Rodney Foxworth on reparative investing for shared power in a common future (podcast). Foxworth, CEO of Oakland-based Common Future, gets personal in conversation with host Monique Aiken on The Reconstruction, the new podcast series from ImpactAlpha. Their conversation ranges from the need to confront power, the possibilities for reparative investing, and the role of empathy in a time of division. Reparative investing builds on concepts of restorative economics developed by Kataly Foundation’s Nwamaka Agbo and others. “For me, it always starts with who has the power? How can that power get disrupted?” Foxworth tells Aiken. “And how can more people, particularly those who have been most adversely impacted by these challenges, actually have power and assert that power for themselves?” Building new systems, Foxworth says, requires “a reckoning with how white supremacy and patriarchy… weakened democracy, weakened our political apparatus, weakened investments into infrastructure, weakened our ability to really take on climate issues.”
Sponsored by BlueMark: Impact Due Diligence
Why institutional investors are adding independent verification to their impact due diligence. As asset owners allocate more capital to impact funds, they are looking for reliable ways to identify best-in-class managers. “This is where impact verification comes in,” writes Christina Leijonhufvud of BlueMark, a Tideline company. “A statement from a third-party impact verifier can provide confidence that a fund’s representations of its impact practices are accurate, while also identifying potential areas of impact risk for future monitoring.” Nearly half of the 115 impact investors that have signed the IFC’s Operating Principles for Impact Management have published the required verifier statements. Leijonhufvud expects impact verification to become the de facto best practice for impact fund managers seeking to raise capital, “especially as prudent asset allocators rely on insights from impact verifications to reduce impact risks and enhance impact results.”
Dealflow: Follow the Money
SunFunder reaches $70 million close for Solar Energy Transformation fund. The off-grid solar finance company’s blended-finance fund backs solar companies improving energy access across Africa and Asia. It closed the fund with investments from OeEB, the development bank of Austria, Swedfund, Bank of America, Mercy Investment Services, the Schmidt Family Foundation and members from the Toniic impact investor network.
Signals: Ahead of the Curve
Celebrating women, internationally. The caregiving and economic burdens of the COVID pandemic have fallen heavily on women, who have lost jobs at nearly double the rate of men. Women have stepped up, organizing and mobilizing for political change, combating climate change, and investing in one another. Today, and every day, we salute the leadership and power of international women. Here are a few of the International Women’s Day activities we’re tuning into:
Agents of Impact: Follow the Talent
BlocPower’s Donnel Baird and Future Earth’s Stephanie Shepherd join the board of directors in Al Gore’s Climate Reality Project… Andy Moniz, ex- of Putnam Investments, joins Acadian Asset Management as director of responsible investing… Emerson Collective is recruiting a portfolio support analyst in Palo Alto, Calif… Cartica Management is recruiting an ESG engagement manager in the Washington-Baltimore area.
“It’s a great time for new entrants, but for those of us who’ve been doing this for a while it is equally urgent to raise our game right and to not get complacent,” said Margot Brandenburg of the Ford Foundation.