Impact investing won’t replace philanthropy but will push firms towards CSR, says Rockefeller Foundation Chief
Friday, October 24, 2014
For over a century now, The Rockefeller Foundation has been at the forefront of a number of initiatives to ’promote the wellbeing of humanity throughout the world’. Arguably among the most influential foundations in the world, it has modified its programmes in keeping with the changing times. Judith Rodin, the president of the Foundation recently co-authored a book with Margot Brandenburg, The Power Of Impact Investing. Impact investing, or investing in projects with a fixed social or environmental outcome and financial returns, offers investors a middle path between philanthropy and market driven solutions.
Prior to joining the foundation in 2005, Rodin was president, University of Pennsylvania, and provost of Yale University. She has worked to recalibrate the focus of the foundation to meet the challenges of the future and the Impact Investing Initiative is one such move. The idea behind the book was to help those on the sidelines determine whether impact investing was the solution to their investment and social objectives and to help ensure that it becomes a viable means of investing worldover. Rodin has authored over 200 academic articles and written 13 books. She explained how impact investing can make a difference and how people can get started with it. Edited excerpts: