Place-based foundations — philanthropies that target specific geographies — are among the longest-standing impact investors around. Local foundations from Maryland to Minnesota to Oregon are also now some of impact investing’s most enthusiastic adopters, complementing grant-making strategies with equity and debt investments to build prosperous communities. Virginia Community Capital, a community development financial institution, and the Center for Rural
We told you ImpactAlpha is down for the 2030 global goals. Now comes a new report that suggests increased public and private investment in sectors aligned with the Sustainable Development Goals, specifically in infrastructure and in the poorest countries, is a key to economic growth. “Such investment will stimulate global growth, leading to a virtuous cycle,”
Expect to hear more about the Women’s Entrepreneurship Facility before the G-20 meeting in July, where World Bank President Jim Yong Kim wants to announce a $1 billion raise. Ivanka Trump initiated discussions with Kim about the fund, which also has the support of Germany’s Angela Merkel. That Saudi Arabia is contributing to the fund’s first
Benefit Chicago has made its first six investments in the Chicago area, totaling $12 million. The planned $100 million fund has raised $77 million so far, including $50 million from the MacArthur Foundation, $15 million from the Chicago Community Trust and an additional $12 million via the Calvert Foundation, which offers its Community Investment notes to
The bank, one of the largest financial institution in the US, is ending project finance for new fossil fuels pipelines and coal facilities. It appears to be the first US bank to do so. The move was announced at the bank’s annual shareholders meeting and goes beyond last year’s environmental policy to “reduce” fossil fuels lending.
The first initiative from the new backers of SOCAP is a one-day event in New York on June 19. The Good Capital Project has the ambition of “bringing the best minds together to set daring goals for the future of impact investing.” The two-year initiative will include efforts that roll up into the fall SOCAP
A new tool from Morgan Stanley and the Economist’s Intelligence Unit ranks tech-driven opportunities in 20 countries across finance, education, healthcare and gender equity. Among the takeaways: income inequality in the U.S. is more akin to China, Argentina and Turkey than to the U.K., the Netherlands or Australia. Technology can leapfrog stages of development in least-developed