The 2013 Annual Report
An early leader in the study and practice of resilience, The Rockefeller Foundation has committed more than a half-billion dollars to help cities and communities of all kinds build their economic, social, and climate resilience. These investments include work and pre- and post-Sandy New York, post-Katrina New Orleans, rapidly growing Asian cities, and agricultural innovations in African countries.
To move this work forward, the Foundation launched 100 Resilient Cities, dedicated to helping 100 cities become more resilient to the crises that are a growing part of the 21st century. Each selected city will receive funding to hire a leader to serve in a new, innovative position: a Chief Resilience Officer, or CRO—a top-level manager, reporting to the mayor, tasked with building and leading a resilience strategy for his or her city. Click the left arrow to meet some of the very first CROs in history.
MEET THE CHIEF RESILIENCE OFFICERS
Patrick Otellini (San Francisco, US)
After serving as San Francisco’s first “earthquake czar” – in a city with a 67 percent chance of facing a major earthquake within the next 25 years—Patrick Otellini’s portfolio was broadened to encompass all resilience building efforts, and making him the world’s first CRO.
Christine Morris (Norfolk, US)
A former executive at the Hampton Roads Community Foundation, Christine Morris is poised to take Norfolk’s efforts to build resilience to the next level by initiating interdisciplinary teamwork and spearheading a project for flood protection—especially in light of looming threats of sea level rise and flood risk.
Oscar Santiago Uribe Rocha (Medellín, Colombia)
Before being named as Medellin’s first Chief Resilience Officer, Oscar Santiago spent half his life—beginning in 1997 with an exchange study program—traveling between Colombia and South Africa, serving as a conduit for ideas and innovations between the two countries. In the course of this work, he met and learned about resilience from leaders like Nelson Mandela and Archbishop Desmond Tutu.
Given the challenges and opportunities of our rapidly globalizing, disruptive, and complex world, The Rockefeller Foundation works to advance inclusive economies that expand opportunities for more broadly-shared prosperity, especially for those facing the greatest barriers to improving their well-being.
To that end, The Rockefeller Foundation has been an early pioneer in the movement for innovative finance as a critical tool for leveraging private capital for public good and creating more inclusive economies. The Foundation funded nearly $50 million to build the impact investing field and develop the evidence-base for program-related investments. In 2013, innovative finance experienced a groundswell of engagement from governments, nonprofits and private enterprise stakeholders. Click the right arrow to see some of the major milestones from the year.
JANUARY—NEW SURVEY SHOWS IMPACT INVESTING GAINING STEAM
JP Morgan and the Global Impact Investing Network (GIIN) release a report “Perspectives on Progress” on the promising nature of impact investments. The survey of 99 managers of impact funds revealed that investors planned to commit an estimated $9 billion in impact investments in 2013, a $1 billion increase from 2012.
APRIL 10—"PAY FOR SUCCESS" INCLUDED IN u.s. FEDERAL BUDGET
U.S. President Barack Obama requests nearly $500 million in his 2014 federal budget for "pay-for-success" bonds, otherwise known as social impact bonds (SIBs), including $300 million to incentivize state and local governments to develop SIBs. This unprecedented request encouraged state and local governments to fund critical social programs through a combination of government initiation, private investment, and nonprofit implementation.
MAY 22—RE.INVEST SELECTS EIGHT PARtNER CITIES FOR STRONGER, MORE RESILIENT WATER SYSTEMS
The cities of Hoboken, El Paso, Honolulu, Miami Beach, Milwaukee, New Orleans, Norfolk, and San Francisco are selected by RE.invest, a public-private partnership funded by The Rockefeller Foundation, to receive support in building integrated infrastructure. Corporate partners will work with cities to bundle revenue streams and leverage private investment to enhance urban infrastructure projects, including a specific focus on improvements that benefit poor or vulnerable communities.
JUNE 6—THE G8 HIGHLIGHTS SOCIAL IMPACT INVESTMENT
The 2013 G8 Social Impact Investment Forum convenes in London, just days before the G8 meeting. It brought together government leaders with the world’s financial and philanthropic experts, including Rockefeller President Judith Rodin, to discuss actions for building a strong global impact investing community. United Kingdom Prime Minister David Cameron announced the launch of the Social Impact Investment Taskforce, charged with making recommendations on growing this field.
SEPTEMBER 16—THE ROCKEFELLER FOUNDATION LAUNCHES EFFORT TO HELP IMPACT ENTERPRISES THRIVE
Impact enterprises are a promising means to address the challenges facing the poor and vulnerable, but often lack the scale to have significant impact. Building on its success in mobilizing impact investors, The Rockefeller Foundation begins work focusing on expanding the capacity of impact enterprises to absorb the private and commercial sector capital that is looking for investable projects in the social sector.
DECEMBER 30—NEW YORK IS THE FIRST STATE IN THE NATION TO LAUNCH PAY FOR SUCCESS PROJECT AS AN INITIATIVE TO REDUCE RECIDIVISM
New York becomes the first U.S. state to launch a "pay-for-success" program with a $1.3 million investment from The Rockefeller Foundation. Governor Cuomo announced the initiative which aims to reduce recidivism through job training and placement in Rochester and New York City over a four-year period. Similar deals in other states are in the works.