The field of impact investing took a significant stride forward today as InSight at Pacific Community Ventures and the Initiative for Responsible Investment (IRI) at Harvard University were granted $1 million by The Rockefeller Foundation to continue work in policy innovation on private investment for public good.
As leaders in advancing the arena of investing for both financial return and positive social and environmental impact, InSight and IRI will expand their efforts by creating an active network of global researchers, an online portal for disseminating knowledge, ongoing national and international workshops, and advisory services for policymakers drawn to impact investing as a way to leverage finite public dollars. Rockefeller is the lead funder for the next three years of the project’s accelerated growth, which includes funds for InSight and IRI to award sub-grants and fellowships to key collaborators in the field.
“With their strong international networks and sophisticated analysis of impact investing, including the recently released report Impact at Scale, InSight and IRI are well-positioned to grow the field and help drive capital to address some of the world’s most intractable problems—from the need for affordable housing to climate change,” said Dr. Judith Rodin, President of the Rockefeller Foundation.
“With the growing role and interest of government policy in catalyzing private investment for public purposes, InSight and IRI look forward to acting as a critical knowledge center and advisor,” noted Beth Sirull, executive director of Pacific Community Ventures. “This award allows us to greatly expand our efforts and ensure that investing for social good will be a game-changer in solving the fundamental challenges of our time, even as these investments earn attractive financial returns.”
InSight and IRI have collaborated for three years, developing unique, applied research that informs policymakers, investors and business leaders on the targeted incentives and market development necessary to harness private capital for verifiable social benefits.
About InSight at Pacific Community Ventures
InSight is the thought leadership practice at Pacific Community Ventures, a U.S. nonprofit Community Development Financial Institution dedicated to driving capital to underserved markets.
About the Initiative for Responsible Investment at Harvard University
The Initiative for Responsible Investment (IRI), a project of the Hauser Center for Nonprofit Organizations at Harvard University, promotes the development of the theory and practice of responsible investment through research, dialogue, and action.
About The Rockefeller Foundation
The Rockefeller Foundation’s mission to promote the well-being of people throughout the world has remained unchanged since its founding in 1913. Today, that mission is applied to an era of rapid globalization. Our vision is that this century will be one in which globalization’s benefits are more widely shared and its challenges are more easily weathered. To realize this vision, the Foundation seeks to achieve two fundamental goals in our work. First, we seek to build resilience that enhances individual, community and institutional capacity to survive, adapt, and grow in the face of acute crises and chronic stresses. Second, we seek to promote growth with equity in which the poor and vulnerable have more access to opportunities that improve their lives. For more information, please visit www.rockefellerfoundation.org.