finance-sustainability-crashcourse-session4.Rmd

---
title: "Finance and sustainability crash course - session 4"
layout: post
output:
  pdf_document:
    latex_engine: xelatex
    toc: true
    toc_depth: 4
    number_sections: true
  md_document:
    dev: png
    toc: yes
    toc_depth: 4
  html_document:
    number_sections: yes
    theme: default
    toc: yes
    toc_depth: 4
  word_document:
    reference_docx: template.docx
category: [real-world-economics, finance-sustainability]
tagline: "crash-course"
tags: [finance, sustainability, crash course]
bibliography: PostDocKVA2.bib
---
{% include JB/setup %}

#Financial innovations for sustainability

Speakers: Per Olsson, Mauricio Portillo
Relevant background reading on [A Theory of Transformative Agency in Linked Social-Ecological Systems](http://www.ecologyandsociety.org/vol18/iss3/art27/)

## Innovations in the global financial system - transformation, scaling, agency

[**The global financial system - e-journal USA**](http://iipdigital.usembassy.gov/media/pdf/ejs/0509.pdf), issue of [e-journal USA](http://iipdigital.usembassy.gov/ejusa.html#axzz3XNWqQQvy)

  * Institutional investors
  * Private investors
  * Banking
  * Financial accounts
  * Bond market
  
* **Do social innovations relating to financial sustainability initiatives contribute to large-scale transformations or do they reinforce the existing (*flawed*) paradigm?**


## Scaling processes in finance for sustainability

* [***Conservation Finance*** - *Moving beyond donor funding toward an investor-driven approach*](https://www.credit-suisse.com/media/cc/docs/responsibility/conservation-finance-en.pdf) - report by WWF, Credit Suisse, McKinsey & Company.

Investors/funds -> (financial investments) -> Investment structures -> (Conservation investment) -> Activation of cash flow -> (Conservation impact)  -> Ecosystem with conservation needs -> (Impact reporting to investors)

* [Develpmental Evaluation: - Michael Quinn Patton](http://www.google.se/books?hl=en&lr=&id=gd_RvUbSWnsC&oi=fnd&pg=PR1&dq=Developmental+Evaluation+-+Michael+Quinn&ots=pR_GxWlPQi&sig=kwOiE12aoN9gCS6RH-T2g5dFcCM&redir_esc=y#v=onepage&q=Developmental%20Evaluation%20-%20Michael%20Quinn&f=false)


* **Build a beter understanding o flarge-scale systemic changes and fundamental redirections in people-planet elationships that can hae an impact at the scales that match the Anthropocene?**


**Transformative trends in business and the economy**

[Global clusters of innovation - Jerome S. Engel](http://www.e-elgar.co.uk/bookentry_main.lasso?id=15588)


## Types of impact investors - by Mauricio

**Types of investments:** Cash, Senior debt, Mezzanine/Quasi equity, Public equity, Alternative instruments: Venture capital, Private/Growth equity, Real estate, Other real assets, absolute return (hedge funds).


**Types of investors:**


  * **Finance First investors**

  * **Impact First investors**


**Types of impact of investments**

Interesting figure from [Open Capital](http://opencapitaladvisors.com/resources/)


### Case study 1 - Acumen fund investment in Indian power plants


### Case study 2 - Aqua Spark investment in Aquaculture


### Case study 3 - Fish 2.0


## Social inclusive businesses

Social benefits vs. economic benefits

### J.P morgan impact investment report

[Resources relating to the report](http://www.thegiin.org/cgi-bin/iowa/resources/research/151.html)

[“Impact Investing”: Theory, Meet Practice](http://www.frbsf.org/community-development/files/Pinsky.pdf)

[JP Morgan's - Spotlight on the Market - The Impact Investor Survey](http://www.thegiin.org/binary-data/2014MarketSpotlight.PDF)




### Note for real-world-ecnomics piece

***Impact investments and the sustainability transitions* What is the potential role of impact investors and other types of sustainability oriented investments in driving social transformations?**


# REFERENCES

The following literature was cited