Our 2024 Community Investment Note® Impact Report, "Taking Action for Communities & Climate"

Please find our 2024 Impact Report below, or download

A message from our leadership below:

October 2024

This October, Calvert Impact enters our 30th year of operations. When we began selling the Community Investment Note® back in 1995, we had a bold vision to enable all investors to support affordable housing, community development, and microfinance organizations around the world. Over time, our strategy has evolved and expanded in response to the needs of our partners and the interests of our investors. Today, the portfolio financed by the Community Investment Note® is invested across nine sectors, with an emphasis on climate solutions like renewable energy and environmental sustainability. But at its heart, the portfolio remains focused on meeting community needs.

As the portfolio has grown in size and scope, our investment approach remains unchanged: we still believe in the power of relationships. We don't just crunch numbers; we get to know our partners beyond their financials, which allows us to tailor our capital to their needs and maximize impact in the process.

This emphasis on relationships enables our understanding of the breadth, depth, and most importantly, the nuance of the impact our portfolio partners create, which is detailed in the pages that follow. We know that impact doesn’t sit neatly in silos but is multi-dimensional and interconnected: our climate work is essential to gender equity; our commitment to racial equity means a commitment to a deep understanding of affordable housing, small business finance, community development, and more. We embrace this complexity, knowing that real change doesn't happen in a vacuum.

Your decision to invest in the Community Investment Note® sets in motion a powerful ripple effect that reaches beyond your portfolio – and ours. Without you, none of our work would be possible. So, from our entire team, thank you for believing in our vision, for fueling our mission, and for all you do for communities and climate.

Catherine Godschalk
Chief Investment Officer

Justin Conway
Chief Product & Partnerships Officer

Jennifer Pryce
President & CEO