Investing for impact

Foundation North has leveraged a portion of its investment portfolio for impact investment to support its charitable mission of increasing equity, social inclusion and regenerative environments. In 2021, Foundation North provided seed funding for Te Pae ki te Rangi Impact Fund (interpreted as from the horizon to the heavens) with a $20 million commitment. During the year to the end of March 2023, Te Pae ki te Rangi made one new investment in Anew, bringing the total number of portfolio companies to four. Te Pae ki te Rangi is excited by the strong pipeline of further investment opportunities currently being explored.

Portfolio company Anew (formerly known as For the Better Good) is a fully circular packaging company, using PLA bioplastics to reduce the environmental impact of single-use plastic bottles. Anew’s system gives businesses the opportunity to integrate collection and re-use into their product supply chains.

Foundation North is an active member of the Impact Investment Network Aotearoa New Zealand, connecting, educating and advocating to grow the impact investing sector.

Foundation North holds in trust for the communities of Tāmaki Makaurau and Te Tai Tokerau a pūtea, or endowment, of over $1.6 billion in perpetuity. As such, the Foundation has a financial as well as social responsibility to its stakeholders.

Stakeholders expect the Foundation to invest responsibly, including integrating Environmental, Social, and Governance (ESG) factors into investment decision-making and ownership practices. As all investments create impact, the Foundation aims to minimise harm and seek positive impacts while generating wealth.

The Foundation strongly believes that climate change is an urgent global issue to address and supports actions to help deliver the goals of the Paris Agreement. As such, the Foundation aims to transition its investments to achieve net zero portfolio greenhouse gas emissions by 2050 or sooner, with regular reviews of alignment with the target.

Read more about our Investment Approach in full