Climate Change Spurs McKnight to Go Big on Impact Investing
Thursday, January 10, 2019
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.