Editor’s note: This post is part of our Domestic Financial Innovation series – click here to read other posts in the series.
NextBillion is based in Ann Arbor, Mich., about a half-hour drive from what many people consider to be America’s poster child for domestic poverty and urban decay: Detroit.
The city’s challenges – from its declining population to the ongoing fallout from its 2013 bankruptcy – are well-known. But on a more positive (though less publicized) note, an increasing number of innovative public and private solutions are emerging that address the many intractable problems Detroit is facing. Combined with a growing focus on domestic poverty in America’s political and media landscapes (not to mention its financial industry), it’s possible that the coming years could see cities like Detroit finally start to turn the corner.
That’s why we were excited to have the opportunity to speak with Margot Kane, vice president of Strategic Initiatives at Calvert Foundation. She manages strategy development, fundraising and implementation of new investment initiatives and portfolios that target key impact areas at Calvert. One of these impact areas is the revitalization of iconic cities, which Calvert is addressing through its recently launched Ours To Own movement. Ours To Own, which Kane had a lead role in designing, lets individual citizens invest directly in small businesses and community development in the cities where they live. Though the movement is in its early stages and hasn’t yet come to Detroit, we’re excited by its potential. It’s one of the ways Calvert is helping to build the impact investment economy, through targeted products that connect investors to the causes and areas they care most about.
On Thursday, Aug. 7, at 1 p.m. Eastern (U.S.) Time, we spoke with Kane about Ours to Own and other Calvert initiatives, the issues they address, and the challenges facing impact investing as it moves gradually toward the mainstream. You can watch the Q&A below.
