In 2019, close to a billion people still lack access to modern forms of energy, and nearly 3 billion people remain reliant on kerosene, wood, and other heavily-polluting forms of biomass to cook and heat their homes. This massive energy imbalance has devastating impacts on community health, education, and economic growth. Last week Shine participated in the NEXUS Global Summit, to explore solutions to pressing problems in 2019 and beyond. The two-day conference convened leading philanthropists, impact investors, and social innovators from around the world. Connecting the financial, intellectual and social capital in an action-oriented, solutions-focused space, the NEXUS Global Summit promotes learning and collaboration between a uniquely powerful network of peers.
The Shine Campaign’s Emira Woods and Mark Correnti led dialogue exploring why it is imperative for investors to respond to the challenge of ensuring access to safe, dependable and affordable energy for all and how to get energy to the last mile. Highlights included a discussion about the power of strategic partnerships with social entrepreneurs to leverage between 10-20 times the value of an investment, and a challenge to the leaders gathered to prioritize these types of catalytic investments now in order to ensure universal access to clean energy by 2030.
Nexus has found, and discussed presented to the summit, that the transfer of wealth to millennials is taking place at a much quicker rate than expected. Due to this transfer of inheritance happening at a much younger age, it could have profound positive results on values-driven investing over time. Considering millennials are strongly inclined to investing in organizations that are ethical and promote social causes, the potential to accelerate investment in clean, reliable, renewable energy around the world is great. Values-driven investors can build momentum toward energy equality – with immeasurable humanitarian and climate-related impacts. Together we can break the devastating cycle of energy inequality, the benefits will speak for themselves.