HKS Affiliated Authors


2023, Paper: "There is a long history of racial equity as a topic of concern for responsible investment – and related fields of practice variously labeled socially responsible, community, mission-related, impact, and ethical investment -- in the United States. Community investment emerged in the 1960s from the civil rights movement as a way for investors to tackle disinvestment particularly in minority communities; the Community Reinvestment Act of 1977, which has provided an enduring federal policy structure, found a vital impetus in the redlining of black communities in Chicago. The current practice of shareholder engagement has roots in the divestment campaign against South African apartheid. For many years, advocates have urged institutional investors to adopt emerging manager programs to redress the exclusion of minority run investment firms from manager selection processes, or urged investors to use their leverage to diversify overwhelmingly white corporate boardrooms." Read Via Harvard / Center for Public Leadership