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Impact News Roundup - October 2022

Welcome the new monthly North America Impact News Roundup, where Oikocredit Canada and Oikocredit US track the progress and challenges in building the impact investing industry. We are dedicated to keeping our stakeholders informed and that starts here. Subscribe to our newsletter today!

 

Clean Energy Action Shifts to Industrial Pittsburgh


The U.S. Department of Energy’s first Global Clean Energy Action Forum was held in Pittsburgh, in conjunction with the International Energy Agency’s 2022 Clean Energy Ministerial meeting. Around 4,000 attendees from 35 countries were in attendance.


“The city [Pittsburgh] exemplifies how a legacy energy and industrial-dependent economy can be transformed into a technology and innovation powerhouse.”


 

Canadian CEOs Aim to Achieve Sustainability


This informative article by KPMG Canada does a deep dive into the challenges Canadian CEOs face when integrating ESG (environmental, social, and corporate governance) practices into their business models. Despite the challenges, 91% of Canadian CEOs are willing to divest from profitable activities that have a negative social or environmental impact in favor of improved sustainability practices.



 

Patagonia Founder Is Giving Away Company to Protect Climate


Yvon Chouinard, founder of the outdoor apparel maker Patagonia, is giving away his company to a trust and a nonprofit. The eccentric rock climber turned billionaire had not been driven by such financial success. Instead, Mr. Chouinard’s love for the outdoors and the environment inspired him to make the decision to give back.


“[A special trust and nonprofit organization] were created to preserve the company’s independence and ensure that all of its profits — some $100 million a year — are used to combat climate change and protect undeveloped land around the globe.”


 

Alignment: Morgan Simon is Breaking Stereotypes


On this month’s episode of “Alignment: Using Your Values to Invest in Social Change,” Oikocredit US CEO Matt Eldridge sat down with Morgan Simon, an advisor to families and foundations, to discuss how she and Candide Group are redefining and revolutionizing impact investing.



 

Bridging Africa’s Climate Finance Gap


According to the chief economist at the African Development Bank (AfDB), the continent is losing up to 15% of its per capita economic growth due to climate change. Mahmoud Mohieldin, is the UN’s high-level climate champion for Egypt. He has expressed his concern over an unfulfilled pledge made in 2009 by rich nations to deliver $100 billion each year to developing countries, which will expire in 2025.


 

SOCAP Spotlight: Using ESG for Good, Not for Evil


SOCAP will be convening in person this year for the first time since the pandemic. Rehana Nathoo from ImpactAlpha will take part in a session entitled “Greenwashers Beware: Using ESG for Good, not for Evil.”


“Together we hope to offer our own experiences using, integrating and improving ESG analysis so we can collectively stop the greenwashers and naysayers in their tracks.”


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