This Week in Impact
By Impact Alpha
This Week in ImpactAug 05, 2022
David's dispatch from MIE and Milken, and a call for sustainable mining
This Week in Impact. Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: David dives into the divergent differing vibes at Mission Investors Exchange and the Milken Institute Global Conference. Plus a call for efforts to sustainably harvest the metals needed for the energy transition.
Tonya Allen Q+A: https://impactalpha.com/mcknights-tonya-allen-philanthropy-has-right-and-responsibility-to-counter-dei-attacks/
Laura Callanan: https://impactalpha.com/capital-the-creative-economy-and-a-quarter-century-of-lessons-learned-in-impact-investing/
Sustainable Mining: https://impactalpha.com/esg-will-be-key-to-supplying-green-metals-needed-for-the-energy-transition/
Sign up for ImpactAlpha LatAm: https://impactalpha.com/latam-newsletter-email/
Subscribe to ImpactAlpha: https://impactalpha.com/subscribe/
This episode featured music by Isaac Silk and by Yurii Semchyshyn.
The state of blended finance, restoring forests and carbon market credibility, and investing endowments for DEI
Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week:
The state of blended finance: https://impactalpha.com/blended-finance-rebounds-in-2023-with-focus-on-climate-and-bigger-deals/
How Big Tech can restore both forests – and credibility - in voluntary carbon markets: https://impactalpha.com/how-big-tech-can-restore-forests-and-credibility-in-voluntary-carbon-markets/
Why The California Wellness Foundation is putting a diversity, equity and inclusion lens on 100% of its $1 billion endowment: https://impactalpha.com/investment-manager-diversity-matters-when-investing-for-health-equity/
Sign up for ImpactAlpha LatAm: https://impactalpha.com/latam-newsletter-email/
Subscribe to ImpactAlpha: https://impactalpha.com/subscribe/
Family offices target climate transition, foundations invest in AI for good, and a voluntary carbon credit brou-ha-ha
Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week:
Family offices have the opportunity to invest in the climate transition:
Three leading foundations make for-profit investments in an OpenAI competitor:
The brou-ha-ha over whether voluntary carbon credits should count towards a company’s climate targets:
Take advantage of ImpactAlpha's 10 year anniverary sale: https://impactalpha.com/subscribe/
Sign up for ImpactAlpha LatAm: https://impactalpha.com/latam-newsletter-email/
Good economic news, the legacy of Participant Media, and a dispatch from the World Bank
Brian Walsh and ImpactAlpha editor David Bank take up the good news on the good economy, Participant Media’s lasting legacy and the signs of change at the World Bank. Plus: an exclusive early listen to the electrifying single, “I’m Your Heat Pump.”
To learn more about heat pumps and home electrification, visit The Switch is On and Rewiring America websites. Sign up for The Switch is On monthly newsletter and receive an email featuring the “(I’m Your) Heat Pump” music video.
Rob's column:
Participant Media
World Bank:
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Reconnecting communities, impact investing in Puerto Rico, and how business owners are exiting to employees
Brian and David explore the federal funds that are catalyzing capital to reconnect communities from the legacy of racial segregation, the huge impact investing opportunity in Puerto Rico, and the mechanisms that investors and business owners are using to exit to employees.
Links to this week's stories:
- Reconnecting communities - https://impactalpha.com/with-bridges-buses-and-bike-lanes-reconnecting-communities-rebuilds-civic-muscles-along-with-neighborhoods/
- Impact in PR - https://impactalpha.com/the-impact-investing-opportunity-in-puerto-ricos-economic-comeback/
- Employee ownership exits - https://impactalpha.com/with-elbos-and-eots-more-business-owners-are-exiting-to-employee-ownership/
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This episode featured music by Isaac Silk and by Yurii Semchyshyn.
EPA (finally) announces who will distribute $20 billion fund, lessons from blended finance, and universal owners vote their proxy
Brian and David continue to unpack the EPA’s blockbuster $20 billion in government grants to mobilize commercial investment in climate solutions, learn lessons from dozens of blended finance transactions, and discuss how shareholders are voting to have companies mitigate economy-wide risks.
Links to this week's stories:
- https://impactalpha.com/investors-ready-products-to-amplify-us-green-bank-funding/
- https://impactalpha.com/blending-billions-lessons-from-more-than-three-dozen-big-blended-finance-transactions/
- https://impactalpha.com/with-systems-first-proposals-shareholders-seek-to-mitigate-economy-wide-risks/
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National green bank funding, basket bonds, and Brazil's burgeoning impact ecosystem
Brian Walsh and David Bank discuss the players likely to receive massive funding from the EPA to create a national green bank, how people are investing in Brazil’s impact economy, and how a $75 million ‘basket bond’ is catalyzing climate lending to small businesses in emerging markets.
Read more:
- Green bank: https://impactalpha.com/epas-new-partners-plot-a-27-billion-path-to-a-us-green-bank/
- Basket bonds: https://impactalpha.com/how-a-75-million-basket-bond-is-catalyzing-climate-lending-to-small-businesses-in-emerging-markets/
- Brazilian impact ecosystem: https://impactalpha.com/the-path-to-growth-in-brazil-runs-through-the-impact-economy-videos
Sign up for ImpactAlpha LatAm: https://impactalpha.com/latam-newsletter-email/
How Texas’s anti ESG campaign is costing it money, cookstoves and carbon markets, and Vanguard gets punked
David Bank joins Brian Walsh to discuss some of the top stories from ImpactAlpha this week.
Stories mentioned on the podcast:
- Texas boots Blackrock:
- Clean cooking: https://impactalpha.com/leveraging-the-carbon-markets-for-clean-cooking-climate-justice-and-social-impact/
- Vanguard gets punked: https://impactalpha.com/elaborate-spoof-takes-aim-at-vanguards-retreat-from-climate-commitments/
- Agents of Impact Call 60: https://impactalpha.com/calls/
Finding hidden impact and overlooked risks in municipal bonds
Featuring Activest's Homero Radway, HIP Investor’s Paul Herman, Kestrel’s Monica Reid, Matt Posner of Court Street Group and Lincoln Institute’s RJ McGrail.
Check out the call recap: https://impactalpha.com/the-arbitrage-opportunity-in-high-impact-municipal-bonds-video/
Or watch the replay: https://www.youtube.com/watch?v=HQPh3XC9X1g
Imogen's latest Institutional Shift column: https://impactalpha.com/dont-take-jeffrey-ubbens-shutdown-of-inclusive-capital-for-more-than-hes-worth/
A tale of two COPs with Marilyn Waite and Dawn Lippert
Amy Cortese speaks with both Marilyn Waite of the Climate Finance Fund and Dawn Lippert of Elemental Excelerator about their experiences this week in the green and blue zones of COP28. Plus, Monique Aiken has the headlines.
All eyes on Dubai as COP 28 begins with Stephan Nicoleau
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 for - at the global climate summit in Dubai. Plus, host Brian Walsh has the headlines.
Steering pension funds toward impact with Tara Mei Smith and Marcela Pinilla
Friends of ImpactAlpha Eric Horvath and Lucas Turner-Owens share an excerpt from their new podcast Impact(ed). They speak with Tara Mei Smith (Office of NYC Comptroller) and Marcela Pinilla (Zevin Asset Management) about creating change from the inside at pension funds, and their journey as women of color investment professionals. Plus, host Monique Aiken has the headlines.
Lessons from the Wilmington coup of 1898 with Cedric Harrison
November 10th is the 125th anniversary of the only successful coup d’etat in U.S. history, which took place in Wilmington, North Carolina in 1898. White supremacists targeted Wilmington for it's multiracial democracy and prosperity.
]ImpactAlpha’s David Bank went to Wilmington and we’ll hear his conversation with Cedric Harrison, an entrepreneur building a business around recovering the history of that dark day.
David Zucchino's pulitzer prize winning account of the coup: https://bookshop.org/p/books/wilmington-s-lie-winner-of-the-2021-pulitzer-prize-the-murderous-coup-of-1898-and-the-rise-of-white-supremacy-david-zucchino/12471037?ean=9780802148650
Maria Hollan of Timke Ventures shares her journey to impact investing
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 in Medellín at the GLI Forum Latam looking for opportunities to invest across asset classes with a gender lens. Plus, Monique Aiken has the headlines.
Join Camilla Nestor of MCE Social Capital, Shally Shankar of AiiM Partners, Noramay Cadena of Supply Change Capital, and Samantha Anderson and Rose Maizner from Heading for Change, Wednesday, Nov. 15 at 10am PT / 1pm ET / 6pm London. RSVP today
What the mainstreaming of impact investing means for smaller impact fund managers
David Bank catches up with Courageous Capital Advisors’ Laurie Spengler to talk about what the mainstreaming of impact investing means for smaller impact fund managers closer to the problems and community-based solutions. Plus, host Brian Walsh has the headlines.
Repurposing churches with Graham Singh, and a big ImpactAlpha announcement
David chats with Graham Singh of the Trinity Centres Foundation, and chats with Monique about ImpactAlpha's recent fundraise.
https://www.youtube.com/channel/UCHd3U3IOar-4cPkJqx9eZYw
There's a new impact lens in town
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 ‘til now been left out of investment decision-making. Plus, host Brian Walsh has the headlines.
How Veris is rethinking due diligence to advance gender and racial justice
Roraj Pradhananga and Jane Swan of Veris Wealth Partners join host Monique Aiken to discuss how the wealth manager is investing in diversity, equity, inclusion and belonging. Plus, the headlines.
Read the report: https://www.veriswp.com/deib-investing-report/
Finding the 'worker-ownership edge'
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 in the conversion of companies to worker ownership. Plus, the headlines.
RSVP for next week's LinkedIn Live with Sherrell Dorsey: https://www.linkedin.com/events/7112932484064968705/comments/
The call replay: https://youtu.be/Kii-53LJR8U?si=xyuQNO5-vdb0r0XD&t=4
Check out all of these stories and more on https://impactalpha.com/
What is 'wealth supremacy,' how does it drive crises, and what can be done about it?
David Bank is joined by Marjorie Kelly of The Democracy Collaborative to explore the ways that impact investors both help and hinder systemic change. Her new book, “Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today’s Crises,” is out this month. Plus, host Monique Aiken has the headlines.
Read part one of Marjorie’s essay, “How wealth supremacy is driving today's crises,” on ImpactAlpha.
Check out the book here: https://bookshop.org/p/books/wealth-supremacy-how-the-extractive-economy-and-the-biased-rules-of-capitalism-drive-today-s-crises-marjorie-kelly/19486250
Looking ahead to Climate Week NYC
Host Brian Walsh chats with Amy Cortese to set the stage for the UN General Assembly and Climate Week NYC. Plus, the headlines.
- Amy sketched the landscape in “Protesters and investors to pressure global leaders at Climate Week NYC.” Here are the details of Sunday’s march, Climate Group’s event guide and Climate Tech VC’s cheat sheet to hundreds of side events.
Revamped SOCAP seeks radical ideas and scaled solutions
David Bank catches up with Robert Munson, President of SOCAP and Managing director at the Sorenson Impact Center, who is putting together next month’s gathering in San Francisco. Plus, host Brian Walsh has the headlines.
Get your tickets today: Oct. 23-25: SOCAP23 (San Francisco) (save $250 with code “s23_impactalpha”)
Find all of the stories from this week's episode on impactalpha.com
Democratizing gender lens investing in Latin America
Pro Mujer’s Carmen Correa joins host Monique Aiken to share how the pioneering Latin American microfinance institution’s bonds are democratizing gender lens investing in Argentina. Plus, the headlines.
“With gender bonds, Pro Mujer puts Argentina’s capital markets to work for female entrepreneurs”
Check out ImpactAlpha's new Career Hub!
Catalyzing capital to Indigenous communities
Host Brian Walsh shares some of the insights from this week's Agents of Impact Call, which focused on how resourceful entrepreneurs are tapping community lenders, private investors, philanthropic funds and public dollars to launch Native-led businesses, create jobs and provide vital services.
For the full replay and roundup of the call head over to https://impactalpha.com/calls/. The rest of these stories are also featured on the site.
Responding to legal attacks on racial justice strategies
Paris Prince of the Intentional Endowments Network joins host Monique Aiken to talk about how impact investors are responding to legal attacks on affirmative action and racial wealth-building strategies.
Sign the Fearless Fund petition: https://share.communityx.com/posts/3297045f-af18-4411-9fa2-82afddc6685a/
For more on all of these stories, head on over to www.impactalpha.com
Cash flows to ensure the water flows in Latin America
David Bank speaks with Hugo Contreras, who helped lead The Nature Conservancy’s efforts in Latin America to value, conserve and enhance our most irreplaceable resource, in the next conversation in our series from the Salzburg Global Seminar, sponsored by the Robert Wood Johnson Foundation. Host Monique Aiken has the headlines.
Insuring farmers against crop failures and climate change
David Bank chats with Acre Africa’s Niza Banda in the next conversation from the recent “Connecting capital to communities” gathering at the Salzburg Global Seminar, sponsored by the Robert Wood Johnson Foundation. Host Brian Walsh has the headlines.
For the full story: https://impactalpha.com/acre-africa-insuring-farmers-against-crop-failures-and-climate-change/
Subscribe today: https://impactalpha.com/subscribe/
Putting Africa’s pension funds to work for Africa’s social infrastructure
David Bank chats with Musa Mabesa, head of South Africa’s Government Employees Pension Fund, in the latest conversation from the “Connecting capital to communities” gathering at the Salzburg Global Seminar, sponsored by the Robert Wood Johnson Foundation. Host Monique Aiken has the headlines.
Affordable housing for Mozambique’s informal economy
David Bank chats with Empowa’s Glen Jordan in the next conversation from the recent “Connecting Capital to Communities” gathering at the Salzburg Global Seminar, sponsored by the Robert Wood Johnson Foundation. Host Brian Walsh has the headlines.
“When there's no formality, there's no identification. Income is informal. The mortgage product just doesn't work,” says Glen Jordan of Empowa, a Netherlands-based social enterprise. “So we have to turn it around and create products that meet the needs of the informal market. And create structures that enable the capital to flow to those structures in a way that's cost-effective.”
Connecting Indian farmers to global markets
David Bank chats with FarMart’s Samridhi Singh in the next conversation in our series from the recent Salzburg Global Seminar on “Connecting Capital to Communities,” sponsored by the Robert Wood Johnson Foundation. Host Monique Aiken has the headlines.
A century old model for affordable social housing with Michaela Kauer
David Bank catches up with Michaela Kauer of the city of Vienna to talk about that city’s model of social, affordable housing. Plus, host Brian Walsh has the headlines.
Moving capital at scale to elevate communities of color with Valerie Red-Horse Mohl
Host Monique Aiken has the headlines and Known Holding’s Valerie Red-Horse Mohl joins David Bank to talk about moving capital at scale to elevate communities of color.
The ownership beat, ESG on the chopping block, and new tools for system-level investing
David Bank joins host Monique Aiken to talk about the ownership economy, ESG backlash and system-level investing. Plus the headlines.
Why employee ownership is the next big thing in impact, and America, with Jack Moriarty
Jack Moriarty of Ownership America chats with ImpactAlpha’s David Bank about employee ownership and new legislation to help investors back companies that are turning workers into owners. Host Brian Walsh has the headlines.
Funding African tech entrepreneurs with Eunice Ajim
Eunice Ajim, founding partner Ajim Capital speaks with David Bank about her personal journey to launch the fund and her mission to support tech entrepreneurs in her native Cameroon and across Africa. Host Monique Aiken has the headlines.
For more on Ajim Capital: https://www.ajimcapital.com/blog/ajim-capital-launches-10m-fund-for-african-companies-in-the-tech-space
For more VC Include podcasts: https://impactalpha.com/podcasts/
The long and winding road to responsible private equity with Tensie Whelan
Host Brian Walsh is joined by NYU’s Tensie Whelan to hear why more and more private equity firms are starting to embrace impact as a path to outperformance.
Tensie's article in ImpactAlpha: https://impactalpha.com/more-private-equity-firms-embrace-impact-as-a-path-to-outperformance/
Finding alpha in racial justice and the challenges women face raising a first fund
The BFM (Black Founders Matter) Fund’s Himalaya Rao speaks with David Bank about the alpha case for racial justice investing and the challenges faced by a woman manager when raising her first fund.
Our earlier VC Include interviews:
https://impactalpha.com/toussaint-bailey-uplifting-capital-bringing-the-quietly-bothered-into-impact-investing-podcast/
https://impactalpha.com/bahiyah-yasmeen-robinson-on-includes-three-drivers-of-inclusion-alpha-podcast/
Neighborhood Economics with Kevin Jones
As the Neighborhood Economics conference wraps up in Jackson, Miss., Kevin Jones speaks with David Bank about startup capital for sole proprietors, Black churches as engines of economic development and how unusual strangers can become unlikely allies. Plus, host Brian Walsh has the headlines.
U.S. Financial regulations and over 40 years of Earth Days with Dianne Dillon-Ridgley
For Earth Day, Dianne Dillon-Ridgley joins host Monique Aiken to reflect on her four decades working in finance and on environmental and human rights issues. Dillon-Ridgley is the chair of the board of the Intentional Endowments Network, and has served on 23 US delegations to the UN, including the first United Nations Conference on Environment and Development in Rio de Janeiro in 1992. Plus, Monique has the headlines.
Going beyond 'net-zero' in the public markets with Ariane Mahler
"Net zero is not going to get us anywhere,” Ariane Mahler of Veridien Global Investors tells David Bank on this week's podcast. “You need negative emissions, not just net zero.” Veridien’s forthcoming exchange-traded fund (ticker: CLIA) will include names in construction, waste management, agriculture and forestry as well as transportation and energy that “have as their main focus the reduction of greenhouse gas emissions.” Plus, Brian Walsh has the headlines.
Links:
Veridien Global Investors: https://www.veridienglobalinvestors.com/
Climate Risk Analytics: https://www.urgentem.net/
Subscribe to ImpactAlpha: https://impactalpha.com/subscribe/
Training the next generation of impact investors with Adwoa Asare
The Turner Miint’s Adwoa Asare joins co-hosts Monique Aiken and Brian Walsh to talk about training the next generation of impact investors – and the winners of this year’s competition. Plus the headlines.
In spite of itself, Texas takes on mantle of climate leader
From Austin, ImpactAlpha’s Dennis Price joins host Brian Walsh to discuss Texas’s surprising role as the U.S.’s leader in clean energy – and how the oil-pumping state might still wrest defeat from the jaws of victory. Plus, the headlines.
Check up on this week's Agents of Impact Call at impactalpha.com/calls
How bank failures and interest rate hikes have changed the dynamics of impact investing.
Host Monique Aiken has the headlines and Atlas Impact Partners’ Robert Brown and ImpactAlpha contributing editor Imogen Rose-Smith join David Bank to parse how bank failures and interest rate hikes have changed the dynamics of impact investing – perhaps forever. “The current iteration of impact investors and advocates – those seeking to redirect large pools of capital – has thrived in the context of low rates, steady economic growth, stable geopolitical environment and favorable regulatory environment,” Brown says. “Throw all that out the window.”
Ben McAdams: Marrying public real estate and private capital (podcast)
As mayor of Salt Lake County a decade ago, Ben McAdams was frustrated that there wasn’t $500,000 in a $1.3 billion annual budget for a promising early childhood education program (instead he helped craft one of the country’s first social impact bonds). But an effort he led to map the value of the city’s underutilized real estate yielded an impressive number: at least $15 billion, and up to $45 billion if properties are developed thoughtfully. “I found out there is actually money under our mattress,” McAdams tells David Bank on this week’s Impact Briefing podcast. “It's real estate that is just forgotten.”
Sana Kapadia on the alpha opportunity for investors who are gender smart
2x Global’s Sana Kapadia joins host Monique Aiken to ring in Women’s History Month and talk about the state of gender-lens investing. Plus, the headlines.
Relevant links from Sana:
- Website
- Inclusive climate and gender finance report and launch event (March 14th)
- The Forum
- Currently hiring a climate lead
Scaling purpose built impact with Priya Parrish
Impact Engine’s Priya Parrish joins David Bank to explain why purpose built investment firms end up with better impact outcomes than purpose driven firms. Plus, host Brian Walsh has the headlines.
[Briefing] University of California’s rescue of Blackstone’s REIT
The roundtable – that’s Brian Walsh, Imogen Rose-Smith and David Bank – is back together to discuss private equity and, specifically, that $4.5 billion investment made by the investment office of the University of California’s Board of Regents into the Blackstone Real Estate Investment Trust. Plus, the headlines.
Don't forget to email us (podcast@impactalpha.com) with your feedback, and check out the replay of The Call: impactalpha.com/calls
How Project Equity is turning employees into owners by surfing the 'silver tsunami'
Project Equity’s Alison Lingane talks with ImpactAlpha’s David Bank about the growing popularity of employee ownership as a strategy for generating wealth and democratizing the economy. And, host Monique Aiken has the headlines.
Finding the opportunities for impact investors in Biden's SOTU
Fran Seegull of the Impact Investing Alliance joins David Bank to talk about jobs, climate and communities in this week’s State of the Union address and to preview Agents of Impact Call No. 49. Plus, the headlines.
RSVP for The Call: https://www.eventbrite.com/e/the-year-of-the-s-public-policy-for-social-equity-in-2023-tickets-538081796137
Finding the opportunities in (and the problems with) muni bonds
ImpactAlpha’s David Bank joins host Monique Aiken to share takeaways from this week’s Agents of Impact Call on how investors are working to advance racial justice through the municipal bond market. Plus, the headlines.