‘Resource starved’ is an unfortunately frequently used expression when discussing community development and urban redevelopment programs and initiatives. A few Fridays ago, I had the pleasure of attending “What Works in Community Investing: A Community Development Summit,” convened by the Harvard Joint Center for Housing Studies, the Federal Reserve Bank of San Francisco, The Low Income Investment Fund, and the Citi Foundation. Regardless of a community’s location, size, or socio-economic makeup, speakers throughout the afternoon involved in both the public and private sphere of community development told stories that illustrated the common failures and successes of the work being done towards the creation of sustainable, diverse, and equitable communities. [read more...]
The Initiative for Responsible Investment is pleased to announce the launch of the Global Learning Exchange (GLE) through our work with the Impact Investing Policy Collaborative (IIPC). Through a strategic partnership with the World Economic Forum (WEF) and with ongoing support from the UK Cabinet Office, the GLE exists as a unique multi-stakeholder initiative that facilitates an inclusive and action-oriented dialogue on social impact investing. The GLE will work to serve as a critical and accessible resource for influencers and practitioners across the globe to develop social impact investing. The GLE will cover a range of topics, including financial innovation, impact enterprise, social entrepreneurship, public leadership, market and intermediary infrastructure, social inclusion and investor participation. Learn more about the GLE here and see the full press release from WEF here.
We’ve been working on the intersection of public policy andimpact investing for a while now at the Initiative for Responsible Investment (IRI) and, in anticipation of the upcoming Mission Investors Exchange convening in Washington, D.C. next month, it seems worth thinking more about how foundations in particular fit into that puzzle. So we’ve started to do that.
In the first place, public policy is a useful arena in which to think about all the tools that foundations deploy in support ofimpact investing. Research into the effects of this or that use of public or private resources can inform which policies should be pursued. Grants to investment intermediaries may play an important role in preparing them for public (and private) subsidy or investment. Foundations as investors may enable public policies on affordable housing (to take an obvious example) to be more effective. In other words, thinking about the philanthropic role inimpact investing and public policy is a natural way to think about the broader ecosystem that enables private investment to better serve social goals. [read more...]