Non-profit

Calvert Impact Capital

Formation:

1995

Type:

Non-profit investment company

Calvert Impact Capital is a non-profit investment company under the umbrella of left-leaning for-profit investment firm Calvert Research and Management. [1] Founded as Calvert Social Investment in 1995, Calvert Impact Capital’s profits are turned into loans to community-based left-leaning environmentalist, ethnic-interest, and other organizations. [2][3]

Activism

Calvert Impact Capital borrowers engaged with over 538,000 organizations which themselves engaged with over 41 million people in 2018; Calvert’s loans were used in 103 countries. [4]

Calvert claims an investor total of 18,000 people and reported giving $2 billion to organizations which work to accomplish Calvert’s goals. [5] Most of Calvert’s money goes to environmental, gender equality, and anti-poverty efforts. Sixty percent of those who receive Calvert’s money downstream are women. [6]

Many recipients of Calvert’s loans and investments are not overtly political or advocacy-oriented;[7] the Baltimore-based Monarch Academy Charter School received an investment because 82 percent of its students receive free or reduced-price lunch. [8] However, other investments, such as greater energy resources for Africans, include left-leaning prioritization of how to accomplish specific goals. Calvert has invested millions of dollars in a solar energy start-up since 2016 instead of investing in more plentiful energy resources such as oil or natural gas. [9]

Calvert’s 2017-2019 growth strategy included, but was not limited to, expanding its thought leadership in the impact capital industry as well as creating infrastructure between investors and downstream recipients of investor capital. [10]

Leadership

Jennifer Price is Calvert Impact Capital’s CEO. Prior to taking the role in 2013, she was chief strategy officer. [11]

Former World Bank senior financial officer Derek Strocher is Calvert’s chief investment officer. [12]

Beth Bafford is vice president of syndications and strategy. She was an Obama campaign field director in 2008 and worked in the Obama administration’s Office of Management and Budget before going into the financial field with the international business and government consultancy McKinsey. [13]

Justin Conway leads investment partnerships for Calvert. He is a longtime environmentalist and left-leaning investor activist. [14]

References

  1. Calvert Impact Capital, About, Accessed December 8, 2019. https://www.calvertimpactcapital.org/about ^
  2. Calvert Impact Capital, 2019 Impact Report, Accessed December 8, 2019. https://www.calvertimpactcapital.org/2019-impact-report#portfolio ^
  3. Calvert Impact Capital, Portfolio List, Accessed December 8, 2019. https://www.calvertimpactcapital.org/portfolio/list ^
  4. Calvert Impact Capital, 2018 Impact Report, Accessed December 8, 2019. https://www.calvertimpactcapital.org/2018-impact-report#communities ^
  5. Calvert Impact Capital, About, Accessed December 8, 2019. https://www.calvertimpactcapital.org/about ^
  6. Calvert Impact Capital, 2019 Impact Report, Accessed December 8, 2019. https://www.calvertimpactcapital.org/2019-impact-report#gender ^
  7. Calvert Impact Capital, Portfolio List, Accessed December 8, 2019. https://www.calvertimpactcapital.org/portfolio/list ^
  8. Calvert Impact Capital, Monarch Academy Charter School, Accessed December 8, 2019. https://www.calvertimpactcapital.org/portfolio/list/tcg-leverage-lender-llc-monarch-academy-charter-school ^
  9. Calvert Impact Capital, Solar Empowerment Fund II, Accessed December 8, 2019. https://www.calvertimpactcapital.org/portfolio/list/solar-empowerment-fund-ii-llc ^
  10. Calvert Impact Capital, 2017-2019 Strategic Plan, Accessed December 8, 2019. https://www.calvertimpactcapital.org/storage/documents/calvert-impact-capital-2017-2019-strategic-plan.pdf ^
  11. LinkedIn, Jennifer Pryce profile, Accessed December 8, 2019. https://www.linkedin.com/in/jennifer-pryce-71456936/ ^
  12. LinkedIn, Derek Strocher profile, Accessed December 8, 2019. https://www.linkedin.com/in/derek-strocher-57a640/ ^
  13. LinkedIn, Beth Bafford profile, Accessed December 8, 2019. https://www.linkedin.com/in/bethbafford/ ^
  14. LinkedIn, Justin Conway, Accessed December 8, 2019. https://www.linkedin.com/in/conwayjm/ ^
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