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Top Stories
Sun King raises $130 million through securitization of off-grid solar payments
Africa | May 31, 2023
Featured: Proxy Season
Big Chill: Political backlash and legal threats sap shareholder support for climate action and ESG. Shareholders are voting on a record number of resolutions related to corporate action on climate and environmental, social and governance factors at this year’s annual meetings. But support for such resolutions is flagging as major asset managers recalibrate their proxy-voting strategies in the face of a coordinated campaign by Republican state attorneys general, including threats of legal action. Last year, more than 30 proposals won majority approval. “We’re nowhere near that,” said Heidi Welsh of the Sustainable Investments Institute. “The really big players are stepping back. They’re spooked a bit by the anti-ESG rhetoric.” Today’s test: shareholder resolutions at ExxonMobil’s annual general meeting that call on the oil giant to detail the risks of climate-related litigation, report on methane emissions, and quantify the costs of retiring assets to comply with net-zero scenarios, among other proposals.
Dealflow: Sustainable Securitizations
Sun King raises $130 million through securitization of off-grid solar payments. Public agencies and private companies from California to Cote d’Ivoire are leveraging cash flows to finance climate adaptation and green initiatives. Social enterprise Sun King has struck a deal to securitize $130 million in current and future customer payments for its solar products. The debt financing is denominated in Kenyan shillings and backed by British International Investment, Stanbic Bank Kenya, Citi and other development finance and banking institutions. “This securitization could be key to unlocking the extensive capital needed to fund solar energy initiatives at the scale the climate crisis requires,” said Sun King’s Anish Thakkar. BII and Stanbic separately provided Sun King with $20 million in working capital.
Agents of Impact: Follow the Talent
Former Enel CEO Francesco Starace joins EQT Infrastructure as a partner… Elemental Excelerator is hiring a chief of staff in the San Francisco Bay Area… Root Capital is looking for a gender equity advisor in Indonesia… The Alliance for Community Development seeks an executive director in San Francisco… Aspen Institute and Rutgers University are hosting the Employee Ownership Ideas Forum in Washington, DC, June 14-15.
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Podcasts | May 26, 2023
Why employee ownership is the next big thing in impact, and America with Jack Moriarty
Jack Moriarty of Ownership America chats with ImpactAlpha’s David Bank about employee ownership and new legislation to help investors back companies that are …
Agents of Impact | May 26, 2023
Jessica Espinoza, 2X Global: Proving gender as a value-driver
ImpactAlpha, May 26 – A decade ago, investors pushed back against the loan products Jessica Espinoza was designing for female business owners as …
Low-carbon transition | May 26, 2023
ImpactAlpha Deal Spotlight: Carbon removal
ImpactAlpha, May 26 — After soaring in 2021, voluntary markets for carbon credits slumped last year amid reports and investigations that took aim …
Editor's Picks
Podcasts | May 26, 2023
Why employee ownership is the next big thing in impact, and America with Jack Moriarty
Jack Moriarty of Ownership America chats with ImpactAlpha’s David Bank about employee ownership and new legislation to help investors back companies that are …
Agents of Impact | May 26, 2023
Jessica Espinoza, 2X Global: Proving gender as a value-driver
ImpactAlpha, May 26 – A decade ago, investors pushed back against the loan products Jessica Espinoza was designing for female business owners as …
Low-carbon transition | May 26, 2023
ImpactAlpha Deal Spotlight: Carbon removal
ImpactAlpha, May 26 — After soaring in 2021, voluntary markets for carbon credits slumped last year amid reports and investigations that took aim …
Top Stories
Sun King raises $130 million through securitization of off-grid solar payments
Africa | May 31, 2023
Capricorn Investments makes the outsourcing case to foundations and families seeking impact alpha (podcast)
Impact Investing | May 30, 2023
Ghana’s Kofa raises seed round for multi-purpose EV batteries
Africa | May 30, 2023
Job Description: Impact investing reporter
Impact Careers | May 29, 2023
ImpactAlpha Deal Spotlight: Carbon removal
Dealflow | May 26, 2023
Health is too important to be left to the health sector alone
Impact Voices | May 25, 2023
Impact Muni Bond: Social bond to tackle poverty and unlock growth in Philadelphia
Dealflow | May 25, 2023
Ownership Economy
Clegg Auto | Photo credit: Clegg Auto
Ownership Economy | May 24, 2023
A Utah auto shop demonstrates a pathway to worker ownership via a perpetual purpose trust
ImpactAlpha, May 24 – The mechanics and other employees at Clegg Auto’s four car-repair shops in northern Utah since last fall have received an …
Ownership Economy | May 24, 2023
Ford Foundation pushes to add worker ownership to the ‘quality jobs’ toolkit
ImpactAlpha, May 24 – The Ford Foundation liked the “quality jobs” focus of Two Sigma Impact, the private equity manager that last month raised …
Inclusive Economy | May 23, 2023
Funders commit $10 million to combat California’s housing crisis with community ownership
ImpactAlpha, May 23 – Nearly 30% of America’s homeless live in California. Among the state’s extremely low-income households who are housed, nearly 80% …
Dorcia Whitebrake, an Everytable franchisee candidate. Photo by Everytable.
Ownership Economy | May 18, 2023
With inclusive loans and business support, franchise ownership offers a path to wealth for entrepreneurs of color
ImpactAlpha, May 18 — Employee ownership is having a moment. One promising strategy: democratizing the franchise model to widen pathways to ownership and …
Oakland, California
Inclusive Economy | May 9, 2023
Turning local community ownership projects into a national movement
ImpactAlpha, May 9 – Kentucky Derby winner Mage isn’t the only community-owned asset with national momentum (almost 400 fractional investors held a 25% …
Photo credit: CoolIT
Return on Inclusion | May 4, 2023
KKR acquires CoolIT to advance both climate impact and worker ownership
ImpactAlpha, May 4 – The world’s growing uses for data are creating an environmental problem: data centers consume a lot of energy. Preventing …
Africa | April 17, 2023
Secha Capital’s investment in South Africa’s FarmTrace will support growth and employee ownership
ImpactAlpha, April 17 – Private equity firm Secha Capital made its name as an early investor in South Africa’s bread and butter businesses. …
Call Recording | March 31, 2023
Metrics Madness: Wealth, ownership and ‘quality adjusted life years’ (video)
ImpactAlpha, Mar. 31 – The search for a universal metric to guide investments in racial justice and equitable wealth-building was…aspirational. “We are still a …
photo: Christopher Burns
Ownership Economy | February 21, 2023
Move over, private equity. Here comes worker ownership.
ImpactAlpha, Feb. 21 – Who better to buy an established, profitable small business than the employees who work there? They know the operations, the …
Ownership Economy | February 14, 2023
Social Capital Partners widens its ‘ownership lens’ with $2 million fund
Social Capital Partners, the Toronto-based nonprofit, has made a specialty out of convincing Canada’s pension funds to invest in U.S. worker-ownership conversions through …
Looking Ahead to 2023 | December 21, 2022
Abundance, ownership and inclusion hold keys to shared prosperity in 2023
ImpactAlpha, Dec. 21 – Real solutions. Real revenues. Real places. While other investors chased crypto and other tech fads, inclusive investors were finding …
Return on Inclusion | November 30, 2022
Through ‘ownership trusts,’ investors can help employees become owners and owners retire
ImpactAlpha, Nov. 30 – Patagonia founder Yvon Chouinard’s unusual succession plan made waves with its massive commitment of the family-owned company’s future profits …
Muni Impact
Philadelphia, PA
Muni Impact | May 25, 2023
Impact Muni Bond: Social bond to tackle poverty and unlock growth in Philadelphia
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Muni Impact | May 11, 2023
Impact Muni Bond: Ed-tech funding for STEM tools in diverse Santa Clara school district
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Chicago, Illinois
Muni Impact | May 3, 2023
New crop of muni-bond investors helps Chicago fund equitable COVID recovery
This story was originally published by Next City as part of The Bottom Line, a newsletter exploring scalable solutions to advance affordability, inclusive economic growth and access …
Abbott Northwestern Hospital
Muni Impact | May 3, 2023
Impact Muni Bond: Post-covid hospital infrastructure expansion in the Twin Cities
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Photo credit: Divert
Muni Impact | May 1, 2023
Green muni bond in California provides $63 million to waste-to-fuel provider Divert
ImpactAlpha, May 1 – Massachusetts-based Divert culls food waste from US-based food retailers and converts it to natural gas through anaerobic digestion. A …
Arizona State University
Muni Impact | April 27, 2023
Impact Muni Bond: Sustainable academic facilities at Arizona State University
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Creative Economy | April 21, 2023
How cultural impact bonds can finance creative sectors to drive economic growth
The cultural and creative sectors are a key driver of global growth and an essential component of smart cities. Culture impact bonds could …
Lourdes Germán | Photo credit: Public Finance Initiative
Agents of Impact | April 21, 2023
Lourdes Germán, Public Finance Initiative: Tilting the $4 trillion muni market toward racial equity
ImpactAlpha, Apr. 21 – Attorney and academic Lourdes Germán recognized early the power of public finance. She has spent years working at firms including …
Affordable housing in Charlotte, NC
Muni Impact | April 19, 2023
Impact Muni Bond: Affordable home ownership and generational wealth in North Carolina
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Kansas City Streetcar
Muni Impact | April 12, 2023
Impact Muni Bond: Kansas City sustainable light rail to improve downtown mobility
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Muni Impact | April 6, 2023
Mass migration, stranded communities and ‘chronic’ climate disruptions challenge the muni market
ImpactAlpha, April 6 – The municipal bond market has barely begun to grapple with the risks posed by climate change, despite an escalating …
Innovative Finance | March 29, 2023
Using social bonds to address gender and racial inequities (podcast)
Corporate, nonprofit and municipal issuers are designating bond proceeds to support organizations that increase access to finance for women and people of color. …
Impact Careers
Jobs | May 29, 2023
Job Description: Impact investing reporter
Tired of business as usual? Want to make a difference in the world? ImpactAlpha is looking for an ambitious, data-driven reporter to join …
Image by pch.vector on Freepik
Impact Careers | May 26, 2023
The Week’s Impact Jobs: May 26, 2023
ImpactAlpha, May 26 — Impact fund managers and investors are looking for new talent in big cities, including New York, San Francisco, Paris …
Impact Careers | May 19, 2023
The Week’s Impact Jobs: May 19, 2023
ImpactAlpha, May 19 — Impact investors in the US, Asia, Europe, Africa and Latin America are hunting for talent, from impact associates to …
Impact Careers | May 12, 2023
The Week’s Impact Jobs: May 12, 2023
ImpactAlpha, May 12 — One Acre Fund this week announced it will reduce staff in its Kenya operations by nearly half as the …
Impact Careers | May 5, 2023
The Week’s Impact Jobs: May 5, 2023
ImpactAlpha, May 5 — Impact organizations in the U.S., Europe and Asia are hunting for new talent, including analysts, associates and directors. Just …
Impact Careers | April 28, 2023
The Week’s Impact Jobs: April 28, 2023
ImpactAlpha, April 28 — Impact-focused investments banks, impact funds and other impact investors are hunting for talent. Just this week: In New York …
Impact Careers | April 21, 2023
The Week’s Impact Jobs: April 21, 2023
ImpactAlpha, April 21 — Large tech companies including Google, BestBuy, Disney and Facebook are laying off tens of thousands of workers, citing concerns …
Impact Careers | April 14, 2023
The Week’s Impact Jobs: April 14, 2023
ImpactAlpha, April 14 — From asset managers and private equity investors to development banks and foundations, employers at hunting for impact talent on …
Impact Careers | April 7, 2023
The Week’s Impact Jobs: April 7, 2023
ImpactAlpha, April 7 — Foundations, wealth and fund managers, and investment banks in New York are dominating the impact jobs board. Just this week: …
Impact Careers | March 31, 2023
The Week’s Impact Jobs: March 31, 2023
ImpactAlpha, March 31 — Foundations, asset managers, corporations, investment banks and funds are hunting for global talent to fill in new impact jobs. …
Image by rawpixel.com on Freepik
Impact Careers | March 24, 2023
The Week’s Impact Jobs: March 24, 2023
ImpactAlpha, March 24 — Impact investors are looking to add new talent across all continents, from senior associates and investment officers in India and Tanzania …
Impact Careers | March 17, 2023
The Week’s Impact Jobs: March 17, 2023
ImpactAlpha, March 17 — Employers in the fast-growing global impact investing market are hunting for talents. From impact associates and analysts to impact …
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