Wells Fargo announced $18.5 million in grants today to nine Community Development Financial Institutions (CDFIs) so they can unlock capital or increase training to diverse small businesses across the U.S. Two CDFIs are receiving awards to continue their work supporting entrepreneurs in Puerto Rico, which is still recovering from the aftermath of Hurricane Maria.
The eligible categories for the use of the net proceeds – renewable energy, energy efficiency, green buildings, sustainable water management, and biodiversity and conservation – are designed to positively impact the environment and advance U.N. Sustainable Development Goals.
A majority of U.S. asset managers are now practicing sustainable investing, viewing it as a strategic business imperative. In a new survey entitled Sustainable Signals: Growth and Opportunity in Asset Management, from the Morgan Stanley Institute for Sustainable Investing and Bloomberg, 75% of respondents reported that their firms have adopted sustainable investing, up from 65% in 2016.
