Calvert Impact Appoints Andrew Marino as New Board Chair in Strategic Leadership Transition

Calvert Impact has announced the appointment of Andrew Marino as its new board chair, effective January 1, marking a significant leadership transition for the global nonprofit investment firm. Marino, a partner at Summa Equity, succeeds Bart Harvey, who has led the board for the past ten years. With several decades of private market investment and corporate governance experience, Marino brings significant expertise in impact and climate-oriented investing. In his current role at Summa Equity, he leads the group's North American activities and serves on the board of Climate United, a coalition that includes Calvert Impact.

CEO Jennifer Pryce highlighted the strategic importance of Marino's appointment, noting that his expertise will be valuable as the organization develops its new strategic plan. Marino expressed honor in succeeding Harvey and partnering with the team to guide Calvert Impact through its next growth phase. Harvey's departure concludes a decade of transformative leadership. As the former chairman and CEO of Enterprise Community Partners, he played a crucial role in creating the Low-Income Housing Tax Credit and launching the Green Communities initiative. Pryce praised Harvey's instrumental guidance in shaping Calvert Impact's innovative approach and driving substantial organizational growth.

Calvert Impact has a proven track record of mobilizing capital for social and environmental impact, having deployed more than $5 billion over the past 30 years through various investment products and partnerships. These include the Community Investment Note®, Cut Carbon Note®, Access Small Business Program, Mission Driven Bank Fund, and Climate United. The leadership transition represents a strategic moment for the organization, positioning it to continue its mission of helping investors and financial professionals support solutions that benefit people and the planet. This matters because it signals a deliberate shift toward deepening climate-focused expertise at the helm of a major impact investing institution, potentially influencing how billions in capital are directed toward environmental solutions.

The appointment underscores the growing importance of specialized climate finance knowledge in leadership roles within the impact investing sector. Marino's background at Summa Equity and his board role with Climate United directly align with Calvert Impact's work in climate solutions, suggesting a strategic focus on scaling climate-related investments. This transition occurs as global demand for climate finance intensifies, making experienced leadership in this niche critical for organizations aiming to mobilize capital effectively. The move also reflects continuity in mission-driven governance, with Marino building upon Harvey's legacy of innovation in social and environmental finance.

For the broader impact investing field, this leadership change highlights the maturation of the sector, where specific expertise in areas like climate investing is becoming a prerequisite for top governance roles. Calvert Impact's track record, including products like the Cut Carbon Note®, demonstrates its commitment to climate action, and Marino's appointment reinforces this direction. The implications extend beyond organizational strategy, potentially influencing how other financial institutions approach leadership selection in the growing field of sustainable finance. As climate challenges become more urgent, the expertise brought by leaders like Marino will be essential for directing capital toward meaningful, scalable solutions.