Latest news with #SorensonImpactInstitute
Forbes
17-07-2025
- Business
- Forbes
Measuring What Matters In Community-Based Climate Finance
Access to clean energy can help communities build energy independence and strengthen economic ... More resilience. More than 100 million Americans live in under-resourced communities, from rural areas to urban cities in the Midwest, Southwest, Southeast, and beyond. People living in under-resourced communities spend a disproportionate share of their income on utility costs, often facing difficult choices between basic needs, such as food or transportation, or paying their utility bills. Access to clean energy can help these communities build energy independence, strengthen economic resilience, and develop greater reliability during extreme weather events. But building the infrastructure for these developments requires investment. In response to these challenges, Justice Climate Fund (JCF) works to mobilize capital and resources toward under-resourced communities, driving investments that provide clean energy, support cleaner air and water, and improve public health. National in scope yet rooted in community, JCF's financing framework comprises more than 400 green banks, Community Development Financial Institution (CDFI) loan funds, CDFI banks, Minority Depository Institutions (MDIs), and state and local stakeholders — all with decades of experience working in communities across the country. In 2025, JCF engaged the Sorenson Impact Institute (SII) to develop an impact measurement and management (IMM) framework to ensure impact is embedded across every stage of its work and to guide how it assesses, measures, and communicates its impact. 'The project underscores JCF's commitment to mobilizing capital with intention, using IMM to hold ourselves accountable to the communities we serve and the partners we work with,' says Theresa Bedeau, JCF Chief Strategy & Engagement Officer. Recent rollbacks in federal clean energy policies and the elimination or reduction in programs designed to help under-resourced communities access clean energy solutions have increased both the demand and need for JCF's work. As JCF ramps up to meet this growing need, the IMM framework is designed to ensure impact is incorporated across each stage of the funding process. As SII's Senior Director of Impact Measurement, Dr. Nzinga Broussard oversees, plans, and implements measurement and evaluation programs for the impact investing and impact strategy team. Broussard worked closely with JCF leadership to design and implement the IMM framework. In this Q&A, Bedeau and Broussard discuss the IMM and how it will strengthen JCF's work, partnerships, and impact outcomes. Why did JCF launch the IMM project with the Sorenson Impact Institute?Theresa Bedeau: Our impact is central to our mission. We recognized early on that to drive real, lasting change in under-resourced communities, we would need a robust framework to align our investments with clear impact objectives, track meaningful outcomes, and communicate results transparently. As a mission-driven nonprofit, measuring and managing our impact is essential to our strategy and a critical piece of what our funders, partners, and communities expect and deserve. Nzinga Broussard: To fuel effective communication and ensure mission alignment with potential partners, investors, and community lenders, JCF needed a framework to understand how its services (i.e., capital to community lenders, technical assistance and capacity building to community lenders, de-risking clean energy projects) contribute to social and environmental impacts in under-resourced communities. With projects of this size and scope, many of the social and environmental benefits are realized over many years. JCF needed a way to determine what data and impact metrics to collect early on to be able to meaningfully track and assess impact improvements over time. What are the goals of the IMM project? How will this help position JCF to define, grow, and scale its impact? TB: Our goals for the IMM project are to ensure all investments align with our mission; integrate impact into every phase of project, program, and brand development; and produce credible, data-driven insights that guide our decision-making. This framework allows us to scale our work more effectively. It helps us chart the right course in empowering community lenders and stakeholders, attracting additional capital, ensuring that capital reaches the communities with the greatest need and potential, and amplifying our work through deeper engagement and impact storytelling. These efforts help us deliver a strong return on investment across the board. How does this work help demonstrate the broader opportunities for community-based climate finance and investment in under-resourced communities? NB: Under-resourced communities often have disproportionate exposure to environmental and climate burdens, which means they also have the highest potential for emissions reductions and economic and social benefits. Despite this, these communities tend to be underinvested in by traditional commercial financial institutions. JCF's goal is to catalyze additional private investment for climate resilience and mitigation in under-resourced communities so they are not left behind in the clean energy transition. To do this, the organization is supporting community lenders who have expertise in customizing financial products that serve the unique needs of under-resourced communities. The IMM approach will help them go beyond just assessing the environmental and social benefits of clean energy projects in these communities — they will also be able to track market demand for climate mitigation and resilience solutions in these communities, as well as the value of improved capacity and know-how of community lenders in climate finance. TB: The IMM allows us to move beyond anecdotes and assumptions — to clearly show how climate finance can deliver real, quantifiable benefits in under-resourced communities. With robust data and a disciplined framework, we can demonstrate where the needs are greatest, where investments are most effective, and how community lenders can unlock both environmental and economic returns. This evidence is critical for building confidence among investors, proving the viability of community-based climate finance, and shifting capital toward places that have too often been left out of the clean energy economy. How does this strategy help attract mission-aligned partners, and why is that important? TB: Our IMM strategy gives investors and partners the confidence that their capital is creating measurable, community-rooted impact. By rigorously tracking outcomes and clearly demonstrating social, economic, and environmental benefits — like improved air quality, the number of jobs created and supported, and economic benefits — we make it easier for philanthropic, corporate, and financial partners to see the value of investing in historically overlooked communities. This alignment is essential to our strategy. When partners share our goals and trust our approach, we can mobilize more catalytic capital, strengthen the community lending ecosystem, and ensure the benefits of the clean energy economy reach those who need it most. Why is it essential to include storytelling in your impact reporting? TB: Stories bring our impact to life. Storytelling connects numbers and data to people — it puts a face to what it means to families breathing cleaner air, workers retrofitting schools and hospitals in rural communities, and the life-changing importance of communities building environmental, economic, and energy resiliency. It's how we build deeper understanding, empathy, and urgency among partners, funders, and the broader public. At JCF, we believe storytelling makes our impact more relatable, more memorable, and ultimately more powerful in driving sustained investment and support. NB: Storytelling is key to supplementing quantitative impact metrics and allows organizations to highlight social and environmental impacts that are not easily quantifiable. Storytelling is a compelling tool for connecting with a broad audience and conveying impact on a more personal level. Why is IMM critical to your organization's strategy and long-term success? TB: Impact measurement and management is more than a reporting tool; it's a strategic asset. It strengthens our ability to align funding with results, hold ourselves accountable, and continually improve our work. This will also help us build a shared language and standards internally and across our national network of community lenders and partners. Understanding and setting clear goals around our desired impact also creates the right platform for collective learning and collaboration, which is a key part of amplifying our impact. Strategically, as we scale, it ensures that we stay grounded in the needs of the communities we serve while expanding the reach and effectiveness of our investments. It's an investment in integrity, impact, and our long-term success.
Forbes
24-06-2025
- Business
- Forbes
Expanding The Market For Nature-Based Solutions
Expanding the market for NbS can address pressing environmental and societal challenges critical to ... More stabilizing and restoring critical ecosystems. A Zimbabwean farming initiative counters the effects of deforestation from tobacco farming by promoting capacity-building and supporting farmers' efforts to obtain organic certifications and access more lucrative markets. A living shoreline, made by the Indigenous Pointe-au-Chien tribe of Louisiana using discarded, sterilized restaurant oyster shells, protects culturally significant sites and acts as a defense mechanism against hurricanes. The conversion of 38,000 hectares of degraded cattle pastures in Colombia into silvopastoral systems — incorporating trees, shrubs, and fodder crops into grazing land — enhances carbon dioxide sequestration, improves biodiversity and soil quality, and increases livestock productivity, providing a critical pathway for reduced emissions while sustaining a vital income source. These are all real-world examples of Nature-based Solutions (NbS), innovative projects that leverage natural processes to address societal challenges while delivering environmental, social, and economic benefits. Despite the promising potential of NbS, significant financial barriers prevent their widespread growth. Expanding the market for NbS can address pressing environmental and societal challenges critical to stabilizing and restoring critical ecosystems. A new initiative from the Sorenson Impact Institute includes a series of applied research projects and initiatives to help do just that. 'NbS is an emerging sector that recognizes and leverages the power of nature to efficiently address the impacts of climate change and biodiversity loss. It can also improve socioeconomic outcomes in communities along with ecological outcomes,' says Janis Dubno, managing director of impact finance at the Institute. 'But we have a long way to go if we are to harness the power of nature to bring about the needed climate and environmental outcomes and the socioeconomic co-benefits.' While a few proven financial models for NbS exist, it is estimated that annual investments in NbS must nearly triple to $542 billion by 2030 and quadruple to $737 billion by 2050 to meet the Rio Convention targets. According to the United Nations Environment Programme, only 18% of NbS financing came from private capital in 2023. This presents a significant opportunity for private investors to scale investment in NbS and generate financial returns as well as measurable environmental and social impact. 'Research and practices related to NbS are being driven by an increasing sense of urgency because of the growing threats to ecosystems and people associated with them around the globe,' says Dr. Nalini Nadkarni, a renowned ecologist and Senior Fellow in Residence at the Institute. 'Despite the current 'missing pieces' for effective NbS, this is an exceptionally promising time to pursue the design, implementation, evaluation, and dissemination of NbS efforts.' Initiatives to Facilitate Growth in NbS Led by Dubno and Nadkarni, the Institute's NbS initiative is seeking funding and collaboration in four areas to help unlock growth in NbS, including a series of applied research projects and initiatives. These areas are outlined in further detail throughout this article. In a collaborative approach, the Institute intends to create and demonstrate replicable and scalable models, products, and structures that address the barriers to investment while also leveraging expertise and experience in social impact to align ecological and social outcomes. In addition, bringing together ecologists, scientists, and investors, the Institute hopes to enhance NbS revenue potential, increase returns, and reduce risks — ultimately leading to investment growth. Valuing Nature's Intangible Benefits Applied Research Project: Valuing Nature's Intangible Benefits Goals: Create diversified, sustainable models that attract stakeholders, reduce risk, and enhance the financial viability and positive impact of NbS. When it comes to investing in NbS, the market has naturally gravitated toward the ecosystem services that are easiest to quantify and monetize, such as carbon sequestration or flood mitigation. Yet by focusing narrowly on these areas, investors risk overlooking a far richer array of socioeconomic co-benefits that carry real economic value. Improved mental health, strengthened community resilience, and the preservation of cultural, spiritual, and Indigenous values all deliver tangible returns, even though they've traditionally been overlooked as assets. Putting a price tag on these 'invisible' assets elevates nature from a philanthropic line item to a bona fide asset class. A robust monetization framework translates subjective benefits, such as cultural identity, spiritual enrichment, social cohesion, and mental well-being, into hard metrics that speak the language of investors. Implementing this approach requires synthesizing cross-sector expertise, drawing on ecology, anthropology, finance, and other fields, to codify best practices for capturing intangible values. It also demands the development of fresh indicators that convert overlooked services into quantifiable, market-ready data, followed by real-world case studies that demonstrate how these metrics drive both environmental impact and financial returns. Equally important is mobilizing the impact-investment community: sharing these tools with fund managers and restoration practitioners to ensure they become industry standards rather than niche experiments. With this expanded vision, NbS investments do more than protect trees or wetlands — they unlock a fuller picture of nature's value, creating healthier people, more resilient communities, and stronger financial performance. Addressing Barriers to Investment in Nature-based Solutions Applied Research Project: Addressing Knowledge Gaps and Risks Goals: Unlock greater NbS investment potential by recognizing an expanded scope of nature's benefits, clearly assessing those values, closing knowledge gaps, and reducing real and perceived risk. 'Some of the barriers to NbS investment are related to a lack of scale, real and perceived risk, and insufficient collaboration between ecological practitioners and investors. Creating economic models for NbS that include additional and predictable revenue sources will be necessary to attract investors to this sector,' Dubno says. 'To date, NbS investments have largely prioritized the ecosystem services that are easiest to measure and monetize, but this means the market is missing out on additional benefits that may also have economic value.' Further, it is crucial to develop innovative investment structures that address the uncertainty of NbS, such as short-term metrics that are scientifically indicative of longer-term outcomes, or alternative mechanisms for increasing liquidity. Creating financial structures based on short-term indicators has the potential to shorten the duration typically associated with investments in NbS. Traditional investors, in particular, have limited access to evidence on NbS performance and lack both standardized impact measurement approaches and knowledge about possible revenue models and exit strategies. These gaps contribute to a broader lack of investor confidence, reinforcing perceptions of high risk and uncertain returns and creating a cycle of under-investment in NbS. 'Overcoming these barriers requires more transparent impact and financial data, better risk-sharing mechanisms, aggregation models for scaling investment, stronger economic models, and better connections between investors and on-the-ground practitioners,' Dubno says. Creating Scalable & Replicable Financial Structures Outcomes-Based Financing Accelerator for Nature-based Solutions Goal: Increase private NbS investment by enabling an ecosystem of organizations to leverage Outcomes-Based Financing. Innovative financing mechanisms can help address key barriers to NbS investment by making these opportunities more attractive, scalable, and financially viable for investors, and are a primary focus of the Institute's work. One tool that can play an effective role in filling these gaps is outcome-based financing (OBF), a model that ensures investors are repaid based on the achievement of measurable ecological and financial outcomes, addressing concerns around risk and return uncertainty. The Institute has been a pioneer in using OBF to grow the market for impact investing. By capturing the broader value of social, economic, and environmental outcomes, OBF has the potential to significantly enhance NbS revenue potential, increase returns, and reduce risks, leading to investment growth. Yet, despite a few high-profile pilots, there is limited evidence and knowledge around how, when, and where OBF works for NbS. As governments and philanthropies seek to scale investment into nature, a stronger evidence base is urgently needed. Connecting Investors & Ecologists to Catalyze Nature-based Solutions Convening: Connecting Investors and Ecologists Goal: Catalyze market growth by creating pathways to make the work of capital investors and science-driven practitioners mutually transparent. In January 2025, the Institute began its initial NbS landscape analysis focused on forest and terrestrial ecosystem investment worldwide. Set to be completed in August 2025, the analysis will map out existing investment models, identify what works and what does not, and assess the impact and return profiles of various NbS financing mechanisms. By making this information more transparent, easily digestible, and actionable, the Institute aims to reduce investor uncertainty and increase confidence in the scalability of NbS as an asset class. The Institute's NbS initiative is motivated by the desire to connect impact investors and project ecologists, aligning financial and ecological frameworks that standardize processes for producing NbS outcome metrics across various programs, organizations, and ecosystems, ultimately building investor confidence. 'This standardization is needed for impact investors to feel confident that projected and reported outcomes are accurate, which decreases perceived and actual risk,' Nadkarni says. 'Few ecologists are conversant with the goals, norms, and 'vocabulary' of impact investors, so they do not frame or describe their work in ways that impact investors can readily grasp. Because the arenas of communication and information exchange have little overlap (different journals, meetings, conferences), the impact investing world and the ecological project world have largely been invisible or blurred to each other.' 'Our research will also help connect investors with ecologists and project developers, ensuring that capital is deployed in ways that are not only financially viable but also scientifically sound and socially equitable,' Dubno says. 'Ultimately, our goal is to create a clearer, evidence-based investment framework that aligns capital with nature-positive outcomes at scale.' By creating these frameworks, the Institute aims to connect the scientific and financial communities along with groups that have not traditionally been represented, such as Indigenous, faith-based, art, and culture groups. The goal of these efforts is to raise investors' awareness of existing projects/programs, strengthen ecologists' understanding of financial structures, and create pathways to communicate needed outcome metrics for collaboration and investment. Ultimately, the Institute's work seeks to produce exceptional opportunities for both ecological and financial returns. 'Drawing on the power of nature to address pressing environmental and societal challenges is essential to stabilizing and restoring critical ecosystem services and other human values, including health and wellbeing, cultural heritage, community resilience, and ecological biodiversity,' Nadkarni says. 'Nature-based Solutions hold the key to unlock this potential.'
Forbes
28-05-2025
- Business
- Forbes
Redefining Capital For Good: Katie Macc On What It Means To Lead In Impact
Katie Macc, CEO of the Sorenson Impact Institute, was honored by Utah Business as one of '30 Women ... More to Watch' in 2025. As CEO of Sorenson Impact Institute, Katie Macc draws on her experience in multiple finance sectors, including microfinance, fintech, and impact investing across the globe. These perspectives help shape how she and her colleagues at the Institute approach their multidisciplinary work in impact investing. 'The biggest difference impact investing has made, I believe, is in changing hearts and minds. Most of us in finance and business weren't taught that there is another way—a better way—to do business, to do good, and to build a world in which we all want to live. Impact investing has consistently demonstrated the ability to do all of those things,' says Macc, who was recently honored by Utah Business as one of 30 Women to Watch. At the Institute, Macc and her colleagues focus their work with partners around the world on moving capital toward solutions to some of our biggest challenges. She points to the Institute's work and connections with public and private organizations as key reasons for Utah's status as an innovator in the impact field. By collaborating with students, business leaders, entrepreneurs, and other organizations, the Institute contributes to the growth of the impact investing sector and its contributions to a better future. Macc sees promise to expand the impact investing field by deepening its role in public markets, creating new opportunities for financial performance and stakeholder impact. To help drive this growth, the Institute is currently working on a number of strategic projects, including a multi-year Nature-based Solutions (NbS) initiative. 'There's a real opportunity in investing in nature,' she says. 'The financing gap in that sector is massive, and we believe it's a sector ripe for innovative financing solutions.' In this Q&A, Macc discusses these initiatives and other opportunities she sees for the Sorenson Impact Institute and the impact investing sector as a whole. You've been honored by Utah Business as one of '30 Women to Watch' in 2025. What does this accomplishment mean to you? Receiving this honor is, in many ways, reflective of the key role that impact investing has had in the state of Utah. It's true, Utah is not necessarily at the top of everyone's list as a hub for impact investing—until you dig a little deeper. The state's economic success and business-friendly environment for entrepreneurs and companies of all sizes are relatively well-known. But the reality is the state has been at the forefront of impact investing in a number of ways—from public-private partnerships that were well ahead of the curve to new impact investing strategies for family offices and foundations to innovative approaches in philanthropy. None of this is to mention the huge innovations at the University of Utah, a place where aspirations for unsurpassed societal impact drive the entire campus. Our Institute began here more than 13 years ago and is now in a first-of-its-kind impact ecosystem that houses more than 750 students along with our headquarters. We were founded by Utah native and pioneer in impact, Jim Sorenson. Uniquely, and we think importantly, all of this is happening at a public university. Receiving this honor acknowledges the pivotal role that all of these institutions across public and private sectors have had in growing Utah's leadership in impact investing. It's also an opportunity to introduce impact investing to even more people in Utah. I suspect many of the people who read Utah Business or attend the awards luncheon will be introduced to impact investing for the first time. I'm excited to represent the industry and the Institute in that room. Where do you see the impact field making the biggest difference today? The growth of impact investing has been impressive since its inception in the early 2000s. Once a somewhat radical idea of leveraging capital for good, the field has now influenced the direction of capital, policy, and culture across all sectors worldwide. Currently, the field represents a market of more than $1 trillion. While that's a big number, the biggest difference impact investing has made, I believe, is in changing hearts and minds. Most of us in finance and business weren't taught that there is another way—a better way—to do business, to do good, and to build a world in which we all want to live. Impact investing has consistently demonstrated the ability to do all of those things. Moreover, impact investing catalyzes solutions to some of our most pressing challenges on a global scale. Those are big statements and are often received with even bigger skepticism. But where impact really stands out is in its accountability. We have the data because we measure and report the returns—both financial and social/environmental. There is still enormous work to be done, and we haven't reached the necessary scale to which we aspire, but the foundation and the measurable outcomes are there for all to see. We're growing, and I believe that growth is only going to escalate. What initiatives and research projects is the Institute working on right now that you expect will help build the market for impact? We are currently in the very early stages of several exciting new multi-year initiatives in spaces we find critical for exploration and direction. One that is particularly exciting for me is a large-scale initiative focused on Nature-based Solutions (NbS). Under this initiative, we are leveraging our long-standing expertise in impact finance with Janis Dubno and her team, along with the inclusion of world-renowned ecologist and National Geographic Explorer Dr. Nalini Nadkarni, who is now a Senior Fellow in Residence at the Institute. As part of our NbS initiative, we are working on a series of applied research projects and initiatives seeking to more fully harness the power of nature to address pressing environmental and societal challenges. While there are a few proven financial models for NbS, there are still large gaps to meet global targets, presenting a significant opportunity for investors to generate financial returns as well as measurable environmental and social impact. We're talking with potential funders and collaborators now on these projects. What do you see as the most significant opportunities right now for impact investing to grow? From how and when we talk about impact investing to where we send our capital, I see several strategies to scale the field: How can the impact investing ecosystem continue to build momentum amid shifting public policy and funding changes/challenges? While we aren't a policy shop at the Institute, we recognize the essential role that the public sector can play in our work and our mission. There are some headwinds in this moment for impact investing that I don't want to minimize, but I believe there's a huge opportunity for the field to grow. Impact investors and social entrepreneurs aren't simply do-gooders who act on a moral compulsion to do the right thing; we invest in, build, and amplify practical and scalable solutions to the world's greatest challenges by leveraging capital as a force to drive positive change. Doing that at scale requires partnerships at all levels and across sectors. Political conditions change—sometimes rapidly—not just here in the United States but across the world. We stay the course and identify areas where we can work together to achieve our mission. In other words, some doors may close while others open. Right now, there are numerous areas of overlap and bipartisan support in which we can and are working together toward solutions. One example is the ownership economy, which is creating the conditions by which more people in this country can generate wealth through areas like home ownership and employee ownership. The Sorenson Group, under Jim Sorenson's leadership, is heavily involved in this national effort, and we work in support of and in partnership with those goals. Where do you find new ideas or inspiration for your work? What have you learned recently that has stuck with you? I recently listened to the in-depth Acquired Podcast about the Rolex company, and everyone I've met with since is tired of hearing me talk about it. While it's true that I now want to purchase a Rolex watch, what has lingered in my mind since that podcast has been more about the structure of the company than the watches themselves. The legal and financial structures of the company allowed the executives to make decisions that I wish all company leadership could/would make. Hans Wilsdorf, the founder of Rolex, acquired that freedom for the company in 1960 when he gave the shares of the company to a private trust. For 65 years, the company has enjoyed the ability to make truly independent decisions, free from short-term shareholder interest, investor demands, or quarterly earnings calls. I know that not all companies can follow in Rolex's or Patagonia's footsteps directly, but the Rolex story reminded me how important it is for entrepreneurs to choose the right legal and financial structures to facilitate their objectives. Whether their goals are long-term sustainability, stable job creation, social impact, returns to the community, or innovation within the company, it's critical that founders make sure their legal structure and financing will permit them to make the decisions they need to make in order to achieve them. Connect with Katie Macc on LinkedIn.
Forbes
19-05-2025
- Business
- Forbes
Scaling Opportunity In Finance: Inclusive Pathways To Impact Investing
Through a new partnership with World Education Services, the Sorenson Impact Institute aims to expand the impact investing pipeline by increasing access to an apprenticeship program that connects students with real-world venture capital experience. Sorenson Impact Institute's student-driven apprenticeship provides hands-on training in venture ... More capital and impact investing. As the impact investing sector continues to grow, so does the opportunity to expand access to careers in the field. The next generation of impact leaders, shaped by their education and lived experience, will heavily influence where capital flows. To nurture a broader and more expansive talent pipeline for the impact investing sector, the Sorenson Impact Institute is partnering with World Education Services (WES) to expand access to its Impact Investing Apprenticeship Program. The partnership will support the Institute's Unlocking Impact Initiative — a hands-on, student-driven apprenticeship that provides training in venture capital and impact investing to students from all backgrounds. With support from WES — a nonprofit social enterprise that supports the educational, economic, and social inclusion of immigrants, refugees, and international students in the U.S. and Canada — six students from Miami Dade College and Bowie State University joined the 15 student interns from the University of Utah in the 2024-2025 apprenticeship program. Since 2013, more than 500 student interns have helped to deploy upwards of $62 million into early-stage companies and funds in health equity, climate resilience, workforce development, and financial inclusion. Student interns also have networking opportunities as they make professional and personal connections through the program. Nomzana Augustin, Associate Director of Partnerships and Strategic Initiatives at the WES Mariam Assefa Fund, said the organization's new partnership with the Institute reflects their shared commitment to impact investing as a tool to ensure capital reaches underfunded communities. 'Both WES and Sorensen seek to see new, diverse leaders in finance and investing, which can help shift how capital flows,' she said. 'Sorensen's program has proven impact in creating opportunities for investment leaders, better reflecting the talent that exists. WES is funding the expansion of this program to reach more students who might otherwise be excluded from this kind of opportunity.' In her role at WES, Augustin drives the fund's external partnerships, strategy, and initiatives with funders and other ecosystem partners to advance economic mobility for all. Shannon Meyer, Operations & Student Engagement Associate at the Institute, said WES is an exceptional partner that helps with guidance on updates, recruiting, and other elements of the apprenticeship program. 'They have valuable insights on how to make the recruiting process more accessible to historically underrepresented students so that talented students from all backgrounds can take part in our program.' In this Q&A, Augustin and Meyer discuss the apprenticeship program, its place in their organizational strategies, and their hopes for its influence on the impact investing sector. Nomzana Augustin: As a nonprofit social enterprise dedicated to advancing economic opportunity for all, WES recognizes the importance of empowering new leaders and creating career pathways for individuals with lived experience. Through this partnership, we're excited to see Sorensen continue to nurture young talent from underrepresented backgrounds, opening doors to careers in impact investing and venture capital. By supporting future investing leaders, we can help create a more representative impact investing ecosystem and, in turn, more inclusive economies. Developing representative leadership in finance will help bring impact investing closer to overlooked communities. Shannon Meyer: WES's mission to create pathways to economic opportunity and mobility for underserved communities complements one of the main objectives of our student program: to equip students with the skills and experience necessary to secure competitive jobs or internships following the program. The program immerses students in experiential learning opportunities, equipping them with the tools and experience needed to be successful in the workforce. Additionally, it provides opportunities for each student to network and build social capital with staff, founders, and fellow students across the country. These types of opportunities help build a foundational framework that creates a pipeline of future investment professionals that better reflects the talent that exists. SM: Our partnership with WES has allowed us to make the impact investing student program a paid internship for the first time. This helps us break down one of the barriers for students who might otherwise be unable to accept an opportunity like this due to needing to hold a paying job to support themselves or their families. It also ensures that students can take advantage of the learning opportunities provided by this program regardless of their economic status. This partnership has also enabled us to engage the student cohort in more travel opportunities, like attending conferences or pitch events. NA: The apprenticeship program goes beyond the impact investing field, offering a unique career launchpad. Importantly, the paid program enables students to build social capital for long-term career guidance and mentorship from peers and alumni — for example, at events like SOCAP and with the Morgan Stanley Inclusive Ventures Lab. Students who participate in the program gain new skills that offer opportunities to work in finance, consulting, investment banking, and social impact. Compensation for many of these jobs is generous and can place students well above the national average starting salary. This kind of experience is especially beneficial to students from underrepresented backgrounds who can transform their lives and communities with the resources and opportunities provided through the program. SM: This partnership helps advance our shared workforce development goals by providing students with experiential learning opportunities from day one. Students are tasked with projects and conducting due diligence that ultimately leads to the deal team choosing whether to invest in an early-stage company or not. Allowing students to have hands-on experience with real investment decisions — and real money — before they even graduate college is a massive opportunity, especially for those interested in pursuing careers in impact investing or venture capital. As we look into the future, we're excited about the opportunity to build out our employer network and career pathing for future students with support from WES. This will help drive forward a strong, talented pipeline of future leaders in the industry. NA: Students from various backgrounds build skills, social capital, and their career pathways through this program, which is unique in the impact investing field. We aspire to see more institutions and employers who are open to hiring professionals from underrepresented backgrounds. At WES, we believe that unlocking new talent is not a pipeline problem, but that there needs to be interest and commitment to an inclusive workforce, shifting employer practices. Hopefully, this program can inspire others to open doors to career opportunities for emerging leaders. NA: When WES launched the WES Mariam Assefa Fund in 2019, it was with WES's commitment to advancing participatory grantmaking and investing. This means that decision-making power for funding is given to the communities who know best about the issues affecting them. For example, in 2022, we partnered with Common Future to launch a participatory investing action lab with 16 leaders from eight institutions. During a yearlong initiative, we tested participatory strategies through a collaborative fund and compiled our learnings into a toolkit for other institutions looking to do this work. Investment decisions are rarely made by the communities the capital aims to serve, and participatory investing seeks to change this, leading to more informed decisions. Through our partnership with Sorensen, we hope to share ideas on how to ensure that students are involved in the design of the program as well as investment decisions. The students can bring fresh perspectives and new knowledge on the solutions that could be impactful for communities. For example, if a Bowie State student from a low-income household joins the program, they can share their observations on housing and financial inclusion, informing the decision-making process of an investment in their community or a community similar to theirs, based on their lived experience. SM: WES's approach ensures that programs are designed to meet the actual needs of the communities they serve. Within our program, students are actively involved in program design, bringing fresh perspectives and constructive feedback to me each semester. Our staff team is constantly learning from each other and, more importantly, from our students. We leverage the insights and experiences of our students to ensure that we're continuously adapting our program to be the best it can be for the next generation. SM: Partnerships like this are especially important because they bring together diverse expertise and knowledge to help address some of the challenges we see in today's world. The impact investing ecosystem is constantly evolving, and partnerships like this can drive innovation to help build a more comprehensive and resilient economy for generations to come. NA: It's important that our economies and communities better reflect the country we live in. The impact investing ecosystem will benefit from including leaders of different backgrounds who can help determine where funds go, ensuring that historically neglected communities are no longer overlooked. WES looks forward to telling the stories of the student participants and how the program impacts their careers, lives, and communities. We encourage interested students to apply to the apprenticeship program, and for people to spread the word to promising candidates. Further, we hope this initiative can inspire similar programs and opportunities for more underrepresented talent to gain experience and enter careers in impact investing and venture capital.
Forbes
02-04-2025
- Health
- Forbes
Building Trust And Access For Healthier Latino Communities
Erik Cárdenas co-founded Zócalo Health to increase access to clinical and social care and improve ... More patient experiences for underserved communities. In this Q&A, Sorenson Impact Institute VC & Impact Investing Senior Associate Hunter Conrad talks with Erik Cárdenas, Co-Founder and CEO of Zócalo Health, to learn how the company leans into community and connection to increase access to clinical and social care and improve patient experiences for underserved communities. The Sorenson Impact Foundation, which invests in innovative impact business models enabling resilience, opportunity, and higher quality of life for low-income populations, invested in Zócalo Health in 2024. Erik Cárdenas founded Zócalo Health to help address the healthcare needs of Latinos and other underserved populations, and in turn, help build more resilient communities and a stronger economy. As Cárdenas describes, connecting underserved groups with quality healthcare is a foundational step that creates rippling impact: 'When someone gains access to quality care, it doesn't just improve their health; it strengthens the foundation of their household, boosts workforce productivity, and reduces long-term healthcare costs for the system as a whole,' Cárdenas says. The United States healthcare system faces significant challenges in delivering effective, equitable and accessible care – particularly for low-income communities, people of color, and rural communities. High costs, complex insurance structures, and limited access to primary and preventive care exacerbate disparities, leaving millions underserved or without care altogether–despite the U.S. spending a staggering 18% of GDP on healthcare costs. Because social determinants of health (SDoH) such as housing, education, food access, and transportation are key drivers of health, low-income communities are at elevated risk for poor health outcomes. Zócalo Health's focus on increasing access to quality care by meeting patients where they are in their communities with a holistic care model demonstrated clear alignment with the Sorenson Impact Foundation's investment thesis in the health sector. In addition to the impact for individuals achieved through better health outcomes, a community-based, preventative model such as Zócalo has the potential to reduce reliance on costly, reactive healthcare interventions and more effectively manage chronic conditions, thereby reducing overall costs to the system. 'At a macro level, healthcare equity is a matter of national stability,' Cárdenas says. 'The U.S. Latino population is projected to reach nearly 30% of the total population by 2050. Ensuring that this growing demographic has access to high-quality, culturally competent healthcare isn't just the right thing to do — it's a necessity for the country's economic and social future.' Zócalo Health aims to make a lasting impact by providing culturally aligned services that build trust between the Latino community and healthcare providers. 'It's not just about logistics — it's about deeply ingrained cultural beliefs that shape how Latinos engage with healthcare,' Cárdenas says. 'In California, which is the first market where we are operating, Latinos make up over 50% of the Medicaid population, yet they experience worse health outcomes and lower engagement than other Medicaid members because the system does not meet their needs from a language and cultural perspective.' The community health workers at Zócalo Health, who are hired and trained locally, are familiar with the challenges their patients face. With this perspective, they can better help clients navigate the healthcare system, identify benefits they qualify for, and connect them with support for housing, food, transportation, and other essential services. For Cardenas, access to healthcare is an essential pathway to empowerment. He recently joined me for a conversation about the community-based services that Zócalo Health provides and how they support the company's mission to shape a more equitable healthcare system. Hunter Conrad: Please share a bit about why you established Zócalo and the services it provides. How do they accommodate some of the unique challenges that Latinos face in accessing healthcare services? Erik Cárdenas: Zócalo Health was born out of both a personal and professional calling. Growing up in a predominantly Mexican neighborhood in Houston, I saw firsthand how Latino families struggle to access culturally responsive, affordable, and trustworthy healthcare. Too often, the system feels like an impenetrable maze, particularly for Latinos on Medicaid, who face language barriers, provider shortages, and a deep mistrust of institutions due to years of systemic neglect. Many don't know what benefits they qualify for or how to navigate the system. Others face social barriers like food insecurity, unstable housing, or a lack of transportation, all of which directly impact health. Zócalo Health was created to remove these barriers and provide whole-person care that reflects how Latinos actually engage with healthcare — not how the system expects them to. Our model blends primary care, behavioral health, and community support services through bilingual, culturally competent providers and trusted promotoras de salud (community health workers) who guide members through every step of their care. We also take a flexible approach to care delivery that includes extended hours for working families, proactive outreach, and virtual, in-home, and community-based options. By meeting people where they are, honoring their lived experiences, and eliminating friction points, we're not just delivering healthcare — we're creating a system that Latinos trust and feel ownership over. HC: How does Zócalo help individuals access and navigate the healthcare system – helping to overcome language barriers and a lack of systematic trust? EC: For many Latinos, healthcare isn't just inaccessible — it's alienating. The system is complex, bureaucratic, and historically unwelcoming, leaving people feeling dismissed, misunderstood, or afraid to engage at all. At Zócalo, we bridge this gap by prioritizing trust, language accessibility, and cultural alignment. Our promotoras de salud, who are trusted members of the Latino community, help individuals understand their Medicaid benefits and enroll in services. They go beyond logistics to help address deeply ingrained cultural beliefs that shape how Latinos engage with healthcare. By embedding trust into every interaction, removing language barriers, and simplifying the process, Zócalo Health doesn't just connect Latinos to care — we rebuild confidence in the system itself. HC: How does access to healthcare play out beyond these individuals — to their families, communities, the economy, and society as a whole? EC: In Latino communities, familismo — the cultural emphasis on family — is central to how people live, work, and make decisions. When one family member struggles with a chronic condition, mental health challenge, or unaddressed medical need, it affects everyone. A parent managing uncontrolled diabetes without proper support, for example, may miss work frequently, be unable to care for their children, or experience financial strain from ER visits. A child with undiagnosed asthma might struggle in school, impacting their future opportunities. By ensuring that individuals — especially parents and caregivers — have access to preventive and ongoing care, we're not just improving their lives; we're creating a more stable, healthier environment for entire families. Latinos are the backbone of many industries in the U.S., including agriculture, construction, service, and hospitality. Yet, these same workers often lack access to employer-sponsored healthcare, making Medicaid their primary — if not only — option. Without access to preventive care, minor health issues can escalate into major problems that take individuals out of the workforce, destabilizing families and the local economy. While we are a venture-backed startup, we are deeply committed to social impact. We don't just deliver care; we invest in the very communities we serve. One of the most powerful ways we do this is by hiring and developing community health workers from the same neighborhoods where our patients live. This has impact on two critical fronts: This workforce development approach is a sustainable model for economic empowerment. Rather than relying on external organizations to provide social services, we are building economic opportunity directly within the community, ensuring that wealth and expertise remain where they are needed most. From a broader economic perspective, when individuals have stable employment, access to healthcare, and career growth opportunities, they are better positioned to support their families, contribute to local economies, and break cycles of poverty that have persisted for generations. HC: How does Zócalo work with health plans to coordinate care and clinical services? EC: Zócalo Health is redefining how healthcare is delivered to Latino communities, and a critical part of that mission is our partnerships with Medicaid health plans. While we started in California, where we provide Enhanced Care Management (ECM) and community support services, our model is scalable and replicable. We are actively expanding to other states because the challenges we address — low engagement, fragmented care, and unmet social needs — are not unique to California. Health plans across the country need solutions that effectively reach, engage, and care for underserved populations, and that is exactly what we do. California is home to the largest Latino population in the U.S., and Medicaid plays a vital role in ensuring healthcare access for this community. Despite this, Latinos continue to face significant barriers to care. We provide a community-centered, tech-enabled model that goes beyond traditional clinical care. Our services include ECM for Medicaid members with complex medical and social needs. We also connect Medicaid patients with bilingual, culturally competent providers. By embedding trusted community relationships into our care model, we increase engagement, improve health outcomes, and lower the total cost of care — key priorities for our health plan partners. HC: Describe how you've seen access to healthcare change people's lives. EC: We see every day how trust in healthcare can mean the difference between fear and hope, isolation and engagement. For many Latinos, especially those navigating the uncertainty of immigration policies, fear has become a barrier to care. Patients tell us they avoid leaving their homes, even for basic needs, worried that seeking help could expose them to risks beyond their health. One woman, a Medicaid recipient, had been living in self-imposed isolation, afraid to step outside. She had ignored her own medical needs for months, unsure where to turn. But through Zócalo, she found a safe space. Our promotoras de salud reached out, listened without judgment, and connected her to essential resources. Her story is not unique. Forty percent of Medicaid recipients report receiving care from someone they don't trust. We believe healthcare must earn that trust first. No one prioritizes heart health if they're worried about keeping the lights on, and no one focuses on managing diabetes when they fear losing their home. This is why Zócalo Health exists: to meet people where they are, listen first, and create a system they feel safe engaging with. Only when people feel safe can they truly take charge of their health. Hunter Conrad is a Senior Associate on the Impact Investing team at the Sorenson Impact Institute, where she focuses on driving health equity through strategic investments. With a passion for creating positive social change, Conrad leverages her expertise in building and scaling products in startups to identify and support ventures that address systemic health disparities and improve outcomes for underserved communities. She holds a bachelor's degree in Environmental Health from UC Berkeley and an MBA from the University of Utah where she won the 2024 Kellogg-Morgan Stanely Sustainable Investing Challenge. Erik Cárdenas is the co-founder and CEO of Zócalo Health, a tech-enabled, value-based care provider dedicated to serving entire Latino households facing complex health challenges and unmet social needs. Focused on Medicaid families in underserved communities, Zócalo Health delivers culturally aligned care by meeting individuals where they are, supported by multidisciplinary care teams centered around the effective use of community health workers. Prior to launching Zócalo Health, Cárdenas was a founding team member and senior leader at Amazon Care, where he played a crucial role in leading technical teams and significantly contributed to Amazon's COVID-19 response and global testing initiatives. His entrepreneurial spirit and expertise in health systems are also reflected in his leadership roles at Tenet Health and EverlyWell. Cárdenas earned his undergraduate degree from the University of the Incarnate Word in San Antonio, TX. In 2023, he was recognized by Modern Healthcare, Fierce Pharma, and Rock Health for his innovative contributions to healthcare.
