The Clean Money Revolution: Reinventing Power, Purpose, and Capitalism

by Joel Solomon, Tyee Bridge (With)

"[Joel is] a beloved local financial superhero, and this book is a brilliant roadmap to purposeful investing." ―Catherine Ludgate, Manager of Community Investment, Vancity By 2050, $50 trillion will change hands in North America in the largest generational wealth transfer ever. It will remake the world and be the biggest money-making opportunity in history. "Business as usual," founded on exploitation and environmental ruin, is over. Climate catastrophe, reactionary politics, and widening inequity have put the world on edge. Meanwhile innovations are shifting the economic ground, and an entire generation is pounding the table for real change. Capitalism is evolving into a force that can restore the planet, transform the global economy, and bring justice to people. Joel Solomon, impact investor and change agent, lays it on the line. The Clean Money Revolution is part memoir of an inspiring thought leader's journey from presidential campaigner to pioneering investor, part insider's guide to the businesses remaking the world, and part manifesto for a new vision of profit, power, and purpose. Meet some of the people behind this massive shift, and discover the role you can play in the $50-trillion movement toward true prosperity. A must-read for investors, wealth advisors, aspiring entrepreneurs, and all who want their values and money to work together to transform the future. The Clean Money Revolution is on. Join it! "Good helpful stuff to do with your filthy lucre." ―Margaret Atwood, author of The Handmaid's Tale "Joel Solomon so eloquently lights the path society needs to take in order to ensure future generations can flourish on a sustainable planet earth." ―Reverend Yearwood, President of the Hip Hop Caucus AWARDS

Genres: Business, Nonfiction, Sustainability, Economics, Finance, Money

272 pages, Hardcover

Published May 1, 2017

About the author

Joel is Co-Founder and Chair of Renewal Funds, Canada's largest mission venture capital firm, with $98m under management. Renewal Funds invests in Organics and Envirotech. He is also the author of The Clean Money Revolution .

With Founder + Funder Carol Newell, Joel implemented a "whole portfolio activation to mission" strategy as leader of her "activist family office". As ED of the Endswell Foundation they spent down a $20m endowment, leaving Tides Canada Foundation and Hollyhock as legacy charities while supporting BC's renowned environmental community.

As CEO of Renewal Partners' seed capital fund over $10m was placed into dozens of green companies.

Reviews

[Maayan K · Rating 2 out of 5]

This book suffers a bit from what I call "present-future confusion syndrome". It's when visionary people (usually men) conflate the things they would like to see happen with what's actually happening right now.

In this case, while there are some hopeful and promising things going on in the world of ethical and mission-based finance, banking, and investments, it's by no means a "revolution" - that is totally laughable. Business as usual is marching us to our collective deaths as carbon emissions soar, and ecological destruction continues unabated. You can't have a realistic discussion without putting that science front and centre. Solomon fails to do that.

This book is meant to inspire people with money to be more proactive, ethical, and responsible with their wealth. And that's a good thing. But to do that, Solomon keeps the tone upbeat. On top of glossing over the science of where we are heading, he also barely engages in the system of entrenched power and money that dictates why his great ideas aren't more mainstream already. He never, once, states the obvious: big corporations and the politicians that serve them are just fine the way things are, thank you very much, and don't seem bothered that they are sending billions of people to starvation and death this century due to runaway ecological disaster.

The harsh reality of the predicament we are in and why we are in it simply doesn't show up. For someone aspiring to revolution, that's a bit strange. I admire the work Solomon has done and I agree with most of what he advocates, which goes deep into the base of the financial system in many ways. But the presentation of these ideas as a revolution that's already happening rather than as a tiny blip in the real story of the world right now, is delusional. I share his lofty aspirations. But I will not pretend that rich people completely voluntarily being a little nicer (his apparent theory of change) is the thing that's going to get us there. There are real reasons why bad actors remain and thrive, pushing the world to ecological disaster. Solomon is cheerleeding for the neutral or conscience-stricken rich people to be a bit better. That's nice. But it's not the reality of power or what drives social change.

Important footnote -Solomon now sits on the board of The University of British Columbia, a public university that has a 2.2 billion dollar endowment that it has not even divested from fossil fuels, let alone done anything values-driven with its vast wealth. It has fought tooth and nail against the students and faculty who have been pushing for fossil fuel divestment for seven years while throwing them a tiny bone in the form of a puny "sustainable futures fund" to shut them up while the rest of the endownment remains invested however their management company sees fit. Solomon, in this book, says that universities investing in the destruction of life on this planet, and justifying it by touting fiduciary responsibility, should be illegal. I want to know what he's doing about it now that he's on the board of exactly such an institution.

[Kelly · Rating 1 out of 5]

Here is the most telling paragraph in this book: "Once you have a certain level of wealth, as global capitalism grows, so does your money. This drives increasing inequity. Wealth buys access to better returns, and ownership of capital usually translates into more capital. Favorable tax treatment further grows the money. Through the labor of others and the ever-more-refined exploitation of natural resources, fabulous wealth can be made simply by making clever investment choices from your desk chair. More money makes it easier to make even more money. Influencing tax rates, regulations, and legislation through the power of wealth adds icing on the cake."

This is not taken out of context. The author writes that with pride, oblivious to the flaws in a system that perpetuates what he claims to be addressing through his impact investing. I know the author means well. But go read Winners Take All: The Elite Charade of Changing the World first to prepare yourself for reading this book with a critical mind.

[Katie Ormiston · Rating 5 out of 5]

This book is a treasure map to a better world. It belongs in ambitious, values-driven hands.

[Conrad · Rating 4 out of 5]

Good presentation of Joel's story and his predictions for the future of Clean Money, which is basically any kind of financial alignment towards mission based capitalism. Really good book for me to read at this time and there are a lot of good examples and things to think about in order for someone to activate their personal holdings in the pursuit of a mission. The world is changing. Are human systems changing with it? Let's hope so.

[Juan Pablo · Rating 4 out of 5]

I read this book because of my involvement with the Integrated Capital Institute promoted by RSF finance to teach and help create social and ecological finance activists. It’s main premise is that capitalism has done a lot of unspeakable harm but that also capital can help heal and regenerate society and the planet.
Although I agree with the part that today we can use capital as a weapon for social and ecological justice I don’t agree with the book when it says that capitalism can be reformed and become a system for good. Capitalism must disappear because of its intrinsic contradictions that other books and authors prove very effectively (such as Wolfgang Streeck’s How Will Capitalism End; and David Harvey’s, 17 Contradictions and The End of Capitalism; and many more).
The book is inspiring as an introduction to Integrated Capital and Impact Investment that can, in my own opinion, help create a favorable situation for a very inevitable post-capital society. This includes investments in large scale cleaner energy sources, worker owned institutions that empower collective ownership, specially with marginalized groups.
This book will help me on my anticapitalist journey and struggle, even if it is not anticapitalist in essence (although it presents a big criticism of capitalism).

[Ellen Sue · Rating 5 out of 5]

THE CLEAN MONEY REVOLUTION
Reinventing Power, Purpose, and Capitalism
By Joel Solomon with Tyee Bridge

In the very beginning of the book is a page with a lotus blossom, with this statement above it: “May this book reduce suffering, honor the biosphere, and support thriving resilience for future generations.” I could never imagine a book on investing would have this as its purpose. Revolutionary reasoning, indeed !!

Reading this book was eye-opening for me because I have never invested any amount of money in stocks, bonds, or similar outlets, mainly because I never had money I could lose in case the stock market dropped. I decided to speak with my husband’s financial advisor/stock broker and see if I could invest small amounts of money in “green” companies that align with my concern for the planet and my tight budget. I also purchased Investing for Dummies and checked out a couple of books from the library so I could at least know the terminology and “buzz words.”

I was not prepared for how I would react to this book, since I am ignorant of financial investments, possibly because it is also a memoir by the author, Joel Solomon and how he became a socially responsible investor. Earlier in the book he tells about his life-threatening illness, PKD (Polycystic Kidney Disease), which took his father’s life and several of his relatives. (Eventually Solomon had a kidney transplant and is now in his sixties.) He attributes this healing process to the fact that early on, his doctor recommended he eat clean foods (organic), so he changed his diet that helped to heal his body. This gave him the idea that why not heal the planet with “clean businesses.” And so began his investment journey, spurred by money from his father’s thriving business.

What I enjoyed about this book, in addition to Solomon’s personal “investment” in his own life, are the profiles of other people who have created green businesses. Real life examples always work for me, because they allow me to identify or understood the points being made since they are not abstract ideas, but true life experiences. For example, he writes about a company called the Mamma Chia Company, started by Janie Hoffman. Mamma Chia is an organic food and drink company that Hoffman started because she struggled for 20 years with multiple autoimmune issues and healed herself with chia seeds.* (Another example how personal health issues spurred a change to cleaner living.) She noted in the book that she started her company because she experienced the magic of chia firsthand and wanted to share it with the world.
There are 10 interesting chapters in this book, from Quest for Purpose to Clean Money Emergence to the final chapter, The $100 Trillion Question. Here is a direct quote from that chapter that summarizes, for me, the importance of green investing:

“All the voices in this book have made the case for an awakening of consciousness. We should listen, and admit that how we make money cannot be separated from our morals and ethics….Fiduciary responsibility has traditionally meant making the highest return rate for owners, exclusive of the damage such investments cause. The mindset must be reinvented. It must change to include the long-term health of the whole planet.” (p. 224)

The author also invites the reader to make our own journey of discovery, which is what this book has triggered for me. I am exploring responsible investing with this part- memoir and part guidebook as my personal guide. I encourage you to do the same, even if you are already investing. This book will clarify the importance of investing with a clean conscience that may help mega-big corporations change their manufacturing practices to reflect a concern for our home, Planet Earth.

The Clean Money Revolution ($19.99) is published by New Society Publishers (www.newsociety.com), which is “an activist, solutions-oriented publisher focused on publishing books for a world of change…” All their books are printed on post-consumer recycled paper, chlorine-free with vegetable based inks, carbon neutral, and other attributes such as environmental benefits, available on the back page of the book.

*By Hannah, Facty StaffFact Checked Updated: Jan 20, 2021
Chia seeds are an ancient superfood -- they were a mainstay of Aztec and Mayan diets because of their nutritional value. The word "chia" means strength in the Mayan language, and the seeds were known as runner's fuel. This concentrated protein source is also rich in fiber, helping keep the body full and energized for hours. Chia seeds are easy to add to any diet and can be used to make puddings, added to baked goods, or sprinkled on cereal or savory dishes. When added to a liquid, chia seeds expand into a gel, which makes them a great plant-based option for thickening sauces or replacing eggs.

[Guy Dauncey · Rating 5 out of 5]

This is a great book. It’s personal, committed, passionate, informative, and full of great stories. For an addicted change-the-worlder, what more can you ask?

And the stories, from Joel’s personal life and those of his colleagues, are about one of the most important challenges we need to embrace on our planet - changing the way we invest our money.

That’s no small challenge. Over the next thirty years the baby-boomers will pass $100 trillion to the next generation. That’s a hundred million $1,000,000 legacies. If we are thoughtless, if we act without vision or if we act without purpose, that money will support the dying decades of fossil-fuel felonies. It will pump more carbon into the atmosphere, suck more fish out of the sea and drive more species to extinction.

If we are not thoughtless, however, it could have a tremendous impact. “Over the next the decades,” Joel writes, “I propose we shift that $100 trillion from destructive and misdirected uses to regenerative ones.”

If you have a comfortable amount of savings, you can do one of three things:

First, you can do nothing, trusting your bank or investment advisor to invest your money for you. Right.

Or, you can find a socially responsible investment advisor and direct her or him to invest your money in funds that are free of fossil fuels and other undesirables.

Or, you can do what Joel Solomon has done for much of his life and invest your money in start-ups that are committed to making a difference in the world. It’s called impact investing, social ventures, or mission venture investing, and Joel’s book is full of examples, many in the field of healthy organic food and farming, such as Stonyfield natural yoghurt and Ben & Jerry’s, and regenerative urban design - Joel used some of his inheritance to invest in urban start-ups that helped turn Nashville around and make it what it is today.

Back in the 1980s, when some early pioneers wanted to be sure that their savings were not supporting apartheid in South Africa, there were no socially responsible investment funds. By the end of 2016 one in five of every dollar was under professional management in the US. That’s $8.72 trillion that was being invested with socially responsibility in mind. The movement is steaming along, and we’ve hardly begun.

I was speaking to an audience of environmentally conscious elderly people in Vancouver recently, and I asked how many knew where their savings were being invested. Out of a hundred people, only eight hands went up. Imagine the change we will be able to nourish when it becomes the norm to invest our savings with the same level of attention that we give to personal washing, washing up, and recycling.

We understand the word ‘clean’ - so we need to clean our money too, and Joel’s book is a great guide to the adventure. Each of us has brain cells that are sitting idle, waiting to be inspired by stories of the clean money revolution, and once they are fired up they want to get engaged.

If you want an advisor who can shift your investments to socially responsible funds, in Canada go to the Responsible Investment Association (www.riacanada.ca), and click on the map to find a local advisor. In the US, go to www.ussif.org, and click on the Financial Services Directory. In Britain, go to www.ethicalinvestment.org.uk and click on ‘Find a financial advisor’.

If you want to be socially adventurous, I can’t think of a better start than Joel’s book. It’s a great field guide to investing with purpose, and it’s also full of the honesty and wisdom that older age hopefully brings.

“Intellectually,” Joel writes, “I’m highly pessimistic. Logic tells me we are in a heap of trouble. But I have no clue what the future will bring. I’m simply not smart enough for that. I’ve planted my flag in the camp of hope, faith, love. I must believe in a brilliant, resilient future.”

And what about that $100 trillion? To cap off his storytelling, Joel takes a stab at investing it: $10 trillion to make reparations for colonialism and slavery; $20 trillion for the transition to 100% renewable energy; $10 trillion for wars and weapons industry reduction; $10 trillion for the transition to a steady state economy; $10 trillion for soil restoration and carbon capture; $10 trillion for sustainable transportation; $10 trillion for green living buildings; $10 trillion for guaranteed income, healthcare and education; $10 trillion for zero waste. It makes it sound easy - and the money will be there, if we choose to invest it in our planet’s future, our children’s future.

As Joel says, “Let's be billionaires of good deeds, billionaires of love, billionaires of meaning and purpose.” If we all share in the effort, we can do this.

[Gino Borges · Rating 5 out of 5]

Joel Solomon’s The Clean Money Revolution: Reinventing Power, Purpose, & Capitalism is by far the most refreshing financial book I’ve read in a very long time. Joel insightfully unfolds a strong argument for the potential for — and the current momentum towards — the business of doing good. His weaving of autobiographical stories throughout his persuasive perspective quickly drew me in and will likely feel just as familiar to many others drawn to this book.

This book is written for optimists and skeptics alike. It will appeal most to those who have already begun either questioning or actually doing the work of unravelling our layers of conditioned beliefs. This is where Joel’s wisdom really hits home. For several years, I’ve shared a similar message of the necessity of inner clarity, personal development work, and a seamless connection between our inner and outer realms in order to fully show up as a ‘whole investor.’ In chapter 9, Joel dives into this premise in depth. His many years of self-examination and transcendent discoveries shine brightly through this chapter. Joel points out the root of many of today’s problems — be them economic, environmental, social, or personal: an unquestioned, reactionary life. He calls for the need to inquire into our own motivations and patterns, our inheritance of limiting beliefs, our deepest values and the calling in our lives that truly lights us up.

After presenting the real potential for a global transformation of the way capital serves humanity and the planet in the previous 8 chapters, Joel settles on the personal work each of us must do in order to even be able to step up and embody the values we want our money to extend into the world. He beckons us to be the change we wish to see.

My copy of The Clean Money Revolution has several underlined passages and emphatic “Yes!” markings throughout. Joel has thoroughly unpacked the logic, psychological underpinnings, and desperate need for this revolution. My sincere hope is that it falls into the hands of those ready to make the necessary changes. We each have a role to play in this transition from destructive to regenerative capital, and I’m grateful for luminaries like Joel to help light the way.

[Bernie Geiss · Rating 5 out of 5]

Joel's book is a brilliant combination of excellent writing, diverse perspectives, facts and anecdotal evidence. He has done an excellent job of expressing the issues relating to dirty money and the many solutions presented by clean money. His writing is non-confrontational and compassionate. His humility of expression and genuine appreciation for the people that have influenced him is inspiring. The words come from a place of truth and egolessness. They are also intensely person which takes courage. Being in the financial services industry this book gives me hope that change will come and a new clean money rejuvenative economic model is a possibility. It encourages me to continue to build our business to help accelerate this shift in any way we can. I had no idea how much positive work is happening in the world around me until I read this book. I bow down to all those pioneers who have bravely taken on the task of bringing about the clean money revolution. Thanks to Joel and everyone in the book for all your hard work.

[Rufo Quintavalle · Rating 5 out of 5]

There are plenty of books pointing out what is wrong with the current financial system. And there are others that tell you what ought to be done about it. What I like about The Clean Money Revolution is that it gives you a step-by-step guide for how someone with wealth and a serious desire to examine themselves can go about creating exponential change. This isn't just moaning about the state of the world, it is showing you how one person decided to change it. This book is also a pleasure to read; there is a colorful, eccentric cast of characters which make this feel more like a novel than a work of financial literature. Bravo, Joel Solomon!

[Debnelson14icloud.Com · Rating 5 out of 5]

If you're wondering what can be done to get off the destructive path we're on, you must READ THIS BOOK. It connects the dots and presents a roadmap for the big shift to a resilient, regenerative economy. Joel has a deep understanding of wealth psychology, what it takes to effect systemic change, and how to leverage money for the greatest good. He's pragmatic, intensely insightful and knows what works (based on three decades of experience as a successful investor, entrepreneur and organizer). The Clean Money Revolution is a great read. And it gives me hope.

[Tom Ransohoff · Rating 4 out of 5]

Great overview of the philosophy behind investing in alignment with your philosophy. In this case, the focus is on the author's philosophy of supporting organic foods and sustainable farming practices, addressing climate change, and restoring rights of native Americans among other things. I found this to be an engaging and well-written autobiographical story, and I learned a lot from the author about the power of intentional investing. I'd definitely recommend this for anyone who cares about influencing the world in a positive way through their investments and philanthropic pursuits.

[Jen · Rating 4 out of 5]

Really eye-opening: Joel Solomon has persuaded me to be more aware of where I put my money/what I invest in and what it means to be a conscious consumer. I super appreciate his actions & awareness toward First Nations and the land he resides on.

The vignettes were helpful but I didn't think were particularly interesting; I also listened this via audiobook, so the interviews were awkward because they were read only by Joel. Nevertheless, I'm glad I spent time learning about the clean money revolution.

[Paul · Rating 3 out of 5]

I won this in one of the Giveaways, thank you. I don't know a lot about what goes on in the financial world so those parts were over my head but mostly I got the gist of the book and its great that there are wealthy people out there that are giving back to the community and for our future. All sounds very promising for generations to come

[Polly · Rating 5 out of 5]

Loved this book. It's a story of Joel's personal journey and evolution and the story of making conscious and thoughtful decisions around the impact of money. The book provides resources about social impact investing for anyone interested in learning more about using their money for good. It's a great book.

[W.L. Bolm · Rating 4 out of 5]

This was an amazing book with a lot of potential to help straighten out the messes Western culture has gotten itself into. A lot of good, real world success stories and applications of clean money at work and ways we can invest in the future.

I do wish there was more on what people with less than millions in the bank can do to divest/invest smaller sums. Maybe that's an entirely different book.

[Mac · Rating 4 out of 5]

Powerful half-biography half call to action from a person who has helped form a movement of regenerative investment. Very inspiring, but lacks details of a blueprint for those of us who don't have gobs of money or inheritance lying around to afford his firm's minimum $500,000 investment. It would come across smug if he weren't so damned humble and focused on the greater good.

[Charlie Richmond · Rating 5 out of 5]

Excellent, fascinating and entertaining history of the background behind this development and extremely important guidelines and roadmap for the Revolution. We all need to understand the direction things are going so we can all, in our own way, make sure it happens!

[Joel Blacker · Rating 4 out of 5]

An interesting insight into the world of high net wealth investing, particularly for those who take ownership for the impact of their money. An incredible reminder to bridge the moral and mental disconnect between our money and the world it is funding.

[Belz]

felt like i was actually his target audience with this book, which is a surprisingly uncommon feeling.
the local Vancouver references, the companies, the industry, the jobs i'm interested in, the style of persuasion that even reminds of myself. fascinating.

[María Pardossus · Rating 5 out of 5]

We all need financial education, but what about starting by understanding money in a wellness perspective? Loved the purpose of this book, shows and teaches you to refrain oneself of being a cynical investor. Great way to start on investment topics!

[Alexandra Aplin · Rating 5 out of 5]

More than ever at this time in history, this book should be read by everyone on the planet. Maybe the world would become a sweeter place....

[Ari Mostov · Rating 5 out of 5]

I recommend to anyone who wants to use their capital for impact.

[Mathew · Rating 4 out of 5]

This book was a good read and really opens your eyes to what we can do as a society to help make money more clean and stop the spread of pollution.

[Sylvie M. · Rating 5 out of 5]

This is inspiring,but fall short in educating those with little to resoursesinvest.

[Kevin]

I'm not convinced by the sweeping assessments made in this book.

[Madeline Lucas · Rating 4 out of 5]

Great book, we think about clean food and supply chains, what about our money? Where it comes from and where it goes when we spend it.

[John Munroe · Rating 5 out of 5]

I'm now on my second reading of this groundbreaking book by one of North America's most respected social venture capitalists, Joel Solomon. A living example of leveraging an individual lifetime of tragedy and hope to propel some of our planet's greatest entrepreneurial promise to positions of regenerative influence, Joel inspires both by example and by his own personal courage and charisma. Joel Solomon is the real deal, and his book is both engaging and motivating in terms of redirecting our wealth toward people, profit, and planet. In other words, the present and future for ourselves and our children. Highly recommended!