Tangible Frameworks & Tools: The programme equipped attendees with actionable strategies and practical tools through workshops & deep dives.
Real-world impact, Data & Opportunities: Investors were presented with the latest market insights and introduced to a select group of pre-screened impact strategies of institutional quality across different impact themes and asset classes.
Navigating Challenges: Leading impact and sustainable allocators addressed pressing issues, including the complexities of impact measurement and the proliferation of unaggregated indicators. They shared practical solutions to set clear impact goals and measure real-world results.
Community Collaboration: The Summit provided a platform for collaboration and idea exchange among a dedicated community committed to advancing the impact investing field.
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October 2025 l New York City
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HIGHLIGHTS 2024
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The 5th edition of Impact Summit America brought together a highly curated audience and some of the brightest minds in impact investing for another year of thought-provoking, meaningful discussions. Held on October 30, 2024, in New York City, this pivotal event convened institutional investors, impact fund managers, experts, and industry specialists to advance the field of impact investing.
UPHOLDING AGAINST HEADWINDS
The Summit’s theme was a resounding call to action, encouraging financial players to build resilience amid a constantly evolving landscape. Participants explored how to embody the values they champion while driving capital toward transformative solutions with even greater ambition. This new era of investing demands visionaries who also act as stewards, fostering environments where values thrive and deliver measurable global impact. The Summit’s agenda focused on three areas: Navigating Polarization, Standardizing Impact Metrics, Addressing Social Equity.
We extend our heartfelt gratitude to institutional investors, fund managers, partners, and supporters who made this event an impactful milestone in the evolution of sustainable finance.
We are excited to announce that the 6th edition of Impact Summit America will take place on October 16, 2025, in New York City. Thank you for being part of this incredible community, and we look forward to building on this year’s success together.
KEY HIGHLIGHTS
Keynote speech I Diversity, Equity, and Inclusion (DEI): Commitments vs. Reality.
Speaker:
Frank Altman, Forbes Author; Former President and CEO, Community Reinvestment Fund
Key takeaways:
Frank Altman emphasized the transformative power and necessity of diversity, equity, and inclusion (DEI) in society and finance, highlighting that diverse perspectives drive progress. Resistance to diversity often stems from misconceptions, such as equating it to quotas. Embracing diversity is essential for businesses to remain competitive, especially with demographic shifts where the U.S. will become a majority-minority country by 2045. He further explained, equity means addressing historical disparities and proactively including marginalized groups and how systemic barriers like limited access to capital and education must be dismantled for a fairer economy.
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The most important part of DEI is understanding what equity is, and in my view, it's fairness. Fairness is making sure that we treat people from where they are. And we have populations that have been pushed out for centuries of mainstream participation in our economy.
”
Investor panel I How different asset classes and investor types show resilience in their long-term investment strategy?
Speakers:
- Cynthia Muller, Director Mission Driven Investment, W.K. Kellogg Foundation
- Kunal Doshi, Chief Investment Officer, Accelerate Investment Group
- Pedro Henriques da Silva, Director, Shifting Trillions, The Sierra Club Foundation
- Rajith Sebastian, Head of ESG and Sustainable Investing, New York State Insurance Fund (NYSIF)
Moderator: Mark Hays, Director of Sustainable & Impact Investing, Glenmede
Key Takeaways:
A survey noted three key reasons for hesitancy among asset owners to invest sustainably: (1) perception of reduced returns, (2) lack of clarity on implementation, and (3) difficulty in measuring impact.
Cynthia Muller of the W.K. Kellogg Foundation described the use of a “learning portfolio” to test sustainable investment strategies, fostering internal alignment and generating valuable lessons for scaling impact.
Pedro Enriquez da Silva from the Sierra Club Foundation emphasized that systemic risks, particularly climate change and inequality, pose a threat not only to society but also to financial portfolios, urging integration of these risks into decision-making.
Rajiv Sebastian highlighted New York State's initiative to achieve net-zero emissions by 2040, showcasing how governance mandates can drive significant shifts in investment strategies.
Kunal Doshi noted that the clean energy transition now matches fossil fuel investment, framing sustainability as a critical operational risk for long-term resilience
Keynote speech | Impact Investing and the Macro-context
Speaker:
Pedro Antonio Guazo Alonso, Representative of the Secretary-General for Investments and Assets, United Nations Joint Staff Pension Fund (UNJSPF)
Key takeaways:
Pedro discusses the $96 billion UN pension fund and how they aim to integrate impact and ESG metrics across 100% of the portfolio, moving beyond fixed allocation targets and addressing challenges like adapting impact measurements across diverse asset classes. He also shares insights from attending COP16 on Nature and Biodiversity in Cali, Colombia, and the critical role of nature-based investments in achieving biodiversity targets and tackling climate change, estimating a need for $200 billion annually through 2030. While the opportunities in measurable, impactful biodiversity investments are vast, they stressed the challenges of fragmented projects, the need for larger-scale initiatives, and the importance of clear policies and de-risking mechanisms, especially for investments in the Global South. Pedro calls for collaboration among institutional investors, fund managers, and policymakers to scale and streamline impact investments, unlocking significant capital to meet global sustainability goals.
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We want all our portfolio to become impactful and responsible. Our aim is 100%—to align all our investments with measurable impact, because committing to just 1%, 5%, or even 20% will always raise the question: why so much or why so little.
Panel discussion I What are the right questions to ask your managers? Focus on listed equities
Speakers:
- Allie Bary, Vice President, J.P. Morgan Development Finance Institution
- Andrew Behar, CEO, As You Sow
- David Rowlett, Portfolio Manager U.S. Impact Equity, T. Rowe Price
- Evalinde Eelens, MBA MSC FRM CAIA, Professional Board Member Pension Funds; Founder, Ravenna Consulting
Moderator: Beth Collins, Managing Director, Impact Investing, Catholic Relief Services
Key Takeaways:
The discussion highlights the ongoing evolution of responsible investing, which is likened to a "teenager" maturing into a more structured and effective approach, though it still faces significant challenges. Key issues include the widespread use of flawed or misleading data, particularly from large databases, and the need for better maintenance and transparency in non-profit-generated sustainability data. Despite these hurdles, there are signs of progress, with industry initiatives like SASB and ISS working toward creating clearer standards. However, responsible investing is encountering substantial political opposition, particularly from powerful industries like oil, which are using significant resources to undermine ESG efforts. Investors are urged to be diligent, ask the right questions, and ensure that their engagements with companies are meaningful and impactful, not just performative. Shareholder activism is seen as a critical tool, with the ability to replace boards and hold companies accountable for their actions. Ultimately, transparency, accountability, and a willingness to take action are central to driving positive change, as investors must scrutinize not only the positive impacts of companies but also their negative ones. This collective effort is crucial in transitioning toward a regenerative economy, with companies that prioritize sustainability expected to thrive in the long term.
Case study | Endowments Impact Benchmarks
Speakers:
- Georges Dyer, Co-founder and Executive Director, Intentional Endowments Network & the Crane Institute of Sustainability
- Pedro Henriques da Silva, Director, Shifting Trillions, The Sierra Club Foundation
Key takeaways:
The discussion emphasized the importance of the Endowment Impact Benchmark (EIB) process in prompting organizations to reflect on their achievements in sustainable investing, particularly by comparing their strategies and transparency levels with peer institutions. Key to the process is the focus on field-building and collaboration, where asset owners contribute to broader change through knowledge-sharing and co-investment in transformative strategies. Challenges arose in the verification process, especially for organizations with unique approaches, such as those prioritizing environmental justice or alternative net-zero strategies, highlighting the need for more nuanced, adaptable frameworks.
The conversation also touched on the significance of explicitly addressing issues like justice, equity, diversity, inclusion, and climate in investment practices, while recognizing the political and social pressures—like "green hushing" and divisive divestment movements—that may affect ESG initiatives. Despite these headwinds, the consensus was that long-term investors would continue to advance sustainable practices, with the hope that increasing transparency and peer pressure through public EIB ratings will foster a race to the top in sustainable investing. Overall, the EIB process aims to drive meaningful change by emphasizing accountability, collaboration, and the integration of social and environmental impact into investment strategies.
Case Study I Conducting thorough due diligence throughout the manager selection process
Speakers:
Ander Iruretagoyena, Vice President- Funds & Co-Investments, The Impact Engine
Key Takeaways:
Impact Engine evaluates whether a fund meets its impact criteria by focusing on two main factors: the managers' intentionality and the impact of their portfolio companies. The firm prioritizes investments where the product or service directly addresses societal issues, ensuring that financial growth aligns with positive social outcomes. Their evaluation process involves a scorecard with six key dimensions: intentionality, thesis, alpha, process, management and measurement, and considerations. This framework assesses how well managers incorporate impact into their strategies, manage it over time, and measure progress. By focusing on both effectiveness and accessibility, Impact Engine aims to make investments that contribute to equity, demonstrating that impact investing can deliver strong financial returns without compromising social good.
“Happiness is when you have integrity between what you say, what you do, and what you think.
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Breakout session B1 I Scaling capital for climate equity: aligning investment with Racial, Gender, and Environmental Justice
Speakers:
- Enith Williams, Executive Director, Reparations Finance Lab
- Jyoti Aggarwala, Principal, Private Capital Raise
- Tara Roth, President, Goldhirsh Foundation
- Karen Sunderam, Investment Strategist, ImpactAssets Capital Partners
Moderator Richard Zimmerman, Partner, WE Family Offices
Key takeaways:
This discussion highlights the growing importance of inclusive and intentional investments, especially in the context of addressing global challenges like climate change, inequality, and financial exclusion. Key themes include the need for capital inclusiveness, which ensures emerging economies and marginalized communities have access to financial opportunities. Private-public partnerships were emphasized as essential for scaling impactful projects, while the value of place-based approaches to investment was highlighted for fostering community engagement and creating strategic collaborations. Additionally, the conversation underscored the trade-off between market-rate and below-market investments, showing how financial returns can coexist with positive social and environmental impacts. The importance of empowering diverse decision-makers, particularly women and people of color, in shaping investment strategies was also discussed, along with the need to improve financial literacy and create pathways into finance and climate-related jobs for historically excluded groups. The overall message is that achieving systemic change requires a multi-faceted approach involving various sectors, community collaboration, and innovative tools to measure and track impact.
Karen: “Certain groups have been disproportionately impacted by climate change. That's what climate justice is all about. And the solutions need to be Co created with those people, with their with their ideas and then really helping to serve those communities.’’
Tara: ‘’ we bring the voices and forces they may not have been to the table to the table. And we want to look across the board at everything that we do, not just climate, but also in education reform and civic activism and how those intersect and work together”
Jyoti: “if you're looking at a mitigation strategy, if you're looking at an adaptation strategy, climate justice should still be a lens that you take.’’
Enith: ‘’I think about being reparative and also really think about where, why are we even having to think about racial equity? And it's because we've had an uneven playing field that's been facilitated by public policy and private capital.’’
Breakout session B2 l Biodiversity: life on land and underwater
Speakers:
- Amantia Muhedini, Executive Director, Sustainable & Impact Investing Strategist, UBS Wealth Management Chief Investment Office
- Sunit Shah, Vice President, Private Equity Partnerships, Blue Earth Capital
- Panos Smyrnios, Foreign Affairs Specialist, NOAA Fisheries
Moderator: Josh Torres, Manager, Sustainable Finance, Environmental Defense Fund
Key Takeaways:
The discussion underscored the urgent need for innovative solutions, funding, and partnerships to combat biodiversity loss. Partnerships, especially with NGOs and governments, were deemed essential for achieving sustainable, large-scale impact. However, a significant $900 billion annual financing gap hinders progress, and creative funding mechanisms like public-private partnerships, wildlife conservation bonds, and high-quality carbon credits were suggested as potential pathways. The panel also emphasized the importance of better data and regulatory frameworks to attract investment and scale biodiversity projects. Scalable opportunities in sectors like forestry, regenerative agriculture, and aquaculture were highlighted, though challenges in measurement, additionality, and return on investment persist. Achieving ambitious goals like the 30x30 target within five years requires immediate action, innovative thinking, and collective commitment across public, private, and nonprofit sectors.
Panos: “There’s not a lot of returns right now. There can be, but the risks are super high if we don’t do it right. So considering investing in nature and for nature is really important.” (Highlighting the challenges and opportunities within biodiversity investments.)
Sunit: “73% of biodiversity has been lost in the last 50 years, and these are pretty irreversible crises... we need the public sector to step up and get things moving in the near term.”
(This highlights the dire state of biodiversity loss and the urgent need for public intervention.)
(This highlights the dire state of biodiversity loss and the urgent need for public intervention.)
Amantia: “I think what’s needed is regulation that aligns incentives, much like in the climate investment space, to help unlock funding for biodiversity projects.”
(This emphasizes the importance of regulation and incentives for driving investment into biodiversity.)
(This emphasizes the importance of regulation and incentives for driving investment into biodiversity.)
Investors’ breakfast workshop | Phenix Impact Investing Academy: Navigating Ethical Dilemmas in Impact Investing
Speakers:
- Carol Tarr, Head of Impact Programs & Collaborations, Phenix Capital Group
- Kate Walsh, Director, Training and Accreditation, The GIIN
- Marie-Celine Damnon, Investment Associate, Capricorn Investment Group
Key takeaways:
Designed specifically for executives and senior decision-makers in the impact investing industry, this workshop goes beyond the conventional focus on values-aligned portfolios to delve into the ethical complexities and strategic quandaries of adverse impacts faced by impact investors.
Through engaging, interactive scenario-based "what would you do" discussions, we will challenge participants to reconcile points of contention between values alignment and logic models for change while striving to optimize financial returns. We also dive into a case study to further understand the broader implications for individuals and communities, testing the delicate balance between profit maximization and ethical responsibility. This workshop is crafted to stimulate deep discussion, inspire innovative solutions, and enhance strategic decision-making in the impact investing sector.
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.png?width=210&name=Untitled%20design%20(11).png "The GIIN")
.png?width=210&name=Impact%20capital%20managers%20logo%20(1).png "Impact Capital Managers")
.png?width=210&name=Impact%20frontiers%20logo%20(1).png "Impact Frontiers")
.png?width=2000&height=1010&name=Events%20and%20audience%20map%20%20(9).png "Events and audience map")