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One of the world's biggest asset managers is taking a stand against climate changeby investing in some of the world's poorest countries.
Envestnet, which has more than $100 billion in assets under management, has teamed up with the Sustainable Investment Forum to invest in countries with some of the world's most vulnerable people, including the world's poorest regions, the New York Times reports.
Envestnet will invest in micro, small, and medium-sized companies in countries such as Democratic Republic of Congo, Mozambique, and Malawi that have some of the world's highest rates of poverty.
The company, which has a presence in more than a dozen countries, aims to break the cycle of poverty by helping people start and grow businesses.
"We fully vet them, we do due diligence and form relationships with institutions that identify recipients of the loans, and the loans enable people to start or grow businesses," Bob Helmuth, Envestnet's impact and development strategist, tells Equities.com.
"They use this money to break the cycle poverty, to ensure that their families are taken care of through the income that they make, and that, in turn, uplifts communities and populates the world."
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