The Rockefeller Foundation is aiming to connect social entrepreneurs with capital to finance an array of ventures aimed at mitigating or dealing with the effects of global warming, according to environmental-news site GreenBiz. The grant maker's plans includes helping finance efforts to develop renewable-energy technogies, deliver clean electricity to rural India, and create insurance products for extreme-weather events in Africa.
Lorenzo Bernasconi, the foundation's senior associate director of innovative finance and impact investing, outlined the effort in an interview with Yale University’s Clean Energy Finance Forum that was reprinted by GreenBiz. He said the work is part of the Rockefeller's focus on resilient cities and economic inclusiveness and supports the United Nations’ Sustainable Development Goals and the global climate agreement forged last fall in Paris.
Rockefeller has been a pioneer among traditional foundations in pursuing impact investments. “As a philanthropic institution, we are in a privileged position to do this because we can take on development risks and make significant investments to help launch pilot transactions that traditional market players cannot,” Mr. Bernasconi said.