Veris was selected by Real Leaders® as one of the top Impact Companies of 2025. Veris is an investment advisory firm that has been helping families and foundations align their investments with their values since the firm was founded in 2007. This is the third consecutive year that Real Leaders has named Veris on their list of top impact companies.
By Jane Swan, CFA and Roraj Pradhananga, CIMA & CPA
As we write, the 2024 general election in the United States is less than two weeks away, and values-aligned investors are keenly aware of the social and environmental issues that are on the line. With this letter, we aim to put the economy and markets in context of the upcoming election, and to put this election in some historical context as well.
The US economy continues to remain resilient. In the second quarter the economy grew at an annualized rate of 3%, accelerating from an upwardly revised 1.6% expansion in the first quarter. This is in line with the 3% year-over-year GDP growth as strong consumer spending driven by a resilient labor market and wage growth continues to support the US economy. Inflation pressures continued to ease, allowing the Federal Reserve greater confidence to shift their primary focus from lowering inflation to supporting the labor market. In September, they lowered interest rates by 50 bps (0.5%), making the first rate cut in four years.
Environmental, Social, and Governance (ESG) and impact investing are often lumped together, but there are meaningful differences between these approaches. With so much positive and negative spin and contradictory coverage of ESG and impact investing, many investors are understandably confused about what these terms mean and how they differ in practice.
I have worked in the sustainable finance industry both in the United States and in emerging markets – for over 24 years and now lead one of the longest-serving ESG- and impact-focused investment advisory firms in the US. To help investors better understand the differences between ESG and impact investing, I will briefly compare them in terms of purpose, measurement practices, investment approach, and market size.
Croatan Institute is an independent, nonprofit research and action institute whose mission is to build social equity and ecological resilience by leveraging finance to create pathways to a just economy. We recently sat down for a conversation about climate justice and what it will take to bring about a just transition with the Institute’s Executive Director Christi Electris and Senior Fellow and Director of the Institute’s initiative on Racial Equity, Economics, Finance, and Sustainability (REEFS), Sharlene Brown. An excerpt of this conversation was published in Veris’ 2024 report A Framework For Investing in a Just Transition.
By Jane Swan, CFA and Roraj Pradhananga, CIMA & CPA
The first half of 2024 has brought significant volatility to stock markets, expectations about possible interest rate cuts, and to our political process in the United States. In our summer letter we aim to make sense of this volatility and help shed light on some of the possibilities in the months ahead.
The US economy remains resilient, but growth is starting to slow, as many households have depleted their excess savings and as the labor market has begun to soften. Elevated interest rates, tightening lending standards and slowing consumer credit growth are expected to continue to be headwinds. US consumer sentiment has decreased to a 7-month low in June as higher prices continue to weigh heavily on Americans’ finances and impact their living standard.¹
July is National BIPOC Mental Health Awareness Month in the United States. This month is dedicated to raising awareness of mental health resources, support, and treatment options that are available for racial and ethnic minorities in America and advocating for policy changes that will make quality care options more accessible to Black, Indigenous, People of Color (BIPOC) and Asian American and Pacific Islander communities.
