On Day 2, in addition to continuing to explore strategies and emerging opportunities across asset classes and sectors, Total Impact Boston featured key Boston stakeholders, local impact success stories, and innovative place-based opportunities.
The importance of developing strong local ecosystems and fostering cross-sector collaboration was reiterated time and again over the day. Katherine Collins, Head of Sustainable Investments at Putnam Investments, said it best, “Impact in isolation is an oxymoron.”
What we heard:
“I feel a kinship to philanthropy and deploying capital more creatively and powerfully. Philanthropic money was used to address symptoms of problems. However, now we can instigate systemic change and reach underlying urban problems.” – Paul Grogan, President and CEO, The Boston Foundation
“There’s extraordinary inequalities in Boston – the net worth for white families is $247,500 as opposed to $8 for black families. We need to reach ordinary folks without access to assets.” – Deborah Frieze, Founder and President, Boston Impact Initiative
“To me, impact investing means the lab where capitalists work to reform capitalism. My hope is for discussions and debates to be communicated to the larger economies. Together, we can show the way to what is possible.” – Warren Valdmanis, Managing Director, Bain Capital Double Impact
“Gender lens investing is not small, soft, or pink. It’s intentionally incorporating gender-based factors in investment analysis and/or engagement analysis into your investment equation, with the goal to find better risk-adjusted returns or driving gender equality in different areas. It’s not just about women entrepreneurs or concessionary finance – the role of patient capital and capital willing to take more risk is essential in the gender lens space.” – Jackie VanderBrug, Managing Director and Investment Strategist, Global Wealth and Investment Management, Bank of America
“It’s not either/or, it’s both! To improve outcomes, we need long term breakthrough research and company-building in addition to focusing on last mile service innovations for the hardest to serve.” – Katie Rae, CEO and Managing Partner, The Engine