The IRI and the Grantham Research Institute on Climate Change and the Environment at the London School of Economics have issued a new report, Climate Change and the Just Transition: A Guide for Investor Action. The report is accompanied by an investor statement, which has attracted the support of more than 100 institutions with over $5 trillion in assets under management (AUM).

Coinciding with the COP 24 Climate Conference in Katowice, Poland, the UN's Principles of Responsible Investment (PRI) and International Trade Union Confederation (ITUC) highlighted the critical role investors can play in fostering a dynamic and inclusive economy within climate change adaptation – a just transition. The report, intended to provide actionable steps toward this transition, was delivered in partnership with the Principles for Responsible Investment and the International Trade Union Confederation.

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by Erin Shackelford

The Initiative for Responsible Investment is pleased to announce the release of a new report by IRI Director Dr. David Wood and former IRI Assistant Director Katie Grace Deane (now at the Center for Community Investment) with the support of the MacArthur Foundation.  The report “National Advisory Boards and Impact Investing:  The Power of Cross-Sector Collaboration”, stems from work with the Global Steering Group for Impact Investing (GSG), the successor organization to the Social Impact Investing Taskforce of the G8.  Our new report illuminates the work of National Advisory Boards (NABs) on Impact Investing.... Read more about New IRI Report Examines National Advisory Boards on Impact Investing

by Erin Shackelford

Rebuilding disinvested communities takes more than money. Rather, as research done by the Initiative for Responsible Investment (IRI) at the Harvard Kennedy School has shown, places that have been starved of resources for extended periods of time often lack the policies, practices, or relationships they need to effectively leverage existing or new resources.

IRI's capital absorption framework not only recognizes that there is a complex system that governs how resources flow into communities, it also provides a way to think beyond individual transactions to identify changes at a system level so that investment is used more effectively to achieve community goals. Potential system-level interventions can include bringing new partners to the table, identifying new resources that can be provided by existing partners, creating different ways of doing business, and changing the policies and relationships that determine the allocation of money and other resources.

Many of these approaches are central to strategies used in collaborative initiatives carried out by Community Development Financial Institutions (CDFIs) that have been funded by JPMorgan Chase & Co.'s PRO Neighborhoods program. The growing collaboration among CDFIs—which can be banks, credit unions, or other financial institutions that have a primary mission to provide access to financial services in low-income communities—have included the development of joint products and services, efforts to share risk and expertise, jointly developed new technologies, and the development of larger scale projects which could attract additional investors.

A new case study, which uses this "capital absorption" framework to examine many of the collaborative efforts funded by the PRO Neighborhoods initiative, finds that the funding spurred three types of collaborations that together increased the CDFIs' ability to respond more effectively to key needs and concerns.... Read more about Collaboration by Design: CDFIs, Capital Absorption, and the Creation of Community Investment Systems

By Erin Shackelford

Pension trustees gathered at the Harvard Kennedy School in June for the Trustee Leadership Forum for Retirement Security's Annual Convening.  The TLF hosted 60 trustees and welcomed guests from Canada, the Netherlands, the UK, and South Africa.  Running through the three days of convenings was a mission to elevate the "S in ESG", or, more specifically, how to protect people in investments.  Priya Mathur (CalPERS), David Wood (IRI), Jose Meijer (APB), and Hughes LeTourneau (CWC) all shed light on this topic and shared their work.  Collaboration was another theme that resonated, in particular around investment in "high road" infrastructure.  Thanks to our special guest speakers Jose Meijer, Michael McCarthy, representatives of the Diverse Asset Managers Initiative, and Massachusetts State Treasurer Deborah Goldberg.

And, next week, the TLF is looking forward to welcoming the National Council on Teacher Retirement to campus for their Annual Trustee Workshop.  We are excited to be co-hosting this event for the third time.  The NCTR Annual Trustee Workshop brings 70 teacher pension fund trustees together for three days of education and discussion.... Read more about Pension Trustees Gather at Harvard