"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and values," John Palfrey, president of the John D.
MacArthur Foundation, says in a press release.
"I look forward to working with the Alliance to continue expanding the reach and effectiveness of impact investing toward a more equitable, inclusive, and sustainable world."
Palfrey is taking on a new role as chair of the US Impact Investing Alliance, an organization "dedicated to building the impact investing ecosystem," per a press release.
The Alliance aims to "place measurable social, economic, and environmental impact alongside financial return and risk at the center of every investment decision," per the Alliance's website.
Palfrey will take over for Darren Walker, president of the Ford Foundation, who has led the Alliance since its founding in 2016.
Walker says in the press release that "the impact investing movement is reshaping our economy and working to deliver a more just and equitable society."
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Tomâ€™s, the social enterprise popular for its shoes, has released a pair of shoes and a pair of shades to benefitÂ Make It Right, a nonprofit founded by Brad Pitt in 2007 that builds affordable, greenÂ homes, buildings and communities for underserved and low-income populations.