Thursday
January 10
2019

Climate Change Spurs McKnight to Go Big on Impact Investing

By Marc Gunther

Of the biggest foundations in the United States — the 100 or so with $1 billion or more in assets — none have a deeper commitment to impact investing than the McKnight Foundation.

Ford, to be sure, made a splash in 2017 when it pledged to commit $1 billion to impact investing. But the $1 billion represents less than 9 percent of Ford’s assets, and the foundation says it will take 10 years to allocate that money.

In contrast, McKnight, which has assets of about $2.3 billion, has already committed $187 million to what it calls high-impact investments, intended to further the foundation’s mission to protect the environment and promote social change. Another $637 million is invested in broad-based funds that are in harmony with the foundation’s overall mission and values.

Photo courtesy of Sudipto Sarkar.

Source: The Chronicle of Philanthropy (link opens in a new window)

Categories
Environment, Investing
Tags
climate change, impact investing, philanthropy