Investor's Guide to Multicapital Strategies

At the Center for Sustainable Finance and Private Wealth (CSP), University of St.Gallen (CCSP-HSG), NEXUS, Forward Global and the MIT Sloan Sustainability Initiative, we recognize that wealth holders’ capacity to positively impact the world begins with a deep understanding of their resources, which are far more than just economic. 

We draw on academic theory, insights from practice, and primary research. Through 27 in-depth interviews with experienced investors from Europe, North America, Asia and Australia, we explored how deeply engaged investors and philanthropists strategize the use of their economic and noneconomic resources. Interviewees highlighted the critical role of relationships, reputations, and knowledge in driving impact alongside, or even in the absence of, economic capital. These rich conversations inform our key insights and framework, demonstrating how resource flows can accelerate (or decelerate) impact.

This guide aims to equip current and future wealth holders with actionable approaches to amplify the positive environmental and social impact they have in the world. It also emphasizes that ethical approaches to deploying influence require transparency in decision-making, the incorporation of complementary voices and accountability for actions—principles that become even more crucial as wealth holders activate diverse forms of capital.