Redefining Impact Investment

credit: John Peter Lee, Ltd.

The world's richest people are putting their money where their mouth is.

The world's richest people, in fact, are putting their money where their mouth is.

Bill and Melinda Gates have announced the creation of the Giving Pledge, which will see the Gateses donate $100 million over the next five years to groups that make a positive difference in the world, Bloomberg reports.

"We just want our money to do something meaningful," Melinda Gates tells Bloomberg.

"They want to achieve impact not just philanthropy but also with their portfolio, and they're willing to consider farming spectrum of risk returns."

The Giving Pledge was inspired by the couple's concerns about "greenwashing" farmers and the lack of transparency in environmental, social, and governance (ESG) data, Bloomberg notes.

The couple has also created the Giving Initiative, which will invest in companies that make a positive difference in the world through social, economic, or environmental causes, according to a press release.

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