News and views
Viewpoint: The current need for alternative “rating agencies” is huge
Our pioneering approach to rating alternative asset classes is now being extended to the social investment sphere. The Rockefeller Foundation announced at the 2009 Skoll World Forum in Oxford its plans to develop an ethical credit rating agency that assesses the credentials of social enterprises so as to help build "infrastructure" for social entrepreneurs. This is much like the pioneering "infrastructure" we are trying to develop for philanthropists.
The "infrastructure" is especially important in these times of crisis when philanthropists may be more nervous about supporting overseas charities. World poverty trends are rapidly being reversed with the World Bank estimating that as many as 53 million more people could be trapped in poverty as economic growth slows around the world on top of the 130-155 million people already pushed into poverty in 2008 because of soaring food and fuel prices. It is therefore extremely important at this point in time to help maintain confidence in charitable giving to developing countries.
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