04.29 / 2022
The name Rockefeller is often associated with wealth and influence. As the founder of Standard Oil and a banking giant, the family is known for generations of business and political success. At the beginning of the 20th century, the elder Rockefeller said, “We must always remember that the funds for the advancement of mankind are not abundant, and there will never be enough. Therefore, we should maximize ingenuity to make the best use of endowments.” The elder Rockefeller recognized that, effective philanthropy was not just about donating money, it also required prudent consideration and goal-oriented strategies—such understanding has always guided his offspring.
Social innovation is always the most fundamental driving force for social development. As the vice president of Rockefeller Philanthropy Advisors, Heather Grady, in her book “Key Driving Forces of Social Innovation”, discusses how social impact investing and social enterprises can be effectively managed, how foundations can conduct social impact investing, how to assess social impact investing and what are the measurement and reporting tools for social impact investing, and provides a methodology for them. In 2017, CGPI introduced and translated this book, with a view to deeply interpret the key concepts, practical steps and project evaluation of impact investing, and share the practice cases of impact investing in different fields in China and the United States, so as to provide rich perspectives and a global vision for Chinese readers to implement social innovation.
Heather’s experience in philanthropy advising draws on her two decades of living in Asia, Africa and the Middle East. During this time, she has managed a range of development and humanitarian programs on topics such as education, living, health, agriculture and microfinance. When it comes to the main motivations of impact investing, Heather believes that they are generally divided into: personal experience, rational analysis, family factors, social heritage, and heritage protection. The four core characteristics of impact investing itself are investment intention, investment return expectation, investment return range and asset class, and impact measurement.
About the author: Heather Grady, vice president of Rockefeller Philanthropy Advisors and visiting professor at the China Global Philanthropy Institute. She leads the direction of Rockefeller Philanthropy Advisors’ strategy and program development in global philanthropy, including collaborations, global programs, research, and publications. Prior to joining the Rockefeller Foundation, Heather served as managing director of “Realizing Rights: The Ethical Globalization Initiative”, launched by former Irish President Mary Robinson.