Harriet Davies
Editor - Family Wealth Report
21 October 2011
Daily News Analysis
New York-headquartered Rockefeller Financial is partnering with The Ocean Foundation, a non-profit organization, to launch a sustainable investing initiative targeting the health of the world’s oceans.
The collaboration will seek to identify profitable investment opportunities “that restore and support the health and sustainability of the world's oceans,” Rockefeller said in a statement.
The Ocean Foundation will provide Rockefeller with research on marine trends, risks and opportunities, as well as thought leadership on marine conservation, which the wealth management firm will then integrate with its asset management capabilities to identify “best-in-class public companies whose businesses are involved across the broad spectrum of the ocean network globally,” it said.
Investment opportunities will cover a diverse range of industries including maritime transportation, manufacturing and industrial services, healthcare, ocean energy, and water and wastewater utilities.
The initiative is symptomatic of the movement in philanthropy towards “mission investing,” as the lines between financial and social returns blur. Strategies such as socially responsible or sustainable investing (SRI), impact investing and program-related investing are all forms of mission investing, according to Meg Lassar, an analyst at Chicago-based Strategic Philanthropy.
As Lassar recently pointed out in Family Wealth Report, family foundations in the US are increasingly looking at how their total assets can be leveraged to achieve their social goals, going beyond the typical grant-making/financial returns split model. The issue is especially important as financial markets bite, and wealthy individuals are looking to get the most bang for their buck in their investment and philanthropic activities.
For example, the partnership between Rockefeller and The Ocean Foundation is looking to achieve the dual goals of providing attractive investment opportunities and supporting environmental sustainability, according to Mark Spalding, president of the non-profit organization.
To view a recent article from Strategic Philanthropy on mission investing, click here.
