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Nuveen, one of the world's largest asset managers, has just become the first company to sell a bond linked to social and environmental outcomes, the Guardian reports.
The $1 billion issue, which closed last week, is part of a growing market of so-called impact bonds, which seek to make a positive social or environmental impact by investing in projects that increase access to clean drinking water, reduce greenhouse gas emissions, or boost the supply of affordable housing.
According to Bloomberg, impact bonds are growing at a compound annual growth rate of 9.5% from 2022 to 2031, and Nuveen is one of the biggest players in the market.
"In order to drive significant amounts of capital towards positive environmental and social outcomes, we cannot sacrifice performance," Nuveen's portfolio manager says in a press release.
The bonds, which are linked to carbon credits, are expected to reduce greenhouse gas emissions by more than 3 million tons of carbon dioxide over the next five years, as well as make clean drinking water available to 2 million children in Vietnam.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Haril Kazindra and wife Andrea are the co-founders of Musana, a community development NGO that runs 19 social enterprises across Uganda.Musana has offices in Denver and London and employs 700 staff,...more
Foundation: Lilly Endowment
All In Kosciusko exists to promote and accelerate the economic and community development already happening across the county.Concerns about economic diversification, talent retention and quality of...more
The Bill Gatton Foundation supports K-12 and higher education, health, and community development in Kentucky, Upper East Tennessee, and Southwest Virginia.Large education grants include $13.5 million...more
Local organizations win $9 million for new affordable housing, social services.Connecticut's Community Investment Fund grants come amid a deluge of cuts to federal funding.The fund was established in...more
Foundation: Parasol Tahoe Community Foundation
Parasol Tahoe Community Foundation has proudly supported Bread & Broth for the past 10 years.In 2024, the Community Foundation was able to introduce the mission of Bread and Broth to a donor who is...more
Foundation: Latino Community Foundation
Latino Community Foundation Awards $3.88M in Grants Across California and Nevada.NewsBreak: Latino Community Foundation awards $3,000,000 in grants across California andNevada.Newsbreak: $1.5 million...more
Alejandro Betancourt Lopez rejects traditional corporate social responsibility models that separate business operations from community impact.Rather than limiting community engagement to corporate...more
Thoughtful giving isn't just about making a donation, it's about creating meaningful impact.Community foundations exist to connect generosity with need, ensuring that charitable giving is both...more
Kareem Thomas most recently served as Chief Credit and Lending Administration Officer at Reinvestment Fund.Bhavani Daryanani has more than 20 years of experience in the sector, bringing deep...more
SECU Foundation has been named a recipient of the 2024 Carolinas Credit Union Foundation Hero Award for Partner in Philanthropy.The SECU Foundation promotes local community development in North...more
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