Mountain climbing is one of the interests of Colorado resident Robert “Bo” Parfet. After he finished his degree at Colorado State University near Denver, attended graduate school in Chicago and Michigan, and during several years on Wall Street, Robert Parfet decided to climb the world’s seven tallest mountains (by using his vacation days). From this experience, Robert “Bo” Parfet founded Denali Venture Philanthropy, an investment firm that specializes in impact investing.
Impact investing, which got its start just before the Great Recession of 2008, encompasses the ideals of corporate social responsibility but goes a step further. The purpose of impact investing is to reverse the negative effects of business on the environment by investing in products or services that have social or environmental benefits. Please note, there are many forms and types of impact investments.
The intentions of many who begin impact investing are pure, but data reveals that goodwill can translate into profitability too. For example, in India, approximately 50 investors have sunk more than $5 billion into projects in the past 10 years, and these investments are expected to grow at an annual rate of 14 percent and improves the lives of thousands & thousands of people and local economies.
According to Forbes, impact investing is also projected to grow in the next 10 years. J.P. Morgan reports that impact investing will comprise $400 billion to $1 trillion of investments that generate $183 billion to $667 billion by 2030.
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