The U.S. Impact Investing Alliance stands in solidarity with the people of Ukraine and those calling for an end to Russia’s unprovoked invasion. We are heartened by the rapid response of individuals, governments, NGOs, businesses and investors around the world to hold Russia accountable and to provide aid to those who have been threatened or displaced. Much more will be required in the months and years to come as a humanitarian crisis unfolds in Europe and around the world.
Policy Corner: Agents of Impact eye corporate disclosure rules on climate and human capital
[Originally published in ImpactAlpha’s ‘Policy Corner’] Healthy and functioning markets depend on transparency and accountability. Impact investors have long understood that this extends to a need for information on companies' behavior and impact on the world around them. Now, amid the growing urgency of the climate crisis and the cost of inequality, regulators are taking notice too.
Policy Corner: Progress on a dozen policies to mobilize private capital for public good
[Originally published in ImpactAlpha’s ‘Policy Corner’] There is no shortage of challenges facing leaders in Washington. The coming midterm elections will increasingly dominate the headlines. But impact investors must continue to push for policies that will catalyze private capital to improve the lives of Americans and help address our ongoing social, economic and environmental crises. The principles of impact investing have long captured bipartisan interest.
U.S. Impact Investing Alliance Applauds SEC for Protecting Investors’ Proxy Voting Rights
Earlier today, the U.S. Impact Investing Alliance submitted comments to the Securities and Exchange Commission (SEC) in support of their proposed amendments to the rules governing proxy voting advice for shareholders.
The proposal would rescind a provision finalized in 2020 that undermined the independence of the proxy advisory process. In doing so, the SEC is rightly course correcting and ensuring that investors have access to timely, accurate and unbiased advice, a core element of their shareholder engagement rights.
Policy Corner: How business, investors and government are working together to drive equitable economic growth
[Originally published in ImpactAlpha’s ‘Policy Corner’] It’s not every day that leaders from government, business and finance come together to advance a shared vision of how to make economic growth more equitable and inclusive. But a group of 60 impact-oriented businesses and investors, including the U.S. Impact Investing Alliance and B Lab, are answering the call with the launch of a coalition committed to working side-by-side with government to amplify and accelerate the equity agenda.
U.S. Impact Investing Alliance Applauds Critical Step Toward an Improved CRA
The U.S. Impact Investing Alliance applauds the Office of the Comptroller of the Currency (OCC) for its issuance of a final rule yesterday rescinding the 2020 Community Reinvestment Act (CRA) rule from the previous administration. Alongside our peers, the Alliance has submitted several comments to the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the OCC expressing the need for the agencies to work collaboratively to uphold the CRA’s core purpose and to better address racial disparities in lending.
Coalition on Inclusive Economic Growth Members Write in Support of Department of Labor Affirmation of ESG Materiality Under ERISA
The U.S. Impact Investing Alliance, along with over 20 other members of the Coalition on Inclusive Economic Growth, comprised of businesses, investors and nonprofits, submitted a letter in support of the Department of Labor’s (DOL) proposed rules clarifying retirement and pension plan fiduciaries’ use of environmental, social and governance (ESG) factors under the Employee Retirement Income Security Act (ERISA).
Policy Corner: Congress must keep path clear for SEC to require corporate political spending disclosure
[Originally published in ImpactAlpha’s ‘Policy Corner’] In these challenging times, we must celebrate the wins where we can. After years of conservative obstruction in Congress, the Senate finally removed harmful language from the federal budget bill stopping the Securities and Exchange Commission from finalizing a rule requiring corporations to disclose their political activity. Now, Democrats in the House and Senate must fight to fund the government before the money runs out on Dec. 3, and keep this harmful language from returning to any final budget deal. Call your members of Congress today and tell them to pass a clean budget, free of this pernicious provision.
Group of 30 Organizations Committed to Inclusive Economic Growth Write in Support of Strengthened CRA
The U.S. Impact Investing Alliance, along with 29 organizations, representing businesses, investors, community lenders and advocates, and aligned around the principles of inclusive economic growth, submitted a letter in support of the Office of the Comptroller of the Currency’s (OCC) proposal to rescind June 2020 changes to Community Reinvestment Act (CRA) regulations that would – if fully implemented – significantly weaken the policy. The signatories applauded the OCC’s decision to pursue a cohesive set of reforms that will modernize and strengthen the CRA alongside its peer regulating agencies - the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve.
U.S. Impact Investing Alliance Applauds Regulator’s Step Toward Modernized Fiduciary Duty
The U.S. Impact Investment Alliance praised proposed rules published today by the Department of Labor, which provide greatly improved guidance to the managers of 401(k)s and private pension plans, governed under the Employee Retirement Income Security Act (ERISA). Specifically, the rules acknowledge the clear and growing evidence of the financial risks posed by the climate crisis as well as the material importance of corporate America’s governance, workforce and other environmental, social and governance (ESG) practices.
Policy Corner: Power Shifting Boosts the Potential of Impact Investments: Charitable Reform Policies Could Help
[Originally published in ImpactAlpha’s ‘Policy Corner’] — Maximizing the transformative possibilities of impact investments requires shifting power from individuals and institutions toward communities that have historically been kept at the margins. In the absence of such a power shift, well-intentioned investors have delivered status quo formulas for helping those without power – with mixed results.
Policy Corner: Global Standards for Sustainability Accounting Must Be Holistic and Inclusive
[Originally published in ImpactAlpha’s ‘Policy Corner’] When global leaders converge on Glasgow in November for the COP26 climate summit, all eyes will be on the pledges that politicians make to address the climate emergency. A quieter, but in many ways highly significant, announcement also is expected to be made at the conference. The International Financial Reporting Standards Foundation, or IFRS, which sets reporting and accounting standards for companies in 166 jurisdictions worldwide, is expected to launch an International Sustainability Standards Board, and its first ever roadmap towards sustainability reporting.
Congressional Support for White House Initiative on Inclusive Economic Growth Proposal
A just and equitable recovery from the intersecting crises of the COVID-19 pandemic and economic fallout, systemic racial injustice and climate change will only be achievable if the public and private sectors work together. The U.S. Impact Investing Alliance applauds the leadership of Representative Dean Phillips (MN), Representative David Cicilline (RI), Senator Mark Warner (VA) and their colleagues in the House and Senate in writing letters to the Biden-Harris Administration in support of the proposed White House Initiative on Inclusive Economic Growth.
Policy Corner: A partnership between the U.S. Impact Investing Alliance and ImpactAlpha
U.S. Impact Investing Alliance Applauds SEC and Nasdaq on Progress Toward Improved Corporate Diversity
The U.S. Impact Investing Alliance applauds the SEC’s approval of Nasdaq’s board diversity and disclosure requirements for the companies listed on its exchange. This latest development represents encouraging leadership by Nasdaq and the SEC to improve diversity in corporate America and transparency in the capital markets.
There’s no building back better without investing in underserved communities
[Originally published in ImpactAlpha] — Between record levels of government stimulus, an unprecedented vaccination campaign and a buzzing economy, it’s easy to see reasons for optimism as America continues its recovery from the COVID-19 pandemic and ensuing crises. But if the United States is to fulfill the vision of the Biden-Harris Administration to “Build Back Better,” then no recovery can be considered just or equitable without the resurgence of Black, Brown, Indigenous, rural and other communities that for too long have been denied adequate access to economic development opportunities.
U.S. Impact Investing Alliance Applauds Most Recent Progress Toward CRA Reform Alignment
The U.S. Impact Investing Alliance applauds the Office of the Comptroller of the Currency (OCC) for proposing to rescind a rule from the previous administration that would have significantly weakened the Community Reinvestment Act (CRA). If left to stand, the rule would have jeopardized a critical policy for driving capital to underserved communities at a time when stability is paramount given ongoing challenges such as the COVID-19 pandemic and ensuing economic downturn, systemic racism and the climate crisis.
U.S. Impact Investing Alliance Hosts Congressional Briefing on Catalyzing Private Capital for Public Good
The U.S. Impact Investing Alliance hosted an educational briefing for Congressional staff on how impact investors and policymakers can partner to drive more private capital for public good – starting with supporting an inclusive recovery from the public health, social, economic and environmental challenges we are facing.
U.S. Impact Investing Alliance Applauds Step Toward Impact Transparency in Congress
On June 16, 2021, the U.S. House of Representatives passed H.R. 1187, a package of legislation that would require the SEC to mandate disclosures by public companies on environmental, social and governance (ESG) factors, climate risks, political spending and other issues. Taken alongside the SEC’s interest in climate and ESG disclosure, this represents a significant moment for investors and other stakeholders seeking greater transparency in the capital markets.
U.S. Impact Investing Alliance Writes to SEC in Support of Mandated ESG Disclosure
The U.S. Impact Investing Alliance submitted comments earlier this week in support of mandated climate and ESG disclosures by the U.S. Securities and Exchange Commission (SEC). The Alliance was responding to a March request for public input by Commissioner Allison Herren Lee that is expected to set the stage for future rulemakings.