More than 20 private-sector investors have committed to $1.5-billion in new investments designed to deliver positive social and environmental impact, in addition to profit, according to the White House.
The pledges came out of a roundtable on impact investing hosted today by the White House. They include a commitment from Prudential Financial to create a $1-billion impact-investing portfolio by 2020 to promote financial and social mobility, and promises from the McKnight Foundation and the Rockefeller Brothers Fund to dedicate 10 percent of their endowment assets to impact investments.
In addition, the John D. and Catherine T. MacArthur Foundation pledged investments meant to expand energy efficiency, and the Ford Foundation said it will invest in economic mobility.
Among the other participants are The Wallace Global Fund, the Omidyar Network, and the Nathan Cummings Foundation.