NEW YORK--(BUSINESS WIRE)--
Moody’s Corporation announced today that it was recognized at the 2010
Clinton Global Initiative (CGI) Annual Meeting for its commitment to
develop a quantitative, independent and globally consistent standard to
measure social performance in the microfinance industry.
Investors, philanthropic organizations and lenders echo the need for a
common, simplistic mechanism to determine the social impact of
microfinance institutions (MFIs). The creation of an independent and
globally consistent standard aims to more clearly differentiate the
organizations that are having the greatest social impact through their
efforts. As in other market sectors, this would add to the analytic
tools available to investors and others, driving a more informed
dialogue on MFIs.
“We anticipate that socially-driven microfinance institutions will
benefit significantly from this standardized approach to assessing
social performance,” said Jody Rasch, Senior Vice President, Moody’s
Investors Service. “It has the potential to drive greater awareness of
MFIs that have a positive impact on the lives of millions of people who
benefit from projects funded through microfinance lenders.”
Working with a consortium of partners, Moody’s is conducting a market
survey to assess current perceptions of the key factors influencing
social performance. A number of market participants, including nonprofit
and academic leaders, MFI practitioners and investors, will come
together during the Microfinance Impact & Innovation Conference, which
is being held on October 21-23, 2010 in New York, where Moody’s will
present some of the initial responses to the survey. Building on those
findings and insight from other market sectors, Moody’s will develop a
more robust methodology, which can be adopted globally, for assessing
the social performance of MFIs.
“Moody’s is proud to continue our participation in the Clinton Global
Initiative,” said Fran Laserson, President of The Moody’s Foundation.
“CGI has provided a platform to partner with other corporate, academic
and nonprofit leaders to contribute to the advancement of microfinance
as a sustainable solution to providing much-needed capital to local
communities and projects.”
ABOUT MOODY'S CORPORATION
Moody's is an essential component of the global capital markets,
providing credit ratings, research, tools and analysis that contribute
to transparent and integrated financial markets. Moody's Corporation
(NYSE: MCO) is the parent company of Moody's Investors Service, which
provides credit ratings and research covering debt instruments and
securities, and Moody's Analytics, which encompasses the growing array
of Moody's non-ratings businesses including risk management software for
financial institutions, quantitative credit analysis tools, economic
research and data services, data and analytical tools for the structured
finance market and training and other professional services. The
Corporation, which reported revenue of $1.8 billion in 2009, employs
approximately 4,100 people worldwide and maintains a presence in 26
countries. Further information is available at www.moodys.com.
ABOUT THE CLINTON GLOBAL INITIATIVE (CGI)
Established in 2005 by President Bill Clinton, the Clinton Global
Initiative (CGI) convenes global leaders to devise and implement
innovative solutions to some of the world’s most pressing challenges.
Since 2005, CGI Annual Meetings have brought together more than 125
current and former heads of state, 15 Nobel Peace Prize laureates,
hundreds of leading CEOs, heads of foundations, major philanthropists,
directors of the most effective nongovernmental organizations, and
prominent members of the media. The CGI community also includes CGI
University (CGI U), a forum to engage college students in global
citizenship, MyCommitment.org, an online portal where anybody can make a
Commitment to Action, and CGI Lead, which engages a select group of
young leaders from business, government, and civil society. For more
information, visit www.clintonglobalinitiative.org.
Source: Moody’s Corporation