September 2021 | Field News & Resources
This page features this month's highlights, announcements, resources, and general news related to advancements in the impact investing field.
- Arabella Advisors, in partnership with the JPMorgan Chase Foundation and the New Venture Fund, revisited their 2019 report, "An Economy for All: How Philanthropy Can Unlock Capital for Women Entrepreneurs and Entrepreneurs of Color through Inclusive Investing", which mentions MIE's Racial Equity Resource Library and shares recommendations on how, following 2020, philanthropy can help accelerate the progress on inclusive investing.
- With support from Tipping Point Fund on Impact Investing (TPF), Pacific Community Ventures released a new policy brief that encourages investments in quality job creation, as well as interventions within federal and state policies to improve impact investing and community development practices and foster an enabling environment for private capital to be channeled towards public purpose.
- Meyer Memorial Trust grew its endowment to more than $1 billion as it deepens commitment to equitable investing strategy amid the unique challenges of the ongoing Covid-19 pandemic.
- Tideline released the first edition of its guide to impact labeling, designed as a practical resource for investors exploring how they should define their approach to sustainable investing and focused on "What", "Who", "Why", and "How" of using the impact investment label.
- In celebration of its 10th anniversary, Social Finance released an interactive “Decade of Impact” report , which features various MIE members and outlines the organization's work in economic mobility, children and family, and homelessness.
- A new report by Upstart Co-Lab looks at investing opportunities in the Creative Economy and suggests ways impact investing can be used to make it more inclusive, equitable, and sustainable.
- MacArthur Foundation’s President, John Palfrey shared the Foundation’s path to divest from fossil fuels and diversify its assets, noting that “investing in climate friendly solutions is as important as divesting from approaches that are harming the environment.”
- The Nathan Cummings Foundation (NCF) announced its selection of Bivium-WestFuller as its new Outsourced Chief Investment Officer (OCIO). Bivium-WestFuller is a partnership between Bivium Capital and WestFuller Advisors, which are Black owned and BIPOC led. Together, the organizations aim to foster an inclusive investing process that improves accountability and reflects the foundation's theories of change.
- Loop Capital, a Black-led investment bank, brokerage, and advisory firm, and Goldman Sachs announced a partnership to offer cash management solutions to help companies advance racial equity by creating economic opportunity within diverse communities and providing funding for educational and career development for Black women in STEM and related fields.
- An opinion piece by the founder of the Universal Commons Project, Alan Schwartz, and the organization's chief economist, Reuben Finighan, in the Stanford Social Innovation Review, outlines a strategy to pair advocacy with impact investing and notes that this is the only way for businesses and investors to truly produce a “win” for both themselves and society to create a more sustainable future.
- The Denver Foundation and Capitol Hill United Neighborhoods (CHUN) have partnered to establish endowments totaling $1 million that will support the long-term financial sustainability of Denver’s oldest and largest neighborhood advocacy organization.
- A CNBC article discusses how many large corporations and organizations are increasingly looking for ways to invest in forest restoration projects, noting that two years ago, the nonprofit Blue Forest Conservation organization launched the first ever Forest Resilience Bond at $4 million and now, working with the World Resources Institute, the organization will launch its second Forest Resilience Bond, aimed at 48,000 acres of forest restoration.
- As part of its long commitment to racial equity and social justice, the Cleveland Foundation launched its new strategic direction to leverage its full portfolio to advocate for progress in diversity among investment managers and corporate boards.
- TechSoup announced that the organization achieved its goal of raising $11.5 million through its Direct Public Offering (DPO), and notes that the offering's goal is to increase impact investing opportunities for people of all economic backgrounds.
- In an MPR News interview with host Angela Davis, the president of the McKnight Foundation Tonya Allen discusses the role of philanthropy in turbulent times.
- Northwest Area Foundation’s President and CEO Kevin Walker highlights the foundation's unique commitment to being a resource for Native people doing self-determined work to help their communities thrive with at least 40 percent of their new grants and program-related investments each year going to Native-led organizations.
- As part of its “Our Call to Reimagine Capitalism” series and in conjunction with the Labor Day Holiday, Omidyar Network discusses the essential contribution of working people to the U.S. and notes that if we want our democracy to survive, we need a new form of capitalism that promotes and protects balanced power.