This post was originally produced for Forbes.
At a meeting of the U.S. Advisory Board and G7′s Social Impact Investing Taskforce at the White House last month, Prudential committed to build a $1 billion impact investment portfolio by 2020.
“Impact investing uses the power of markets to unleash private capital for public good. Done well, it can scale sustainable solutions to some of our toughest social challenges, such as affordable housing, clean energy, quality education, and workforce development,” said Matt Bannick, Co-Chair of the US National Advisory Board and Managing Partner at Omidyar Network, in a statement following the event. “Impact investing has been a part of the fabric of social and community development finance in the US for decades. But we have only begun to see a glimpse of its promise, and smart public policy will help us get where we need to be.”
Following the event, the National Advisory Board made several policy recommendations:
Remove regulatory barriers
Increase the…