California Endowment goes all-in on impact investing

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

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Feb 23, 2024

10 months ago

The California Endowment is committing to invest its $4 billion toward its mission and values, “using our mandate and power as an institutional investor to stand with the communities we serve and to contribute to a more inclusive brand of capitalism.”

It is believed to be the largest foundation to date to make such a commitment to impact investing.

Since it was launched, the endowment has screened out investments — such as tobacco companies, for-profit prisons and firearms markers — that don’t align with its mission and its commitment to racial equity, healing and wellness.

As a test, the endowment’s board initially set aside $350 million for such a mission. The success of that initiative led it to make this commitment.

“We believe that by holding ourselves accountable and by sharing our ‘lessons learned’ from the journey, we will have greater impact in reanimating and fulfilling the promise of America, to reshape new markets for society and to give agency and belonging to all,” said foundation President Robert K. Ross, board Chair Kurt Chilcott and finance committee Chair Leslie B. Kautz.

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.