The McKnight Foundation was established in 1953 by William L. McKnight, ex-CEO of 3M. Today, the family foundation seeks to enhance the quality of life for present and future generations in the Minnesota area and beyond. In 2013, the McKnight foundation decided to invest in impact strategies and mission related investments, in addition to its grant-making program. As of Q4 2018, the foundation was investing a third of its $2.3 billion endowment in strategies aligned with its values.
The McKnight foundation's impact investing strategy requires alignment with three of the grant-making program's goals: transition to a low carbon economy, reducing agricultural pollution in the Mississippi River, and contributing to a thriving and sustainable Minnesota. Their investment portfolio is composed of a High-Impact Investments portfolio which includes program-related investments, direct private debt and equity deals, and an aligned investment portfolio which is invested in public equities and bonds.
IPE: The €2bn pension fund of Dutch financial regulator De Nederlandsche Bank (DNB) plans to fine-tune its policy on responsible investment, aiming for an investment portfolio with a 30% outperformance on ESG.
The Phnom Penh Post: Financial institutions in Cambodia are joining in efforts to strengthen sustainable and responsible finance, according to Oxfam in Cambodia. The goal is to achieve the UN Sustainable Development Goals (SDGs) and inclusive economic development.
Bloomberg: KKR & Co. exceeded the $1 billion fundraising goal for its first Global Impact Fund, according to a person with knowledge of the matter.
Investment Europe: A study by Witold J. Henisz and James McGlinch of the University of Pennsylvania's Wharton School, published in the spring issue of Applied Corporate Finance, has suggested a connection between ESG performance and credit risk.
Bloomberg: Earlier this year, one of Meryam Omi’s deputies at Legal & General Investment Management sat down with board members and managers from Exxon Mobil Corp. to discuss how the oil giant could address climate change. LGIM, which manages about $1.3 trillion, is one of Exxon’s top 20 shareholders.
Institutional Investor: Limited partners are increasingly putting pressure on alternatives managers to improve the diversity of their firms. But recent hiring for marketing and fundraising roles, at least, suggests that these firms still have a long way to go.
Top 1000 Funds: For more than 50 years, intensively reared animals have been the main source of protein for consumers worldwide, and a major ingredient for multi-billion-dollar brands like Burger King, McDonald’s and KFC.
Reuters: Asset managers are increasingly making sustainable investment decisions that reflect their own corporate values and those of their investors, but are still under pressure to deliver competitive returns as the market continues to develop and implement environmentally friendly principles.
Investment News: If the evolving language inside mutual fund prospectuses is a guide, financial advisers should brace for an expanding selection of funds focused on environmental, social and corporate governance issues.