This Week in ESG and Impact Investing

  도널드 트럼프가  2024 년 미국 대통령 선거에서 재선에 성공하며 ,  이민자 커뮤니티는 충격과 불안 속에 휩싸였습니다 .  트럼프의 재선 공약과 초기 행보는 그의 첫 임기 때처럼 반이민 정책을 강화하고 이민자들의 권리를 제한하려는 방향으로 나아갈 가능성을 시사했습니다 .  대규모 이민자 추방 ,  노동 비자 할당량 축소 ,  국경 장벽 확대와 같은 정책은 이민자들이 직면한 차별과 소외를 더욱 심화시켜 기본권을 약화시키고 점점 더 적대적인 환경을 조성할 위협이 있습니다 .  이런 상황에서 ,  저는 서울대학교 국제이주와포용사회센터 (CTMS) 가 주최한  " 의사소통은 이주민의 기본권 "  세미나에 참가하게 되었습니다 .  트럼프의 재선으로 인해 이민자 권리가 국제적 논의의 중심에 떠오른 가운데 ,  이 세미나는 이민자의 기본권 보장 ,  특히 의사소통의 중요성을 중심으로 한국과 세계가 배울 수 있는 시사점을 제공하는 의미 있는 자리라고 느껴졌습니다 .  특히 ,  이주민의 기본권을 확보하는 데 있어 의사소통의 중요성을 깊이 이해할 수 있는 자리였습니다 .  2025 년 기준으로 ,  만약 미국에서 순이민이 대폭 감소했다면 , GDP  성장률이  0.2%  포인트 감소했을 것으로 추산되며 ,  이는 약  130 억 달러에 해당하는 손실입니다 .  또한 ,  노동력 부족은 농업 ,  건설 ,  가사 서비스와 같은 주요 산업에서 비용 상승을 초래해 인플레이션 압력을 가중시켰습니다 .  반면 ,  이민자 증가 정책을 시행했을 경우 ,  같은 해  GDP  성장이 최대  0.5%  포인트 더 높아졌을 가능성이 있습니다 . 이러한 이점에도 불구하고 ,  미국...

The re-election of Donald Trump as President of the United States in the 2024 election sent shockwaves through immigrant communities, sparking widespread anxiety and uncertainty. Trump's campaign promises and early policy signals suggest a return to—and potential intensification of—the anti-immigrant measures seen during his first term. Policies such as large-scale deportations, reduced labor visa quotas, and the expansion of the border wall threaten to deepen the discrimination and marginalization immigrants already face, undermining their fundamental rights and creating an increasingly hostile environment. Against this backdrop, I had the opportunity to attend the seminar "Communication as a Basic Human Right for Migrants," organized by the Center for Transnational Migration and Social Inclusion (CTMS) at Seoul National University. With Trump's re-election placing immigrant rights at the forefront of global discussions, this seminar served as a timely platform to ...

Former President Donald Trump’s economic policies, particularly his approaches to banking and financial services, have reignited speculation about their potential impact on minority businesses and consumers. As his political presence grows, understanding the implications of Trump-aligned policies becomes essential for those navigating this complex economic landscape. A defining feature of Trump’s economic policy approach has been financial deregulation. By reducing compliance requirements on financial institutions, deregulation is intended to stimulate lending and expand access to capital. However, this approach often disproportionately benefits large financial institutions while sidelining smaller community banks and credit unions, which are crucial to minority businesses. While proponents of deregulation argue that fewer regulations mean increased credit availability for minority-owned businesses, this outcome is far from guaranteed. The underlying anti-diversity, equity, and inclusi...

Trump’s New Economic Policies Could Have A Detrimental Impact On Black Businesses, Yet Some Opportunities May Exist. The article presents a critical analysis of the potential impact of Donald Trump’s proposed economic policies on Black-owned businesses. While acknowledging limited opportunities, the overall assessment suggests that the negative consequences will outweigh the positives. The analysis underscores that while some isolated opportunities may arise from Trump’s policies, the overall damage to Black businesses could surpass the setbacks experienced during his first term. The compounding effects of higher operational costs, reduced social safety nets, and macroeconomic uncertainty could stifle growth, increase business failures, and deepen racial economic disparities. While there are narrow windows of opportunity, Trump's proposed economic policies pose a significant threat to the stability and growth of Black-owned businesses, necessitating proactive strategies for mitigat...

The Fifth Circuit Court’s decision to strike down Nasdaq's diversity rules marks a significant step backward in the push for greater equity and inclusion in corporate America. The opposition to these rules, cloaked in the language of fairness and anti-quota sentiment, is in reality a bad-faith objection rooted in resistance to racial and gender equity. This ruling exemplifies how deeply entrenched systemic bias continues to hinder progress, using legal and political channels to reinforce exclusionary practices. At its core, Nasdaq's diversity rules aimed to increase transparency and accountability. They required companies to disclose the gender and racial composition of their boards and either meet modest diversity targets or explain their inability to do so. These rules were not mandates but tools to incentivize diversity while preserving corporate discretion. The data overwhelmingly supports that diverse boards lead to better governance and stronger financial performance—a w...

The November 2024 Consumer Price Index (CPI) report highlights inflation trends that carry several significant implications for minority-owned businesses. These businesses, often operating with tighter margins and more limited access to capital than their counterparts, are disproportionately affected by changes in key economic indicators.  Key Findings and Implications 1. Overall Inflation Increase:    - The CPI for All Urban Consumers (CPI-U) rose by 0.3% in November, following a steady 0.2% increase in prior months. This marks a slight acceleration in inflation, with the 12-month rate rising to 2.7%.    - Implication: While this increase remains moderate, it signals persistent inflationary pressures. Minority businesses may face higher costs for goods and services, potentially squeezing profitability unless they can pass on these costs to customers, which may be difficult in price-sensitive markets. 2. Shelter Costs:    - The shelter index increased ...

  White Unemployment Seasonally Adjusted: 3.8%, showing stability over the last few months with no major fluctuations. Trend Observation: The White unemployment rate has remained relatively steady over the past year, maintaining a low rate with minor variations. Black Unemployment 6.4% in November 2024, showing an increase from 5.7% in September and October 2024. This represents a notable uptick in unemployment. Trend Observation: The Black unemployment rate continues to demonstrate volatility and remains significantly higher than other groups. The recent increase in November indicates persistent challenges for this demographic in the labor market. Asian Population 3.8% in November 2024, a slight decrease from 4.1% in September and October, suggesting marginal improvement. Trend Observation: Asian unemployment remains among the lowest, with November showing improvement compared to earlier in the year. Hispanic or Latino Ethnicity 5.3% in November 2024, slightly increased from 5.1% ...

Huntington Bancshares' Lift Local small-business lending program started small, but after four years, it's become one of the $201 billion-asset company's more popular product offerings. Executives at Huntington Bancshares said the $201 billion-asset company's 4-year-old Lift Local Business lending program has far exceeded their expectations.  The numbers tell the story. Huntington launched Lift Local in October 2020 with a $25 million lending budget. It folded the program into the ambitious five-year, $40 billion community development strategy it unveiled in June 2021, boosting its lending threshold to $100 million. Last month, Huntington disclosed Lift Local has made nearly 1,900 Small Business Administration loans totaling $133 million.   And while Huntington has made good on more than 75% of the community strategy's $40 billion overall commitment, there appear to be no plans to wind down Lift Local. "We're continuing to invest in the number of people tha...

 A Young French Perspective on the US Election: Why It Matters Beyond America L'élection américaine est l'un des événements les plus suivis au monde. Pourtant, en tant que jeune Français, je suis particulièrement captivé par son impact. La France et les États-Unis sont étroitement liés par une histoire commune, des alliances de défense, le commerce et des valeurs partagées. En observant cette élection à distance, je suis frappé par l'influence de la politique américaine sur l'avenir de mon pays—et même sur ma propre vie. Climate Change and Environmental Responsibility L'une des problématiques les plus urgentes pour ma génération est le changement climatique. En France, nous avons adopté des politiques environnementales ambitieuses, comme l'Accord de Paris, conçu sur notre sol. Mais en tant que grand émetteur, les États-Unis ont une influence majeure sur l'agenda climatique mondial. Lorsque les dirigeants américains choisissent de prioriser, d'ignorer ou ...

 Watching the Election in the US as Someone from France: Hoping for the Best in an Uncertain World As a young person from France watching the US election unfold, I can’t help but feel a mix of hope and apprehension. We’re all sitting on the edge of our seats, waiting to see what the future holds—not just for Americans but for all of us. These elections seem to affect everything: climate action, global peace, social justice, and even the daily lives of people far beyond US borders. It’s strange to think that a decision happening thousands of miles away can make waves right here, in France. In some ways, it’s a feeling of powerlessness. No matter what happens, we’re left to adapt, to adjust to the next set of policies, the next set of global priorities. Part of me wonders if things will ever settle into a future where we can all work together with some stability. For now, though, it feels like we’re holding our breath and hoping for the best. Hoping for Leadership on Climate, Even If...

The October increase in the Producer Price Index (PPI) for final demand has several notable implications for minority-owned businesses, particularly as it impacts costs, profit margins, and strategic planning. Here’s a breakdown of the key factors affecting these businesses:  1. Rising Service Costs The 0.3% increase in final demand services in October, especially within services excluding trade, transportation, and warehousing, suggests rising operational expenses for businesses that rely heavily on service-based inputs. Minority businesses in sectors such as healthcare, retail, and portfolio management, where prices rose sharply (3.6% for portfolio management, for instance), will likely face cost pressures that may squeeze profit margins unless they pass these costs onto customers. This challenge may be compounded for businesses without substantial pricing power or a strong customer base, making it critical for them to carefully evaluate and potentially renegotiate supplier contr...

 지난 11월 5일에 있었던 선거를 통해 당선된 트럼프 행정 2기가 한국에 미치는 영향을 분야별로 알아보고자 한다. 한국에서는 당선 결과와 함께 다양한 분석이 나오는 상황인데 우리나라는 수출/통상, 에너지, 첨단산업, 금융시장, 대북정책 등 한국경제의 전방위에 걸쳐 큰 영향이 일어날 것으로 보인다.  (source : https://www.korcham.net/nCham/Service/Economy/appl/KcciReportDetail.asp?SEQ_NO_C010=20120939734&CHAM_CD=B001 ) 대한상공회의소에 따르면, 가장 유력한 시나리오는 ‘보편적 관세 도입( T ariff on All Imports)’,‘화석연료 부활( R eturn to Fossil Fuel)’,‘첨단산업 불확실성 증가( Uncertainties in High-Tech Industry)’,‘통화정책 개입( M onetary Policy Interference)’,‘북-미 정상간 개인 외교( Personal Diplomacy)가 있다. 이를 위한 사전 대비가 필요한 상황이라고 생각이 된다.  Tariff on All Imports 한국은 2023년 미국을 상대로 작년 444억 불, 올해 상반기에만 287억 불의 무역수지 흑자를 기록한 만큼, 한·미 FTA 등 기존 무역협정에 대한 재협상 시도 가능성이 크고, 만약 트럼프의 상호무역법이 통과한다면 동맹, 비동맹 구분 없이 우리나라와 같은 무역흑자국에 대한 압박 및 무역장벽이 높아질 것으로 생각된다.  Return to Fossil Fuel 미국 내 화석연료의 시추 허용’ 등 화석연료 공급 확대에 따라 에너지 가격은 낮아지겠으나, 태양광·풍력 등 친환경 에너지 업계의 불확실성은 고조될 것으로 보인다. 이로써 에너지를 주로 수입하는 한국의 에너지 수입 비용은 절감될 것이나 한국의 친환경 에너지 산업 분야는 타격을 입을 것이다.  Uncertainties in High-Tech ...

The recent US Presidential election on November 5th, which will lead to Trump’s second term, has raised concerns in South Korea across multiple sectors, including trade, energy, high-tech industries, financial markets, and diplomatic policies. In the week following the presidential election, various analysts predict that the new administration will have a significant impact on South Korea’s economy. According to the Korea Chamber of Commerce, the most likely scenarios include the introduction of a “Tariff on All Imports,” a “Return to Fossil Fuel,” an increase in “Uncertainties in the High-Tech Industry,” “Monetary Policy Interference,” and “Personal Diplomacy” between North Korea and the United States. I believe South Korea must prepare in advance for these changes. Tariffs on All Imports: Given South Korea’s trade surplus with the United States—$44.4 billion last year and $28.7 billion in just the first half of this year—there are strong possibilities for the renegotiation of existi...

The October 2024 Consumer Price Index (CPI) figures present a mixed picture for minority-owned businesses, affecting their operational costs, consumer demand, and potential growth. With an overall 0.2% monthly increase and a year-over-year rise of 2.6% in the CPI, minority businesses are navigating both stable and volatile cost areas in a nuanced inflationary environment. Here’s a breakdown of implications:  1. Shelter Costs Impact on Business Costs and Consumer Spending    - Shelter, which increased by 0.4% in October and contributed to over half of the overall monthly CPI increase, remains a significant pressure point. Rising shelter costs impact minority business owners directly through increased rental or mortgage payments for business spaces. This can squeeze profit margins, particularly for small retail stores and service-based businesses that rely on leased spaces in urban areas.    - For consumers, higher shelter expenses may constrain disposable income,...

The Federal Reserve’s recent policy announcement on November 7, 2024, holds critical implications for minority-owned businesses navigating the current economic landscape. The Fed's decision to maintain interest rates at their current levels signals a cautious approach to inflation and economic stability, presenting both opportunities and challenges for minority entrepreneurs.  Understanding the Fed’s Decision The Fed's choice to keep rates steady reflects an assessment that inflation is gradually easing, though challenges remain. While rates remain high, this steady stance may offer minority-owned businesses some predictability in borrowing costs, a critical factor for planning and investment. However, lingering high rates can still be a barrier, particularly for businesses that rely on affordable credit to grow.  Key Implications for Minority Businesses 1. Access to Capital    Minority business owners often face systemic hurdles when seeking credit, with many relyin...

The October 2024 unemployment data by race and ethnicity shows a stable picture when analyzed for seasonal adjustments and overall trends: 1. White Unemployment Rate: The rate remains consistent at 3.8% for both September and October 2024. This steadiness over recent months indicates stability in employment rates for this group, with fluctuations typically within a small range throughout the year. 2. Black Unemployment Rate: The October rate holds at 5.7%, consistent with September, reflecting a plateau but still higher relative to other groups. Black unemployment continues to be elevated, a persistent trend reflecting structural racism, including disparities in job accessibility and stability. 3. Asian Unemployment Rate: For October, the rate sits at 3.9%, reflecting volatility compared to earlier months. The relatively low but fluctuating rate may indicate vulnerabilities in specific sectors of employment that disproportionately impact this demographic. 4. Hispanic or Latino Unemploy...

세계은행 그룹(WBG)은 전 세계 시민들과 협력하여 빈곤 감소, 국제 경제 개발, 금융, 인적 자원 구축, 그리고 회복력 강화를 통해 극심한 빈곤을 종식시키고 공동 번영을 증진하는 글로벌 노력에 중요한 역할을 하고 있습니다. 이러한 중요한 이슈에 대한 인식 제고와 의제 진전의 주요 수단은 매년 있는 Spring Meeting 과 Annual Meeting 입니다. 이 회의에는 이사회 회의 외에도 개발 위원회와 국제통화금융위원회(IMFC)가 글로벌 경제 전망, 빈곤 퇴치, 경제 개발, 원조의 효율성 등과 같은 글로벌 이슈에 대해 조언하기 위해 소집됩니다. 올해 한국에서는 한국은행, 한국수출입은행, 한국금융연구원을 비롯한 많은 주요 경제 기관들이 이 행사에 참석했습니다. 2024년 국제통화기금(IMF)과 세계은행(WBG) 연차총회는 10월 21일 월요일부터 10월 26일 토요일까지 개최되었습니다.  Creative Investment Research에서 인턴으로 일하면서 국제통화기금(IMF)과 세계은행(WB) 연차총회에 참여할 기회를 가졌습니다. 저는 경제학을 전공하는 한국인 여학생입니다. 이 이벤트가 진행되는 일주일간 총 10개의 세션에 참석할 수 있었습니다. 중앙은행 디지털 화폐(CBDC), 인공지능(AI), 불평등, 지구 온난화, 세계 경제 성장과 같은 주제를 다루는 이벤트에 참여하며 이러한 이슈들이 글로벌 관점에서 어떻게 다뤄지는지 배우는 시간을 가졌습니다. 이를 통해 저는 다양한 관점에서 글로벌 경제 이슈를 분석하고 이해할 수 있었습니다. 주로 한국 경제에 초점을 맞췄던 저에게 이번 행사는 세계가 직면한 문제들을 어떻게 해결할 수 있는지에 대한 인사이트를 얻을 수 있는 시간이었습니다.    특별히 더 관심 있게 들었던 세션은 "Asia's Revenue Challenge"로, 아시아-태평양 지역의 국가들이 직면한 개발 과제를 해결하는 데 어떻게 기여할 수 있는지에 중점을 둔 이벤트였습니다. 아시아 각국의 공공 부채는 여러...

The World Bank Group (WBG) plays a key role in the global effort to end extreme poverty and boost shared prosperity by engaging citizens worldwide in collaboration on poverty reduction, international economic development, finance, human capital building, and resilience strengthening. A primary avenue for raising awareness and advancing key issues is through the Spring and Annual Meetings. In addition to the meetings of the Boards of Governors, the Development Committee and the International Monetary and Financial Committee (IMFC) convene to advise on global issues such as the world economic outlook, poverty eradication, economic development, and aid effectiveness. This year, Bank of Korea, The Export Import Bank of Korea, Korea Institute of Finance and many pivotal economic institutions attended this event. The 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) are scheduled from Monday, October 21, to Saturday, October 26. I had the opportunit...

The U.S. Chamber of Commerce is the world’s largest business organization, representing the interests of businesses of all sizes, from small local companies to large multinational corporations. Its primary goals are to advocate for, connect, inform, and fight for business growth and America's success. From September 10 to September 11, the U.S. Chamber of Commerce organized its annual summit on global aerospace. This leading event in the space and aviation sectors gathered government leaders and industry experts from around the world. For over 20 years, the summit has hosted discussions on key developments, trends, challenges, and opportunities in aviation and space. On day 1, most of the sessions focused on aviation technology and the industrial future. Guillaume Faury, CEO of Airbus, pointed out that sustainable aviation requires collaboration between industry and government, as it is still in its early stages. Moreover, there is excitement about the future of aviation innovation...

In a signal development, the NAACP announced a $200 million initiative aimed at empowering Black businesses through strategic investment via a dedicated financial vehicle. This action may herald a pivotal shift in how Black entrepreneurs and business owners access capital, a key factor in overcoming historic and structural barriers that have long stifled economic equity in the United States. The creation of NAACP Capital represents more than just a financial infusion; it’s a strategic investment in the future of Black business. For far too long, Black entrepreneurs have faced insurmountable challenges in securing funding . The racial wealth gap, exacerbated by systemic discrimination in lending practices and Black business investment, has made capital access for Black-owned businesses not just difficult, but nearly impossible. While various support mechanisms, like the Department of Commerce Minority Business Development Agency, exist, they often fall short in creating the type of lar...