Insights and resources by and for the next generation of active and aspiring impact and inclusive investors.
📰 Industry News
Biden announces $6B in funding to scale industrial decarbonization projects for energy-intensive industries such as such as iron and steel, aluminum, chemicals, and concrete.
Fast Company’s, Linda Greub and Eva Epker, make the case for why investing in women’s health is impact investing.
Fortune Magazine’s, Eamon Barrett, writes on why when it comes to ESG, the S is often overshadowed.
Yale School of Management published an interview with impact investing advisor Clint Bartlett ’17 and Professor Todd Cort, who argue that the tools of impact investing can undermine resilience in the global south.
Survey results from American Century Investments sixth impact investing survey showed men’s growing interest in impact investing matches and outpaces women’s. In addition, the survey found that appeal for both genders has increased over the years for all generations.
📃Regulatory
In the US, Senate Republicans and two Democrats voted to approve a resolution to stop a new US Department of Labor rule that would allow retirement plan managers to incorporate ESG considerations into their investment decisions.
This would affect $12T of assets under management for roughly 150M Americans.
President Biden is expected to use his first veto of his presidency to strike down the rule, believing it necessary to allow retirement advisers to factor in issues like climate change.
Canada’s financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), announces climate reporting requirements for banks and insurers
The EU is considering a ban on the production and use of “forever chemicals” per- and polyfluoroalkyl substances (PFAS).
PFAS are a group of chemicals that bioaccumulate in humans and the environment, and have been linked to serious health and environmental issues.
Similarly, the EPA is expected to propose restrictions in drinking water after finding they are dangerous even in small amounts.
After nearly 20 years of negotiations, nearly 200 countries globally agreed on language for a historic United Nations treaty entitled “The High Seas Treaty” to protect ocean biodiversity. If ratified, this treaty will help us protect 30% of the planet’s land and oceans by 2030, a goal previously set at COP15 in December 2022.
The the UN Convention on the Law of the SeaThe last international agreement on ocean protection was signed 40 years ago in 1982.
To combat greenwashing in the bond markets, the EU passed the European Green Bonds Standard (EUGBS), which companies can choose to comply with.
📏Measurement & Management
The Sustainable Finance Action Council (SFAC) released its Taxonomy Roadmap Report featuring a Canadian Green and Transition Financial Taxonomy Framework, backed by Canada’s 25 largest financial institutions.
The International Sustainability Standards Board (ISSB) announced consensus on final content of its first set of sustainability standards, expected for issuance at the end of Q2 2023.
The British Standard Institute supported by the International Organization for Standardisation (ISO) launches new sustainable finance standard. The standard offers guidance for finance organizations such as direct lenders, investors, asset managers, and related service providers, to drive sustainable outcomes and integrate key principles of sustainability into their operations, activities, products and services.
📚Resources
Paper “Can Investors Save the Planet? NZAMI and fiduciary duty” published in Capital Markets Law Journal claims that aligning investment portfolios with a net-zero climate pledge is problematic because it risks short-term performance in service of long-term environmental protection.
BLCK VC, in partnership with Silicon Valley Bank, published the 2023 edition of the State of Black Venture Report.
Deloitte publishes report on pathways to decarbonizing agriculture; globally, today's food system accounts for 25% of CO2 emissions, 44% of methane emissions, and 80% of nitrogen emissions.
🌟 New and Emerging Funds
🌱Climate:
Former US secretary of state Hillary Clinton announced a Global Climate Resilience Fund of $50M for women to fight climate change in association with the Self Employed Women's Association (SEWA) founded by late activist Ela Bhatt.
United Airlines launched the United Airlines Ventures Sustainable Flight Fund, a $100M fund investing in sustainable aviation fuel.
Ocean 14 Capital, received a €30M investment from Ingka Investments for its €150 million impact fund to support its work in funding sustainable solutions that improve ocean health.
Germany launches €1bn fund for climate and deeptech scaleups.
Planet A Ventures closed a €160M debut fund to back science-led climate tech ventures.
The EIF, backed by InvestEU, invested €30M in the first close of European Climate Debt Solutions Fund (“EUCLIDES”) managed by Rivage Investment.
💲Financial Inclusion:
Belgian impact investor Incofin, announces the final close of its $77M India Progress Fund (IPF), investing in financial inclusion and the agri-food value chain in the Indian rural economy.
Cadence Design Systems, Inc., (Nasdaq: CDNS) announces $50M purpose-driven investment in an impact investment program managed by RBC Global Asset Management (RBC GAM) to address racial wealth inequities in affordable housing, homeownership and small business
🔁 Fund Re-Ups
🌱Climate:
MUUS Climate Partners announced the close of MUUS Convergence Fund II, a $50M fund focused on impactful climate tech companies at the cusp of commercialization.
Fifth Wall announced the close of $1.5B of new funds in 2022, including the $866M Real Estate Tech Fund III, €140M European Fund and $500M Climate Fund.
Contrarian Ventures secures €25M from EIF for €100M second fund.
📚Education:
New Markets Ventures Partners closes $160M for fifth education fund.
🗓️ Events
CERAWeek 2023
CERAWeek by S&P Global is the energy industry’s preeminent gathering of senior executives, government officials, thought leaders, academics, technology innovators, and financial leaders.
📅When: March 6-10
📍Where: Houston, TX
Natural Products Expo West 2023
World's leading natural, organic & healthy products events bringing together our industry to cultivate a high-integrity CPG and retail ecosystem that creates health, joy and justice for all people while regenerating the planet.
📅When: March 7-11
📍Where: Anaheim, CA
SXSW Conference & Festivals
An essential destination for global professionals, the annual March event features sessions, music and comedy showcases, film screenings, exhibitions, professional development, and a variety of networking opportunities.
📅When: March 10-19
📍Where: Austin, TX
2023 Wall Street Green Summit
Covering mega theme of decarbonization from the lens of ESG Investing, Carbon Markets and Offsets, Carbon Capture, Clean Energy Technology, and Exchanges.
📅When: March 13-14
📍Where: New York City, NY
Future Food Tech: Innovation & Investment from Farm to Fork
Connecting 1600 international food brands, ingredient providers, investors, start-ups and technology leaders.
📅When: Mar 16-17
📍Where: San Francisco, CA
UN 2023 Water Conference
Co-hosted by the Governments of Tajikistan and the Netherlands, will feature an opening and closing ceremony, six plenary meetings and five multi-stakeholder interactive dialogues. It will also feature a number of high-level special events and side events organized by Member States, the UN system and other stakeholders.
📅When: March 22-24
📍Where: New York, NY
The ARPA-E Energy Innovation Summit
13th annual conference and technology showcase that brings together experts from different technical disciplines and professional communities to think about America's energy challenges in new and innovative ways.
📅When: March 22-24
📍Where: Washington, DC
Phenix Capital Impact Summit Europe
Highly curated institutional investor conference designed to bring together thought leaders and practitioners in impact investing with the objective to catalyze private institutional capital in support of the United Nations Sustainable Development Goals.
📅When: March 28-29
📍Where: The Hague, Netherlands
Impact Investment Summit
Harnessing the power of the collective – partners, supporting organizations, institutional and private investors, social enterprises, family foundations, government, media - to shift more capital as a force for good of people and planet.
📅When: March 30-31
📍Where: Sydney, Australia
Skoll World Forum
Exploring the progress, challenges, and lessons of the past two decades and survey the road ahead.
📅When: April 12-14
📍Where: Oxford, UK
Cumulus
The premiere gathering of industry leaders, innovators, and investors in a showcase of the cutting edge of foodtech, agtech and intersecting climatetech companies.
📅When: April 17-19
📍Where: Las Vegas, NV
Impact Investing World Forum 2023
Exploring the progress, challenges, and lessons of the past two decades and survey the road ahead.
📅When: May 4-5
📍Where: London, UK
Blue Food Innovation Summit
13th annual conference and technology showcase that brings together experts from different technical disciplines and professional communities to think about America's energy challenges in new and innovative ways.
📅When: May 23-24
📍Where: London, UK
💼 Jobs
Part Time Roles -
Summer Investment Associate @ Quona Capital
Biotech Analyst Intern @ Marble
MBA Intern @ G2 Venture Partners
Full Time Roles -
Associate @ Climate Capital
Principal @ Orion Resource Partners
Associate @ Amplify Capital
Investment Associate @ Avesta Fund
Senior Analyst @ JFF Ventures
Investment Associate @ Two Sigma Impact
Investment Associate @ Equal Opportunity Ventures
Investment Associate @ Black Farmer Fund
VP, Private Equity @ Arctaris Impact Investors
Chief Operating Officer @ Community Impact Management
👩🏾💻 Engage with Spriing
Written by: Alita Carbone, Ian Heinrich
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