This new impact investing initiative aims to tackle Canada’s most pressing challenges. What’s their plan?
Why It Matters
The aftermath of COVID-19, along with ongoing systemic racism, will require hefty investments in everything from public health to community economic development. Impact investment is one way to do that, but some leaders say there isn’t a lot of coordination among investors themselves.
Impact United, a new initiative backed by ten major Canadian organizations, is promising to guide billions of dollars worth of impact investments towards causes as diverse as climate action, housing affordability, and racial equity.
The initiative brings together foundations like the Inspirit Foundation and WES Mariam Assefa Fund, investors like finance cooperative Vancity, and even the Canada Mortgage and Housing Corporation to bridge a gap between prospective impact investors and investment opportunities. A statement announcing Impact United’s debut says current and prospective impact investors capable of tackling Canada’s most pressing challenges are disconnected from one another and uncoordinated in their approaches.
Despite its lofty vision of mobilizing billions in capital, the initiative is still very much a work in progress. It does not yet have a set ta
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