Reflections from the 2024 Just Economy Conference
By Nyia Hawkins, Ambitio US Fellow
I recently had the profound pleasure of attending the 2024 Just Economy Conference hosted by the National Community Reinvestment Coalition in Washington, DC. This dynamic gathering brought together 1,200 leaders from community organizations, policymakers, and professionals, all dedicated to fostering equitable economic development. The energy was palpable, with sessions filled to standing-room-only by attendees eager to translate discussions into actionable change.
One of the highlights for me was “The New CRA 101,” a session that delved into the recent updates to the Community Reinvestment Act (CRA) , introduced in late 2023. These significant changes have the potential to redefine how financial institutions can collaborate with us as funders to support and grow our communities substantially. Banks are now encouraged to form partnerships with non-profits and community groups, gaining deeper insights into the needs of the communities they serve. This shift is a game-changer for those of us in the philanthropic sector, as it means our on-the-ground knowledge and experience can now directly influence where and how bank investments are made.
One particularly memorable part of the session was the discussion of historical practices like redlining and community disinvestment that underscored the necessity for modernizing the CRA. Understanding the history of community reinvestment is crucial for anyone looking to drive positive societal change through investment. This knowledge is essential for developing more effective and empathetic investment strategies that genuinely meet the needs of these communities.
The Just Economy Conference was more than just an event — it was a powerful reaffirmation of our shared values and commitments to creating a just economy. I left inspired and motivated, ready to leverage the insights gained to enhance our philanthropic efforts and ensure that our investments make a meaningful impact on those who need it most.
This article was originally published on Medium. Read it on Medium →
Unpacking the Impact: Insights from our ‘Participatory Investing 101’ Workshop
By Nyia Hawkins, Ambitio US Fellow
Earlier this month, Ambitio US hosted its first public convening of the year, “Participatory Investing 101: Moving from Principles to Practice,” marking a significant milestone for the initiative and for me personally as the moderator. We were fortunate to have the expertise and insights of Katheryn Witt, Independent Consultant & Lead for the Participatory Investing Action Lab , and Leslie Lindo, Managing Director of the Olamina Fund at Candide Group . Their expertise and authenticity were invaluable as we explored how personal and professional perspectives on money can profoundly influence investment strategies.
The interactive workshop was designed to unpack the complexities of participatory investing, a strategy that seeks financial returns while championing community engagement and empowerment. Our interactive format, featuring real-time polls and an engaging Q&A session, fostered a lively exchange of ideas and experiences.
I am particularly grateful to Leslie and Katheryn for their openness in sharing their personal relationships with money. These discussions reminded us that behind every financial decision is a person with unique experiences and perspectives. By recognizing and valuing these personal narratives in our professional discussions, we not only humanize financial processes but also strive to create investment practices that genuinely reflect and respect the diverse communities we aim to support.
Leslie shared insights into the initial challenges of shifting mindsets necessary for this work, noting, “… you have to be willing to do it.” Katheryn added to this, highlighting the importance of acknowledging preconceived notions: “One of the things that we’ve talked about in some of the groups I’ve worked with is the power of just identifying and acknowledging what those preconceived notions are and what the culture is that you are working under. Sometimes even just the power of naming it allows folks to dig into it a little bit more.”
As we move forward, I am encouraged by the enthusiasm and engagement that the “Participatory Investing 101” workshop sparked. I hope this event serves as a stepping stone towards a deeper understanding and more impactful investment practices. The momentum is indeed building.
Thank you to everyone who participated, contributed, and supported this event. Your involvement is crucial as we continue to shape a brighter, more inclusive future in philanthropy and finance. Let’s keep this journey going, learning from each other and amplifying our collective impact. The workshop recording will be posted on the Center for Cultural Innovation and Ambitio US websites soon, so stay tuned!
This article was originally published on Medium. Read it on Medium →
Arts, Culture, and Creative Economy Financing and Impact Investing
Publisher: Impact Finance Center
By Cate Fox