IRS Rules That Impact Investment Fund Is Not Charitable Activity
- Over the last decade, impact investing has become a significant focus of many nonprofits, just as it has captured the attention of investors who care about social benefit or environmental results as much as financial results. The IRS recently issued a ruling that is... ›
SASB and GRI Team Up to Tackle the Opaque Landscape of ESG Reporting
By: Alfredo B. D. Silva
The year 2020 was already predicted to be a year of heightened focus on environmental, social, and governance (ESG) topics for public companies—and that was before the COVID-19 pandemic and widespread protests galvanized by the Black Lives Matter movement increased the call for corporate... ›ESG Goes Mainstream: How “Return First” PE Funds Can Factor ESG Considerations into Their Investment and Portfolio Management Strategies
By: Susan H. Mac Cormac
Considering environmental, social, and governance (ESG) factors when making an investment is no longer solely the province of “impact-first” investors—those who prioritize social or environmental impact above return on capital—but has become, to one degree or another, the norm among private equity (PE) funds.... ›COVID’s Impact on PBC Fiduciary Duties: Understanding Director Obligations in an Economic Downturn
By: Alfredo B. D. Silva
In August 2019, a group of nearly 200 chief executives issued a statement, arguing that the role of corporations should be redefined from solely maximizing shareholder value to also “invest[ing] in their employees, protect[ing] the environment and deal[ing] fairly and ethically with their suppliers.” Making... ›Impactful Conversations: An Interview with Rodney Foxworth at Common Future
By: Michael P. Santos
In this episode of Impactful Conversations, Michael Santos, a social-enterprise- and impact-investing associate in Morrison & Foerster’s San Francisco office, interviews Rodney Foxworth, the CEO of Common Future. Based in Oakland, California, Common Future tackles wealth inequality nation-wide by focusing on the needs of communities... ›Maintaining Impact Through M&A
By: Susan H. Mac Cormac and Shai Kalansky
As the COVID-19 crisis continues to make capital markets, including venture capital, an uncertain source of financing, founders and boards of impact businesses may increasingly look to M&A and other strategic alternatives to assure their survival. Mergers, business and asset sales, large-scale technology licensing,... ›Impactful Conversations: An Interview with Henrik Jones at Buckhill Capital
In this special shelter-in-place edition of “Impactful Conversations” podcast, MoFo fund formation lawyer Sean Byrne interviews Buckhill Capital General Partner Henrik Jones about collaborating with MoFo to create a new investment term, the Carried Interest by Verified Impact Calculations (CIVIC). The CIVIC links a fund’s carried interest to quantifiable... ›As Wildlife Threats Grow Worldwide, Law Firms Build Climate-Focused Practices
Suz Mac Cormac, chair of the firm’s Energy and Social Enterprise and Impact Investing practices, spoke to The Recorder about how climate issues have created opportunities for law firms and their clients to help create positive change. “At first, the change was gradual, starting... ›The Climate is Changing: What Every Board Member Needs to Know
By: Susan H. Mac Cormac
Morrison & Foerster partner Suz Mac Cormac co-authored an article with PG&E’s Brian Wong for ACC Docket , a publication by the Association of Corporate Counsel, that covers how climate change impacts companies and how board members should address the related risks and issues.... ›Impact Links: Climate Week 2019 Announcements; UN Global Compact and Accenture Releases CEO Study on Sustainability; Caltech $750 Million Donation to Environmental Research; Invesco Study on Socially Responsible Investing; LeapFrog Reveals Independe
Significant commitments, partnerships, and new research projects worth trillions were announced during Climate Week 2019. The United Nations Global Compact and Accenture released findings from their CEO study on sustainability , which draws on insights from more than 1,000 CEOs. Caltech announced a $750... ›