In addition to using your gym membership and flossing more, what about setting a goal for 2024 to put your dollars to work as a catalyst for a better future? Each year we like to take a moment to reflect on what we hope the coming year will bring and ways that we can get there. Here are some areas that we’d like to see grow in 2024 that might provide inspiration for your resolutions:
Taking an expansive approach to health investing
The COVID-19 pandemic brought attention to the health field for the past few years and in the coming year we’re excited to approach investing in health with an expansive lens. As more of our clients explore the breadth of the health sector and seek to move their dollars toward this area, it’s critical to consider not just the direct provision of care and the innovations that support it, but also the social determinants of health that influence health outcomes. Social factors, like housing, environmental conditions, and access to nutrition, can have significant impact on medical outcomes. When looked at through this lens, the landscape of health is vast and intersects with other impact areas including climate, housing, and economic opportunity. We’re excited to delve deeper into health investing and social determinants of health this year.
Championing climate justice The most severe consequences of the climate crisis fall disproportionately on marginalized communities, so the surge in justice-based approaches to addressing environmental challenges, including at this year’s Climate Week, is a trend we’re happy to celebrate. Just as reducing carbon emissions is essential to combating climate change, mitigating harm to vulnerable groups, building community resilience, and ensuring equitable access to climate solutions are also important parts of a just climate transition. We’re energized by new funds and organizations being founded with these core values and established entities incorporating justice into their approaches and are looking forward to seeing this philosophy become more widespread in the years to come. Learn more about how a successful climate transition is a just transition.
Leveraging cash for impact As interest rates have increased and people have begun holding more cash, we’ve seen an increase in the use of cash as a vehicle for impact. Cash deposits placed strategically can come with liquidity, healthy interest rates, and minimized risk, while supporting economic development in low-income communities. For example, cash deposits can be used to fund local community banks and credit unions, which in turn support their communities with small business loans, support for large-scale community projects like schools and hospitals, and financial education. Cash can have a particular impact in high interest-rate environments, like the one we are currently in, and depositors can achieve impact outcomes without sacrificing the liquidity or security of their cash deposits.
From embracing an expansive approach to health investing, to championing climate justice, and leveraging cash for meaningful impact – these are just a few of the ways that your impact dollars can be used to build the world you want to see for years to come. Resolutions are always easier to keep when shared, so if you have an impact goal for 2024 that you’d like to realize, connect with us to see how we can help you achieve it.
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