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  • Mission investing opportunities: CCM webcast on Green Approaches to Fixed Income Investing

    March 25, 2009

    Lisa Hagerman, Wednesday, March 25th, 2009

    Mission-driven investors are becoming more interested in green fixed income opportunities (e.g. green certified energy efficient buildings) as an easy point of first entry into mission investing, with new investment products available that support a foundation’s social and environmental returns while offering stable financial returns.

    According to the Environmental Protection Agency (EPA), buildings account for 39% of total energy consumption, 38% of carbon emissions, 30% of raw materials waste in landfills, and 12% of potable water consumption. Green approaches to fixed income investments supporting green buildings reduces energy consumption costs and provides safe and healthy living environments—a broader mission of foundations. See full article by Robert Kropp at Sustainability Investment News.

    David Wood, Director, Boston College Institute for Responsible Investment, moderated the webcast, “Green Approaches to Fixed Income Investing”, on March 18th hosted by Community Capital Management (CCM), a Florida-based registered investment advisor that provides fixed income strategies to institutional investors.

    The webcast gathered a large crowd (165 participants) representing a cross-section of stakeholders including investors (banks, foundations, and public pension funds), consultants, and investment fund managers.

    Barbara VanScoy, Executive Vice President and Senior Portfolio Manager for Community Capital Management presented their "non-traditional" Core Fixed Income strategy, which invests in taxable municipal bonds, multifamily mortgage-backed securities, asset-backed securities that support enterprise development, and targeted single-family securities that support affordable and responsible home ownership. "We now provide investors the opportunity to designate that the proceeds of their investment will be used to purchase securities that support environmental initiatives," said Barbara VanScoy. As of 12/31/08, approximately 17% of assets in the firm's composite of Core Fixed Income portfolios were allocated to U.S. agency multifamily mortgage-backed securities, which generated a quarterly return of 5%. Many of these instruments are collateralized by mortgages on affordable rental properties that incorporate green design features promoting smart growth, energy efficiency, and resource conservation.

    Michael Furze, Green Initiative Specialist, spoke on the New Mexico Mortgage Finance Authority (MFA), a public-private partnership created by the state legislature in 1975 that has provided $3.9 billion in affordable housing finance options for low to moderate-income New Mexicans. Michael Furze presented on green building initiatives at MFA that receive Leadership in Energy and Environmental Design (LEED) ratings and Energy Star (an EPA program) designation.

    To download presentations click here.
     

    posted 1:04PM 03/25/2009 by Lisa Hagerman

  • More for Mission Leadership Committee member - The California Endowment - commits $75 million to mission investing

    March 17, 2009

    Lisa Hagerman, Tuesday, March 17th, 2009

    The California Endowment joined the More for Mission Leadership Committee this month. In late 2008 the foundation committed $75 million to mission investing. The foundation will seek opportunities for mission investments that align with the California Endowment’s new 10-year strategic direction (2010-2020): Building Healthy Communities. The goal of this place-based strategy is to transform distressed California communities into neighborhoods that are safe and healthy places for children to grow and learn. The California Endowment has recently selected 14 communities, impacted by low health outcomes, yet with the potential to develop into model communities. Building Healthy Communities connects to the foundation’s broader policy strategy statewide so that it can affect systems change throughout California. Learn more at: The California Endowment: Building Healthy Communities

    posted 11:28AM 03/17/2009 by Lisa Hagerman

  • Mission Investing Comes in Many Forms - Responsible Contracting Policies

    March 09, 2009

    David Wood, Monday, March 9th, 2009

    Mission investing comes in many forms: the Atkinson Charitable Foundation in Canada, for instance, has undertaken a multi-stakeholder project backed by the Atkinson Charitable Foundation, designed to create a model Responsible Contracting Policy for Canadian investors, as a way to address the social problems caused by precarious employment especially in the property services sector. Engagement with real estate fund managers can be understood as both a way to improve long-term performance by supporting stable and quality employment ­ it is also a tool for achieving the foundation¹s mission to promote social justice.

    As part of this work, the Boston College Institute for Responsible Investment participated in a study, with Shareholder Association for Research and Education (SHARE) and the Carleton Centre for Community Innovation, on the potential for Responsible Contracting Policies to be adopted in Canada. You can read the study here.
     

    posted 10:32AM 03/09/2009 by David Wood

  • President Obama's FY 2010 Budget: A New Era of Responsibility - Doubles Funding for CDFI Fund

    March 02, 2009

    Lisa Hagerman, Monday, March 2nd, 2009

    President Obama unveiled his FY2010 budget outline that requests a doubling of the CDFI Fund allocation expected to be at over $200 million making it the highest appropriation level in the CDFI Fund history. CDFI Fund Director Donna Gambrell comments:

    "I am very pleased to know that President Obama views the CDFI Fund and the programs we administer as a key part of his strategy to address the economic challenges facing our nation’s low-income urban, rural and Native communities," said CDFI Fund Director Donna Gambrell. "With the additional funding made available through the Recovery Act, and the potential for doubling our appropriations through the fiscal year 2010 budget, I know that Community Development Financial Institutions and Community Development Entities will be responsible and active partners in President Obama’s efforts to restore opportunity and prosperity across this great country."

    Learn more through the CDFI Coalition, that advocates on behalf of the CDFI industry and educates the public about community development finance, and at CDFI Coalition E-news: CDFIs Making an Impact! (2/26/09).
     

     

    posted 12:50PM 03/02/2009 by Lisa Hagerman

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