By: Sonal Shah
Dear Colleagues and Friends:
It is my pleasure and honor to announce the Beeck Center’s leadership in today’s successful Climate Summit announcing more than $4 Billion in private sector commitments to scale up investment in clean energy solutions. These commitments demonstrate the growing appeal of impact investing for large-scale capital, and a new potential to drive change. Vice President Biden will announce this landmark effort at today’s Clean Energy Investment Summit, hosted by the White House. I will be moderating a panel focusing on the role of philanthropy in investing in new technologies and business models.
Today’s policy announcements demonstrate a real commitment to helping new businesses more effectively access and use capital to scale climate solutions. These announcements build upon the momentum from last year’s G7 Task Force on impact investing — in which the Beeck Center at Georgetown played a leading role. Last year, the Beeck Center led international development efforts to design and drive key policy changes to boost global investment in impact, as set forth in the US National Advisory Board’s report Private Capital, Public Good. The private sector is an important partner in solving our world’s greatest social and environmental challenges, and that innovative policymaking such as we see in today’s announcements will help catalyze and promote those solutions at scale.
This summit is a clear example of how transformative systems change is possible when capital works hand-in-hand with innovative and catalytic policies. We are proud to have a role in supporting today’s significant federal policy progress and powerful private sector engagement. Across a wide range of issues, from Pay for Success (such as Social Impact Bonds, to outcomes based policy, ) to changes in the ways philanthropies and institutional investors can deploy capital to achieve long-term social and environmental progress, the administration and congress are taking the recommendations for the US National Advisory Board on Impact Investing and building them into lasting and meaningful policy change.
Taken together, today’s policy changes mark significant progress toward a future in which the public and private sectors work seamlessly together to solve our nation’s greatest challenges. We are thrilled to support today’s announcements and for the opportunity to show how private capital can and is having impact.
We hope that you can join us today by tuning into the live stream of the event, beginning at 9:30 a.m. today and concluding at 1 p.m. – www.whitehouse.gov/live. And as always, contribute to today’s conversation using the hashtag #ActOnClimate.
Join us in congratulating the administration on this exciting achievement!
Onward and upward,
Executive Director | Beeck Center for Social Impact + Innovation