Real Impact

Impact investment, the support of social and environmental projects with a financial return, has become a hot topic in the world's philanthropy and development circles, and is growing exponentially: in the next decade, it is poised to eclipse traditional aid by ten times. Yet for all the excitement, there is work to do to ensure it actually realizes its potential. Will impact investment empower millions of people worldwide, or will it just replicate the same failures that have plagued the aid and antipoverty industry?

Enter Morgan Simon. When she was a twenty-year-old college student at Swarthmore, Simon compelled Lockheed Martin to change their LGBTQ policies by convincing her college to stop investing in the firm. And that was just the beginning. With passion and counterintuitive arguments, Simon shows how impact investing can make real change. But she also illustrates how easy it is to make mistakes, showing how wind farms can lead to land grabs, and how short-term thinking by well-meaning investors can actually lead to more oppression and hardship in the communities they are trying to help. Impact investing, Simon argues, is making the same mistakes the aid industry has been making for years. But there are ways to invest and have real impact: by making sure the communities are involved in the decision-making and ownership of the project, that investors are adding more value than they extract, and that the risk and returns are balanced between the investors and the communities.

As an activist, and as a trusted leader in the field, Simon argues that we can work within the system and use capital to effect change. Centered around real, on-the-ground case studies from her decades of investment analysis and offering clear strategies that are proven to work, this book is a clarion call for more effective, socially conscious investing.

“"Where we invest speaks to our values as a country that prioritizes our collective social welfare. Morgan Simon's innovative investment approach ensures money can serve as a force for good, for everyone."-- Congressman Keith Ellison, member of the House Financial Services Committee and co-Chair, Congressional Progressive Caucus”

"Real Impact is a gift to the academic community. I know of no other resource available with such a balance of thought-provoking investment philosophy and practical advice--reflecting the depth of Morgan Simon's expertise and experience in impact investment."--Heidi Krauel Patel, Lecturer in Management, Graduate School of Businessat Stanford University
"Real Impact is a unique and valuable teaching tool. Morgan Simon's expertise in the field is unparalleled, and brilliantly shared through this book."--Vikram Gandhi, Senior Lecturer, Harvard Business School; former Vice-Chairman of Investment Banking, Credit Suisse
"A critical cautionary tale--how do we scale social impact investment without leaving anyone behind? Morgan Simon is a master practitioner at inclusive investment; read Real Impact to learn from her compelling example."--Ben Jealous, Partner, Kapor Capital and former President, NAACP
"Clear-eyed, explicit, and tinged with just the right amount of outrage, this is a clarion call that the world...needs to hear."- Publishers Weekly

"A clear-eyed case for socially conscious investment, of much interest to those who want their dollars to do good." - Kirkus Reviews

"Readers interested in social and economic justice, climate change, housing, gender equality, and other pertinent topics will be compelled by Simon's exploration of impact investment as a creative way to challenge social problems in global and local contexts." - Booklist

"Impact investing is a subject that deserves in-depth, powerful scrutiny. Real Impact offers much of that, and will give readers an introduction into understanding where this kind of work can bring hopeful change and where it can't. Timely!"--Bill McKibben, author of Deep Economy
"Morgan Simon has made a significant contribution with the very big idea that we can change the world by changing how we all relate to money. And lucky for us, Simon is as entertaining in her writing as she is brilliant in her concepts."--Van Jones, CNN
"Over 1,700 asset owners around the world, from pension funds to insurance companies and sovereign wealth funds, have become signatories to the UNPRI, as its becomes increasingly clear that social and environmental trends can create financial opportunities. Investors now have the capacity to help solve the world's problems and deliver strong returns for their beneficiaries and clients. Morgan Simon is a global leader in impact investing, and this book offers critical lessons for those interested in being on the cutting edge of this exciting new field."--Dr. James Gifford, Founder and former Executive Director, United Nations Principles on Responsible Investment; Senior Impact Investment Strategist, UBS
"To drive significant social and environmental progress around the world, investors need to understand how to structure and deliver capital in a way that works for high-impact enterprises. Real Impact highlights the complicated trade-offs they will face along the risk-return spectrum and offers a blueprint for market growth. It helps fill the knowledge gap between optimism and execution."--Debra D. Schwartz, Managing Director of Impact Investments, MacArthur Foundation
"Where we invest speaks to our values as a country that prioritizes our collective social welfare. Morgan Simon's innovative investment approach ensures money can serve as a force for good, for everyone."--Congressman Keith Ellison, member of the House Financial Services Committee and co-Chair, Congressional Progressive Caucus

Morgan Simon is a widely-recognized leader in impact investment who builds bridges between finance and social justice. Over the past 17 years, she has influenced over $150 Billion from high net worth individuals, foundations and endowments. She is the Managing Director of Pi Investments, in addition to supporting impact investments at the Libra Foundation, and is also co-founder and chair of the non-profit Transform Finance. Previously, she served as the founding CEO of Toniic, a global network of impact investors, and as the founding executive director of the Responsible Endowments Coalition. She has also worked with the United Nations in Honduras, in corporate reform with ForestEthics, and in domestic microfinance with the Women's Initiative for Self-Employment. She currently serves on the boards of the Restaurant Opportunity Center, The Working World and CARE Enterprises. A graduate of Swarthmore College, Simon serves as an adjunct professor at Middlebury College's graduate school program. She lives in the Bay Area.

Impact investment, the support of social and environmental projects with a financial return, has become a hot topic in the world's philanthropy and development circles, and is growing exponentially: in the next decade, it is poised to eclipse traditional aid by ten times. Yet for all the excitement, there is work to do to ensure it actually realizes its potential. Will impact investment empower millions of people worldwide, or will it just replicate the same failures that have plagued the aid and antipoverty industry?Enter Morgan Simon. When she was a twenty-year-old college student at Swarthmore, Simon compelled Lockheed Martin to change their LGBTQ policies by convincing her college to stop investing in the firm. And that was just the beginning. With passion and counterintuitive arguments, Simon shows how impact investing can make real change. But she also illustrates how easy it is to make mistakes, showing how wind farms can lead to land grabs, and how short-term thinking by well-meaning investors can actually lead to more oppression and hardship in the communities they are trying to help. Impact investing, Simon argues, is making the same mistakes the aid industry has been making for years. But there are ways to invest and have real impact: by making sure the communities are involved in the decision-making and ownership of the project, that investors are adding more value than they extract, and that the risk and returns are balanced between the investors and the communities.As an activist, and as a trusted leader in the field, Simon argues that we can work within the system and use capital to effect change. Centered around real, on-the-ground case studies from her decades of investment analysis and offering clear strategies that are proven to work, this book is a clarion call for more effective, socially conscious investing.

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