Banks Push 'Impact' Investing
NEW YORK (
) -- Several banks and private investors are looking for opportunities that provide an environmental and social impact as well as a financial return, according to a new study by
JPMorgan Chase
(JPM) - Get Report
and the Rockefeller Foundation.
Many of these opportunities are in affordable urban housing, rural access to clean water, maternal health, primary education, and microfinance. This category of investments, known as "impact investments" is expected to grow over the next ten years.
It is estimated that investors will contribute $400 billion and $1 trillion to projects in the next decade, according to the study. Backers of these projects are likely to profit between $183 billion and $667 billion,
Often these investors are from large institutions including banks. The report says that
JPMorgan
,
Citigroup
(C) - Get Report
,
Prudential
(PRU) - Get Report
and
Standard Bank
are likely to make substantial investments in impact investments.
--Written by Maria Woehr in New York.
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