From philanthropy to impact investment: Private sector initiatives for development in Brazil and the UK

我的博士研究项目探讨了英国和巴西的慈善基金会和信托基金的工作，以及他们富有的创始人的雄心和目标。它关注的是“慈善资本主义”的增长，这是比尔·盖茨、比尔·克林顿和乔治·索罗斯等全球知名慈善家最近开创的一种趋势，试图使慈善事业更加“商业化”和战略化。我探讨了这一全球慈善趋势与财富精英和第三部门组织之间的本地化关系之间的交叉点，这些关系随着两国近几十年来不断变化的政治格局而发生变化。与此同时，我的项目探讨了慈善事业在创造“社会责任”的财富身份中所发挥的作用，以及在家族企业中建立企业社会责任的历史叙述。最后，我的研究考察了巴西和英国的慈善顾问在促进慈善事业作为社会变革的战略工具方面的工作。在奖学金期间，这个博士项目将通过进一步研究巴西和英国的慈善投资者和发展机构中新兴的影响力投资实践来发展。影响力投资将资本投资于社会企业和金字塔底层计划（为穷人创造产品和服务），以追求财务回报和社会影响。我将研究影响力投资者如何使用指标和指标来衡量社会影响力，从而证明他们在实现社会目标的同时也实现了财务目标。同时，我将研究影响力投资如何促进私营部门和国家行为者之间的合作，以及这种合作如何塑造巴西和英国的发展政策制定和实践。通过研究新形式的公私伙伴关系如何日益塑造全球发展议程，我的博士学位和对影响力投资的进一步研究将扩大我之前对慈善基金会在社会领域基本上自主运作的关注。我的博士学位和对影响力投资的进一步研究都试图为关于企业和金融部门社会作用的主题辩论做出贡献。2007-2008年的全球金融危机使公众对这些部门失去了很多信任，在全球不平等日益扩大的背景下，重新出现了关于企业社会责任的辩论。在这些辩论中，人们讨论了社会企业和金字塔底层商业倡议提供的可能性;专门设计的企业模式，以将财务和社会目标纳入其目的。因此，影响力投资成为投资市场的理想运作模式，该市场旨在为这些举措提供资金，并寻求通过这些举措实现社会和发展目标。我对巴西和英国的慈善事业和影响力投资的调查旨在为这些关于私营部门在地球仪不同地方的社会作用的辩论做出贡献。ESRC博士后奖学金将使我能够通过学术出版物传播我的博士项目的发现和进一步的研究，并在英国，巴西和其他地方的会议和研讨会上展示我的研究成果。它将通过直接针对这些受众的部门出版物，并通过进一步介绍我在该部门的研究，为慈善事业和社会投资领域的从业者提供研究传播的机会。在奖学金期间，我还将通过与慈善家，影响力投资者和社会企业参与者在巴西和英国的研究合作，寻求知识交流和影响力的机会，在慈善事业和影响力投资的实践和决策方面。

My PhD research project explored the work of philanthropic foundations and trusts in Britain and Brazil, and the ambitions and objectives of their wealthy founders. It focused on the growth of 'philanthrocapitalism', a recent trend pioneered by globally renowned philanthropists such as Bill Gates, Bill Clinton and George Soros, which attempts to make philanthropy more 'businesslike' and strategic. I explored the intersections between this global philanthropic trend and localised relationships between wealth elites and third sector organisations, which have shifted in accordance with the changing political landscapes of both countries over recent decades. In parallel, my project explored the role played by philanthropy in the creation of 'socially responsible' identities of wealth, and the building of historical narratives of corporate social responsibility within family businesses. Finally, my research examined the work of philanthropy advisors in Brazil and the UK, in promoting philanthropy as a strategic tool for social change.During the fellowship, this doctoral project will be developed through further research on the emerging practice of impact investing among philanthropic investors and development agencies in Brazil and the UK. Impact investing sees capital investment into social businesses and Bottom of the Pyramid schemes (creating products and services for the poor), in pursuit of both financial return and social impact. I will examine how impact investors use metrics and indicators to measure social impact, and thus demonstrate their achievement of social alongside financial goals. In parallel, I will investigate how impact investing fosters collaboration between private sector and state actors and how this collaboration shapes development policymaking and practice in Brazil and the UK. This further research will expand my prior focus on philanthropic foundations operating largely autonomously in the social sphere, by examining how the global development agenda is increasingly shaped by new forms of public private partnership.My PhD and this further research on impact investing both seek to contribute to topical debate on the social role of the corporate and financial sectors. The global financial crisis of 2007-2008 saw much public loss of trust in these sectors, and the emergence of a renewed debate on corporate social responsibility in a context of widening global inequalities. Within these debates, discussion is taking place on the possibilities offered by social enterprise and Bottom of the Pyramid business initiatives; corporate models designed specifically to incorporate both financial and social objectives in their purpose. Impact investing thus emerges as the ideal operational model for an investment market designed to both finance these initiatives and seek the achievement of social and development objectives through them. My enquiry into philanthropy and impact investing in Brazil and the UK aims to contribute to these debates on the social role of the private sector in diverse localities around the globe.This ESRC postdoctoral fellowship will enable me to disseminate the findings of my doctoral project and this further research through academic publications and the presentation of my research at conferences and seminars in the UK, Brazil and elsewhere. It will provide opportunities for research dissemination among practitioners in the fields of philanthropy and social investing, through sector publications aimed directly at these audiences, and through further presentation of my research in the sector. During the fellowship, I will also pursue opportunities for both knowledge exchange and impact, on practice and policymaking in philanthropy and impact investing, through collaborative work with philanthropists, impact investors and social enterprises participant in my research in Brazil and the UK.