This Week in ESG and Impact Investing

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...

Above, Interns from Creative Investment Research at the Blockchain for Social Impact Conference. From left to right, Papa Yaw Owusu, Franklin and Marshall University, Megan Abarca, Wellesley, Dongming Liu, Georgetown University, Mr. Lin, Georgetown University, Rongbin Ye, Johns Hopkins, Chen Zheng, Georgetown. The Blockchain for Social Impact Conference (BSIC), organized by Consensys and held on June 1st, was one of the highest level conferences held so far to discuss blockchain technology. As one of the main  speakers on the social impact of blockchain technology, William Michael Cunningham , Economist and CEO of Creative Investment Research, addressed the application of blockchain technology as a tool to enhance impact investing . Impact investing analysts and interns from Creative Investment  volunteered at the event and provided the administrative support. William Michael Cunningham speaking at the Blockchain for Social Impact Conference. The...

The emergence of blockchain technology and cryptocurrency creates potential threats, but also opportunities for the world’s central banks. We noticed a pivot toward greater discussion of blockchain at the IMF and World Bank meetings we attended in early October as central bankers, financial institutions and policymakers took note of these developments. Cryptocurrencies do not require an intermediary to verify and oversee transactions, allowing transactions to bypass the current monetary system overseen by central banks using fiat currencies. In their official capacities as international organizations seeking coordinated and stable monetary policy, the International Monetary Fund and the World Bank recognize the potential of blockchain technology and both have taken significant steps in this fintech space. Christine Lagarde, managing director of the IMF, suggested the creation of a digital currency based on the special drawing rights, a basket of international reserve currenci...

In April, 2000, 10,000 protesters gathered outside the World Bank/IMF Spring Meetings to express passionate disapproval of globalization and to express concern about growing income inequality. Chaos erupted and upwards of 1,000 people were arrested. Seventeen years later, at this year’s World Bank meetings, there are no protesters to be found in Foggy Bottom. The World Bank has attempted to incorporate some of the protesters’ concerns into their Spring Meeting event schedule: they have increasingly emphasized income inequality and other issues. This progress was displayed at the Civil Society Organization (CSO) Roundtable on April 18: CSOs posed their questions directly to World Bank executive directors. The questions were direct, opening with “How can the bank do more to provide relief in wars and other crises ?” Executive director Merza Hasan brought attention to the relief efforts of the past, but suggested there was room for improvement. The comments were in line with World ...

Every spring "the International Monetary Fund (IMF) and the World Bank Group..bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness." We have attended this event for the past six years. Prior to the event, the IMF issues a  Global Spring Meeting Economic Forecast , this year predicting the world's economy will grow by 3.2% in 2016, down from the 3.8% forecast issued last year. This decline was due mainly to an increase in political ( as opposed to purely economic) risks. Keep in mind that these are the same factors (austerity as an inappropriate focus on reducing deficits in a time of recession, inability to rationally  address  the  causes  and  solution  to the  crisis ) that led to the shallow global recovery in the first place....