The NAB Foundation has introduced a new Impact Investing Fund (IIF) aimed at enhancing its social and environmental contributions. This initiative is part of the foundation's $170 million total corpus. The announcement was made by NAB Group Executive and JBWere Chair, Cathryn Carver, during her address on sustainable investment solutions for Australia's housing crisis at the Asia Pacific Impact Investment Summit in Sydney.
The foundation has committed $25 million to the IIF, with $10 million already invested. It plans to increase this amount to $50 million by October 2026. The fund focuses on investments that generate positive social and environmental impacts while ensuring appropriate financial returns.
Cathryn Carver stated, "The NAB Foundation is already supporting crucial community initiatives by providing up to $6 million in philanthropic grants and partnerships each year." She emphasized that directing capital towards impact investments creates opportunities for lasting change.
JBWere will manage the IIF as the NAB Foundation’s investment manager. Michael Saadie, CEO of JBWere, highlighted the growing interest in impact investing among investors seeking both performance and purpose. He noted, "JBWere is the leading advisory firm in Australia, with more than $64 billion under advice."
A specialist Investment Committee has been formed to oversee the fund's operations. Ben Smith, Head of Impact Investing at Paul Ramsay Foundation and chair of the committee, expressed enthusiasm about working with NAB Foundation's willingness to invest across various risk/return spectrums for high-impact returns.
NAB Foundation aims to tackle social and environmental challenges through philanthropy and social investment. Its focus areas include natural disaster resilience, climate transition, First Nations economic advancement, and affordable housing.