Each of the bonds that we select for the portfolio must meet our stringent impact and financial criteria.
Our impact criteria include:
The use of the proceeds must positively impact a community in one or more ways. The areas of focus (what we call “impact themes”) include: affordable health/rehab care, affordable housing, arts & culture, disaster recovery, education/childcare, enterprise development/jobs, environmental sustainability, gender lens, government supported communities, healthy communities, human empowerment, minority neighborhoods, neighborhood revitalization, rural community development, seniors/disabled, sustainable agriculture, and transit-oriented development.
Transparency into the use of the bond’s proceeds. Without that transparency, we might never know whether the funds raised will provide the positive impact our clients are seeking. Ability to quantify the expected impact and/or explain the qualitative benefits of the investment. Quantitative data can include the number of jobs created or the number of affordable housing units as well as dollar amounts invested in impact themes. Qualitative research is the “story,” so to speak, which includes detailed explanations of what the bond is financing.