TIIP - The Investment Integration Project

?? That’s a wrap on Season 4, Episode 10 of Columbia | SIPA’s #SystemLevelInvesting course! This week, Jon Lukomnik, Abha Nirula and I switched things up! All semester, our students have been diving into what it takes to put a system-level focus into practice. We’ve tackled topics like mapping system stress points, making a case for why investors should look beyond portfolio-level concerns, enhancing MPT to bridge that gap, using advanced system-level tools, and figuring out how to measure real progress at the system level. For our latest class, we invited a few first-mover investors who are already designing and implementing system-level investing programs: Adam Kanzer (BNP Paribas Asset Management), Edgar Romney (Amalgamated Bank), Rekha Vaitla (CalSTRS), and Jimmy Yan (Office of the New York City Comptroller). They shared some amazing insights and hard-earned lessons, giving our students a glimpse of what it takes to invest at the system level. Curious about what we're discussing? DM me or Jon to drop in on a session! And if you’re looking to dive deeper, check out Sustainable Investing Research Initiative (SIRI) executive education programs: the?Sustainable Finance Stewardship Academy?(SFSA) and the?Sustainable Business Stewardship Academy?(SBSA). The next program kicks off from February 4 to March 15, 2025. Apply now! For details and to apply, see below: Sustainable?Finance?Stewardship?Academy?(SFSA) - https://lnkd.in/eea9gaM8 Sustainable?Business?Stewardship?Academy?(SBSA) - https://lnkd.in/ee6fDBFb Copying in the rest of the TIIP and SIRI brain trust: Noel Pacarro Brown, CIMA?, CPWA?, Kieron Boyle, Robert Eccles, Kirsty Jenkinson, Yuko Koshiba, Renaye Manley, MBA, Meredith Miller, Kilian Moote, Monique Aiken, Jessica Ziegler, Laura Wells, Caroline Flammer, Chandana Yelkur, Dylan Minor, PhD MS

NEW! CFA Institute Research and Policy Center has convened net-zero thought leaders and investment luminaries to break down the big ideas around #netzero and provide practical guidance for investors, asset managers, investment professionals, and regulators.?More than 50 authors?from the United States, Europe, and Asia collaborated on 16 research projects. Today, we published the first papers - future papers will be coming every 2 weeks through January 2025. Learn more about the net-zero guide: https://lnkd.in/emvwrEJw Christopher Fidler, Jon Lukomnik, William Burckart, Raul Leote de Carvalho, Jane Ambachtsheer, Alex Bernhardt, Thibaud Clisson, Henry Morgan, Guillaume Kovarcik, Francois Soupe

In a new piece for ImpactAlpha on “Charting the path forward for responsible and impact investing with a systems lens,” I share a few reflections from my experience at this year’s annual #PRIinPerson conference in Toronto, hosted by Principles for Responsible Investment. From the article: “The path forward for responsible, sustainable, and impact investing may be as complex as the challenges we face. Among investors at this year’s PRI in Person conference in Toronto, there was a growing recognition that system-level solutions offer our best chance at addressing interconnected crises such as climate and inequality….” Read more in the link below. Big thank you to David Bank and Dennis Price! Attending the The Global Impact Investing Network's Impact Forum this week in Amsterdam? I’ll join Melissa Bradley of 1863? Ventures, Brianna Losoya-Evora of Sweef Capital Management Pte, and Hetal Damani of Trill Impact tomorrow for the panel on “Measuring Impacts of Investments in Historically Marginalized Communities.” During the panel, I'll discuss how TIIP - The Investment Integration Project thinks about evaluating system-level progress, particularly in the context of addressing LGBTQIA+ inequity. I’ll also give a sneak peek at TIIP’s work on the?Federal Reserve Bank of New York’s Making Missing Markets Initiative. The initiative is focused on: 1) connecting new sources of capital to community needs; 2) scaling existing sources of capital that meet a community need; and 3) connecting previously unlinked buyers and sellers. Want to learn more about the initiative and get involved in the system-level investing design team? DM me here or drop me an email, and register for the in-person event in New York on Nov 14: https://lnkd.in/gDBzMu4b. Ccing: David Erickson, Otho Kerr, Nathan Fabian, Cambria Allen Ratzlaff, Laura Weeks, Will Sullivan, Monique Aiken, Jessica Ziegler, Melissa Eng, Laura Wells, Noel Pacarro Brown, CIMA?, CPWA?, Kieron Boyle, Robert Eccles, Kirsty Jenkinson, Yuko Koshiba, Jon Lukomnik, Renaye Manley, MBA, Meredith Miller, Kilian Moote, and Caroline Flammer https://lnkd.in/g9vtvPzu

S4:E6 of the graduate course on #SystemLevelInvesting at Columbia | SIPA is a wrap! For this sixth class of the course, Jon Lukomnik and I focused on the investment enhancement?techniques of system-level investing that leverage firm resources across the investment process—investment policy and belief statements, investment strategy documentation, security selection and portfolio construction, engagement and activism, themed and targeted investments, and manager selection and monitoring—to exert influence on system dynamics. As guest speaker Anna Snider (Head of Investment Selection, Chief Investment Office, Global Wealth and Investment Management, Bank of America) helped to demonstrate, investment enhancement techniques use conventional?investment activities to advance system-level goals (see the graphic for more details).?This includes: ?? Establishing standards that discourage investments in?corporations, industries and countries with practices that violate broadly?accepted standards or norms; ?? Pursuing investments that?can solve social and environmental challenges in ways that support the?stability and enhancement of broader social, environmental, and financial?systems; and ?? Simultaneously utilizing a range of investment tools?to comprehensively address complex systemic environmental and social?concerns. Want to drop in on a class to see what all the fuss is about? DM me or Jon for details. Jon, Abha Nirula and I will be joined next by Ibrahim Rashid, MPP (Co-lead, Sustainable Investing Group,?Marquette Associates). During this one, we’ll be exploring opportunity generation techniques that help to change what investors invest in. Copying the rest of the TIIP - The Investment Integration Project brain trust: Noel Pacarro Brown, CIMA?, CPWA?, Kieron Boyle, Robert Eccles, Kirsty Jenkinson, Yuko Koshiba, Renaye Manley, MBA, Meredith Miller, Kilian Moote, Monique Aiken, Jessica Ziegler, Melissa Eng and Laura Wells. #impactinvesting #sustainableinvesting

We are thrilled to announce that the Predistribution Initiative September newsletter has been released earlier today! This edition is packed with updates from Climate Week NYC, including tomorrow's launch webinar for the Taskforce on Inequality and Social-related Financial Disclosures (TISFD), where PDI has been actively contributing as a founding Working Group member. Be sure to check out the newsletter for details on upcoming events, thought leadership, and how PDI is helping redefine risk, return, and value in investment practices. ?? Click the link below to read the newsletter and stay connected with our latest initiatives. https://lnkd.in/grkvx4Hv Thank you for your continued partnership and support! Principles for Responsible Investment TIIP - The Investment Integration Project Taskforce on Inequality and Social-related Financial Disclosures (TISFD)Accelerator for Systemic Risk Assessment (ASRA)Capitals CoalitionCOP16 ColombiaThe Aspen InstituteThe Bridgespan Group Gary Community VenturesThe Ownership Economy #PredistributionInitiative #TISFD #SustainableFinance #ClimateWeekNYC #Inequality

?? On September 8th at 6pm ET, concerned citizens in the impact economy - which includes anyone working to make the world a better place - are hosting a virtual rally and fundraiser for an inspirational moment of solidarity in support of democracy, "the freedom that unlocks all others". ?? Our goal is to mobilize voters for Kamala Harris and Tim Walz and create a blue wave down the ballot. ?? See you there? ? Register here https://lnkd.in/eDguYiws or use the QR code in the image below. #Solidarity #impinv #HarrisWalz #kamala #democracy #EmancipateTheVote #ImpactEconomy

We're pleased to share a new piece out today in ImpactAlpha on "Mitigating the systemic risk of anti-LGBTQ+ sentiment in investing." The article, authored by Colorful Capital Co-GP William Burckart, provides a snapshot into The White House convening last month, which gathered for the first time a group of venture capital investors, industry associations, and entrepreneurs for a dedicated discussion on the state of capital allocation to #LGBTQ+ led and focused funds and startups. Organized by?Patrick Driscoll, a leading investor and advocate for LGBTQ+ equity, the goal was to educate public sector leaders on the barriers that LGBTQ+ fund managers and startup founders face and provide actionable recommendations to improve the flow of capital. From the article: "All of these policies and practices have tremendous effects on our economy and financial system. We see income disparities, workplace discrimination, lack of corporate leadership, criminal justice and persecution, disparities in healthcare, education, and treatment of LGBTQ+ youth, and lack of housing and retirement support. These issues drain resources, while also preventing LGBTQ+ individuals from fully participating in the economy." [In reference to the deluge of anti-LGBTQ+ bills being introduced at the state level throughout the US.] "The exclusion of LGBTQ+ individuals from our economy, and specifically, the investing space, is what is known as a “systemic risk.” Most investors believe markets are objective and efficient in pursuit of returns. Yet the market fails to account for the true level of systemic risk arising from continued inequitable treatment of and barriers for the LGBTQ+ community." The event inspired a range of challenges, opportunities, and breakthroughs needed going forward, but one clear call to action that emerged from the meeting is the opportunity for the U.S. Securities and Exchange Commission to replicate or adapt SEC’s Asset Management Advisory Committee's subcommittee focused on gender and racial diversity. Creating a similar subcommittee within the SEC to focus on LGBTQ+ issues, or expanding the scope of the existing subcommittee to explicitly encompass LGBTQ+ individuals could help to mitigate the risk of LGBTQ+ exclusion within the market and futureproof progress. Read the ImpactAlpha article here: https://lnkd.in/emVcdAuV For more, check out Colorful Capital's recent report co-authored by William and Lloyd He, with an introduction by M.V. Lee Badgett on "Outsized Impact: How Investment Can Address the Systemic Risk of LGBTQIA+ Inequity": https://lnkd.in/ggxWUP5f Copying in the Colorful Capital brain trust: Co-GPs Megan Kashner and Soltan B., and Advisory Group members Sloane Ortel, Zach Stafford, Steven Godeke, Otho Kerr, Priya Parrish, Katrina Ngo, Christopher Barrett Politan, Lara Metcalf, Carlos Vargas #impactinvesting #VC #venturecapital