Read the Latest Public Policy Docket from the U.S. Impact Investing Alliance, “Private Capital, Public Good: Building shared prosperity to create a resilient and inclusive economy.”
Shared prosperity is a shared responsibility.
In recent years, the United States benefited from a robust macroeconomic recovery from the COVID-19 and related crises, particularly compared to its global peers. Yet, despite record employment and historic investments across infrastructure and industry, many people across the country feel that the American dream is increasingly out of reach.
This is a moment that demands more from us as advocates and investors for a sustainable, equitable economy for all.
It is time to double down, not disengage.
Since the Alliance launched in 2017, we have found that the principles of impact investing have broad bipartisan appeal with leaders in Washington. We knew that, regardless of the 2024 election outcomes, our work would continue.
In the immediate aftermath of the U.S. elections, we wrote that the results were a shock to the system – not just to our political system, but also in how our economy operates and how our society functions. In the weeks that followed, the Alliance connected with key partners across the impact investing community to better understand the likely implications for the investors we represent and the communities that are essential to achieving shared prosperity.
We close out 2024 assured that impact investing will continue to grow and that the members of our community–including investors, business leaders, foundations, community builders–are determined to push forward in advancing lasting, positive change. And it is also clear that policy will continue to play an important role enabling and encouraging those efforts.
Our core message to partners is that now is the time to double down, not disengage. The messages and tactics we employ as advocates may need to evolve to meet new challenges. Our mission remains constant, however, and we continue to believe in the power of public policy as a lever for progress.
Where we see opportunities for progress.
For the Alliance, our advocacy over the next few years will be driven by our new public policy docket, “Private Capital, Public Good: Building shared prosperity to create a resilient and inclusive economy.”
The Alliance released “Private Capital, Public Good: leveraging impact investing to support a just and equitable recovery” in 2020, which focused on how government and impact investors could spur recovery and resilience from the COVID-19 pandemic. This latest report spotlights where impact investors and policymakers can help to drive shared prosperity, a frame that we believe transcends political ideologies and cultural differences. After all, the ingredients of shared prosperity – economic security, safe and thriving communities, clean air and water, etc. – appeal to people of all backgrounds.
In particular, we believe impact investing and public policy solutions intersect in three primary ways that together bring us closer to manifesting shared prosperity:
Advancing U.S. economic competitiveness – including policies that spur innovative and thriving domestic industries, create resilient supply chains buttressed by employee-owned firms and support our international development finance efforts.
Fortifying community investing ecosystems – including a focus on historically underinvested communities and the enhancement of federal community investment programs to strengthen our local Main Streets.
Driving impact transparency – including structural changes to our capital markets to put people first and minimize the negative externalities that have gone unchecked at the expense of our society, economy and planet.
Read the full set of recommendations across these three pillars, including the specific government agencies and departments that we plan to engage.
These policy priorities are informed by many of our partners, including community investing leaders and experts in capital markets reform. Thank you to those who contributed their perspectives throughout the research and drafting process.
Where do we go from here?
The Alliance remains committed to being a champion for impact investors and their priorities in Washington, working across the political spectrum to do so. To be clear, operating in a bipartisan manner does not mean sacrificing our underlying values, such as democracy, transparency, accountability, fairness and equity. We will continue to work with policymakers where we align and engage honestly where we disagree.
Public policy is a team sport, and it is also a long game. It is essential that we not allow the coalitions we have built over the past four years to dissolve or be put on the back burner. We must also work to engage new voices and continue to embrace new perspectives that represent our growing movement. Our collective advocacy and educational efforts in the near-term will allow us to push for more transformational change in the years to come.
We encourage those interested to reach out to the Alliance to learn more about “Private Capital, Public Good” and opportunities for partnership, including by joining the Coalition on Inclusive Economic Growth, a group of over 60 impact investor and business organizations dedicated to cross-sector solutions for a better economy for all.
Please pass along these public policy recommendations to those in your network who would find them useful, and do not hesitate to reach out if the Alliance can offer additional insight into the greatest opportunities and challenges ahead.