12月7-8日，由全球社会价值投资网络（Global Impact InvestingNetwork, GIIN）主办的2016社会价值投资者年度峰会（GIIN Investor Forum 2016）在荷兰阿姆斯特丹召开，友成企业家扶贫基金会创始人兼理事长、社会价值投资联盟（深圳）创始主席王平女士作为中国的唯一代表应邀参会，并在“Foundations’involvement in impact at differing stages with differing methods”主题研讨会上，发表以“基金会在社会价值投资中的作用”为题的讲话。
Gayle Peterson 牛津大学牛津社会价值投资计划项目主任，Saïd商学院副院长
John Balbach 麦克阿瑟基金会项目主任
Christine Looney 福特基金会高级项目投资主任
首先请允许我简要介绍一下我所代表的友成基金会。十年前，我与多名商界领袖、学术精英共同成立了友成企业家扶贫基金会（简称“友成”），英文名China Social Entrepreneur Foundation。
友成最显著的孵化成果之一就是社会价值投资联盟（China Alliance of Social Value Investment,CASVI）的成立。为动员更多的商业力量参与到社会变革中，我们与来自投资、金融、商业、学术、公益等领域的50余家机构共同发起成立了社投盟，这个多元、纵横跨界的平台，将小到草根组织、大到国际机构包罗其中，有效对接社会价值投资的供给方和需求方。
社投盟是中国首家合法注册的联盟类社会价值投资推动机构，同时具有国际化的特性——Calvert Foundation 创始人Wayne Silby先生、UN Social Impact Fund（UNSIF）全球负责人David Galipeau先生都是社投盟的理事，一些国际专家也在社投盟战略委员会中担任委员。
我们自主研发了三A（Aim, Approach, Action）社会价值评估网络平台，为企业/投资的战略、模式、结果以及最重要的三个A之间的一致性进行评分。在这方面，我们正与UNSIF进行合作，同时也欢迎IRIS、B Corp以及其他社会价值评估机构的加入。想要了解更多信息，您可以与社投盟秘书长白虹女士、友成基金会秘书长零慧女士联系，她们就在这个会场上。
中国的国情有其独特之处，政府的力量很强大也很有效。中国政府通过国有企业在农村和贫困地区的投资来支持当地的发展，我们有政府的软性贷款，还通过PPP（Public Private Partnership）的方式进行基础设施建设，这其中政府给予了很多的优惠政策。
Topic: Foundations involvement in impact at differing stages with differing methods
• Advancing core social and environmental goals through impact
• The role foundations can play in using grants to de-risk impact investments
• Opportunities for impact: can investor strategies be streamlined?
• The next generation: how foundations strategies are changing
Gayle Peterson, Programme Director, Oxford Impact Investing Programme, Associate Director, Saïd Business School, University of Oxford
Madam Ping Wang, Chairperson, China Social Entrepreneur Foundation (AKA YouChange Foundation)
John Balbach, Programme Officer, MacArthur Foundation
Christine Looney, Senior Program Investment Officer, Ford Foundation
Ping, I think let’s start by talking a little bit about your journey when you think about stating several new organizations around 10 years ago and watching in China, how vast of wealth shifted towards neo-philanthropy and nevertheless that what including you two foundations’ significant resources and significant time invested in entrepreneurship. What do you see in china and what does china offer to the world? In terms of its own thinking about created really interesting platform about innovation please tell us about that.
Madam Ping Wang：
Thank you Galye. I’m happy to join this panel discussion and share thedynamics in China.
I’d like to briefly introduce the organizations I’m standing for. Almost 10 years ago, together with several top tier business leaders and academic scholars, I established YouChange China Social Entrepreneur Foundation, short as YouChange Foundation.
From then on, YouChange Foundation spent around 40 million US dollars tobuild the eco-system for social innovation in 3 aspects.
1st advocacy of social innovation and social enterprises,we translate books, host seminars, and provide trainings. One of the main achievements, is the publication of China Social Impact Investment Report 2016, collaborated with the top government think-tank - China Development Research Foundation. It is the first in China to offer a systematic description of the characteristics and conditions of Social impact investment in China.
2nd Social Angel Investment
We identified social change makers from startup Social Enterprises and NGOs, provided grants and other types of support to more than 170 founders ofthese organizations, many of them got followed up funding and grew into social impact players in the field.
We incubated 16 social innovation programs in 9 years, through 3 steps:
Find the right partners
Set up goals and strategies together with them
provide seed funding, other resources, and long time accompany
Finally, those long term partners of YouChange became the key junctions of value chain.
The most significant incubation of YouChange foundation is the establishment of China Alliance of Social Value Investment, short as CASVI. In order to mobilize more market forces to engage in social change, together with around 50 leaders from investment, finance, business, academics and NGOs, we build up this inclusive, cross-sectors platforms with multiple players from grassroots to national institutions，to bridge the demand side and supply side.
CASVI is the 1st licensed NGO specializing in social impact investment promotion in China. Also,it’s born with an international structure. Wayne Silby from Calvert Foundation, David Galipeau from United Nations Social Impact Fund( UNSIF) are sitting in CASVI board. And more international experts in CASVI strategic committee.
Well, then what do we do with CASVI? Long in short, 3 parts:
1st capital: to call for “Social Value Fund Pool”.
On one hand, we encourage mainstream VC and PE funds to sign up Honor Code called “No-Evil”, to agree on negative list in investment practice, like UN PRI; On the other hand, we help social impact fund in China such as Tsing Capital to build up “social value umbrella funds”，like fund of funds, through model-design, LPs-referrals etc. For this part, we are happy to work together with global foundation, impact funds and other financial institutions, to make a difference in China.
2nd pipeline: to build up “Social Value Projects Pool”
We collaborate with national and local business association to organizeroad shows, events and contest in Beijing, Shanghai and Shenzhen cross China, connecting social enterprises and social innovation companies with potential investors and policy-makers.For this part, we appreciate to collaborate with international foundations and intermediary organizations.
3rd Evaluation: todevelop “Measurement Tool” inquantitative approach
We initiate 3A on-line platform to evaluate the company’s impact value. 3A stands for Aim-Approach-Action. In such tool, we score business or investment by analyzing its strategy, model, result and the most important the consistency of 3As. For this part, we are working closely with UN Social Impact Fund now, and we are also open to align with GIIN’s IRIS and B-corp, ect.
For more detailed information, you can talk to Angela, the secretary general of CASVI, and Ling Hui, the secretary general of YouChange Foundation.They are both here at the conference.
So, if you are thinking of a new emerging region for social impact investment, contact YouChange and CASVI. We will be your contact window and solid partner in China.
Q1：Now I want to talk about actually NGO being in China, ford foundation has office in China. The law goes into effect soon and that have some implications on civil society organizations in terms of ford foundations for example in China, Ping would you like to talk about that? What’s the tension might be in terms of relationships with western foundations or organizations?
Madam Ping Wang：
This year, China published “The Charity Law” and “Overseas NGOs’ Domestic Activities Management Law”.
You may know that in the past 10 years, a great number of social organizations were founded, now there are more than 300,000 social organizations and 5,000 foundations. On the contrary, the government is lack of experience, regulations and capacity to manage them.
According to this background, the people’s congress passesed the charity law and other regulations. It’s not just about International NGOs, but also domestic social organizations. In general, the supervision is stricter.
However, I think it is a progress, a good thing. This is an opportunity and enabling environment for legitimate and well organized NGOs to develop. Hence, we should wait and see the real impact of the law enforcement in the future.
Q2：So the idea in terms of transparency to share information how one builds partnership based on the outcomes, whether there are unattended consequences, positive outcomes for foreigners. Ping, are you sure your information you’ve got you platform online. You too suggest that the audience could access that?
Madam Ping Wang：
We can see clearly that philanthropy in terms of donation has increased significantly in China after years of economy growth, and more and more millionaires, billionaires, rich people prefer to donate to charity such as building a school in the poor area. But impact investment seems a new concept to them. Because donation is easier to understand and easier to do. Also, high profile donation will easily attract public attention.
The 1st generation of rich people in China still have the high expectation of financial return after years experience of high speed growth and wealth accumulation. As for the investors, regarding social impact investment, they may say “OK, I CAN invest, as long as it brings me the high financial return for sure”.
We are in the early stage. It is the period, we need to advocate more. I am working on it.
Q3：We have one question was foundations are fiddle around for a long time as impact investment increases to judge your increases we working on the big vision what will be involved for foundations to diminish in size or increase in the volatility of a total chaotic system that we work in. so in closing, you’ll be out of jobs soon or in fact it will accelerate giving the dynamic of the market.
Madam Ping Wang：
In China we have very special, unique time and space. Because we have a very strong efficient government. And I think government pay a lot of attention to social impact through state owned enterprise to invest in rural area and poor area also state owned policy event. We have soft loan and we also have PPP, the government and private companies together to build the infrastructure also government give a lot preferential policies to the private side, that’s the contradict of China. So in YouChange foundation we want to promote civil society and to promote private sector to participate in this process. I think our model design is “from donation to investment and from investment return to donation”. So this means the donation from foundation we’ll fill the gap of pre-angel, the gap of seed stage and nobody notice these startup companies and we will choose the social aimed company to give them donation and let them develop into mature.
I don’t know if I can predict exact what will do all foundations to work or find a way of that, but I can say that in fact we were very pragmatic in solving problems. About us, all directors saying that high impact investments are mainly in our firm that still true and we moving toward a good trajectory but there still really important role for those organizations willing to provide much more patient, flexible and tolerant capitals to fund us to survive.
You know my senses and what I am seeing in terms of transferred that more and more foundations are going to internally hold all their assets they could if they want to achieve efficient and clear governance. It is something we started to do and my senses that would be trying to continues and you know the less of the next five to ten years I see a continued important role for philanthropy that only in terms of advancing an impact voice and in this conversation. But there really need critical convener and supporters in all these industries to continue in every supporting effort in order to continue to work on this structure to support the market. So we see there are numbers of opportunities for philanthropy and those were the reasons. And the last picture is I think this area is blended finance come up varies times and I think foundations should be in the position to contribute and in those terms of transactions to fund NGOs and maybe this will de-risking and move on to next stage.