This Week in ESG and Impact Investing

Small businesses are the backbone of our economy, and their success is vital for overall economic growth. Yet, one of the biggest challenges these businesses face is accessing the capital they need to grow, hire, and innovate. This is where the Minority Business Development Agency and the U.S. Small Business Administration's (SBA) 7(a) loan program comes in. **### What Is the MBDA Program? ###** The U.S. Department of Commerce, Minority Business Development Agency (MBDA) is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises. **### What Is the SBA 7(a) Loan Program? ###** The SBA 7(a) loan program is the SBA's primary business loan program, aimed at providing financial assistance to small businesses. It offers loans that can be used for various purposes, including: Acquiring, Refinancing, or Improving Real Estate and Buildings: Whether you're looking to purchase a new property, expand your existing one, or refu

BRICS countries (Brazil, Russia, India, China and South Africa) are moving to establish a new international monetary system to replace the U.S. dollar. North Korea claims that the current international economic order is unfair, centered on the U.S. dollar, and welcomes the expansion of the BRICS to break this unequal order.  "The unprecedented international movement to restrict the use of the Dala (dollar) and the trend of many countries joining the BRICS are accelerating the end of the dollar as a key currency and the subsequent end of U.S. hegemony," the (North) Korean Central News Agency KCNA said in a report issued under the name of international critic Jung Il-hyun. "It is a well-known fact that the dollar-based international monetary system has become the second pillar of the U.S. global hegemony along with military means," the news agency said. "A representative example is financial sanctions imposed on Russia after the Ukraine crisis." BRICS countr

In a world that constantly evolves and redefines the dynamics of power and influence, the time has come for African Americans to explore innovative avenues that can bolster their collective progress. One such opportunity lies in seeking membership within the BRICS alliance – a coalition of emerging economies that has reshaped global diplomacy and economic dynamics. By advocating for African American inclusion in BRICS, we can pave the way for enhanced socio-economic empowerment, representation, and collaboration on an international scale. BRICS, comprised of Brazil, Russia, India, China, and South Africa, represents a formidable force in the global arena. This group brings together nations that share common challenges and aspirations, including a desire to break free from historical patterns of cultural dominance. The potential benefits for African Americans to engage with BRICS are significant and multifaceted: 1. Economic Empowerment: The BRICS economies contribute significantly to t

BRICS refers to the economies of Brazil, Russia, India, China, enlarged in 2010 with addition of South Africa to the predecessor BRIC. Before the emergence of the BRICS, there were several non-aligned movements and groups formed in response to the Cold War and a desire to maintain sovereignty.  These coalitions were born out of the preference to remain independent, steering clear of aligning with major superpowers during the Cold War. These movements sought to safeguard their national interests, maintain self-determination, and forge a path distinct from the ideological struggles of the era. Here are a few examples: Non-Aligned Movement (NAM): The most prominent and well-known non-aligned group was the Non-Aligned Movement, founded in 1961. It consisted of newly independent countries from Africa, Asia, Latin America, and the Middle East. The NAM aimed to remain neutral in the Cold War conflicts and promoted peaceful coexistence, decolonization, and economic cooperation among member sta

This complex tale of systemic inequality pivots around a recent legal clash. The American Alliance for Equal Rights (AAER), founded by a conservative activist instrumental in the U.S. Supreme Court’s June decision rejecting affirmative action, has taken aim at an Atlanta-based venture capital fund: the Fearless Fund. This fund stands as a vital force in supporting Black women-owned small businesses, providing them a platform for growth and empowerment. Notably, the Fearless Fund has also backed African American-owned enterprises like Capway, as they venture into the competitive fintech space. See:  https://minoritybank.com/the-lawsuit-targeting-the-fearless-fund-is-part-of-a-disturbing-trend/

In a landmark climate case, a group of young people in Montana secured a significant legal victory when a judge ruled that the state's failure to consider climate change impacts when approving fossil fuel projects was unconstitutional. The ruling comes amidst a summer of extreme heat and wildfires, highlighting the urgency of addressing climate change. This decision marks a turning point in the fight against government support for oil, gas, and coal industries, which contribute to global warming. The court found that the plaintiffs, representing a range of ages from 5 to 22, have a constitutional right to a clean and healthful environment that includes climate considerations. Montana must now factor in climate change when making decisions about fossil fuel projects. As a young person and a Korean, I'm deeply concerned about the global impacts of climate change. The Montana case is not only a victory for the young plaintiffs but also a message to governments worldwide about thei