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We are well into June and, like every month, Breaking Good is here to celebrate everyday changemakers who work all year round to shape a better future. No matter how many challenges the world faces, we take heart in knowing that there are countless people striving to solve them.
This month, we bring you a profile of an inspiring philanthropic leader, along with good news from the world of impact investing and entrepreneurship. Enjoy!
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Redefining the Role of Philanthropy
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Darren Walker didn’t dream of changing philanthropy as a child. Growing up in poverty in rural Texas, he didn’t even know what a foundation was, as he joked on a recent podcast. But Walker’s conviction that he would be a success led him down the unlikely path to become a corporate lawyer, bond trader, and ultimately one of the most influential leaders in the philanthropic world.
This year, Walker will step down as president of the Ford Foundation following a storied career. As a gay black man from the south, he brought a unique perspective to his role, guiding the foundation to narrow its focus to inequality and social justice. He also spearheaded its entry into impact investing.
However, Walker’s influence extended far beyond the Ford Foundation. He has used his voice to advocate for a new vision for philanthropy, one that moves beyond charity to address the root causes of social inequities. His efforts have been recognized with numerous accolades over the years, including Time’s Most Influential People, the Time100 Philanthropy, and recognitions from The Wall Street Journal, Rolling Stone, Inside Philanthropy, and more.
As highlighted in Be Fearless, Walker encourages others who achieve status or privilege to speak out, empower others, and make a difference. In an opinion essay last year, he argued that America needs “bold, undaunted, audacious leaders” to tackle our current challenges. “We cannot move forward, however unevenly, without courageous visionaries blazing new paths that illuminate the way for all of us to follow,” wrote Walker.
He has certainly laid an inspiring path for others to follow, and we’ll be watching his moves as he starts his next chapter. |
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| Making Waves for the Blue Economy |
| It’s easy to appreciate the beauty of waves crashing along the shore, but there are also plenty of practical reasons to love the world’s oceans. They generate around $2.5 trillion in goods and services each year, support jobs for more than 30 million people, and generate half of our planet’s oxygen. Despite the importance of the seven seas, investment in the blue economy has languished behind other Sustainable Development Goals — but that’s changing. A recent Phenix Capital report indicates that the number of funds dedicated to the world’s oceans jumped by 463% over the last decade. |
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New Research: Impact Funds May Lower Portfolio Risk
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| New Cornell University research found that impact funds offer risk-adjusted returns comparable to traditional private funds, offering a compelling tool to balance higher-risk, higher-return investments. The researchers indicate that adding impact funds to a portfolio may lower market risk exposure while supporting meaningful social and environmental outcomes — without financial trade-offs. |
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Food Entrepreneurs Are Revitalizing Rural Towns
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| Rural towns haven’t historically had reputations as foodie magnets, but that’s changing as young Americans migrate to small towns and rural counties. Forward-looking towns are building thriving food and beverage scenes by leaning on community-shared kitchens and food entrepreneur incubator initiatives. The trend is helping revitalize rural America while giving young entrepreneurs an opportunity to test, scale, and develop their products. |
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| Female Founders Are Reshaping Gulf Economies |
| Throughout the Middle East and North Africa, women entrepreneurs are using their understanding of local market dynamics to launch successful e-commerce platforms, fintech solutions, and other businesses. While many historical barriers remain, there is evidence that more countries in the region are recognizing women’s untapped potential to help reshape local economies, with many local governments and institutions creating new support structures to support entrepreneurship. |
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