What is Giving Compass?
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Giving Compass' Take:
• Ibrahim AlHusseini argues that helping young people get involved in impact investing can help to divert the impending climate change crisis.
• Is this solution practical and efficient? How can funders help to advance impact investing?
• Read more about impact investing on Giving Compass.
Ibrahim AlHusseini is setting out to revolutionize the field of social impact.
There is currently a $2.5 trillion financing gap that needs to be filled to achieve Sustainable Development Goals, such as tackling climate change. AlHusseini thinks that by harnessing the power of Main Street investors, we can start to close the gap and positively affect the growing wealth divide.
"For social impact to really make it to the next level, we need everyone to get involved, not just the institutional investors," he explained. "In fact, I'm convinced that the only way to tackle the greatest challenges of our time, especially climate change, will be to engage normal everyday people as investors. If we can deploy small amounts of capital on a huge scale, we can make the create so much more impact than government or institutional investors alone."
Today, about three-quarters of Americans know nothing about social impact funds, with just ten percent reporting they have invested in these funds. However, millions are interested in investing in social impact ventures -- young people, in particular. And at the same time, more Americans than ever are interested in taking action to tackle the climate crisis.
Read the full article about impact investing for climate change at MSNBC.