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Blog Archives: June 2020

Confluence Philanthropy’s Climate Solutions Summit: The Role of Banks in Fighting Climate Change

June 17, 2020
Vanessa Fajans-Turner, BankFWD
Last September, climate leader and 350.org founder Bill McKibben authored an article in the New Yorker that summarized the consequential role that major banks play in either supporting or undermining the fight against climate change: “On the spectrum of shifts that the climate crisis will require, bankers and investors and insurers have it easy. A manageably small part of their business needs to disappear, to be replaced by what comes next. No one should actually be a master of the universe. But, for the moment, the financial giants are the ...

Aligning the Banking Sector to Bring Down Emissions

June 17, 2020
Ivan Frishberg, Amalgamated Foundation
A lifetime ago, back in February, we were kicking off the ‘Decisive Decade’ with Confluence’s ten-year anniversary gathering in Puerto Rico. From many perspectives, it’s very clear why this is a decisive decade, but to drive the point home, former Governor of the Bank of England keynoted the Confluence Climate Solutions Summit. He launched his climate advocacy work with a speech bemoaning the ‘lost decade.’ This refers to the decade just passed, during which the admonitions of scientists and activists went largely unheeded and emissions kept ...

Values-aligned investors enjoy the privilege to be resilient and strategic in a time of crisis and must not take that for granted

June 16, 2020
Tom Mitchell, Cambridge Associates
It was an honor and a pleasure to join the Confluence Philanthropy Advisors Forum, where our opening panel offered some excellent perspectives on the current environment and both the crisis & opportunity for values-aligned investors. I’m grateful to have the opportunity to elaborate on the discussion and share some ideas that are driving the actions of clients focused on sustainability and impact at Cambridge Associates, and to unambiguously state that all of us who enjoy the privilege to work in investments and philanthropy can and must do ...

Market Perspectives: Crisis and Opportunity for Values Aligned Investors

June 11, 2020
Ian Simm, Impax Asset Management
Confluence Philanthropy's recent virtual Advisors Forum included a panel discussion I participated in which focused on the opportunities for values aligned investors. The lively discussion explored a range of important issues related to the transition to a more sustainable economy, including the impact of the COVID-19 crisis on the investment industry and whether the ESG framework will need to evolve as a result of the crisis. Over the past decade, ESG has emerged as a powerful force in investment thinking: not only are many asset owners ...

How Philanthropy Should Lead Post-COVID Recovery

June 09, 2020
Michael H. Shuman
As the country emerges from the long shadow of COVID-19 and millions of essential businesses teeter on the edge of bankruptcy, communities will face agonizing fiscal decisions. Caught in the vice between escalating basic needs and shrunken tax revenues, they will be pushed to make deep cuts in essential programs, everything from job training to school lunches. Philanthropy will be called upon the fill the gap, just as Uncle Sam has. But writing checks is not enough. If philanthropists gave every penny of their grant-giving capacity next ...

Aligning Investments with Sustainability, Equity, and Justice

June 09, 2020
Dan Chu, Sierra Club Foundation
True, lasting, climate progress is measured not only by reductions in carbon, but also by how climate solutions can more fairly distribute wealth and jobs, and reduce the exploitation of natural resources and human labor to create a more equitable and just world for all. As a member of the Confluence Philanthropy board, I am excited about its new mission statement: To transform the practice of investing by aligning capital with our community’s values of sustainability, equity, and justice. This mission statement recognizes that ...

Trailblazer Feature: My Investing in the Road Less Traveled

June 08, 2020
Erika Karp, Cornerstone Capital
It feels like a hundred years ago that I first walked onto the vast trading floor of one of the world’s largest global investment banks. All I could think was, “Cool.” I was enthralled by the energy and intensity. There seemed to be important work being done and new insights being shared as salespeople, traders, and analysts moved the capital markets. Back then, as a new associate in the institutional equities business, I couldn’t possibly have known the path that I would ultimately take. And over the past thirty years, I have felt ...

5 Ways To Donate To Honor George Floyd And Work For Justice & Accountability

June 03, 2020
Dana Lanza, Confluence Philanthropy
Dear Members and Friends: As the unprecedented events of the past few days evolve Confluence has engaged deeply with those of our members attending the Third Annual Advisors Forum and Climate Solutions Summit. Throughout the event we are discussing the real economy investing imperative, and, for supporting frontline activist groups. They are the protectors of our democracy right now. We encourage everyone, each individual and every institution, to give what you can to support these groups. We can all give something. Many ...