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V O L . X X V I I N O. X X V I N OV E M B E R 2 9 , 2 0 2 1 26 B A N K I N G / F I N A N C E / I N S U R A N C E F O C U S power of investing, but of the possi- bility to become an investor. "Women in general struggle with this," she says. "'I'm a business owner, I'm a mom, I'm a bicycle rider.' I have to start thinking, 'I'm also an investor.' Once you do that, you start to become active and not passive." "Know what you own" is a phrase com- mon among impact investors, she says. "But that should be for every inves- tor," she continues. "If I'm putting all this money into some kind of account, shouldn't I know what that is and that it's not hurting anyone? at aware- ness is growing. Once you know what you own, you say, 'How do I feel about that?' en you can be intentional about what more you can be doing with your money. It's very personal and very values-aligned." Measuring outcomes Just as the definitions and categories vary, so also do measures of outcomes. "ere's no standard definition for impact investing — that's the good news and the bad news," says Graham. "e good news is to say, is is what I care about and I can make this investment and see if I can get a return because, for example, I care about pre- serving Maine's forests." e bad news is that there's no single standard for measuring outcomes. "You can make an impact investment and I'll make one and our measures of success can be wildly different," she says. Work is ongoing to create standards, and individual companies are even com- ing up with their own — looking at car- bon footprint and diversity, for example — in response to growing demand from investors, says Graham. "Some companies will say, 'We have zero tolerance for fill-in-the-blank,'" she says. "Companies are still self-reporting and there's no one mandated reporting schedule. It would be great if the mar- kets required that." Deeper conversations All in all, in this heightened arena, con- versations can be meaningful. "It's one thing when you're dis- cussing a client's financial goals," says Moore. "at's one level of conversation you have, to make sure their needs are met. But it's a whole different relationship when you ask, 'What's important to you? Are there any values or conviction concerns you have, anything we should be aware of to make sure they're reflected in your investment?' at's a deeper, richer conversation." Laurie Schreiber, Mainebiz senior writer, can be reached at lschreiber @ mainebiz.biz » C O N T I N U E D F RO M P R E V I O U S PA G E Investing in Maine's Future John Aromando FINANCIAL INDUSTRY LITIGATION Rebecca Greenfield REAL ESTATE, COMMERCIAL DEVELOPMENT Ryan Kelley COMMERCIAL TRANSACTIONS, BANKRUPTCY & CREDITORS' RIGHTS Emily Cooke CONTRACTS, AGREEMENTS, COMPLIANCE Margaret Smith REAL ESTATE, COMMERCIAL DEVELOPMENT Matt Stein DATA PRIVACY & TECH TRANSACTIONS Lucus Ritchie FINANCIAL INDUSTRY LITIGATION Molly Liddell TRUSTS & ESTATES, BUSINESS SUCCESSION For over years, Pierce Atwood has built a reputation in Maine as a firm that attracts and retains superb legal talent, delivering superior client satisfaction and exceptional value. Our attorneys have helped startups grow into vital Maine businesses, advised companies on succession planning and valuation, navigated financing and land use issues for major real estate developments, facilitated strategic acquisitions and mergers, protected ideas and new technologies, and assisted employers in recruiting and retaining skilled employees. How can we help take your business to the next level? Let us know. We're here to help. Pierce Atwood. There's a reason… Merrill's Wharf . Commercial Street . Portland, Maine •• . •••••• -€‚‚ƒ.•‚„ If I'm putting all this money into some kind of account, shouldn't I know what that is and that it's not hurting anyone? — Christen Graham Giving Strong P H O T O / C O U R T E S Y O F M I R A N DA R I C O Christen Graham, founder of the social impact consulting firm Giving Strong, says development of a set of standards for impact investment would help measure outcomes

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