The antitrust theories are weak, but the effects can be chilling on corporate collaboration for climate action. The Glasgow Financial Alliance for Net Zero, or GFANZ, launched with fanfare at COP26 by Brookfield Asset Management’s Mark Carney and Bloomberg’s Michael Bloomberg, aimed to align banks, asset managers and financial institutions with a combined $130 trillion in assets under management with the goal of keeping global warming below 1.5 degrees Celsius. Two years later, as COP28 gets underway in Dubai, many of those financial institutions have dropped out, gone quiet and otherwise gotten cold feet. Behind the chill: a coordinated attack by Republican politicians in the US on efforts to fight climate change. In recent letters and subpoenas, the Republican-led House Judiciary Committee charged that financial industry alliances like GFANZ “appear to facilitate collusion that may violate U.S. antitrust law,” and represent “ESG cartels” (see, “With subpoenas, Rep. Jim Jordan seeks to chill shareholder action on climate”). The antitrust claims have little legal basis and “should be evaluated in the context of the deep anti-climate interests of the campaign’s funders,” argue Cynthia Hanawalt of the Sabin Center for Climate Change Law and Denise Hearn of the Columbia Center on Sustainable Investment. Their guest post on ImpactAlpha breaks down the legal issues.
Investors earn a return on a ‘forest resilience bond’ in California. Nonprofit Blue Forest partnered with World Resources Institute, the US Forest Service, and the National Forest Foundation five years ago to pilot a financing mechanism for proven techniques to protect forests from devastating wildfires and other climate risks. The “forest resilience bond” raised $4 million from investors to restore and protect 15,000 acres in the Yuba watershed in the Tahoe National Forest. Blue Forest says the intervention, completed more than five years ahead of schedule, provided an “adequate” return to investors “in line with expectations.” Investors were repaid by the Yuba Water Agency, the US Forest Service, and California’s Climate Investment Program. The project “exemplifies how investments in nature can successfully accelerate solutions, benefit public lands and return capital,” Blue Forest said in a statement.
Funds of funds provide more than capital for local investors in small and growing businesses. Impact funds that invest in other aligned funds are common in private equity and microfinance. Funds of funds are now emerging in the global small business finance sector as a means of mobilizing the roughly $5 trillion a year needed by small and growing businesses, writes Susan de Witt of the Collaborative for Frontier Finance, which hosted annual gathering of small business-focused fund managers and investors last week in Cape Town. Funds of funds like the Dutch Good Growth Fund, Mastercard Foundation’s Africa Growth Fund and Kuramo Capital are proving to be a critical early supply of capital for fund managers in Africa and the Middle East, according to a new survey from CFF. “All employ a range of strategies to evaluate local fund managers’ risk,” such as creative risk assessments, anchor capital and back-office services, de Witt says. Such support, she adds, is “helping fund managers transition from raising from angel and high-net worth investors, family offices and foundations to institutional investors.”
Cornelius Lee, ex- of Promise54, joins Equitable Facilities Fund as vice president of talent… Overdeck Family Foundation appoints Katelyn Fletcher, ex- of the Brookings Institution, as portfolio associate… Impact Capital Managers seeks a talent and diversity director in New York… Also in New York, Blue Meridian Partners seeks two directors… Pollination has an opening for a nature and agriculture executive director in Washington, DC.
ImpactAlpha, November 17 – That women are more adversely affected by climate change is well established (in impact and development circles at any …
This week’s Agents of Impact Call continued a tradition started nearly a decade ago by Fran Seegull of the US Impact Investing Alliance …
ImpactAlpha, Sept. 29 – It’s the age-old struggle: labor vs capital, workers vs. owners. But what happens when employees get a stake in the …
ImpactAlpha, August 25 – A growing ecosystem of Native-led entrepreneurs, lenders, financial intermediaries and nonprofits are driving Indian Country’s emerging economy. “It’s kind …
ImpactAlpha, July 28 – Most historically Black colleges and universities were formed during the Reconstruction era. In the more than a century since, Spelman, …
ImpactAlpha, Jun. 22 – Even as some politicians ramp up anti-ESG rhetoric, asset owners and allocators are signaling an appetite for investment strategies …
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 …
ImpactAlpha. Feb. 24 – “A labor market where workers have more opportunities and have more power and have more leverage is a good …
ImpactAlpha, Feb. 9 – The fatal beating by police of Tyre Nichols in Memphis last month exposed risks to the city’s finances that have …
ImpactAlpha, Nov. 18 – Cities around the U.S. are raising low-cost capital in the municipal bond markets by highlighting intentional efforts to address long-standing …
ImpactAlpha, September 30 – Capital to support women’s economic growth and financial inclusion is flowing – finally! – in many advanced economies. In emerging …
ImpactAlpha, Sept. 19 – Investors, entrepreneurs, corporate executives and world leaders have descended on New York for Climate Week, the annual gathering alongside the …
ImpactAlpha’s Amy Cortese speaks with Full Cycle’s Stephan Nicoleau at the start of COP 28 to hear what he’s expecting – and hoping …
Pension funds, with hundreds of billions in long-term assets, can be a key source of capital for impact investors and entrepreneurs. Black, Indigenous, …
The Wilmington coup of 1898 is not as well known as the Tulsa massacre of 1921. But the events of that day changed …
ImpactAlpha’s Dennis Price catches up with María Hollan, a second-generation steward of her family’s assets at Timke Ventures in Mexico City. Hollan was …
David Bank catches up with Courageous Capital Advisors’ Laurie Spengler to talk about what the mainstreaming of impact investing means for smaller impact …
Graham Singh shares the financing mechanisms that Trinity Centres Foundation is developing for repurposing churches. And, David Bank shares ImpactAlpha’s big news. Plus, …
Unicef USA’s Cristina Shapiro joins David Bank to introduce child-lens investing, a framework for considering investment harms and benefits to children, who have …
Roraj Pradhananga and Jane Swan of Veris Wealth Partners join host Monique Aiken to discuss how the wealth manager is rethinking due diligence …
Host Brian Walsh shares highlights from this week’s agents of impact call, “The employee-ownership edge,” which explored the range of opportunities for investing …
David Bank is joined by Marjorie Kelly of The Democracy Collaborative to explore the ways that impact investors both help and hinder systemic …
🎧 Impact Briefing. Host Brian Walsh chats with Amy Cortese to set the stage for the UN General Assembly and Climate Week NYC. …
David Bank catches up with Robert Munson, President of SOCAP and Managing director at the Sorenson Impact Center, who is putting together next …
An expanding range of financing mechanisms and vehicles are emerging to help private capital providers direct money and resources to their small business …
As the private sector has become increasingly engaged in the effort to combat climate change, debates have emerged about the impact and legality …
The private equity industry, known for its focus on efficiency improvements and earnings growth, has expanded dramatically in the past decade, tripling assets …
There is an urgent race to curb rising temperatures and prevent the worst effects of climate change. This is reflected in a growing …
The impact-first philosophy that Ceniarth has championed has had its fair share of challenges. But we remain convinced that it is critical to …
Private equity has a significant opportunity to create financial and societal value through sustainability. PE firms that invest in improving the management and …
Climate tech investment is booming. Since 2013, there have been more than 6,000 investors (private, public and philanthropic) in climate tech startups, and …
When UK Prime Minister Rishi Sunak watered down the UK’s commitment to its Net Zero targets earlier this fall, he at least started …
Pump it up until you can feel it. Pump it up when you don’t really need it. – “Pump it Up,” Elvis Costello …
In the US, venture backed investments are failing at rates not seen since the Great Recession. The market forces slamming these companies are …
California just enacted a set of bills that together represent a huge leap forward in tackling the climate crisis. Under SB 253, about …
Five early-stage startups in Tunisia beat the odds of fundraising in a declining venture market last year, collectively raising $10.3 million with the …
Sustainable development? “More of the same.” Forest carbon credits? “Outside-imposed extraction.” Impact investing? “Are we really going far enough? Or are we just …
ImpactAlpha, September 8 — In 15 years in impact investing, Christopher Bentley noticed “a lot of for-profit companies focused on the criminal justice …
ImpactAlpha, August 18 – Monica Brand Engel’s advice to impact investors is this: Imperfect execution is ok. “Authentic impact is about accepting imperfection …
ImpactAlpha, Aug. 11 – Samuel Yeboah isn’t discouraged by the economic storm battering his home country of Ghana and many other emerging economies. “As …
Many investors look at promising new climate solutions and say, ‘Great, come back to me when you have traction.’ Azolla Ventures is more …
ImpactAlpha, June 30 – The first thing that Katherine Stodulka does when you meet her is suggest you meet someone else. Then she’ll …
ImpactAlpha, May 26 – A decade ago, investors pushed back against the loan products Jessica Espinoza was designing for female business owners as …
ImpactAlpha, May 12 – Nigeria-born climate entrepreneur and “professional nomad” Aina Abiodun is bullish on place-based climate innovation. “There is nothing more urgent than …
ImpactAlpha, May 5 – John Moore quit his corporate gig and moved to Philadelphia two decades ago. He found a city rich in …
ImpactAlpha, April 28 — A first generation Nigerian-American, Su Sanni grew up in East New York, Brooklyn and Jamaica, Queens. The low-income neighborhoods, …
ImpactAlpha, Apr. 21 – Attorney and academic Lourdes Germán recognized early the power of public finance. She has spent years working at firms including …
ImpactAlpha, Apr. 14 – “Net zero is not going to get us anywhere,” Ariane Mahler of Veridien Global Investors tells ImpactAlpha’s David Bank. “You …
The company, which helps women entrepreneurs in rural villages access loans, will receive $20,000, networking, capacity building and mentorship opportunities.
Runners up in the contest at the third annual Sankalp Southeast Asia Summit included EnerGaia, a Thai startup that harvests spirulina growers in underutilized urban areas and MyCash, a Malaysian enterprise that delivers simple online banking and payment systems for migrant workers.
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{{beat.name}}This year’s Ben Affleck and Matt Damon movie, Air, is a classic story of American enterprise. It features people and organizations once on …
ImpactAlpha, October 16 — Giving workers ownership stakes in the companies they work for improves employees’ motivation, productivity, retention and drives long-term business …
ImpactAlpha, October 2 — Equitable homeownership is a key strategy for narrowing racial wealth gaps. Centering Black women is key to the success …
Host Brian Walsh shares highlights from this week’s agents of impact call, “The employee-ownership edge,” which explored the range of opportunities for investing …
ImpactAlpha, Sept. 29 – It’s the age-old struggle: labor vs capital, workers vs. owners. But what happens when employees get a stake in the …
ImpactAlpha, September 28 — Vernier Science Education, a textbook, software and lab equipment provider for K-12 science and technology education, is converting ownership …
ImpactAlpha, September 28 — Black ownership was the theme that echoed through the Walter E. Washington Convention Center at last week’s annual legislative …
ImpactAlpha, Sept. 25 – It’s the age-old struggle: labor and capital typically are at odds in the workplace and the financial markets. Case in …
ImpactAlpha, September 14 — Women leaders of color are stepping up ecosystem-building efforts to counter the recent legal attacks against minority-owned and led …
This essay is adapted from Marjorie Kelly’s forthcoming book, “Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today’s …
ImpactAlpha, August 23 — Over the decades, discriminatory practices in the US real estate industry have blocked many households of color from the …
ImpactAlpha, August 22 — Brooklyn, NY-based Teamshares has raised $245 million to build a national portfolio of 10,000 employee-owned small businesses. The opportunity: …
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 …
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 or on …
ImpactAlpha, Oct. 18 – A new approach to a well-worn financing mechanism is attracting attention to Chicago. The city is employing a new …
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 or on …
ImpactAlpha, Oct. 11 – A community’s racial makeup, irrespective of economic variables, affects its cost of capital in the $4 trillion US municipal bond …
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 or on …
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 or on …
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 or on …
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 or on …
ImpactAlpha, Aug. 21 – The amounts are small, but the implications could be profound. When micro lender Pro Mujer earlier this year distributed …
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 …
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 …
ImpactAlpha, December 1 — Investment funds, foundations, banks and other firms are looking to fill up on impact talent by year’s end. Just …
ImpactAlpha, November 17 — Foundations, fund managers and other investors are hunting for impact talent before the year comes to a close. Just this …
ImpactAlpha, November 10 — Banks, fund managers and other investors are hunting for impact talent before the year comes to a close. Just this …
ImpactAlpha, November 3 — Fund management firms, banks and other investors, particularly on the US east coast, are on the hunt for impact talent. …
Foundations, pension funds and fund management firms are among the organizations on the hunt for impact talent this fall. Just this week: US East …
ImpactAlpha, October 20 — Foundations, banks and fund management firms are among the organizations on the hunt for impact talent this fall. Just this …
ImpactAlpha, October 13 — Impact investors are seeking new talent in the US and globally. Just this week: In the US In Washington, …
ImpactAlpha, October 6 — Foundations, banks and fund management firms are among the organizations on the hunt for impact talent this fall. Just …
ImpactAlpha, September 29 — The majority of openings on this week’s impact jobs board are in big cities such as San Francisco, New York …
ImpactAlpha, September 22 — Impact talent is in demand. Fund managers, foundations and other impact investors are hiring in US and global cities. …
ImpactAlpha, September 15 — Impact investors in the US, Europe and the rest of the world are looking to fill newly-vacant positions ahead …
ImpactAlpha, September 1 — In the US, Europe and other international locations, impact investors are searching for talent to help maximize their impact. …