Tag: Energy & Climate

Indigenous Peoples and Engagement Timeline for Sustainable and Responsible Investing–2016 to 2024

By Steven Heim, Boston Common Asset Management

Above: In 2006, Investors came alongside Native advocates to change the Washington DC NFL team’s racist name and logo; in 2020 the team retired the name. This and more investor and shareholder engagements with Indigenous Peoples are highlighted in the latest update to the Indigenous Peoples and Engagement Timeline for Sustainable and Responsible. Image: protest of Washington NFL team in Minneapolis in 2014; photo by Fibonacci Blue.

Steven Heim of Boston Common Asset MgmtThis article supplements timelines encompassing 1971 – 2005 and 2006 – 2015. Originally published by GreenMoney Journal in 2015, these timelines were coordinated and compiled by Reed Montague of Calvert Investments, with contributions by Steven Heim of Boston Common Asset Management, and based on an earlier timeline created by First Peoples Worldwide. 

June 2015 Truth and Reconciliation Commission (TRC) in Canada releases 94 Calls to Action to redress the legacy and enduring harm of Canada’s residential school system. Call to Action 92 specifically defines the corporate sector’s role in reconciliation, urging businesses to adopt the UN Declaration on the Rights of Indigenous Peoples (UNDRIP) as a framework for corporate policy and operational activities that involve Indigenous Peoples and their lands and resources. In addition to ensuring equitable access to jobs, training, education, and long-term sustainability benefits for Indigenous Peoples, Call to Action 92 asks businesses to commit to respectful relationships, provide meaningful consultation, and obtain Indigenous Peoples’ FPIC in economic development projects.


July 2016 Investors & Indigenous Peoples Working Group (IIPWG) becomes independent group led by Susan White of the Oneida Trust and others, open to all. US SIF spun IIPWG off after providing institutional support since 2007. IIPWG also adopts Native name Yethiya wihe’ that means “We all give to them/We all invest in them” in the Oneida language. Boston Common Asset Management serves as informal secretariat for IIPWG from 2016 – 2019 until First Peoples Worldwide at CU Boulder (now Tallgrass Institute) becomes secretariat in 2020.


2016–2017 Upon request of Standing Rock Sioux Tribe (SRST), through First Peoples Worldwide, IIPWG organizes investor and bank meetings with SRST to educate them on their opposition to routing of Dakota Access Pipeline (DAPL) through their traditional territories, threatening their water supply. In fall 2016, Boston Common Asset Management recruits lead investors for shareholder proposals for three of the four oil companies in DAPL consortium: Marathon Petroleum, Phillips 66, Enbridge. In coordination with First Peoples Worldwide and consultation with SRST, IIPWG engaged banks, Wall Street analysts, DAPL JV partners (Marathon, Phillips, Enbridge), and later the U.S. Securities & Exchange Commission via letters, investor statements, meetings, shareholder proposals, and public statements. 

February 2017–April 2017 Over 160 investors, including CalPERS, the NY City and the NY State comptrollers, with $1.7 trillion in AUM, call on the 17 banks financing DAPL to support the Standing Rock Sioux Tribe’s request to reroute the pipeline. 

2017 Over 38% vote in favor of DAPL shareholder proposal to Marathon Petroleum, filed by New York State Comptroller’s Office, for the New York State Common Retirement Fund. 31% voted in favor of shareholder proposal to Enbridge re DAPL. Leads: SHARE, Sisters of Charity of Halifax.

2017 Standing Rock Sioux Tribe meets with banks financing DAPL. Six banks divest their loans in the DAPL consortium: ABN Amro, ING, BayernLB, Nordea, DNB, and BNP Paribas

June 2017 First oil flows through Dakota Access Pipeline.

October 2017 Over 90 investors with $2.67 trillion in AUM call on Equator Principles Association to revise Equator Principles to include Indigenous Peoples’ FPIC and cover countries such as the United States. Equator Principles Association launches revision of the Equator Principles, “EP4”.

May 2018 – Over 100 Investors representing $2.52 trillion AUM sign letter to banks financing oil and gas companies, opposing all efforts to develop in the Arctic National Wildlife Refuge. Letter details harm to the Porcupine Caribou Herd from development and correlating impacts to the Gwich’in Nation’s subsistence and traditional way of life.

2018 First Peoples Worldwide at CU Boulder publishes case study Social Cost and Material Loss: The Dakota Access Pipeline that examines the numerous impacts attendant to the Dakota Access Pipeline (DAPL) project to highlight the costs that companies, financial institutions, and investors faced by failing to account for the human rights of Indigenous Peoples. Case study asserts that social risk resulting from the absence of adequate Indigenous Peoples’ rights protections has material impacts, estimated to be over $12 billion for DAPL, i.e. costs incurred by owners were at least $7.5 billion, and financiers incurred an additional $4.4 billion in costs for a project that was estimated to cost $3.8 billion.

2018 First Peoples Worldwide at CU Boulder releases Free, Prior and Informed Consent Due Diligence Questionnaire, a due diligence framework that optimizes beneficial partnerships and engagement with Indigenous Peoples. DDQ is updated in 2024 to encompass self-determined protocols by developed Indigenous communities and heightened due diligence for Indigenous Peoples in Voluntary Isolation and Initial Contact.


2018–2019 Boston Common starts engagement with Albemarle and SQM, major lithium miners in Chile urging them to respect rights of Indigenous Peoples and protect their water. Boston Common uses questions from FPW’s new FPIC DDQ questionnaire. 

2019 Boston Common leads investor coalition with $2.7 trillion AUM, urging Equator Principles Association to require FPIC by Indigenous Peoples in new revision to Equator Principles, “EP4” First Peoples Worldwide at CU Boulder and other groups organize Native peoples participation in regional consultations by Equator Principles in London and Toronto. Final EP4 publishes November 2019 and falls far short of FPIC protocols needed to reduce risk for project finance by major banks. Four major U.S. banks – Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo – exit the Equator Principles as of 2024.


June–July 2020 Following over 50 years of advocacy by Native Americans, and investors starting in 2006, on July 13, 2020 the Washington, DC NFL team announces it will drop its racist team name and logo. This immediately followed IIPWG investor letters sent in June 2020 to key corporate sponsors FedEx, PepsiCo and Nike after the nationwide protests of the death of George Floyd in 2020. The team adopts new name Washington Commanders in 2022.

September 2020 Canadian investor advocacy organization SHARE launches Reconciliation and Responsible Investment Initiative (RRII). SHARE works closely with the National Aboriginal Trust Officers Association on RRII, which works with Indigenous and non-Indigenous investors to align capital with reconciliation, and to amplify investor voices in support of Truth and Reconciliation in Canada.

September 2020 Following action by shareholders and push for stronger commitments to Indigenous Peoples’ rights and FPIC in company operations, CEO and senior executives resign from Rio Tinto after the company’s destruction of the Juukan Gorge sacred sites in Australia by mining projects. In 2021, Rio Tinto’s Chairman also resigns.


June 2021 Investors urge AT&T to address multiple instances of erasure, bias, and racism against Native Americans by CNN, a property of AT&T’s WarnerMedia.

November 2021 The Responsible Investment Association Australasia Human Rights Working Group and First Nations Peoples’ Rights Working Group releases toolkit, An Investor Focus on Indigenous Peoples’ Rights and Cultural Heritage Protection.

October 2021 Native Americans in Philanthropy and Candid release extensive Native-centered timeline of U.S. history as part of Investing in Native Communities initiative.

December 2021 IIPWG investors write joint letter to U.S. Securities & Exchange Commission (SEC) urging it to include Indigenous Peoples’ concerns in required corporate risks disclosures regarding social and climate issues. Specifically, they urged SEC to require disclosures about material risks related to Indigenous Peoples’ and tribal peoples’ land rights where they are directly or indirectly impacted by listed companies’ operations.


March 2022 Investors representing $2.09 trillion write to U.S. and Canadian banks that financed Enbridge’s Line 3 tar sands oil pipeline extension in Minnesota and Wisconsin. Investors questioned the banks’ human rights due diligence that failed to consider the lack of FPIC from Native American tribes. Banks included Bank of America, Bank of Montreal, Citi, CIBC, JP Morgan Chase, Morgan Stanley, Royal Bank of Canada, Scotiabank, TD, and Wells Fargo. Investors meet with several of the banks and later file shareholder proposals with some banks asking them to adopt comprehensive Indigenous Peoples’ rights policies.

May 2022 U.S. Department of the Interior releases the Federal Indian Boarding School Initiative Investigative Report Vol. I, authored by Assistant Secretary of Indian Affairs Bryan Newland; Vol. II releases in 2024.

June 2022 Investors deliver comment letter to the SEC, outlining the materiality of Indigenous Peoples’ rights and need for inclusion of Indigenous Peoples in the proposed climate rule S7-10-22. “When investors are not provided information regarding Indigenous rights risk, they face several burdens if they want to maintain a portfolio that accounts for all pertinent risks,” say investors.

November 2022 The Center for Indian Country Development launches Native American Funding and Finance Atlas, which maps economic development resources in Indian Country.


2023–2024 The Union of British Columbia Indian Chiefs (UBCIC), alongside the B.C. General Employees’ Union (BCGEU), present shareholder proposals to urge Canadian banks such as RBC, BMO, and TD to operationalize FPIC. These efforts lead to policy updates referencing UNDRIP and strengthened due diligence on Indigenous Peoples’ rights.

2023 Investors file shareholder proposals in 2023 with six banks and two insurance companies in the U.S. and Canada regarding Indigenous Peoples rights policies. Proposals to Bank of Montreal (BOM), Chubb, Citigroup, Royal Bank of Canada (RBC), The Hartford, TD Bank and Wells Fargo addressed Indigenous Peoples’ right to FPIC. Chubb and The Hartford also received proposals that called for Indigenous Rights Risk as part of human rights frameworks, and proposals asking for racial equity audits that include impact on Indigenous Peoples were delivered to BOM, CIBC, RBC A proposal to review Citigroup’s policies on climate and Indigenous People’s rights impacts received a 31% vote, and a proposal for Travelers to provide shareholders with a racial equity audit received a 35% vote. 

January 2023 U.S. Environmental Protection Agency (EPA) issues Final Determination to halt Pebble Mine project in Alaska’s Bristol Bay following over a decade of sustained opposition from Alaska Native Communities due to its potential impact on salmon populations and their traditional way of life. The project was first proposed in 2001, and in 2011, 29 investors including Trillium and Calvert submitted a letter to the EPA urging a 404(c) review process to evaluate the potential mine waste impacts associated with the proposed project.

March 2023 Lead The Charge campaign launches electric vehicle leaderboard, analyzing 18 leading automotive manufacturers’ supply chains; Indigenous Peoples’ rights was the lowest-scoring category, with two-thirds of automakers scoring 0% and the highest score only 17%. Update in 2024 shows little improvement: eleven companies again score 0% on Indigenous Peoples’ rights and the few companies that ranked on FPIC due diligence perform well below standards (Tesla at 26%, Mercedes at 15%, General Motors at 11%, BMW at 8%, and Ford at 7%).

March 2023 SIRGE Coalition in support of People of Red Mountain sends letter to General Motors with concerns about violations to Indigenous Peoples’ rights from mining sacred land of Peehee Mu’Huh (also called Thacker Pass), as well as General Motors’ $650 million joint Equity Investment and Supply Agreement with Lithium Americas to develop the Thacker Pass lithium mine. The letter also flags lawsuit filed by Reno-Sparks Indian Colony, Burns Paiute Tribe and Summit Lake Paiute Tribe to further demonstrate the proposed mine lacks social license to operate from directly affected Indigenous Peoples.

April 2023 Amazon Watch releases Respecting Indigenous Rights: An Actionable Due Diligence Toolkit for Institutional Investors.

June 2023 U.S. Supreme Court upholds Indian Child and Welfare Act.

June 2023 First Peoples Worldwide at CU Boulder, Integrated Capital Investing, and Croatan Institute publish guide to catalytic capital practices in Indian Country (U.S.). Drawing from interviews with 22 practitioners comprising philanthropic investors, private investors, Native intermediaries, and Native entrepreneurs, the research demonstrates how creative capital in Indian Country enables long term, culturally aligned success.

July 2023 IIPWG launches FPIC Working Group to support investors as they seek to operationalize FPIC as defined by Indigenous Peoples through shareholder advocacy. 

July 2023 UN Special Rapporteur on the rights of Indigenous Peoples releases Green financing – a just transition to protect the rights of Indigenous Peoples report. 

August 2023 Insurance industry report from Gwich’in Steering Committee (GSC) shows 20 companies now have a policy to preclude underwriting oil and gas drilling on sacred land in the Arctic National Wildlife Refuge since GSC engagements started in 2020. This follows similar commitments from nearly 30 international banks after 2018 investor letter and subsequent engagements by GSC and others. 

September 2023 Indigenous Peoples Rights International and Business & Human Rights Resource Centre launch Shared prosperity models & Indigenous Peoples’ leadership for a just transition resource hub.

October 2023 Following engagement by Native leaders and investors, the revised Community Reinvestment Act regulations reflect feedback from Indian Country rightsholders and for the first time include provisions to define areas and development activities unique to Native communities. 

October 2023 SIRGE Coalition members publish Securing Indigenous Peoples’ Right to Self-Determination: A Guide on Free, Prior and Informed Consent, which parses extensive considerations that Indigenous leaders face when designing protocols to engage about projects that impact their communities. 

December 2023 Indigenous leaders release open letter to COP28 delegates Ensure Indigenous Peoples’ Rights Are Secured in the “Green” Transition


2024 In 2024, investors file proposals aligned with Indigenous priorities with 6 banks and one insurance company, including Bank of Montreal, Citigroup, JP Morgan Chase, PNC, Royal Bank of Canada, Travelers,  Wells Fargo. Proposals at JPMorgan, Citi, and Wells Fargo receive 30%, 26%, and 24% votes in favor respectively.

February 2024 Indigenous Shuar Arutam People (PSHA) and other Indigenous organizations in Ecuador file a complaint about Solaris Resources’ inadequate material risk disclosures. Following Solaris’s response, the PSHA and others send Solaris a statement in June ahead of the company’s AGM and amid falling share prices, denouncing the company’s repeated misrepresentation of community relations to investors.

April 2024 Indigenous leaders and investors respond to Citi’s wholly inadequate report Respecting the Rights of Indigenous Peoples (see also statement to Citi from Indigenous Nations in Peru and an exempt solicitation filed by Citi shareholders).

April 2024 IIPWG updates language around its priority areas to reflect the need to prioritize respect for all rights of Indigenous Peoples in corporate standards and address the increasing concern that energy transition as well as resource extraction projects are perpetuating harmful impacts.

August 2024 SIRGE Coalition and other Indigenous Peoples group voice concern about the International Council on Mining and Metals (ICMM) Indigenous Peoples and Mining Position Statement; they request ICMM revise, correct, and strengthen its position urgently. 

August 2024 Following engagement by the Carrizo Comecrudo Tribe of Texas and allies, Chubb becomes the first insurance company to withdraw from the Rio Grande LNG project due to impacts to Indigenous Peoples; five banks – SMBC, Société Générale, Credit Suisse and two private banks – had previously committed to not financing the project. 

October 2024 By 2024, ConocoPhillips holds18 years of engagement, dialogues and meetings on Indigenous Peoples’ rights issues led by Eder Financial of the Church of the Brethren and Boston Common Asset Management. ICCR has hosted these meetings from 2010 to 2024 with up to 40 investors participating. 

October 2024 Nearly 100 Indigenous leaders from the world’s seven socio-cultural regions meet in Geneva to formalize Indigenous Peoples Principles and Protocols for Just Transition, which defines principles Indigenous Peoples’ require for a just transition. Among commitments to action and implementation, Indigenous Peoples call for comprehensive mapping and due diligence procedures for transition minerals development and for the private sector to take responsibility for any “damage, loss of cultural heritage, and other adverse impacts of mining activities.”

November 2024 Canadian investors, RRII, and First Nation representatives launch the Canadian arm of IIPWG to coordinate joint actions and educate investors and others.

December 2024 Indigenous Peoples and allied groups advocate that the Consolidated Mining Standard Initiative (CMSI) draft proposal address significant gaps, uphold Indigenous Peoples’ rights,  and meaningfully integrate feedback from Indigenous Peoples. As drafted, standards fail to adequately measure FPIC obligations and need stronger metrics that prioritize Indigenous Peoples’ self-determination and meaningful engagement over corporate-driven benchmarks.

Footnote: The information in this article should not be considered a recommendation to buy or sell any security. All investments involve risk, including the risk of losing principal. Best efforts have been made to include accurate information.

 

Article by Steven Heim is a Managing Director for Boston Common Asset Management, a globally recognized leader in sustainable investing. In October 2023, Steven received the prestigious 2023 Legacy Award from the Interfaith Center on Corporate Responsibility (ICCR), honoring his track record of success in influencing corporate practices, including regarding Indigenous Peoples’ rights. Steven has over 30 years of experience in the responsible investment field. His efforts to protect the human rights of Indigenous Peoples—which included direct engagement with Indigenous Peoples in the Ecuadorian Amazon—have helped catalyze positive policy changes at U.S. and international companies. From 2007 to 2019, he chaired the advocacy subcommittee of the Investors & Indigenous Peoples Working Group (IIPWG), and he helped lead investor engagement to change the name of Washington’s NFL football team, which was completed in 2022. With the IIPWG, he helped lead global investor engagements with major banks regarding the Dakota Access Pipeline and urged global banks to revise the Equator Principles for project finance to respect Indigenous Peoples’ rights. Steven serves on the Board of Directors of Cultural Survival, IIPWG’s steering committee, and the finance committee for the International Funders for Indigenous Peoples.

Additional research for this article was provided by the Tallgrass Institute 

Additional Articles, Energy & Climate, Impact Investing, Sustainable Business

Indigenous Values Seed Systems Transformation in Hawai’i

By Keoni Lee, Hawai’i Investment Ready (HIR)

Above: Enterprise participants from (L to R) Sust’ainable Molokai, GoFarm Hawai’i, ‘Aina Ho’okupu o Kilauea and Polipoli Farms gather at Ala Kukui in Maui for a meeting of HIR’s Hawai’i Food Systems Accelerator. The program highlights enterprises’ roles within a larger ecosystem, recognizing that diversity and interconnectedness are essential drivers of systemic change (Photo by Kim Moa, Courtesy of HIR)

Keoni Lee of Hawai'i Investment Ready

In the dynamic landscape of impact investing, systemic and bioregional investing approaches are emerging as transformative models for regenerative economic development. Hawai’i, with its rich biocultural heritage and unique geographic and ecological significance, provides a fertile demonstration ground for place-based solutions with global relevance.

At the forefront of this movement are innovators, community leaders, social entrepreneurs, and capital holders working toward a more just, resilient, and regenerative future. Weaving these networks of collaborators is Hawai’i Investment Ready (HIR), a non-profit impact investing intermediary with a bold mission to invest in Hawai’i’s economic transformation by accelerating the coordination and collaboration of capital to seed and scale systemic solutions.

By centering relationships, Indigenous expertise, adaptive leadership, and systems-based strategies rooted in cultural values, HIR is developing and prototyping systemic investing and bioregional financing models that empower community-driven solutions to Hawai’i’s most pressing social and economic challenges and opportunities.

Systems Problems Require Systems Solutions

As an island economy, challenges like food insecurity, over-reliance on imports and environmental degradation are magnified, posing existential threats. Transforming Hawai’i’s economy is no small feat and conventional economic development approaches have failed for decades to manifest large-scale change. Overcoming the unique market challenges and barriers requires new leadership, mindsets, tools, and investment approaches.

After over a decade of catalyzing social enterprise in Hawai’i, HIR continues to foster regenerative business models through its flagship program. The reimagined Hawai’i Food Systems Accelerator is the first Native-led accelerator in Hawai’i or the continental U.S. Its dual-cohort strategy and selection process prioritizes funders and enterprises committed to the iterative growth and experimentation critical to working in Hawai’i’s complex ecosystems.

By integrating cohort-based learning, culturally grounded approaches, personalized mentorship and long-term support, HIR equips enterprises with tools to support sustainable growth and meaningful impact within their communities. Rather than focusing on individual business growth, the program highlights enterprises’ roles within the larger community and ecosystem, recognizing that diversity and interconnectedness are essential in driving change.

“To be in community with grassroots change-makers, problem-solvers and progressive thinkers, to be financially values-aligned and able to scale in a way that’s right for us, to understand our kuleana (responsibility & privilege), to shift things for our community, and find our place in today’s economy and beyond that is connected to kupuna (elders) and to ‘aina (land)–HIR empowered us to dream and execute outside the box.”

– Kau’i Kanaka’ole, Executive Director at Ala Kukui & HIR Accelerator Participant

Through participation in HIR’s accelerator, alumni like Kanaka’ole have been able to articulate their UVP for the communities they serve. As a new executive director, Kanaka’ole’s experience with HIR enabled her to harness the potential to reenvision Ala Kukui into a place of belonging and empowerment for community to learn and reconnect with culture, relationships and ancestral wisdom.

HIR is building the field with networked strategies that deepen relationships and trust among enterprises, funders, investors, and community leaders. These strategies are ground-truthed in rigorous data-driven research and evaluation methodologies such as Social Network Analysis (SNA), which uses mapping to assess network strength and health by examining relationships and analyzing the structure of connections. HIR network participants have reported increased collaboration, communication, comfort in seeking information and help, ongoing and new business, and adoption of new tools, practices, or strategies.

HIR’s polycapital approaches leverage economic, human, social, political, and spiritual capital–fostering new dialogue, shared understanding and innovative solutions to catalyze collaboration between people, opportunities and resource flows.

Indigenous Values as a Foundation for Innovation

The Native Hawaiian concept of aloha ‘aina recognizes the deep reciprocal relationship between people and ‘aina (land, or “that which feeds”). This Indigenous worldview acknowledges the complexity and interconnectedness of all living systems and inspires the type of innovation being employed by HIR accelerator alumni like Hui Malama i ke Ala ‘Ulili (huiMAU), which leverages place-based expertise and holistic strategies to tackle unique regional opportunities and challenges across diverse sectors including education, workforce development, ecosystem regeneration and watershed management, food cultivation and distribution, health equity, and housing.

In contrast, extractive economic models that externalize social and environmental factors, hinder sustainable growth and exacerbate economic and ecological challenges in frontline rural communities and global industries alike.

HIR’s culturally grounded approach empowers shared purpose and the quality of all relationships–human, environmental and ancestral.  Native Hawaiian values serve as core principles in process design, decision-making, and investment strategies–Pilina (relationship), kuleana (responsibility), aloha (love, respect), a’o aku, a’o mai (reciprocity in learning), and ho‘ohua (action) provide a powerful framework to reimagine economic development in Hawai’i and beyond.

“Living one’s values is not an inconsequential life choice. Values are foundational and should provide the navigational guidance for our governance and economy. When we practice them and create inclusive spaces for others to see and live by them, we uplift the wisdom of our ancestors and our collective futures.”

– Neil Hannahs, HIR Co-Founder & Board Member

To be a part of a group of grassroots change-makers problem-solvers and progressive thinkers – Hawaii Investment Ready

Changing the Way Money Moves: Innovative Capital Solutions

Recalibrating roles and responsibilities on both sides of capital markets fosters better alignment with the needs of frontline communities. This requires innovative capital solutions and reciprocity in decision-making and collective learning as these strategies are tested in the field.

HIR’s new ‘Aina Aloha Economy Fund (AAE Fund) is reshaping capital flows to align with Indigenous values and community priorities. The AAE Fund is Hawai’i’s first catalytic capital product—developed in alignment with the ‘Aina Aloha Economic Futures (AAEF) framework and launched in 2024 in partnership with Mission Driven Finance (MDF).

Combining HIR’s program expertise, research and relationships in the social sector with MDF’s fund administration experience, the AAE Fund integrates patient, flexible and risk-tolerant debt with HIR’s technical assistance and capital networking to enable investments in solutions often overlooked by conventional financing. This strategy directs capital to values-aligned enterprises, prioritizing sustainability and resilience over short-term and often unsustainable economic gains.

Keoni Lee and Hawaii Investment Ready builds a just transition to a regenerative local aina aloha economy

The community-governed AAE Fund reseats decision-making power and includes an advisory council that is 100% Native Hawaiian and 70% wahine (women) and an investment committee representative of the local community. While HIR holds an advisory seat, it does not sit on the investment committee, ensuring the community has final say over resource allocation.

The AAE Fund challenges extractive financial models by centering equity and reciprocity in decision-making and deploying values-aligned capital that is responsive to community needs. This emergent investment model highlights the role of finance as a tool for healing and regeneration and offers a new narrative for investors and enterprises that fosters trust and shared responsibility for economic and environmental outcomes.

Our Blueprint for a Thriving Future

We at HIR envision the just transition to a regenerative, locally-resilient ‘aina aloha economy where all life (land, people, communities) thrives. By addressing systemic inequities in the market, we are demonstrating that long-term adaptive change is both strategic and scalable, and strategic investment in place-based strategies and regenerative approaches are not only ethical but economically critical. Our work with the AAE Fund and integrated systems-based approaches show that economic transformation is not just possible, but already underway.

Hawai’i highlights the power of bioregional solutions to address systemic challenges. These lessons extend beyond our islands and serve as a blueprint for reimagining a more equitable future where people and ‘aina thrive together.

Also by Keoni Lee for GreenMoney: Investing in a Different Kind of Paradise: Catalyzing Hawai’i’s Sustainable Food System 

 

Article by Keoni Lee, C0-CEO of Hawai’i Investment Ready, and a successful Native Hawaiian social entrepreneur and co-founder of Waiwai Collective and ‘Oiwi TV. He is actively engaged in community work around decolonizing education, local food systems and the economy and is a co-leader of ‘Aina Aloha Economic Futures and a member of Toniic. Contact him at keoni@hiready.net

Additional Articles, Energy & Climate, Food & Farming, Impact Investing, Sustainable Business

Tallgrass Institute: Connecting Investors to Indigenous Insights and Expertise

By Kate Finn and team, Tallgrass Institute

Tallgrass Institute amplifies Indigenous insights from around the world and encourages creative capital approaches that value the fullness of economic, social and cultural wellbeing. 

Kate Finn executive director of Tallgrass InstituteTallgrass Institute launched on January 14, 2025 to connect Indigenous Peoples’ perspectives, solutions, and leadership with investors and the private sector. Our work advances Indigenous Peoples’ self-determination and is guided by Indigenous Peoples’ enduring values, stories, and cultures.

“Indigenous definitions of economic wellness and thriving are informed by a depth of story, of persistence and resistance, and the complexity of language and cosmovision,” said Founder & Executive Director Kate R. Finn. “Our work as a Center for Indigenous Economic Stewardship is to steward – to care for with intentionality, time, and foresight – those visions to be part of building strong and healthy communities.”

Tallgrass Institute works with Indigenous Peoples and organizations, a range of global investor groups, sustainability professionals, and standard-setting bodies to redefine the private sector’s role as one that respects Indigenous Peoples’ rights, lands, and economic priorities. We achieve this through training for Indigenous leaders and the private sector, targeted research, investor networks, and corporate and international advocacy.

Training

Tallgrass Institute meets increasing demand to provide Indigenous leaders, investors, and corporate decision-makers with training that aligns business practice with the rights of Indigenous Peoples. Through public convenings and private meetings, formal instruction, and webinars, our training develops knowledge, skills, and readiness. 

Among resources for investors our Free, Prior and Informed Consent Due Diligence Questionnaire provides a framework for performing due diligence that optimizes partnerships and engagement with Indigenous Peoples. The guide was updated in 2024 to reflect advancements in best practices to integrate Indigenous Peoples’ self-defined free, prior and informed consent (FPIC) protocols, and to require heightened due diligence for Indigenous Peoples in Voluntary Isolation and Indigenous Peoples in Initial Contact.

2024 also saw the release of our second Indigenous Peoples’ Rights and Participation in AGM Proposals report. This annual report examines shareholder proposals to protect Indigenous Peoples’ rights, documenting best practices for investors to work with Indigenous Peoples within those strategies. It also serves as a call to action for corporate accountability, with the most recent report reflecting a call from Indigenous leadership that action above policy is needed to ensure respect for Indigenous Peoples’ rights.

Unfortunately, the overarching view of Indigenous Peoples from companies is framed largely in the negative, as shareholders and C-suites are often only aware of impacts to Indigenous Peoples when there is a grievance filed or conflict creates operational risk. This pattern reinforces negative tropes rather than creating space for active, beneficial engagement and partnership, even when development doesn’t proceed. Tallgrass Institute seeks to disrupt this pattern in favor of one that recognizes the strength of Indigenous economic visions.

Research

Our research leads with Indigenous Peoples’ enterprise visions, advances respect for Indigenous Peoples’ rights in business operations, and centers and amplifies Indigenous solutions to systemic economic exclusion. Publications highlight the voices of Indigenous leaders and provide actionable insights and recommendations rooted in Indigenous expertise.

At Tallgrass Institute, we continue to engage with investors, funders, and Native enterprise leaders around critical findings from the Indigenizing Catalytic Capital report, released in 2023. Detailing eleven themes in the current capital landscape in Indian Country, the paper concludes with five recommendations to “center on redistributing power in investing and finance to address structural racism, forward Native self-determination, and support flourishing Indigenous economies which create both wealth and social wellbeing.” The recommendations are: 

  • Enact data justice,
  • Center Indigenous-led intermediaries,
  • Increase investor literacy in foundational understanding of Native nations, Promote integrated capital strategies, and
  • Invest in right relationship. 

[Read more about the Indigenizing Catalytic Capital report on GreenMoney Journal.]

Networks

Tallgrass Institute cultivates collaborative networks to interact with and activate investor and economic ecosystems aligned with Indigenous Peoples’ rights and wellbeing. We serve as Secretariat of the Investors & Indigenous Peoples Working Group (IIPWG), as well as provide a leadership role in the Securing Indigenous Indigenous Peoples’ Rights in the Green Economy SIRGE) Coalition.

IIPWG comprises a broad coalition of investors and finance leaders who have worked since the early 2000s to address challenges facing Indigenous Peoples globally and to mainstream Indigenous Peoples’ rights in responsible investment. The group also supports and uplifts Indigenous leaders’ participation in investment and shareholder spaces.

The group’s monthly strategy call for investors and finance leaders provides a clearinghouse for information, news, and joint action to bring together Indigenous and non-Indigenous communities on issues related to sustainable and responsible investing and Indigenous Peoples’ rights. Resources include a monthly newsletter, webinars, and more. In 2024, IIPWG launched an FPIC Working Group and recently welcomed the launch of IIPWG Canada in partnership with the Reconciliation and Responsible Investment Initiative.

Advocacy

Tallgrass Institute works with Indigenous Peoples and Indigenous organizations to design and support corporate engagement. This includes engagement with the finance and business sectors as well as standard-setting bodies to provide context for a wide range of corporate decision-makers regarding the business case for respect for Indigenous Peoples’ rights. 

In parallel, we work to mainstream the business case for Indigenous Peoples’ rights to investors, international mechanisms, and standard-setting bodies. We advocate for corporations to identify the gap they must address and be responsive to their responsibility to respect human rights under the UNGPs as per the UN Declaration on the rights of Indigenous Peoples. By centering Indigenous Peoples’ power, participation, and self-determination in due diligence and operational practices, private sector actors can integrate Indigenous priorities and perspectives to solve today’s most pressing global challenges.

Some examples of recent advocacy include ongoing partnership with the Gwich’in Steering Committee to protect sacred land in the Arctic National Wildlife Refuge from from oil and gas development, support to track impacts to Indigenous Peoples in clean car supply chains, and multilateral engagements at the annual UN Forum on Indigenous Permanent Forum on Indigenous Issues

Conclusion: Values-Aligned Partnership towards Systems Change

This is a critical moment to create systems change. Considerable market and political shifts are occurring in real time; the effects of climate change and biodiversity loss are impacting people the world over, and while there is an increase of Indigenous economic power in some parts of the world, there is decline in safety for Indigenous human rights defenders in others.

Some investors have been active for decades on these issues, and some are just now stepping into work that prioritizes Indigenous Peoples rights in SRI frameworks, such as the “I in ESG”. At Tallgrass Institute we work to ensure that no matter when and how people activate, they can proceed in right relationship with values-aligned and rights-centered partnership.

Now is the time to embed new and creative approaches rooted firmly in the Indigenous worldview so the necessary change supports sustainable ecosystems for generations to come.


More about Tallgrass Institute at www.tallgrassinstitute.org

 

Article by Kate Finn and team, Tallgrass Institute 

Kate R. Finn is Founder and Executive Director of Tallgrass Institute, a Center for Indigenous Economic Stewardship. She leads the organization to build and implement strategies that forward Indigenous Peoples’ priorities at the intersection of business, law, and finance. Ms. Finn’s areas of focus and research expertise include Indigenous Peoples law and policy, preventing violence against women, sustainable finance, and business and human rights. Ms. Finn holds a J.D. and a Masters in Public Administration from the University of Colorado, and a B.A. from Princeton University. Ms. Finn is Chair of the Executive Committee of the Securing Indigenous Peoples’ Rights in the Green Economy (SIRGE) Coalition, and she serves on the boards of Cedar Growth, Cultural Survival, and on the Stewardship Circle of Adasina Social Capital. Ms. Finn is an enrolled citizen of the Osage Nation. 

Additional Articles, Energy & Climate, Food & Farming, Impact Investing, Sustainable Business

Supporting Indigenous Self-Determination Through a Spectrum of Capital

By Carla Fredericks and Matt Aguiar, The Christensen Fund

Above image courtesy of:  The Christensen Fund works to support Indigenous Peoples in advancing their inherent rights, dignity and self-determination.

Carla Fredericks and Matt Aguiar of The Christensen FundFor centuries, Indigenous Peoples and communities have been colonized, stolen from, discriminated against, marginalized, and neglected. To restore economic justice, investors and capital-holders must consider this history and reality, and then determine if, how, and when they will take action to facilitate a reimagined, inclusive economic future. Investment opportunities exist to support this transition and promote Indigenous economic livelihoods.

The Christensen Fund, a private grantmaking foundation created in 1957 by Allen D. and Carmen M. Christensen, supported the arts and cultural preservation around the world through the late 1990s. Beginning in the early 2000s, the organization shifted its focus to biocultural diversity, supporting local initiatives in select priority regions around the world with unique heritage in an effort to sustain planetary diversity. Following a series of collaborative and consultative discussions with partners, in 2021 The Christensen Fund narrowed its focus explicitly on supporting Indigenous Peoples in advancing their inherent rights, dignity, and self-determination. We coined this as our organizational “Purpose”, rather than our “Mission”, because of the traumatic, colonial history of the Catholic missions in California, where we are based.

Indigenous Peoples have been purposefully excluded from participation in economic activities around the world. Discriminatory and predatory lending practices have kept Indigenous communities from being able to access capital that is critical to building wealth. For this reason, we determined that for our foundation to achieve the desired impact, we had to go beyond our grantmaking and assess how our foundation’s endowment could be more effectively activated in pursuit of our Purpose.

Our Journey

The Christensen Fund has long considered how its assets could create positive impact beyond our grantmaking. In the mid-2010s, our Board and Investment Committee piloted multiple small-scale initiatives, including one Program Related Investment, several Mission-Related Investments, and a shareholder activism program. We also began a fossil-fuel divestment initiative. 

In 2021, after developing a new program strategy and articulating our organizational Purpose focused on the rights of Indigenous Peoples, we delved deeper into a conversation about the impact of our investments. After updating our Investment Policy Statement (IPS) to “align our investments and our values”, we spent over a year developing what we called our “Purpose Aligned Capital” plan. 

This collaborative process, which included members of our staff, Board, Investment Committee, OCIO, and external consultants and peers, was approved by our Board at the end of 2022 and created three distinct sleeves for our assets:

  • Program Related Investments (PRIs) would have absolute alignment with our program strategy and Purpose, and may underperform, have wider range of outcomes, or be less liquid relative to other strategies in the same asset class;
  • Purpose Aligned Investments (PAIs) would be expected to generate market-rate returns and actively support our Purpose; and
  • Values Aligned Investments (VAI) would be expected to generate market-rate returns and not be opposed to the principles that The Christensen Fund stands for.

We spent the entirety of 2023 fleshing out parameters and qualifiers for each of these categories, and by the end of that year, we made our first commitments under this new Purpose Aligned Capital strategy.

During that time, we came across many PRI and PAI investment opportunities that excited us, and we confirmed what we expected to be true: that Indigenous Peoples have suffered economically for centuries because of economic injustice and discriminatory lending practices. As we began scratching the surface, we came across many promising and exciting, yet under-resourced opportunities. One such example is Tocabe Indigenous Marketplace, an Indigenous-owned, operated, and serving food company. Tocabe’s business aligns directly with The Christensen Fund’s Purpose of supporting Indigenous People via leadership, inherent rights, dignity and self-determination. By centering Native producers and consumers within its business model, Tocabe has created a social purpose business that is solving for multiple challenges: creating demand for Native producers and helping to solve for their distribution and marketing challenges while providing culturally relevant products for Tribes and Native consumers with limited or no access to healthy Native foods. The Christensen Fund is proud to partner with Tocabe by providing them with one of our first PRIs.

Tocabe is just one example of exciting indigenous-led and -serving enterprises that we have added to our PRI portfolio. We also committed a PRI to Akiptan, a community development financial institution (CDFI) which further supports Native American food systems by providing loans to Native American and tribal ranchers and farmers in order to build out Indigenous food chains. In an effort to facilitate access to clean energy, we have also committed a PRI to Navajo Power Home. These opportunities promote economic independence for Native American tribes, communities, and individuals — a critical ingredient for self-determination.

Realizations to Date

While we are still very early in our journey, we have embraced several key lessons already that will guide our path forward.

Transformative change takes time. It has been over three years since we revised our IPS, creating a mandate to align our values and  investments, and we have only committed 30% of our allocated capital to PRIs and PAIs. This may seem like slow progress, but it has actually felt like anything but. It has been critical to move carefully, building these programs for the long-term. We took the time to converse with our peers and our partners. We consulted experts, including leaders from the MacArthur Foundation and The Nathan Cummings Foundation, who have been doing this work for years, to hear about their experiences and develop our own plan based on their learnings. We have spent countless hours with our staff, Investment Committee, and full Board, ensuring that everyone understands both the importance AND the mechanics of this work. We are moving toward this future together and taking our time to ensure everyone is on board has been very important.

Partnership is critical. We have benefited tremendously from talking with partners, working with consultants, and listening to capital-seekers. In order to truly address the challenges, we are trying to overcome, we cannot go it alone. We must have the humility to acknowledge that we need help, and that others have expertise and experience that we do not. 

In addition to the recipients of our PRIs and PAIs, partners who have been critical to our implementation include Impact Charitable (intermediary who advises and offers administrative support for PRI implementation), Global Endowment Management (Outsourced Chief Investment Officer who is administering our PAI and VAI portfolios), and Integrated Capital Investing (consultant that supported our plan design and facilitated PRI sourcing).

The ecosystem is evolving. Our world is changing at a rapid pace, and so are the opportunities and challenges facing Indigenous Peoples. In order to continue to build and sustain a values-oriented investment plan that supports Indigenous livelihood, we must remain nimble and in relationship with the communities that we intend to support. We must prioritize learning as these challenges evolve, be open to pivoting and rethinking our strategy as we deepen our own understanding and as new opportunities unfold.

Indigenous Peoples face more threats today than ever before. By building an investment portfolio with a commitment to supporting Indigenous economic livelihoods, The Christensen Fund has taken action to support Indigenous self-determination. Achieving economic justice will require others to join in this effort. We know that, just as they have for millennia before, Indigenous Peoples can and will emerge from these challenges. We are excited for this future.

 

Article by Carla Fredericks and Matt Aguiar of The Christensen Fund

Carla Fredericks serves as CEO of The Christensen Fund, a private foundation that backs the global Indigenous Peoples’ movement in its efforts to advance Indigenous Peoples’ rights, support Indigenous self-determination and biocultural diversity.

As CEO of The Christensen Fund, Fredericks leads the organization’s work to support Indigenous Peoples’ rights and leadership globally through grantmaking, advocacy, and strategic partnerships. Under her leadership, Christensen has deepened its commitment to Indigenous self-determination and sovereignty while building strong relationships with peer funders to increase philanthropic support for Indigenous causes.

Prior to joining Christensen in 2021, Fredericks was Director of First Peoples Worldwide and Clinical Professor at the University of Colorado Law School and a partner at Milberg LLP. An enrolled citizen of the Mandan, Hidatsa, and Arikara Nation, Fredericks has long worked to advance the rights of Native peoples and is a recognized expert in finance, law, business & human rights, and Indigenous Peoples’ rights. 

Matt Aguiar joined The Christensen Fund in 2019 and is the Chief Financial and Operating Officer. He leads financial and operational functions, including oversight of investments, risk management, compliance, information technology, and human resources. Matt also spearheads implementation of strategies to improve organizational effectiveness and purpose alignment.

Energy & Climate, Featured Articles, Food & Farming, Impact Investing, Sustainable Business

2024 GreenBiz 30 Under 30 List of Sustainability Leaders

 

Meet These Rising Stars Fighting Climate Change at Work

Younger adults lead other generations in seeking purpose-driven work: A large majority of Gen Z (86%) and Millennial (89%) workers say that having a meaningful mission is important in their career, according to a Deloitte survey of 22,800 younger workers.

They’ll even “climate quit” when their employers renege on sustainability commitments.

This year’s GreenBiz 30 Under 30 list recognizes the rising stars of sustainability. These are the people who are driving change, at scale, at some of the world’s largest organizations.

The ninth class of the GreenBiz 30 Under 30 were all born on or after March 29, 1994. They hail from the United States, the United Kingdom, Mexico, Brazil and the Philippines.

The GreenBiz editorial team has selected these individuals from nearly 300 nominations submitted in the spring, for their unique and effective efforts to impact the climate crisis at scale.

They are working at corporate giants like BlackRock, Estée Lauder and Whole Foods; startups such as HelloFresh and Circ, and non-governmental organizations including EDF and GRID Alternatives.

Their vocations include making sure that Starbucks serves ethically sourced coffee beans, doubling JetBlue’s sustainable fuel usage and helping drive Zara’s use of recycled fabric.

Their influence is already vast: Assessing climate risk for $2.5 trillion in assets under management at Barclays. Engineering millions of square feet of low-carbon buildings at Gensler, the architectural firm. Setting up the U.S. Department of Energy’s $3.5 billion carbon-removal hubs.

And they’re doing hard, difficult work that often goes unsung, like electrifying truck fleets and home appliances, embedding circularity into food and textiles, and installing renewable energy sources at companies that previously burned oil.

It’s important work, and it’s just beginning. Wish them well — because we’re all going to live in the future they are creating today.

 The 2024 30 Under 30 Honorees List:

 Kayalin Akens-Irby, Head of Growth at Planet FWD in San Francisco

Alex Authie, Associate, Energy and Sustainability at AMA Group in California

Sneha Balasubramanian, Sustainability Specialist at Cisco in Austin, Texas

Raunak Barnwal, Vice President at JP Morgan in London

Ngozi Chukwueke, Africa Technical Associate, Coffee and Farmer Equity Practices at SCS Global Services in Washington, D.C.

Tin Dalida, Chief Operations Officer and Co-founder at Wovoka in Manila

Dan Dinh, Assistant Manager, Product Sustainability at The Estée Lauder Companies in New York

Edward Freer, Sustainability Communications Lead at the London Stock Exchange Group

Hannah Friedman, Founding Principal, Independent Strategic Financial Advisor at Planeteer Capital in New York

Holly Funk, Manager of Energy Performance at Norwegian Cruise Line Holdings in Miami

Vincent Gauthier, Manager, Climate-Smart Agriculture, at Environmental Defense Fund in Boston

Nicoline Good, Associate, Corporate Sustainability at BlackRock in New York

Peter Harrison, interior designer and climate action + sustainability specialist at Gensler in Portland, Oregon

Maile Hartsook, Environmental Sustainability Program Manager at Brown-Forman in San Francisco

Bella Horstmann, Senior Analyst, Sustainability & ESG at JetBlue Airways in New York

Arshiya Lal, Director of Corporate Development at Circ in New York

Andrew Loranger, Senior Analyst, Energy & Sustainability at Host Hotels & Resorts in Bethesda, Maryland

Pedro Alexandre Martins, Senior Sustainable Sourcing Manager at HelloFresh International in Berlin

Kermith Morales Moguel, Impact Manager at United Nations Global Compact in Cordoba, Mexico

Marcela Mulholland, Deputy Director of Partnerships at the Carbon Removal Alliance in New York

Charles Orgbon III, Manager, Climate Change & Sustainability Services at EY in San Francisco

Colton Orr, Sustainable Transportation Program Manager at Gladstein, Neandross and Associates in Los Angeles

Daniel Park, Sustainable Design Specialist at HOK in Ellicott City, Maryland

Sarah Reice, Sustainability Manager at Anthropologie in Philadelphia

Kaity Robbins, Senior Program Manager of Diversion at Whole Foods Market in Austin, Texas

Jess Roberts, VP of Ratings at Sylvera in London

Campbell Weyland, Senior Sustainability Analyst at Lowe’s Companies in Charlotte, North Carolina

Michael Wong, Senior Manager for Environmental Sustainability at Ferguson in Richmond, Virginia

Angelica Wright, Tribal Education and Workforce Manager at the Tribal Solar Accelerator Fund, GRID Alternatives in Orlando, Florida

Christy Zakarias, Climate Risk Vice President at Barclays in London

 

You can read more about each of these young innovators here.

Source: GreenBiz / Trellis

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ASU President Michael Crow Named to TIME Climate 100

Michael Crow named to TIME Climate 100
Image courtesy of TIME Climate 100

In November, Arizona State University President Michael Crow was named to the 2024 TIME100 Climate list of leaders and innovators driving real climate action.

The list includes leaders across a range of fields, from policy to business to education. TIME’s editors spent months vetting names from across the economy. They prioritized measurable, scalable achievements and recent action over commitments and announcements.

Crow is the first university president to be named to the TIME100 Climate list.

He is joined by such fellow honorees as World Bank President Ajay Banga; Claudia Sheinbaum, president of Mexico; Prince Harry, Duke of Sussex; Bill Gates, founder of Breakthrough Energy and TerraPower, among other enterprises; Jennifer Granholm, current secretary of the U.S. Department of Energy; and Gila River Indian Community Gov. Stephen Roe Lewis. This is only the second time the magazine has released its climate list.

The ASU president said the TIME100 Climate honor “is a welcome recognition of our university’s unique approach and impact.”

“We’re not focused on ‘the sky is falling’ or scare tactics — fear only inspires shortsighted, ill-conceived actions,” said Crow, who had been previously honored by the magazine when it named him one of the 10 best college presidents in 2009.

“We’re instead focused on finding solutions and results to some of society’s biggest challenges.”

Crow’s nearly four-decade-long conviction that the world’s leading universities are uniquely positioned — and have full responsibility — to lead in restoring and maintaining our relationship with the planet has driven many of his actions as a leader.

His career path is full of early-stage actions and “firsts,” such as founding Columbia University’s world-renowned Earth Institute (today part of Columbia’s recently formed Climate School) and the Consortium for Science, Policy and Outcomes.

Since becoming president of ASU in 2002, he has transformed ASU into a powerhouse of climate-related action from Hawai’i to Bermuda, from deserts to rainforests and everywhere in between.

Among ASU’s recent innovations:

  • This year, ASU became the first university to require a three-credit sustainability courseas part of students’ general-education curriculum, regardless of major.
  • In February, the university launched the Circular Plastics Microfactory, a first-of-its-kind facility for recycling and remanufacturing plastics, which is expected to divert 550 tons from landfills annually.
  • In April, ASU launched a state-of-the-art coral research and propagation facility— the largest coral nursery of its kind — in Hawai’i, with the aim of restoring 120 miles of reefs off the Big Island.
  • The National Science Foundation selected ASU earlier this year to lead a multi-institution enterprise to confront climate change in the Southwestand spur economic development.
  • The U.S. Department of Energy in 2023 named ASU the anchor institution for EPIXC (Electrified Processes for Industry without Carbon), the DOE’s seventh Clean Energy Manufacturing Innovation devoted to the challenge of fighting greenhouse gas emissions from industrial process heating.
  • Two years ago, ASU was tapped to lead the multiyear Arizona Water Innovation Initiativeto help secure the state’s water supply based on the university’s successful programs in water science, technology, management and law.

The university has been driving innovation in this area for decades. ASU established the nation’s first School of Sustainability in 2006, two years after founding the Global Institute for Sustainability and Innovation, home to numerous programs tackling environmental crises.

Launched about a decade later, the Julie Ann Wrigley Global Futures Laboratory — comprising more than 70 units, centers, programs and initiatives, and five schools, including the School of Sustainability — is a first-of-its-kind entity modeled on the national labs and designed to serve as a “medical center for the planet.” Built on the diverse expertise of more than 855 scientists and scholars, it is the world’s first comprehensive research and education institution dedicated to the empowerment of our planet and its systems.

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How Energy-Efficient Windows Transform Residential Properties

 

Above – window installation in a town near Ottawa. Photo provided by Ecoline

In today’s fast-paced world, energy efficiency is no longer a choice but a necessity for homeowners across Canada. With rising household energy consumption, smart home improvement investments are essential. But with so many of them available, where do you start to maximize comfort, reduce energy bills, and contribute to Canada’s sustainability plan?

According to the statistics, energy-efficient windows ranked as the 3rd most-desired home upgrade in 2024 and the 1st when it comes to enhancing energy-efficiency, showcasing their growing importance in residential properties.

This shift underscores how window technology has evolved to not only enhance aesthetics but also drive down energy costs. The numbers speak for themselves: the average Canadian household spends approximately $2,200 annually on energy, with even higher expenses in older, poorly insulated homes.

And with so many different government-backed programs to help homeowners finance energy-efficient upgrades, it’s no wonder replacement windows in BC stand out as a transformative solution.

Energy Efficiency Trends in the Residential Market

Energy-efficient solutions are taking canter stage as homeowners increasingly seek ways to reduce their carbon footprint and save on energy costs. Windows, a key component of any building’s thermal envelope, play a pivotal role in this transition.

Inefficient models can account for up to 25-30% of a home’s heating and cooling energy use; hence, the demand for energy-efficient windows continues to surge due to their proven impact on home comfort and long-term cost savings.

Key Window Trends in 2024:

  • Triple-Pane Windows: These have become a preferred choice among Canadian homeowners. While they are about 15% more expensive than double-pane windows, their advanced insulation properties make them 55% more energy efficient, leading to significant long-term savings.
  • Low-Emissivity (Low-E) Coatings: These microscopic metallic layers applied to glass reflect infrared light, keeping heat inside during winter and outside during summer. Low-E coatings can improve the energy efficiency of a window by up to 30%.
  • Energy Star Certification: Windows with this certification meet strict energy performance criteria, ensuring homeowners receive top-tier efficiency. Energy Star-certified windows have been proven to save up to 12% on annual energy bills.

How Government Programs Stimulate Home Renovations in Canada?

Investing in energy-efficient windows isn’t just a smart move for comfort and cost savings; it’s also supported by various government incentives designed to make these upgrades more accessible. Canadian homeowners can use several rebate and loan programs that encourage sustainable renovations. And while it varies for each province, let’s take a look at some of the most popular options in BC:

  • BC Energy Efficiency Rebate: In British Columbia, homeowners can claim up to $2,000 for window and door replacements. This initiative aims to incentivize upgrades that meet high-efficiency standards and promote the use of certified contractors.
  • Canada Greener Homes Loan: Probably the most sought-after program across Canada is the federal loan of up to $40,000 with 0% interest and a 10-year repayment period. This program is structured to support significant home energy retrofits, including window replacements that adhere to ENERGY STAR standards.
  • Ecoline Green Grant: Companies like Ecoline Windows provide their own initiatives, such as the Ecoline Green Grant, which offers homeowners up to $3,750 in savings on window and door installations.

Upcoming Canada Greener Homes Affordability Program

The Canadian government announced in their Budget 2024 plan the upcoming federal program to help homeowners across the country to continue renovating their homes to keep up with Canada’s sustainability plans to reach “net-zero by 2050”.

The program is supposed to allocate $800M over five years, starting in 2025-26. This government initiative aims to continue supporting energy-efficient upgrades in the residential market, focusing on low- to median-income Canadian households, including tenants.

How to Qualify for Rebates or Loans in Your Region

  • Install ENERGY STAR-Certified Windows: To be eligible for most rebate programs, homeowners need to choose energy-efficient windows that meet ENERGY STAR standards.
  • Home Energy Inspection: Government-backed programs require an energy audit before and after installation to assess the home’s energy profile and identify areas for improvement.

These incentives make upgrading more financially feasible, especially considering that energy-efficient window installations can provide a substantial return on investment. If you are curious about your local options, please check this guide about all window and door rebates in Canada.

Ecoline staff at head office in Calgary. Photo provided by Ecoline
Ecoline staff at head office in Calgary. Photo provided by Ecoline

Are Energy-Efficient Windows Worth the Initial Investment?

Keeping it short – absolutely! High ROI, annual energy bill savings, and maximizing comfort and home value are the ultimate benefits. But if you want to dig into the details, let’s quickly overview the stats. According to the Royal Bank of Canada (RBC) Home Value Estimator, window replacements yield an impressive ~70% ROI, making them one of the top-rated home renovation projects.

While high-end kitchen renovations, for example, can cost between $35,000 to $50,000, premium window replacements range from $7,500 to $10,000, offering a more affordable yet impactful upgrade with all the savings on energy bills (~12%) for the next 25 years (the average lifespan of quality windows) and the estimated increase in property market price, depending on the place of living. Even more so if you consider all the available rebates and loans in your region.

Wrapping Up

Energy-efficient window installations continue to play a pivotal role in transforming residential properties across Canada, offering a blend of economic, environmental, and lifestyle benefits.

With so many benefits and government incentives, investing in modern replacement windows is a powerful way for Canadian homeowners to improve their living environment, reduce energy expenses, and boost property value.

 

Looking to enhance your home’s comfort and energy efficiency with new windows? Visit https://www.ecolinewindows.ca to learn more!

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Calvert Commemorates 20th Anniversary of the Calvert Women’s Principles

 

Calverts Womens Principles 20 years reportCalvert Research and Management (Calvert) is pleased to announce the 20th anniversary of the Calvert Women’s Principles, the first global code of corporate conduct focused exclusively on advancing, protecting and investing in women. Developed in 2004 with the support of the United Nations, the Calvert Women’s Principles provide a set of standards for companies to measure progress and serve as a tangible indicator for investors to assess the evolution of gender equity in the corporate community.

“Developing the Calvert Women’s Principles was a significant step forward in 2004 and highlights the role corporations play in driving greater equality,” said Jade Huang, Chief Investment Officer, Calvert.

“The Women’s Principles remain both important and relevant today, serving as a guide for companies to advance equity and inclusion across their employee base while also offering investors a consistent framework to measure progress on a factor that influences company performance.”

Calvert research and academic studies indicate that gender diversity is financially material to equity returns for both U.S. and international large-cap markets, both at the board level and when evaluating equitable advancement opportunities.

Ms. Huang continued, “Fully embracing the Calvert Women’s Principles and building an equitable workforce can be a competitive advantage for corporations.”

Implementing the Calvert Women’s Principles may help companies create strong talent pipelines to ensure equity at all levels of employment.

They focus on seven key areas:

  1. Employment and compensation
  2. Work-life balance and career development
  3. Health, safety and freedom from violence
  4. Management and governance
  5. Business, supply chain and marketing practices
  6. Civic and community engagement
  7. Transparency and accountability

Gender equality has advanced significantly in the two decades since the development of the Calvert Women’s Principles but there is still more progress needed. Globally, companies have advanced female representation on corporate boards towards parity, with some regional differences.

In developed markets, large-cap companies generally exceeded the 30% female board representation threshold. Women remain underrepresented on corporate boards in emerging markets with about half the representation seen in developed markets. However, the broader trickle-down effect from increased gender diversity in the boardroom has not taken place as quickly as anticipated.

“Companies across the globe have made considerable progress incorporating the Calvert Women’s Principles and adhering to the basic tenants,” said Ms. Huang. “We see somewhat of a barbell with strong levels of gender parity at the board and employee level but lacking at the executive and senior management levels.”

 Key facts:

  • Women represent 47% of the U.S. workforce, but hold only 25% of senior-level positions
  • The female-to-male earnings ratio was 82.7% in 2023 for full-time, year-round U.S. workers.
  • In 2023, the S&P Global Market Total Index comprised approximately 15,000 c-suite roles, of which women represented 11.8% of those roles.
  • Research shows that closing the gender gap in labor force participation and management in Organization for Economic Co-operation and Development (OECD) countries could raise global economic activity by roughly $7 trillion.
  • The World Bank calculates that closing gender gaps in areas like employment and entrepreneurship could increase global gross domestic product by 20%.

“Company culture is an extremely important variable for success, yet difficult to measure,” Ms. Huang continued. “A culture that values different perspectives as a strength can often point to more positive outcomes. Having a framework like the Calvert Women’s Principles enables a more robust and balanced analysis that drives investment decisions focused on competitive returns and positive change.”

About Calvert Research and Management

Calvert Research and Management (Calvert) is a global leader in Responsible Investing, offering one of the largest and most diversified families of responsibly invested strategies. With over 40 years of experience, the firm seeks to generate favorable investment returns for clients by allocating capital consistent with environmental, social and governance best practices and through structured engagement with portfolio companies. Calvert is part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.

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Welcome to Global Galactics and The Spark at the Center of the Universe

By Timothy Karsten, Global Galactics

 

Timothy Karsten of Global GalacticsImagine a world where 10,000 families or more come together with one powerful mission: to protect our planet, explore the stars and raise a generation of young leaders who will help build a sustainable, compassionate future for Earth and beyond.

That’s the world we dream of, and it’s a future our planet needs. So, when Cliff kindly invited me to share our story, I was thrilled to tell you about Global Galactics and the incredible journey we’re on.

Global Galactics is more than an entertainment brand — it’s a mission-driven company with a purpose. We’re here to inspire the next generation of eco-conscious, empathetic leaders. Through our eco-friendly products, stories and resources, we’re helping families grow together in ways that make both our Earth and our minds healthier and ready for the future of space exploration.

At Global Galactics, we’re not only looking to nurture a love for Earth but also to inspire curiosity about the vast universe beyond. The galactic side of our brand encourages kids to look up, dream big and imagine a future where they might even explore the stars. With Sparky as their guide, children journey to distant planets and stars, learning that they’re part of a much larger story. Our stories and characters introduce them to the wonders of space, and we hope this sense of cosmic curiosity will inspire them to be thoughtful, courageous explorers — whether they’re discovering a new corner of Earth or looking to the skies for what lies beyond. By fostering an early connection to the galaxy, we’re preparing young minds for a future where Earth and space are interconnected, where their actions on our planet have a positive impact elsewhere.

Sustainability is at the heart of everything we create. From the eco-friendly materials in our products to the nature-inspired themes woven into each story, Global Galactics is designed to help children and families feel deeply connected to our planet. Through Sparky and his friends, we’re offering tools for self-leadership, relationship intelligence and environmental stewardship, empowering kids to become caring stewards of their own lives and the world around them.

This mission was inspired years ago by a spirited Jack Russell Terrier named Sparky, whom I found while living in Santa Fe, New Mexico. Sparky was more than a pet — he was a companion with boundless curiosity, an explorer at heart who brought out the childlike wonder in me. Together, we explored the natural wonders of the Southwest and beyond, from the US to Mexico, Canada, Europe, Asia, and Africa. My wife, Karinna, joined us on many of these journeys, and together, we found ourselves in incredible places, meeting marvelous people and learning from the world around us.

Sparky in Thailand with Timothy and Karinna Karsten, Global Galactics
Sparky in Thailand with Karinna and Timothy Karsten

Sparky and I often visited Teach for America classrooms in the U.S. and Asia, where we shared stories of our adventures, local wildlife and the importance of caring for animals with kids eager to learn. Sparky, in his own way, was a teacher, too — he showed kids what it meant to embrace curiosity, kindness and resilience. He lived a long, healthy life until the remarkable age of 18 years and 10 months, leaving us with an enduring legacy of exploration, compassion and a belief in the power of connection.

After Sparky’s long and joyful life, while spending time on the island of Huahine in French Polynesia, we were inspired by local youth programs to create Global Galactics — a children’s edutainment brand designed to bring families together in a journey of discovery. Partnering with students at the Savannah College of Art and Design (SCAD), we began developing characters and story concepts that bring our mission to life, combining adventure, education and empathy into a brand that inspires the next generation to become stewards of Earth and explorers of the universe.

Our first children’s book, The Spark at the Center of the Universe, invites young readers to join Sparky, the adventurous, galaxy-traveling pup, on an inspiring journey across the stars. Through encounters with creatures as small as an ant and as grand as a whale shark, Sparky discovers the incredible truth that every being is at the center of the universe—and that each of us has the power to protect it. This beautifully illustrated story encourages children to see the special importance in all living things and to become true “Global Galactics” — guardians of our planet and explorers of the wonders of the galaxy. Perfect for curious minds, the story sparks a love for nature, science, exploration and the connections that make our world and galaxy extraordinary.

Beyond the book, Global Galactics expands this mission with original songs that bring big ideas to life through music. Our song “Money Flows” uses a fun reggae groove to teach kids how money circulates through the economy, while “Community Disco” introduces the value of community and how people work together based on shared values and organizing principles. These songs engage kids and families alike, making it easy to learn these valuable concepts together.

Our content also includes Sparky’s Everyday Audio Adventures, a kid-friendly, everyday podcast where Sparky explores topics like community, mindful consumption and the circular economy. Each episode is designed to be short and engaging, offering children an entertaining way to connect with ideas that are foundational to sustainability and good citizenship. Our YouTube channel further expands these lessons, with sing-along videos, doodle-animated stories and educational content that children and parents can enjoy together.

For the founders out there, you know the challenges and joys of building a mission-driven venture. And for parents, we know how tough it is to find content that aligns with the future you envision for your children. That’s why we’re here to offer something unique: a blend of education, entertainment and hands-on lessons for building a better world.

We invite you to join us on this journey as we empower young leaders to look up, look within, reach out, and build a future rooted in sustainability and global citizenship. Thank you, Cliff, and to all the readers of The GreenMoney Journal, for giving us this opportunity to share our vision. Let’s make this a galac-tastic adventure together!

To learn more about Global Galactics, visit our website at www.globalgalactics.com and follow us on social media: Instagram, Facebook and YouTube

 

Article by Leadership expert and traveling adventurer Timothy Karsten who was inspired to create Global Galactics LLC by his own pup, Sparky, and their nineteen-year journey together across twenty-two countries and all across the United States. With a website that chronicled their travels, the pair took to schools in Los Angeles through Teach for America, along with visiting schools in India and Thailand with a film crew. The eye-opening result was a deep understanding of what was missing for kids. Global Galactics was created to make learning fun and entertaining, providing kids with information and tools to build self-esteem and understand themselves and their place in the world. He lives with his wife and creative partner, Karinna, in Coastal Georgia.

Additional Articles, Energy & Climate, Food & Farming, Impact Investing, Sustainable Business

Investing in Women in Leadership: Results Driven, Sustainable Impact Investing

By Patricia Lizarraga, Hypatia Capital and WCEO ETF

 

Patricia Lizarraga of Hypatia Capital and WCEO

When Hypatia Capital started investing in women in leadership, in 2007, there were only 10 women CEOs in the S&P 500. Today there are 50. Why is investing in companies with women who are Chief Executive Officers, considered impact and sustainable investing? Because they bring increased economic output, inclusivity, and performance.

Before we look at what we gain by investing in women in leadership, lets measure what we lose by not including women fully in the economy. Women represent close to 50% of the population but only 47% of the workforce. Every year, McKinsey and Lean In publish the Women in the Workforce report. This research shows that, if women were full participants in the economy, global GDP could increase by $12 trillion by 2025. To reach that higher sustainable growth rate, it is imperative that we develop more inclusive organizations and institutions. How? By having more inclusive leadership.

Are Women More Inclusive Leaders?

Inclusive leadership values and includes people from a variety of backgrounds and perspectives. The data tells us women are more inclusive leaders. Women CEOs have senior leadership teams that are 80% more diverse than men CEOs. Women CEOs have senior leadership teams that are 36% women, versus 20% women in men’s senior leadership teams. While women CEOs have senior leadership teams are two-thirds men, it is clear they are making greater strides in bringing more points of view into the leadership suite.

Hypatia Capital believes this gender-balanced vision at the top trickles down throughout organizations benefiting your sister, your daughter, your mother, your friend. We believe having more women CEOs is the fastest and most certain way to get women more equal opportunity in their workplaces. The data shows women are more likely to be promoted at a firm with a female CEO. But, because women are less than 10% of all CEOs, one’s chances of working at a firm that has a female CEO are low. Yet, an upward sloping career path makes permanence in the workforce more likely. Thus, the impact of a higher proportion of women CEOs is that women will feel more included, be more likely to stay in the workforce and be promoted. More women promoted? Elimination of the “broken rung”? That is impact.

The impact, however, is also to the bottom line. Data shows that companies with diverse leadership teams tend to perform better financially. According to Blackrock, the largest asset manager in the world, here are three key areas:

  1. Enhanced Financial Performance: Companies with gender diversity across all levels outperformed less diverse companies by an average of 1.2% between 2011 and 2022.
  2. Leadership Representation: Firms where middle management mirrors the overall workforce’s gender representation generated 36 basis points higher risk-adjusted monthly returns compared to peers with less diversity in these roles over 2016-2022.
  3. Cultural Impact: Companies with more women-friendly cultures, as indicated by longer average maternity leaves taken, showed an annualized excess return of 1.07% over the benchmark (Russell 1000 Index) over the past four years.

What’s the Fund?: Hypatia Women CEO ETF at the New York Stock Exchange

Hypatia Capital’s Journey to Sustainable Impact Investing

Hypatia started investing in women in leadership in 2007. While there is no single moment that sparked the concept, my one-time client Gilberte Beaux was certainly an inspiration. Having risen from the depths of a typing pool, she went on to be Sir Jimmy Goldsmiths’ COO, and later CEO of Adidas. At the time I met her in 2004, there were only 8 women CEOs in the Fortune 500. She was my first woman CEO client. She was amazing. I had my Jerry Maguire moment: More Female Clients.

In conducting research for the launch of Hypatia Capital, initially a boutique advisory and M&A firm focused on women in leadership, I discovered Golden Seeds, the pioneering early-stage investment company that shared our investment thesis: balanced leadership outperforms. I joined and invested in their first fund. I subsequently learned of Trish Costello’s vision of democratizing venture investing by offering funds with $10,000 minimums. I invested in Portfolia funds as well.

But why wasn’t there a product that was appropriate for the vast majority of investors? A product that had no income or net worth requirement? An investment one could exit easily? Was investing in women in leadership only for the wealthy?

In 2016, State Street launched the SHE ETF to “help address gender inequality in corporate America by offering investors an opportunity to create change with capital and seek a return on gender diversity.” I invested immediately, and still hold shares. But their three top holdings are: Meta, Apple and Microsoft. I believe it is the large cap algorithm that drives allocation, not the women focus.

In 2018, YWCA and Impact Shares launched the WOMN ETF. Again, I am a proud investor. I love their commitment to equality. But again, their large cap orientation makes their largest three holdings: Meta, Apple and Amazon.

WCEO: Only Women CEOs – Because Change Starts at the Top

In January 2023, Hypatia launched the WCEO ETF investing in American public companies that have a woman CEO. The WCEO ETF, the first exchange-traded fund focused solely on public companies led by women CEOs, invests in small caps, medium caps and large caps. Our algorithm delivers the Female Factor by eliminating size and industry. Its investment thesis is that female leaders will outperform. Given the additional obstacles women face in corporate America, as documented by McKinsey, they must be extraordinary versus the “average” CEO to make it to that cohort. Outperformance will come from delivering this Female Factor. In addition, by highlighting the performance of women CEOs, we hope to address the negative pattern-matching that affects both individual investors and the boards who have the all-important function of CEO selection. Arming both with performance data is crucial.

The Democratization of Access to Investing in Women in Leadership

Hypatia’s belief is that democracy and access are key to sustainability and impact. It is this belief that led us to design a product that was accessible to all investors. In fact, today, at approximately $31.00 for one share of the WCEO ETF, one invests 21 cents in every American public company with a female CEO, small, medium or large. The WCEO ETF allows all women to invest in all women in leadership. As far as we know, we are the only public product in the world that allows one to do so.

A Call to Action

The work we do in sustainable, impact investing is about building a better world. We have the chance to invest to reflect our values: equity, sustainability, and impact.

Women have a crucial role to play in this transformation. I encourage every woman to consider how to contribute to this movement. Whether you’re just starting your career or looking to pivot into the impact investing space, know that together we make a difference.

With every dollar we invest, every enterprise we support, and every barrier we break down, we are building a future where finance works for everyone.

 

Article by Patricia Lizarraga, the Managing Partner of Hypatia Capital and the visionary leader behind the WCEO ETF. She is committed to advancing female leadership in finance and business, as well as driving sustainable change through impact investing.

Additional Articles, Energy & Climate, Impact Investing, Sustainable Business

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