In the report
Next steps
Now is an important time to ask inconvenient questions.
AI, social media and defence are all booming investments but are unlikely to align with charitable missions. Should asset owners continue investing in them? When the market can’t deliver matching financial returns for investments that prioritise positive impact, which should we be willing to compromise on: impact or return? And, is financial growth the primary purpose of charities, endowments and foundations?
The EIC has shown asset owners can work collectively and transparently. But the work is far from done.
EIC partners and supporters will continue working to align our investments with our charitable missions. We will keep exploring the balance between impact, financial risk and financial return. The perfect solution doesn’t exist, but we can get better at understanding trade-offs, communicating them honestly, and making intentional choices about what matters most.
We will push for greater transparency across the endowments and foundations sector. Where is charity capital invested? What impact is it having? Asset owners should be able to answer these questions clearly and publicly.
We will promote the ISPs who performed well in the EIC process. High-quality and impactful investment options exist – they need greater visibility and capital to scale their impact.
Perhaps most importantly, we will continue working to demystify finance and investment. We are committed to opening up investment conversations, making the language clearer, and challenging the assumption that only financial professionals can have a say. We will keep asking how investment decisions can include those most affected by them.
The social and environmental challenges we face have arguably intensified since we started this process. We look forward to working with ISPs, asset owners, and the investment industry more broadly to respond to the Endowments Investing Challenge.