PayPal, GIIN, Visa Partner on Impact Investing

A newly-launched initiative aims to link corporations’ money and know-how with impact investing practices to make it easier to meet environmental and social assurances as well as shareholder and business objectives.

The corporate impact investing initiative is being launched by PayPal and the Global Impact Investing Network (GIIN), along with the Telus Pollinator Fund for Good and the Visa Foundation, according to a Thursday (Sept. 22) press release.

By connecting company leaders with a new set of tools and resources, the corporate impact investing initiative aims to help companies better deliver on environmental and social commitments. The group has issued an open invitation to companies to engage and contribute.

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“Leveraging corporate treasury for impact investing is a strategic way for corporations to align shareholder and community interests,” PayPal Acting Chief Financial Officer and SVP, Capital Markets, Investor Relations and Treasurer Gabrielle Rabinovitch said in the press release.

“Over the last two years, we expanded our impact investing capabilities, and as a result, we were able to allocate $400 million in treasury investments toward closing the racial wealth gap in the United States and committed an additional $100 million toward global gender equality, Rabinovitch added.

The GIIN Initiative helps corporations get involved with impact investing using their own financial assets and capabilities. Those interested can share insights and help develop resources and tools as part of a multi-year effort.

Read more: JP Morgan: Rapid Digitization And A New Focus On ESG Considerations

From there, GIIN and interested corporations will assess the results of using impact investing vehicles and partnerships to satisfy corporate environmental and social objectives. They will then collaborate to produce a landscape report, according to the release.

“This initiative is an important lever to help unlock much-needed capital and technical skills that are currently sitting on the sidelines,” GIIN CEO and Co-founder Amit Bouri said in the release.

“Corporations are critical to scaling the most promising solutions for the pressing challenges in our local communities and around the world. By working with impact investors, companies can discover new possibilities to help build a sustainable, just, and inclusive future.”

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