Treasurer Summers Announces Chicago as First City to Join US SIF
Summers moves to bolster efforts in sustainable, responsible and impact investing in the city’s portfolio
Washington, D.C. – Chicago City Treasurer Kurt Summers announced today that the City Treasurer’s Office has joined US SIF: The Forum for Sustainable and Responsible Investment, making it the first city entity to become a member of the industry-leading group.
The move comes as Summers continues to pursue a new investment strategy for Chicago that seeks to make a positive impact on some of the most fundamental challenges facing Chicagoans, from climate change to worker rights to gender and racial equity, while also generating better risk-adjusted returns with its $8 billion investment portfolio.
“The decision to join US SIF connects Chicago with the top firms and thought leaders focused on impact investing and keeps the city on the cutting edge of responsible and sustainable practices,” Summers said. “Moving the portfolio to carbon neutrality, screening every corporate security for environmental, social and governance factors, and signing on to the United Nations-supported Principles for Responsible Investment are among our most important initiatives for Chicago’s investment portfolio.”
“This membership will provide access to critical resources and collaborative innovations needed to help achieve these goals and create a path for other government and institutional investors to follow,” he said.
US SIF is a leading voice advancing sustainable, responsible and impact investing across all asset classes in the United States. Its mission is to rapidly shift investment practices toward sustainability, focusing on long-term investment and the generation of positive social and environmental impacts. The nonprofit organization’s more than 200 members include investment management and advisory firms, mutual fund companies, asset owners, research firms, financial planners and advisors, broker-dealers, community investing organizations and nonprofit organizations.
“We are proud to welcome Chicago as a member of US SIF,” said Lisa Woll, the CEO of US SIF. “Chicago is a great example of a community that seeks to have an impact with their investment dollars and stewards resources in a way that can have a positive impact on society.”