Vesti Solidale is a type B Social Cooperative whose mission is the job placement of people with different types of vulnerability (physical and mental disability, alcohol and/or drug addiction and prisoners) and who find themselves in conditions of economic fragility. It operates in the circular economy, in environmental protection and in the dissemination of eco-sustainable consumption models through various activities including: the development of “Vesti & Rivesti”, which is a project dedicated to the management of the entire textile recovery chain, from collection and selection to re-use as “second hand” clothing; waste collection services directed at companies and aimed at recovery and re-use, through projects such as “Ricarica” and “Retech” (for the recovery of toner and electronic waste); and the “RESTARTER” Asset recovery project which is aimed at the re-use of IT equipment. Vesti Solidale is in the process of designing the largest social economy plant in Italy, which will cover an area of approximately 12,500 sq.m and will be dedicated to the recycling of used clothing, shoes, and bags.
Through its investment of €300,000 in equity in Vesti Solidale, Fondazione Social Venture Giordano Dell’Amore (“FSVGDA”) investing, has started the first trial in Italy of an innovative financing structure called “Impact Grant” which, through the adoption of specific legal and contractual instruments, enables a company that is the beneficiary of an investment to transform part of it into a grant, provided it achieves pre-agreed social impact objectives.