Last month, on May 7-8, worker justice organizations, funders, investors, experts and field-builders who are committed to improving the lives of low-wage workers across the country joined us at the Rockefeller Foundation for the first in-person session of the 2019 Transform Finance Cohort: The Future of Workers is Now. The Cohort brings together six prominent labor organizations to learn about key financial actors and their potential leverage points to develop creative capital tactics for worker justice. After two days together, several themes materialized that shed light on key considerations for the intersection of finance and worker justice…Read More
Transitions within the community wealth building sector! Emily Sladek has joined the team at Transform Finance as Lead Project Researcher for Capital and Equitable Communities.
Emily has been the Manager for Higher Education Engagement, leading the national Anchor Learning Network of higher education anchor institutions at The Democracy Collaborative. Over the last three and half years, Emily has been an invaluable thought leader on community wealth building and provided critical expertise to increase the capacity of higher education institutions to equitably align their assets with local communities.Read More
We are excited and honored to announce the six organizations that will join us for the 2019 Transform Finance Cohort: The Future of Workers is Now! The Cohort will bring together worker justice organizations to explore and integrate a "capital flank" to their existent strategies and goals. Over the course of nine months, the six organizations will take part in in-person convenings and virtual gatherings to learn about key financial actors and their leverage points; right-size potential engagements with capital for their work; and develop partnerships and paths forward for integration and implementation.Read More
Transform Finance’s racial justice project seeks to understand, analyze, and offer actionable insights for investors exploring how racial justice outcomes are affected by their capital allocations across asset classes. The project highlights in particular the ways in which seemingly race-neutral investments often have disparately negative and non-obvious racialized outcomes. If you care about racial justice, what should you know about how it shows up in your investments?
To further explore this question, Transform Finance convened a group of investors ranging from institutional asset owners to advisors and foundations for an afternoon of exploration at the Rockefeller Foundation on December 18.Read More
From the CEO’s of Unilever and Blackrock to Elizabeth Warren, everyone seems to be taking a crack at fixing capitalism these days. Each has their preferred adjective to describe what capitalism should become in the 21st century: Conscious Capitalism, Stakeholder Capitalism, Accountable Capitalism, Sustainable Capitalism and more.
What all these voices have in common is the understanding that the incumbent Shareholder Capitalism model is untenable. Pursuing shareholder returns while ignoring long term impacts on people and planet has been a leading contributor to environmental degradation and climate change, as well as to extreme income and wealth inequalityRead More
At this year’s SOCAP, Transform Finance held an entire track on Alternative Ownership. In the context of the need for impact investors to critically question their positioning in relation with communities and entrepreneurs, these ownership models - Employee Ownership, Steward Ownership, Self-Diluting Equity, and more – provide options that properly balance risk among all stakeholders. In this blog post, we cover reflections from the week.Read More
The Transform Finance Institute for Social Justice Leaders – Transform Finance’s flagship training at the intersection of capital and social justice – announced in 2018 a new initiative to bring localized versions to six communities across the United States. Following a selection process among more than 20 cities that applied, Transform Finance is excited to announce that the first three local Institutes will take place in Atlanta, Cincinnati, and Phoenix.Read More
In February 2018, the Aspen Institute's Center for Urban Innovation hosted a day-long workshop in Detroit around Venture Capital's approach to equity and inclusion. Transform Finance Executive Director Andrea Armeni attended this workshop, for which CUI has just released a concise summary of the day's conclusions.Read More
Last week, Transform Finance attended CommonBound 2018, the New Economy Coalition’s biennial gathering.
The conversations ranged from inspiring to introspective to saddening, and the need for developing radical alternatives to business as usual stuck out clearer than ever. With the political situation getting more grim by the day, families being displaced and torn apart, and the primacy of shareholders and investors remaining fundamentally unquestioned, conference participants brought a sense of urgency to the table.Read More
Transform Finance’s work on racial justice and finance explores the intersection of capital with the needs of the racial justice movement. As holders of capital, foundations committed to racial justice in their programmatic work, in particular, are increasingly inquiring into how to align their endowments in furtherance of racial justice.
But how exactly does race manifest in finance, and how can the effects of capital allocations be shifted to favor racial justice?
This was the theme of a dinner conversation that Transform Finance hosted for participants at Mission Investors Exchange’s 2018 Mission Forward Conference, the premier event for the leadership role for philanthropy in impact investing.Read More
Robots and their artificial intelligence brethren are not coming for our (human) jobs, if you ask Heidi Shierholz, former Chief Economist at the Department of Labor. Shierholz, now at the Economic Policy Institute, was a keynote speaker at The Future of Capitalism and the Future of Work, a one-day conference hosted by the Murphy Institute last Friday.Read More
The most recent Transform Finance Investor Network webinar, hosted in conjunction with Fran Seegull and John Cochrane from the U.S. Impact Investing Alliance and Rachel Reilly Carroll from Enterprise Community Partners, focused on a new development in tax law and investments in low-income communities: Opportunity Zones. Opportunity Zones are designated low-income areas eligible for investments with deferred or exempt capital gains taxes under the 2017 tax bill. Although it is a new policy, investors across the impact spectrum are keen on participating and discussing its implications – and the potential warning signs.Read More
Last week, Transform Finance Executive Director Andrea Armeni attended a workshop in Uppsala, Sweden on financing the SDGs. As part of UN DOCO's efforts to drive private capital towards fulfilling the Sustainable Development Goals, this workshop featured a mix of advisors, private sector actors, and UN Officials from Armenia, Kenya, Indonesia, Jordan, and Colombia. The two-day workshop was hosted by the Dag Hammarskjöld Foundation.Read More
In this interview, Transform Finance Executive Director Andrea Armeni speaks about the work of the organization, the need to keep actors accountable to the communities they serve, and other major trends in impact investing. The podcast can be streamed online here or on your podcast streaming platform of choice.Read More
Transform Finance Board Member and Managing Director at Candide Group, Aner Ben-Ami, writes about the inherent flaws of venture capital funding. This approach does not only harm founders, workers and communities, it can also be a poor model for investors. More alternative economic structures need to be created that allow for more equitable distribution of value and wealth. Will Zebra Funds come to the rescue?Read More
For good or bad, what a year it's been, as more crises mean an ever stronger commitment to our work. We have grown our Investor Network to over $2 billion in capital committed to social justice, brought over 30 organizations together for our Institute for Social Justice Leaders in NYC, and begun seminal projects on racial justice in finance and broad-based asset ownership. Thank you for supporting us throughout these milestones and being our partners.Read More