GHG Emissions, Finance - April 5, 2023
Etsy Launches Impact Investment Fund
Etsy, an ecommerce company, will allocate $30 million of its cash holdings towards an impact investment fund, which will enable the company to use capital to expand its efforts to foster economic empowerment and promote sustainability.
Investments through this fund align with its goals to help accelerate the development of the creative economy, support financially underserved communities, and promote environmental sustainability, said Chelsea Mozen, Senior Director of Impact & Sustainability at Etsy in a statement.
Etsy partnered with ImpactAssets Capital Partners, a wholly-owned subsidiary of ImpactAssets, to create a portfolio where its capital investments will drive a meaningful positive impact. The company deposited $30 million for this program at City First Bank, one of the largest Black-led Minority Depository Institutions in the U.S.
Capital will also be directed toward Greenbacker Capital Management, an investment firm that catalyzes growth in renewable energy technology and connects investors with innovations aimed at reversing the climate crisis.