Global Impact Investment Firm Calvert Impact Appoints New Board Chair Amid Strategic Shift

Calvert Impact, a global nonprofit investment firm managing over $5 billion in mission-driven assets, has named Andrew Marino as its new board chairman, marking a significant leadership transition that could reshape the impact investing landscape. Marino, currently a partner at Summa Equity, brings extensive experience in climate-oriented investing and private market investments to the role.

The timing of this leadership change is particularly significant as Calvert Impact develops a new strategic plan. Marino's appointment could accelerate the organization's focus on climate finance and sustainable investments, given his current role on the board of Climate United and his experience managing North American activities at Summa Equity.

Marino succeeds Bart Harvey, whose decade-long tenure as board chair saw Calvert Impact evolve into a major force in impact investing. Harvey's legacy includes pioneering work in affordable housing finance, including helping create the Low-Income Housing Tax Credit, which has become the primary financing mechanism for affordable rental housing in the United States.

This transition comes at a crucial time for the impact investing sector, which is experiencing rapid growth as investors increasingly seek to align their portfolios with environmental and social goals. Calvert Impact's role in managing part of the National Clean Investment Fund and its range of innovative financial products, including the Community Investment Note and Cut Carbon Note, positions the organization at the intersection of institutional finance and impact investing.