October 2021 | Field News & Resources
This page features this month's highlights, announcements, resources, and general news related to advancements in the impact investing field.
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Groundworks New Mexico and the New Mexico Impact Investment Collaborative have partnered with RBC Global Asset Management to launch a new impact investing initiative with an aim of supporting community development in the state of New Mexico. Launching with an initial $11 million commitment from Anchorum St. Vincent, Christus St. Vincent, and the McCune Charitable Foundation, investments will focus on homeownership, job creation, small business growth, access to affordable rental housing, healthcare, and other resources that support development in New Mexico.
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A new study by Knight Foundation and Global Economics Group reveals that 30 of the 55 largest foundations are currently investing one in six dollars of their total U.S.-based financial assets with diverse-owned asset management firms. The new report, “Knight Diversity of Asset Managers Research Series: Philanthropy,” an update of the 2020 study, is part of Knight Foundation's commitment to advancing diversity in the asset management industry.
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The McKnight Foundation announced a commitment to achieving net zero greenhouse gas emissions across its $3 billion endowment by 2050 at the latest. McKnight, a funder of climate solutions in the Midwest, is the country’s largest private foundation to pursue a net zero endowment.
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The Ford Foundation has announced a plan to end further investment in fossil fuels and seek out additional climate-friendly investments. Currently, 0.3% of Ford Foundation's endowment is invested in fossil fuels, and the foundation has not made any further investments since 2013.
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The Catalytic Capital Consortium (C3) has awarded $2.2 million to 14 research projects that will analyze the uses of catalytic capital around the world and help build the evidence base to fuel additional risk-tolerant, flexible and patient investments that address critical global challenges.
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This article summarizes a framework that managers and allocators can use to determine the financial effect that an impact investment has on their portfolio. The framework can be applied to institutional portfolios in three different ways: by opening up the dialogue between investors and portfolio managers about the specificities of their impact investments; by giving portfolio managers a way to optimize how they achieve impact; and by enabling performance attribution across investments.
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This article in Giving Compass spotlights ImpactPHL, a nonprofit that works with investors, foundations, and businesses to help them align their financial assets with their values – using a local lens. By publishing an index of impact investments focused on the Greater Philadelphia area, ImpactPHL highlights opportunities for investors to put their capital to work in their own backyards, while elevating Black- or Brown-led enterprises at the same time. Mission Investors Exchange is included as a resource to learn more about impact investing.
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This article in Inside Philanthropy highlights large foundations, including the Ford Foundation and the McKnight Foundation, that have publicly announced their commitment to divest from fossil fuels and features a quote from MIE CEO Matt Onek.
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Take a survey being conducted by Rockefeller Philanthropy Advisors on trends in philanthropy, including challenges, motivations, tools, and timeframes for giving (i.e. in-perpetuity, “giving while living,” time-limited, etc.). The survey, open to all types of philanthropic donors and philanthropists, will result in a report that will be shared broadly across the philanthropic sector.
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This booklet explores the Kresge Foundation’s $350 million social investing work from 2015-2000. Readers can dive into an introduction from President & CEO Rip Rapson on key takeaways from Kresge's past five years of impact investing, an overview of the initiative, a timeline of key moments, and a table of all program-related investments and guarantees made by the foundation.