Bipartisan legislation signed into law today looks to spur up to $100 billion in new private sector investment in emerging markets around the world.
Why impact data and transparency are keys to the success of opportunity zones
(This article was originally posted to ImpactAlpha) Assets in impact investing continue to surge, buoyed by increasing investor interest in aligning financial goals with social and environmental objectives. Today such assets represent as much as one in five of all U.S. assets under professional management.
U.S. Impact Investing Alliance Statement on Department of Labor ESG Guidance
On April 23, the Department of Labor published a “Field Assistance Bulletin” providing guidance to fiduciaries of private-sector employee benefit plans. The note served as a clarification related to the DOL 2015 guidance on economically targeted investments and the DOL 2016 guidance on shareholder engagement. While remaining clear that fiduciaries must prioritize financial returns, the DOL confirmed that pension managers can and should feel comfortable using ESG factors as an input in evaluating potential risk and financial return.
Congress Passes the Social Impact Partnerships to Pay for Results Act (SIPPRA)
Included in the recently passed Bipartisan Budget Act of 2018 was the Social Impact Partnerships to Pay for Results Act (SIPPRA). This legislation is the result of more than five years’ worth of efforts by bipartisan lawmakers to create a standing pool of capital to support outcomes based financing. It builds on the work and learning of the Social Innovation Fund, state level pay for success projects, and the global movement to create social impact bonds. It was also highlighted as a priority in the National Advisory Board on Impact Investing’s report, Private Capital for Public Good. At the U.S. Impact Investing Alliance, we have been following this bill closely as we know it is a topic of interest to many of our members.
