Newsletter from the Council for Inclusive Capitalism

In this edition, we highlight how inclusive financial solutions are empowering underserved communities and driving economic resilience. Discover innovative initiatives from Council members, including CalABLE’s work in advancing financial independence for people with disabilities, and insights on creating a more inclusive economy.

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Unlocking Opportunity through Financial Inclusion

As business environments and investment markets become increasingly shaped by geopolitical challenges, extreme weather and energy crises, the case for Inclusive Capitalism has never been clearer – for businesses, government and civil society alike.  At the community and markets level, lack of access to capital for startups run by women, people with disabilities and those traditionally left behind remains both a critical gap between businesses and community development.  More broadly in terms of economic growth, this gap is also a missed economic opportunity between government and investors – as I personally wrote in Time.

Thanks to community finance initiatives like M&T Bank’s Tech Hubs, startup incubators like Communitas America, and local government programs like CalABLE, Council members are modeling how the Inclusive Capitalism community not only partners across sectors and regions, but also creates financial value and grows the whole economy.

The importance of our community extends beyond traditional investments into the energy sector as well, where transition to a net-zero economy must guarantee affordability along the pathway to clean, renewable energy sources.  For many low-income communities and those traditionally left behind, access to energy is still a matter of both public health and economic opportunity – with 760-million people lacking access to electricity worldwide, and nearly one-third of U.S. households struggling to pay energy bills.

As we approach COP29 in Baku, and on the heels of Climate Week in New York, the Council will continue engage our community and share resources on this path toward a just transition and financial inclusion for all.

Onward,
Lynn Forester de Rothschild

The Council in Action

In our commitment to highlight inclusive capitalism in action, we are proud to showcase a powerful initiative advancing financial inclusion for people with disabilities. This work exemplifies how inclusive capitalism creates opportunities for historically marginalized communities.

The California State Treasurer’s Office, led by Fiona Ma, is making a significant impact with CalABLE, a program that empowers individuals with disabilities to save without risking their access to vital benefits. What does this mean for financial independence and inclusion?

Our highlight reveals:

• How CalABLE helps individuals save and invest while keeping their benefits
• The tools CalABLE provides to foster financial security and independence
• Real-life stories of people transforming their lives with CalABLE
• Insights for other states and financial leaders seeking inclusive solutions

Click here to explore how CalABLE is reshaping financial inclusion for Californians with disabilities.

Watch the video below to see how it works.

Resource Highlight

Building a more inclusive economy means ensuring that everyone, regardless of background or circumstance, has the tools and opportunities to succeed. In this newsletter, we highlight three powerful resources from our members that showcase how financial inclusion can drive economic growth, uplift marginalized communities, and foster resilience.

Empowering Inclusivity

Small businesses are the backbone of Colombia’s economy, accounting for 79% of employment opportunities. This case study explores the unique challenges faced by migrant-owned businesses and entrepreneurs and offers insights into how financial inclusion can unlock greater economic potential for these communities. Discover the impact of empowering marginalized entrepreneurs to drive growth and innovation.

Download Resource

Café Paga Ecosystem: Case Learnings

Access to formal financial products is a challenge for many rural communities. This case study dives into an electronic payment project that is helping coffee producers in Colombia and Mexico gain access to essential financial tools, empowering them to better manage their income and build economic security.

Download Resource

Second Chances: The Benefits of Hiring Returning Citizens

Hiring returning citizens—those formerly incarcerated—can transform lives while benefiting businesses. This eBook presents data and real-life stories that demonstrate how giving second chances can reduce bias, improve employee retention, and foster a more inclusive workforce

Download Resource

Inclusive Capitalism in the News

The essential news and updates around inclusive capitalism and members of the Council.

• India’s Reliance Industries on track with solar PV, battery storage gigafactory plans << Read More
• BP Invests in Chinese Sustainable Aviation Fuel Plant << Read More
• Mark Carney to Chair Leader’s Task Force on Economic Growth << Read More
• State Street Announces Additional Round of Deposit Placements through Minority Depository Institutions and Community Development Financial Institutions << Read More
• Deloitte 2024 CxO Sustainability Report << Read More
• Deloitte Launches Deloitte Academies to Upskill Workforces in AI, Sustainability, and Innovation << Read More
• Zobel De Ayala Plans Indonesian Wind Projects << Read More
• Ayala is Philippines’ best company—TIME 2024 ranking << Read More
• Bank of America boosts US minimum hourly wage to $24 << Read More
• Vale & BP among investors in carbon-capture technology firm Mantel Capture << Read More
• BP, Iberdrola Greenlight Hydrogen Project in Spain << Read More
• bp’s Latest Pact Will Expand EV Network to Parking Garages in 20 U.S. Cities << Read More
• Vale and Midrex to cooperate in the use of iron ore briquettes in direct reduction plants << Read More
• BP Joins Methane Reduction Group << Read More
• DuPont Commits to Net-Zero Emissions by 2050 << Read More

The Council at Climate Week

Climate Week NYC may have wrapped up, but the work continues. From September 22-29, 2024, the Council for Inclusive Capitalism joined leaders from across sectors to address the urgent need for a decarbonized economy that benefits workers, communities, and consumers while ensuring financial returns. We participated in key discussions on the “just transition,” social inequalities, and climate finance, sharing insights and strategies for impactful climate action.

Stay tuned for a comprehensive recap of our engagements, key takeaways, and the next steps toward building a more inclusive and sustainable economy.

In the meantime, click here to explore insights, resources, and learn more about the Council’s involvement.

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