Reorienting Health Care and Business Sector Investment Priorities Toward Health and Well-Being Proceedings of a Workshop (2022) / Chapter Skim
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4 Evolving Values and Priorities Among Business Investors
4 Evolving Values and Priorities Among Business Investors
Pages 19-26
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From page 19... ...
USING CAPITAL TO DRIVE CHANGE In 1968, the Ford Foundation originated the use of "program-related investments" for charitable purposes, Richter said, because it believed that grants they had made to organizations in low-income communities were not leading to improved conditions in those communities. She suggested this was one of the first examples of values beginning to change among business investors in the United States.
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From page 20... ...
Five decades later, the fields of impact investing, socially responsible investing, or most recently, sustainable and responsible impact investing, have expanded beyond community development to encompass environmental preservation, asset building, education, and the application of technology across education, health, finance, and other sectors. Over the past decade attention has been paid to how these investment tools can be applied to drive improvements in population health, Richter added.
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From page 21... ...
Community Development in Rural Versus Urban Communities Richter asked Jones to comment on the differences between rural communities and urban communities with regard to community development. A key difference, Jones said, is that it can be more difficult to attract investment capital for rural communities due to the relatively low population density.
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From page 22... ...
Since its inception, he said, LISC has partnered with financial institutions, but moving forward, the values and mission of LISC are more strongly aligned with the health sector. LISC has hired staff for a health care team and will work closely with health care partners.
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From page 23... ...
Williams offered pension pools as an example, adding that if they are for food industry workers, the investors would seek alignment with the employees' work. The perspective in shaping the entire assets of an institution goes beyond the philanthropic, and includes attention to asset allocation (e.g., bonds, stocks, private venture)
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From page 24... ...
Richter added that there are health sector funders who are looking at upstream opportunities from housing to small business, who have a people–place–planet focus, who recognize that climate risk is human health risk, and who acknowledge that sectors such as education have a high impact on health later in life, therefore underscoring the importance of investing early in the life course or early in the disease course. Jones commented that LISC partners with investors are helping to develop supermarkets, and engaging in efforts to develop housing, supermarkets, and financing for federally qualified health centers.3 Paula Lantz of the University of Michigan commented on several years of research on pay-for-success financing -- private and third (i.e., philanthropic)
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From page 25... ...
Jones called this "patient" capital, adding that demanders of capital have the opportunity to orient or familiarize those supplying it with the idea that needs to be done over the long term, and thus help bring in new investors. Mary Pittman of the Public Health Institute asked how investors deal with gentrification that displaces people who have lived in a community for a long time.
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