The impact investing sector has been growing at a rapid pace. Investors increasingly seek opportunities to make a social and environmental difference through their investment portfolios. With $228 billion invested towards impact activities in 2017, the industry has come a long way.
Calvert Impact Capital (CIC) said it is working to build a more equitable financial system through investments in its portfolio and by sharing its expertise with investors and borrowers. The company’s 2018 Impact Report shows how CIC is striving to strengthen communities and helping improve global sustainability through its business.
In 2017, Calvert Impact Capital provided flexible financing to support the development of 1,488 community facilities serving more than 8.5 million community members across the country. These facilities span 3.5 million sq. ft. and are worth $1.12 billion.
The borrowers using CIC’s capital helped create or preserve 32,669 affordable homes across the U.S. in 2017. The borrowers also counseled 30,669 clients on housing, preparing them for home ownership and creating more empowered and informed homeowners.
Calvert claimed that it had a role in helping to finance 3,327 affordable, quality schools that enrolled 2,248,871 children in 2017. The schools operational in 2017 employed 78,283 teachers and financed a total of 15,227 new student seats.
In 2017, CIC took part in financing 308 medical facilities that addressed the needs of over 5 million patients across the US and other parts of the world. These healthcare facilities provide affordable care, while at the same time, create job opportunities for trained healthcare professionals.
Calvert Impact Capital is investing in microfinance networks and institutions that offer innovative insurance, credit, savings, and other financial products, apart from financial education and payment platforms. CIC’s borrowers in 2017 disbursed microloans of $1,735 on average to 12 million individuals, 76 percent of which reached low-income individuals.
CIC lends to financial intermediaries involved in financing small business owners to help them grow their businesses. The results, according to the company, helps create new jobs in local communities and generates economic opportunity. The company’s capital in 2017 helped to finance nearly 6,000 small businesses, and supported the creation or retention of over a 100,000 jobs globally.
According to the company’s report, during 2017, Calvert’s borrowers recycled over 91,000 tons of waste. This helped to reduce more than 260,000 metric tons of carbon dioxide. The company’s capital also helped reduce more than six million tons of CO2 or CO2 equivalent through the deployment of renewable energy. Renewable energy products sold by the company’s borrowers will generate clean energy that is enough to power 4,475 homes for one year.
Calvert Impact Capital invested in projects in 2017 that the company said had a role in connecting farmers to better economic opportunities. The company’s borrowers supported 721,864 smallholder farmers and 45 agricultural groups worldwide.
“Our industry often focuses on the outputs of impact investments as the sole indicators of success. But they are not the full picture,” said Jenn Pryce, President and CEO. “In order to achieve those outputs, and importantly, to scale them, we need a functioning market between interested investors and mission-driven asset managers,” she said.
Image credit: Calvert Impact Capital
Vikas is an MBA with 25 years of managerial and entrepreneurial experience. He is the author of “The Power of Money” (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas runs a digital content development company, and personally loves to write on global sustainability issues.