It has been inspiring to be part of the rapidly growing impact investing movement over the last several years, as foundations and their partners have committed more of their assets to social and environmental change. In the midst of this growth, Mission Investors Exchange (MIE) and our 250 members have taken a leadership role in keeping “impact” at the heart of the movement. But one critical element of “impact” has received insufficient attention: racial equity.
By 2020, median white American households are projectedto own 86 times more wealth than African-American households and 68 times more than Latinx households. Significant racial disparities also exist in employment, educational attainment, access to healthcare, incarceration rates, and many other aspects of American life.
It is therefore crucial that racial equity become a central part of the impact investing movement. That’s why MIE recently started on its own journey in pursuit of racial equity, working both to evolve our internal practices and to surface best practices in the philanthropic community at MIE’s 2018 National Conference and as part of the Racial Equity track at SOCAP 2018. These and other collective efforts led up to this series, launched with a companion essay by La June Montgomery Tabron, president of the W.K. Kellogg Foundation.