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Spotlight on Investors: California Wellness Foundation
1-Mar-2021 9:53:35 AM
The California Wellness Foundation was established in 1990, when HealthNet, one of the state's largest health care and insurance providers, converted from non-profit to for-profit status. The foundation now aims to protect and improve the health and wellness of the people of California by increasing access to health care, quality education, good jobs, health environments and safe neighbourhoods.
In 2017, the California Wellness Foundation started to align their investments with their mission and vision. Since then, they have allocated $US 48 million to mission-related investments that provide resources and capital to underserved communities. The foundation’s mission-related investments integrate environmental, social and governance considerations and actively exclude companies causing the greatest harm to underserved communities. Moreover, the California Wellness Foundation committed to invest $US 10 million in program-related investments that target affordable housing or small business lending over the next five years.
