In the third stage (beyond 5 years) it is anticipated that the newcomer is now integrated into Canadian society. What is not known is how fully integrated they are, as there are few longitudinal studies that measure social inclusion and other long-term impacts in the sector. Similar to the second stage of integration, this third stage finds that newcomer needs are similar to those of other Canadians.
The overall objective in this third stage is for integration to become a two-way process. This means that it is not only foreign-born individuals that must integrate into Canadian society, but also Canadian employers and social service providers (e.g., hospitals, schools and libraries) that must adapt in order to remove barriers for newcomers and to realize the economic and social benefits of immigration.
Most social finance models that would serve newcomers in this stage do not have specialized newcomer programs or targets, but are sensitive to not placing barriers in the way of access to capital.
Research conducted by Purpose Capital and the Carleton Centre for Community Innovation identified a few social investment funds that invest in service provider organizations that operate social enterprises that provide diversity and cultural sensitivity training to the private and public sector, for a fee. The research also identified a micro-loan program that aims to provide affordable access to credit for long-term migrants in the United States who are eligible to apply for citizenship but have not yet done so due to financial barriers.
In this third stage, all investors have a role to play in encouraging corporate and public policies that are inclusive of migrants and refugees. For example, pension funds might engage with companies to ensure board diversity and equal employment opportunities. Moreover, these same investors could ensure that their own executive and leadership represents the diversity of the society and economy in which they operate.
*The content on this page summarizes information presented in the Social Finance for the Settlement and Integration Sector in Canada Market Assessment Report (April 2016), produced by Purpose Capital and the Carleton Centre for Community Innovation. Please consult the full report before making any attributions or references to this work.