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A New Capitalism

  • Investing in Inclusive Capitalism: Roy Swan's Vision for the Ford Foundation (Part Two)

    25 JUN. 2024 · In the second half of the compelling discussion, Roy Swan dives deeper into the pioneering impact investments being made by the Ford Foundation's Mission Investments Program. He provides illuminating examples from their portfolio, ranging from affordable multi-family housing funds to innovative fintech companies quantifying corporate externalities. Roy shares the investment criteria they use, with a typical minimum of $1 million and flexibility to back proven fund managers at various scales. He is candid about the need for more consolidation among small CDFIs to drive greater impact at scale. The conversation turns to the vital importance of serving long-overlooked rural communities through creative, solutions-oriented capital. Looking ahead, Roy offers his perspective on the future of impact investing. While facing backlash in the U.S., he sees the global impact investing movement rapidly gaining momentum. Roy envisions the Ford Foundation playing an influential role as a trusted voice promoting "patriotic capitalism" that generates returns while benefiting society. The episode concludes with Roy's inspiring vision of steering more capital towards investments that create inclusive prosperity. His insights leave listeners with an appreciation for impact investing as a powerful means to build a more just, equitable economy that unlocks human potential.
    Escuchado 23m 44s
  • Investing in Inclusive Capitalism: Roy Swan's Vision for the Ford Foundation (Part One)

    18 JUN. 2024 · In this inspiring episode, Frank has a candid conversation with Roy Swan, the inaugural head of the Ford Foundation's Mission Investments Program. With a career spanning finance, banking, investments, and law, Roy provides incredible insights into using capital for positive social and environmental impact. Roy shares his surprising path from Morgan Stanley to joining the Ford Foundation and overseeing the innovative program that utilizes the foundation's full $16 billion endowment for mission-aligned investing. He dives into the critical distinction between program-related investments using grants and mission investments from the endowment aimed at market-rate returns with impact. The episode explores the Ford Foundation's priorities and strategies for creating inclusive capitalism. Roy passionately discusses investing in quality jobs that engage workers as valued assets rather than expenses. He advocates for increasing diversity among fund managers as a financial imperative, given the massive economic cost of a lack of access to capital for women and people of color. Through thoughtful examples and data, Roy makes a compelling case that patriotic capitalism benefiting society is not at odds with financial returns. His vision sees investing in capital to address major social challenges like inequality and climate change as an arbitrage opportunity. The episode is an inspiring call for investors to seek both profit and progress in building a more just, inclusive economy.
    Escuchado 24m 26s
  • Scaling Impact Investing to Address Society's Greatest Challenges with Amit Bouri, CEO of GIIN (Part Two)

    28 MAY. 2024 · In the second part of this insightful discussion, Frank and Amit Bouri, CEO of the Global Impact Investing Network (GIIN), explore key challenges and opportunities facing the impact investing field as it continues to gain mainstream momentum. They discuss the vital roles of governments and foundations in de-risking new business models and investment opportunities in underserved communities. Amit provides powerful examples of innovative companies bringing affordable clean energy, food security, and economic empowerment to families through novel financing approaches. The conversation dives into the importance of rigorous impact measurement to track real-world outcomes beyond just outputs. Amit shares the GIIN's IRIS+ system and works to promote systemic investing strategies. He emphasizes the need for a long-term, dynamic perspective to enhance resilience in complex systems like food and agriculture.  Addressing doubts around fiduciary duty, Amit makes a compelling case that impact investing aligns with investors' obligations by supporting a stable, sustainable economy and planet—essential for delivering solid long-term returns.  As impact investing evolves from niche to mainstream, this candid dialogue outlines steps to overcome roadblocks and fulfill its transformative potential to fundamentally reshape capitalism into a more inclusive, just, and regenerative economic system.
    Escuchado 25m 55s
  • Scaling Impact Investing to Address Society's Greatest Challenges with Amit Bouri, CEO of GIIN (Part One)

    21 MAY. 2024 · In this episode, Frank is joined by Amit Bouri, the CEO and co-founder of the Global Impact Investing Network (GIIN). They discuss how impact investing—investments made to generate positive social and environmental impact alongside financial returns—can be a powerful force to tackle major issues like climate change, inequality, affordable housing, and more. Amit shares his inspiration for co-founding the GIIN and this nonprofit's critical role in increasing the scale and effectiveness of impact investing globally. He explains the GIIN's nine principles for investors to integrate impact into their full investment lifecycle with integrity. The conversation dives into strategies for mainstream impact investing, engaging mainstream financial institutions, and opening pathways for individual investors. Amit emphasizes the importance of advocating for public policies that steer more capital toward impactful solutions while protecting everyday individuals. As impact investing continues to evolve, this engaging discussion explores its potential as a transformative approach to reshaping capitalism into a system that creates value for all stakeholders and regenerates communities and the planet.
    Escuchado 28m 4s
  • Investing for Good: Pioneering Impact Investments with Kimberlee Cornett (Part Two)

    30 ABR. 2024 · In the second part of this episode of "A New Capitalism with Frank Altman," Frank dives deeper into the role of environmental, social, and governance (ESG) investing, drawing from insights in his book. He unpacks the concept of ESG investing, exploring how it integrates environmental sustainability, social responsibility, and corporate governance into investment decisions, driving positive societal and environmental impact alongside financial returns. Frank and Kimberlee Cornett also delve into the critical issue of social determinants of health, illuminating how factors like income, education, housing, and access to nutritious food profoundly influence individual and community well-being. They discuss the innovative investments organizations are making outside of traditional healthcare sectors to address these determinants, from affordable housing initiatives to education and community development programs. Furthermore, Kimberlee shares her perspectives on the importance of innovation in impact investing, emphasizing the need for creative approaches to address complex social and environmental challenges. Join Frank Altman and Kimberlee Cornett as they explore the intersections of finance, social impact, and innovation, inspiring listeners to rethink traditional investment paradigms and harness the power of capital for positive change.
    Escuchado 23m 59s
  • Investing for Good: Pioneering Impact Investments with Kimberlee Cornett (Part One)

    23 ABR. 2024 · In this episode of "A New Capitalism," Frank delves into the transformative potential of capitalism with his guest, Kimberlee Cornett, Senior Director of Impact Investments at the Robert Wood Johnson Foundation.  Kimberlee shares her insights and experiences in pioneering innovative financing models, such as pay-for-performance, to fund critical services and affordable housing. As a passionate community leader, Kimberlee brings a wealth of knowledge to the discussion, drawing from her extensive background serving on the boards of Habitat for Humanity International and The Conservation Fund. Throughout the episode, Frank and Kimberlee explore practical steps individuals can take to make a positive impact with their money, highlighting real-world examples of how investments can drive positive change in under-resourced communities Join Frank Altman and Kimberlee Cornett on "A New Capitalism" as they inspire listeners to reimagine capitalism and take action towards building a more just and equitable economy for all.
    Escuchado 18m 37s
  • Revitalizing Roots: Nourishing Communities through Indigenous Foodways with Chef Sean Sherman (Part Two)

    19 DIC. 2023 · In part two, Sean dives deeper into the impact of creating jobs and economic opportunities for Indigenous communities. He explains how hiring Native workers and sourcing ingredients from local tribes and producers directly benefits those communities. Sean emphasizes the importance of keeping dollars circulating within Indigenous economies and how his business models a reciprocal relationship between restaurants and providers. He shares insights from opening his restaurant during COVID and how pandemic difficulties highlighted the need for more Indigenous food security networks. Throughout the conversation, Sean and Frank unpack the potential for Indigenous-led businesses to catalyze systemic changes and create a new, more cooperative capitalism. Tune in to hear Sean's wisdom on nurturing community resilience through food entrepreneurship grounded in Indigenous values. About Chef Sean Sherman: A member of the Oglala Lakota tribe, Chef Sean Sherman focuses on the revitalization and evolution of Indigenous foods systems throughout North America. Through his activism and advocacy, Sean is helping to reclaim and celebrate the rich culinary heritage of Indigenous communities around the world. Sean has dedicated his career to supporting and promoting Indigenous food systems and Native food sovereignty. His goal is to make Indigenous foods more accessible to as many communities as possible through the non-profit North American Traditional Indigenous Food Systems (NĀTIFS) and its Indigenous Food Lab professional Indigenous kitchen and training center. Working to address the economic and health crises affecting Native communities by re-establishing Native foodways, NĀTIFS imagines a new North American food system that generates wealth and improves health in Native communities through food-related enterprises. Sean’s first book, The Sioux Chef’s Indigenous Kitchen, received the James Beard Award for Best American Cookbook in 2018, and he was given the 2019 Leadership Award from the James Beard Foundation. In 2021, Sean opened Minnesota’s first full service Indigenous restaurant, Owamni, which received the 2022 James Beard Award for Best New Restaurant in America on top of numerous awards nationwide. Sean has just been named one of the Time 100 Most Influential People of 2023. For more visit his website seansherman.com.
    Escuchado 15m 51s
  • Revitalizing Roots: Nourishing Communities through Indigenous Foodways with Chef Sean Sherman (Part One)

    12 DIC. 2023 · This week Frank is joined by Chef Sean Sherman to discuss Indigenous foodways, cultural revitalization, and building a new capitalism rooted in reciprocity. Sean shares his powerful vision for reconnecting people and communities to Native foods and food sovereignty. Sean and Frank explore innovative models for sustainable local economies that support Indigenous producers and challenge extractive capitalist practices. Tune in for an energizing conversation about the intersections of food, culture, and business and how we can come together to nourish and empower all people. About Chef Sean Sherman: A member of the Oglala Lakota tribe, Chef Sean Sherman focuses on the revitalization and evolution of Indigenous foods systems throughout North America. Through his activism and advocacy, Sean is helping to reclaim and celebrate the rich culinary heritage of Indigenous communities around the world. Sean has dedicated his career to supporting and promoting Indigenous food systems and Native food sovereignty. His goal is to make Indigenous foods more accessible to as many communities as possible through the non-profit North American Traditional Indigenous Food Systems (NĀTIFS) and its Indigenous Food Lab professional Indigenous kitchen and training center. Working to address the economic and health crises affecting Native communities by re-establishing Native foodways, NĀTIFS imagines a new North American food system that generates wealth and improves health in Native communities through food-related enterprises. Sean’s first book, The Sioux Chef’s Indigenous Kitchen, received the James Beard Award for Best American Cookbook in 2018, and he was given the 2019 Leadership Award from the James Beard Foundation. In 2021, Sean opened Minnesota’s first full service Indigenous restaurant, Owamni, which received the 2022 James Beard Award for Best New Restaurant in America on top of numerous awards nationwide. Sean has just been named one of the Time 100 Most Influential People of 2023. For more visit his website seansherman.com.
    Escuchado 16m 53s
  • Decades of Impact: Tim Smith's Journey in Responsible Investing and Corporate Advocacy (Part Two)

    21 NOV. 2023 · In this second part of this episode, Frank and Tim dig into the "E" in ESG—the environment. With climate change an increasingly urgent issue, they discuss the vital role of responsible investing in driving corporate accountability for environmental impacts. Tim also reflects on his decades of leadership while underscoring the collective responsibility we all share in building a sustainable future. About Tim Smith: For anyone remotely connected to responsible investing or corporate responsibility, Tim Smith requires little to no introduction. He is one of ICCR’s founding staff members and has been a leader in our field for over five decades.Tim currently serves as ICCR's Senior Policy Advisor, where he supports ICCR’s work around responsible political engagement, deepening engagements with asset managers, and responding to the pushback on ESG, as well as serving as a mentor for ICCR members and staff.Tim served on the ICCR staff for 30 years, including 24 years as its Executive Director. In 2000, Tim joined Boston Trust Walden where he led the organization’s shareholder engagement efforts for 22 years. In 2007, 2012, and 2013, Tim was named one of the “Top 100 Most Influential People in Business Ethics” by the Ethisphere Institute. In 2010, he received the Bavaria Award for Impact at the third annual Joan Bavaria Awards for Building Sustainability into the Capital Markets. In 2011 and 2012, he was named one of the most influential people in corporate governance by the National Association of Corporate Directors, and in 2016, Tim received the ICCR’s Legacy Award for his enduring record of demonstrated influence on corporate policies.Tim has served on multiple boards and chaired advisory councils for several different institutions. He currently serves as chair for Shared Interest, which mobilizes economic resources for communities in Southern Africa.Tim earned a BA from the University of Toronto and a Masters of Divinity degree from Union Theological Seminary.
    Escuchado 27m
  • Decades of Impact: Tim Smith's Journey in Responsible Investing and Corporate Advocacy (Part One)

    14 NOV. 2023 · Tim Smith has been a pioneer in responsible investing and corporate accountability. As a co-founder of the Interfaith Center on Corporate Responsibility, or ICCR, he helped spearhead the use of shareholder advocacy to press companies on critical issues. During his 24 years as ICCR’s Executive Director and now as Senior Policy Advisor, Tim has led hundreds of corporate engagements and negotiated shareholder resolutions, driving positive change. In this episode, Frank speaks with the legendary Tim Smith. He is one of ICCR’s founding staff members and has been a leader in the field for over five decades. Tim currently serves as ICCR's Senior Policy Advisor, where he supports ICCR’s work around responsible political engagement, deepening engagements with asset managers, and responding to the pushback on ESG, as well as serving as a mentor for ICCR members and staff. Tune in to hear Frank Altman's insightful conversation with the influential corporate responsibility champion, Tim Smith. About Tim Smith: For anyone remotely connected to responsible investing or corporate responsibility, Tim Smith requires little to no introduction. He is one of ICCR’s founding staff members and has been a leader in our field for over five decades.Tim currently serves as ICCR's Senior Policy Advisor, where he supports ICCR’s work around responsible political engagement, deepening engagements with asset managers, and responding to the pushback on ESG, as well as serving as a mentor for ICCR members and staff.Tim served on the ICCR staff for 30 years, including 24 years as its Executive Director. In 2000, Tim joined Boston Trust Walden where he led the organization’s shareholder engagement efforts for 22 years. In 2007, 2012, and 2013, Tim was named one of the “Top 100 Most Influential People in Business Ethics” by the Ethisphere Institute. In 2010, he received the Bavaria Award for Impact at the third annual Joan Bavaria Awards for Building Sustainability into the Capital Markets. In 2011 and 2012, he was named one of the most influential people in corporate governance by the National Association of Corporate Directors, and in 2016, Tim received the ICCR’s Legacy Award for his enduring record of demonstrated influence on corporate policies.Tim has served on multiple boards and chaired advisory councils for several different institutions. He currently serves as chair for Shared Interest, which mobilizes economic resources for communities in Southern Africa.Tim earned a BA from the University of Toronto and a Masters of Divinity degree from Union Theological Seminary.
    Escuchado 26m 16s

What if capitalism could work for everyone, not just the privileged few? What if we could create a just economy that works for all? A New Capitalism with Frank Altman...

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What if capitalism could work for everyone, not just the privileged few? What if we could create a just economy that works for all? A New Capitalism with Frank Altman explores answers to these questions through stimulating conversations with leading change makers in the environmental and social impact investing movement. He focuses on the practical steps that you can take to make a positive difference with your money. Altman is a pioneer in the field of community development finance. Over an illustrious 35-year career as founder and CEO of Community Reinvestment Fund, USA, he has created market solutions to drive investments to under-resourced communities. CRF has since financed thousands of job-creating small businesses, owned primarily by women and people of color, community facilities, and affordable housing in more than 1,000 primarily low-income communities in all 50 states. A New Capitalism is a production of Forbes Books.
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