of the European Commission on Social Enterprise.
The group was convened by the European Commission to advise it on the implementation of its Social Business Initiative*. Each member state can appoint one civil servant to the new body, which is supplemented by 44 experts selected from across the EU. The experts are drawn from regional and local authorities, social business, the banking and finance sector, academic institutions and think-tanks. Mr O’Sullivan was one of 10 experts selected across Europe from the finance sector.
The Expert Group’s main task will be to follow up on the development and implementation of the 11 key actions envisaged in EU Social Business Initiative, an action plan to stimulate the creation, development and growth of social businesses** across Europe.
The group has been set up for six years (2012 - 2017) and will be consulted by the Commission on the opportunity, development, setting up and implementation of other actions to further the development of social enterprise and social entrepreneurship.
The importance attached to the Social Business Initiative is reflected in the fact that it is one of the twelve measures adopted by the EU Heads of State in April 2011 to give new momentum to the Single Market, the core economic driving force of the EU.
In his role as CEO of Clann Credo, Mr O’Sullivan has for many years been at the forefront of the development and promotion of social enterprise in Ireland. He founded the Social Enterprise Task Force in 2010, which successfully advocated for the inclusion of social enterprise in the Programme for Government and the 2012 Jobs Action Plan. Mr O’Sullivan is currently leading the scoping exercise on the potential of Social Impact Investment (SII) on behalf of the Advisory Group, which will report to Government.
Commenting on his appointment, Mr O’Sullivan said: “Social enterprise is not just seen from a social inclusion perspective, but as a real part of the solution for European economic recovery; it is an essential tool to bring back growth and a new type of growth to the European economy. This recognition at EU level presents Ireland with an opportunity to get tangible support in implementing its commitment to promote Social Enterprise and attract new forms of investment and jobs to local communities from new funds such as the proposed European Social Entrepreneurship Fund – EuSEF. ”
//ENDS
Note to Editors
Paul O’Sullivan, Chief Executive Officer of Clann Credo Credo is available for interview. Contact Gert Ackermann on Tel: 086 176 9287 or email gert@clanncredo.ie. A photograph can be supplied.
* About the EU Social Business Initiative
** About Social Business
The European Commission uses the term 'social business' to cover an enterprise:
- whose primary objective is to achieve social impact rather than generating profit for owners and shareholders;
- which operates in the market through the production of goods and services in an entrepreneurial and innovative way;
- which uses surpluses mainly to achieve these social goals and
- which is managed by social entrepreneurs in an accountable and transparent way, in particular by involving workers, customers and stakeholders affected by its business activity.
About Clann Credo
Clann Credo – the social Investment Fund is a leading provider of social finance to community and voluntary organisations, community businesses and social enterprises. In 2011 it provided loans of over €10 million to projects across Ireland. See www.clancredo.ie
Clann Credo is a registered charity (CHY Number: 13308) and a company limited by guarantee (Company Number: 253147).
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