In the wake of last month’s inauguration, we have reason to be optimistic that the incoming administration will enact positive environmental, social and governance measures. And we are already seeing movement in this regard.
Riverwater was founded with the mission to make the world a better place by growing wealth through sustainable investing. Guided by this purpose, we embrace the opportunity to work towards real and lasting change, an objective more urgent than ever. As a proud member of US SIF: The Forum for Sustainable and Responsible Investment, we applaud their ongoing efforts to work towards a more just and sustainable economy.
US SIF announced recommendations for the next presidential administration this past fall, aiming to provide a framework through which the private sector can contribute alongside government’s leadership to address the many pressing crises this country faces.
The comprehensive document includes eight overarching recommendations:
- Create a White House Office of Sustainable Finance and Business
- Appoint leadership at the Securities and Exchange Commission (SEC) and the Department of Labor (DOL) with sustainable investment expertise
- The SEC should take action on policies that support sustainable investment
- The DOL should take action on policies that support sustainable investment
- The federal thrift retirement board should accelerate implementation of a mutual fund window
- Appropriate additional funds for the Community Development Financial Institutions (CDFI) Fund
- Take action to address the climate change crisis
- Take action to address economic inequality
Since it became evident that Biden will lead the next administration, US SIF has focused on the President’s focus on climate change, as well as the possibility that Biden’s presidency could be a “game changer” for impact investing, as Lorie Konish wrote in CNBC. In the same article, US SIF CEO Lisa Woll commented, “There is no doubt in my mind that climate will be an incredibly strong focus, perhaps an almost singular focus along with addressing Covid.”