The results of the U.S. 2024 elections are a shock to the system – not just to our political system, but also in how our economy operates and our society functions. While the full implications of this moment will take time to understand, there can be no doubt that the communities across the country facing economic, social and environmental hardships need our support more than ever. The private sector must rise to the occasion – not just investors and financial institutions, but also businesses, philanthropies, nonprofits and other civil society organizations.
U.S. Impact Investing Alliance Applauds EPA Announcement of Greenhouse Gas Reduction Fund Awardees
Last week, the impact investing community celebrated an important step forward in ensuring that U.S. communities' priorities are centered in the clean energy transition. The Environmental Protection Agency (EPA) announced the eight recipients of funding under the Greenhouse Gas Reduction Fund’s (GGRF) National Clean Investment Fund and Clean Communities Investment Fund.
The Importance of Safeguarding Impact Investing Principles and Accountability Mechanisms in the Face of Legal Challenges
The past several months have seen a troubling surge of litigation threatening investor rights and the ability of regulators to respond to market imperatives. These attacks stem from the same desire to halt progress by private sector leaders and regulators toward a more transparent and accountable economic system. The U.S. Impact Investing Alliance has been working to counter the anti-environmental, social and governance (ESG) movement, and we see the same anti-ESG forces now mobilizing to undermine everything from climate disclosures to diversity, equity and inclusion (DEI). This piece analyzes the legal challenges that impact investing advocates should be tracking – some more high-profile than others, but all with the potential for significant ramifications for our collective ability to manifest a thriving, competitive economy.
U.S. Impact Investing Alliance Applauds Milestone Regulation for Corporate Climate Disclosure
Today, the U.S. Impact Investing Alliance applauds an important milestone for corporate transparency on climate factors. The Securities and Exchange Commission (SEC) released a long-awaited final rule requiring U.S.-listed companies to disclose information related to climate-related risks and their material impacts.
“Climate risk is financial risk, and investors need access to clear, comparable data on these factors from companies to inform their decisions,” said Fran Seegull, President of the Alliance. “Though there is room to strengthen certain provisions, we still believe the SEC’s final rule marks progress in advancing fair and efficient markets. Today signals a win for investors, U.S. economic competitiveness and market stability.”
U.S. Impact Investing Alliance Applauds Historic Modernization of the Community Reinvestment Act
Earlier this week, U.S. banking regulators released long-awaited rules finalizing transformative reforms to the 1977 Community Reinvestment Act (CRA). The Alliance applauds the regulating bodies for taking this action, which represents the most significant effort to modernize and strengthen the CRA in nearly 30 years.
Conceived in the wake of the civil rights movement, the CRA was enacted to rectify the historical practices of redlining by requiring banks to equitably serve their communities. The CRA has been instrumental in shaping the community investing ecosystem, flowing capital to community development financial institutions (CDFI) and minority depository institutions (MDI) that serve as critical intermediaries in underserved communities. That said, the CRA has yet to fulfill its core purpose.
U.S. Impact Investing Alliance Submits Comments on ISSB Work Plan
The U.S. Impact Investing Alliance responded to the “Consultation on Agenda Priorities” issued by the International Sustainability Standards Board (ISSB). The body, which helps set standards on sustainability-related accounting issues for more than 140 jurisdictions worldwide, released inaugural standards on General Sustainability and Climate-Related Disclosure by companies in June 2023. The latest consultation sought to understand the priorities of investors, business leaders and other stakeholders in determining ISSB’s work plan for the next two years.