How the Green New Deal Gives Foundations New Investment Choices
The Green New Deal was introduced earlier this year as policy to counter climate change and income inequality together. Since then a variety of grassroots, community-defined endeavors have emerged around the country that connect clean energy with quality jobs. This Fast Company report shows how the Green New Deal is providing a locally-informed framework for foundations and philanthropists to follow as they look to fund initiatives that support environmental sustainability and economic equity. These initiatives are becoming proving grounds for grantors and impact investors.
The article advises the philanthropic sector to listen to what grassroots organizations need, rather than dictate strict terms of investment. Instead, those interviewed encourage funders to design new mechanisms to facilitate funding, from grants to impact investments and other catalytic capital.
The article cites work by MIE members and partners including The Just Transition Fund, which is funded by the Rockefeller Family Foundation and MacArthur Foundation, to provide financial and technical support to transition the Appalachian economy to one driven by clean energy jobs. Other members in the article are the Ford Foundation and Rockefeller Philanthropy Advisors.