PayPal is partnering with the Global Impact Investing Network (GIIN), the Telus Pollinator Fund and the Visa Foundation to launch a corporate impact investing initiative
The initiative will help companies connect their financial assets and skills with impact investing practices to achieve environmental and social commitments such as the UN Sustainable Development Goals
NEW YORK, September 22, 2022 – Today, PayPal and the Global Impact Investing Network (GIIN), in cooperation with tthe TELUS Pollinator Fund for Good and the Visa Foundation, launched GIIN’s Corporate Impact Investing initiative and openly invited companies to get involved and contribute.
The new initiative aims to help companies better meet their environmental and social goals while meeting shareholder and business goals by connecting business leaders with a range of new tools and resources. With more than $2 trillion owned by US companies alone, companies have tremendous potential to use impact investing and partnerships to address pressing environmental and social needs – such as closing the funding gap for the United Nations Goals for sustainable development – while responding to growing demands from corporate stakeholders to improve lives and livelihoods.
“Using corporate finances for impact investing is a strategic way for companies to align shareholder and community interests,” said Gabrielle Rabinovitch, acting chief financial officer and SVP, capital markets, investor relations and treasurer at PayPal. “Over the past two years, we have expanded our impact investing capabilities and as a result have committed $400 million in Treasury investments to closing racial wealth gaps in the United States and an additional $100 million to global gender equality insert genders. We are delighted to be collaborating with the GIIN on this initiative and sharing insights at a time when society is facing complex challenges that require innovative solutions and sustainable funding.”
By uniting the complementary strengths of companies and impact investors through working groups and research, the GIIN initiative will help support companies to channel their financial assets and capabilities into impact investing. Interested companies are invited to join the multi-year effort by sharing insights and contributing to the development of resources and tools. As part of the initiative, the GIIN and interested companies will work together to produce a landscape report on the use of impact investing vehicles and partnerships as a means to pursue environmental and social corporate goals.
“This initiative is an important lever to free up much-needed capital and technical capabilities that are currently sitting on the sidelines,” said Amit Bouri, CEO and co-founder of the GIIN. “Companies are critical to scaling the most promising solutions to the pressing challenges in our local communities and around the world. By partnering with impact investors, companies can discover new opportunities to help build a sustainable, just and inclusive future. It is exciting to see a corporate movement led by our founding partners PayPal, TELUS Pollinator Fund and Visa Foundation committed to redefining ‘business as usual’ when it comes to corporate investing and wealth management.”
The initiative is a call to action for companies to partner with the GIIN and the impact investing community to explore how collaboration can be used to achieve shared environmental and social goals and drive better outcomes. In addition to channeling capital to address critical issues – such as gender equality, climate change, and racial and wealth inequalities – companies and their leaders bring critical skills and are well-positioned to direct significant new resources to address these challenges and spur innovation in order to increase long-term value and impact.
“The vision behind our CEO’s desire to launch the TELUS Pollinator Fund was to demonstrate the responsibility companies have to generate more than profitable growth while helping build the impact investing ecosystem,” said Blair Miller, Managing Partner, TELUS Pollinator Fund. We firmly believe that the ability to allocate capital as investments and draw on TELUS’ trading and industry experience represents a unique opportunity that can help generate financial and positive returns. We look forward to contributing to this important initiative by engaging and learning from our colleagues at GIIN and other members of this initiative to catalyze change on a scale beyond what we could do alone.”
Interested companies and their executives, including chief financial and investment officers, sustainability officers, treasurers and venture partners, are invited to participate in this multi-year project with the GIIN and its 400-strong member network. To learn more, please visit the GIIN website and sign up.
“Systemic problems like gender and racial inequality and climate change require systemic solutions and capital at scale. Corporations and their foundations can play a critical role in solving these problems by aligning capital with purpose,” said Colleen Ostrowski, senior vice president, treasurer, Visa Inc., and treasurer, Visa Foundation. “The Visa Foundation uses grants and investments to accelerate the local impact of our grantees and investees. To date, we’ve committed over $190 million worldwide. We’re proud to partner with the GIIN and other impact investing leaders to share insights and take action.