Heard on the Street: Bono and TPG measure impact investing, the Business Equity Initiative, and the problem with ESG investing

By January 28, 2019 March 5th, 2019 Heard on the Street

Heard on the Street – here’s what we were reading last week:

Strengthening the black and Latino entrepreneurial class: An overview of the impact of the Business Equity Initiative, which focuses on supporting black and Latino enterprises as a means of narrowing the wealth gap in Boston.

U2’s Bono and TPG Launch Company to Measure ‘Impact Investments’: The U2 frontman and his business partners at the U.S. private-equity firm announced a new company called Y Analytics, which will use a method they developed to measure social and environmental change created by investments.

$4.5 million Wilson Foundation gift will support startup investments: Launch NY has rapidly become a formidable investment entity in Central and Western New York since starting its nonprofit seed fund in 2016. Now it’s set to turbocharge those efforts with a $4.5 million gift from the Ralph C. Wilson Jr. Foundation.

If ‘ESG investing’ is so great, why is the world going to hell?: The three-letter acronym for “environmental, social and governance” has broken out from the wonky world of finance and into subway ads and online pitches for a slew of new ESG mutual funds, ETFs and other financial services. But does it really make any difference in the real world?