Individual Leadership Winner (2021)

Dr. Edward T. Jackson 

Project: Assessing Ecosystem Building: The Evaluation of the Convergence Blended Finance Platform

Evaluating the effectiveness and efficiency of ecosystem-building mechanisms is crucial to the growth and improvement of responsible investment. The project submitted here is an evaluation of the Toronto-based Convergence Blended Finance platform commissioned by Global Affairs Canada (GAC) and carried out in 2019-2020 by E. T. Jackson and Associates Ltd., a founding RIA member.

Convergence defines blended finance as “the use of catalytic capital from public or private philanthropic sources to increase private sector investment in sustainable development,” in developing countries (e.g., for renewable energy, sustainable agriculture, gender equality), Through organizational assessment tools, theory of change analysis, grant-portfolio analysis, 70 key-person interviews, comparative spending ratios of peer networks, and a stakeholder workshop to validate preliminary findings, the evaluation generated recommendations that were important factors in GAC Minister’s decision in early 2021 to extend the project and increase its budget and Convergence’s actions to strengthen its performance on gender equality and to further diversify its funding sources.  In turn, Convergence is better positioned to build out the $200B global blended finance space.

The evaluation team, Dr. Edward Jackson, and Mr. Karim Harji, both longtime RIA members, are international thought leaders in the impact management and measurement of blended finance and impact investment.

Finalist: Tony Pringle
Project: Supporting ESG Leadership Among Canadian Alternative Investors

The winner and finalist scorecards can be found here.

Learn more about the 2021 RIA Leadership Awards.