Philanthropy

Mike Scott explores the booming world of microfinance and discovers the impact this branch of philanthropy can have

Microfinance is the new buzzword in banking circles. It involves lending small amounts of money to some of the world's poorest people, who often have no collateral and no credit history. And servicing the needs of those "at the bottom of the pyramid" is an area where there is a significant role for individual investors lucky enough to find themselves at the top of the pyramid.

The next issue of Families in Business will feature a special report on philanthropy and we would like you to be a part of it. Specifically, we will be focusing on the principal challenges to giving – how easy is it to get good and relevant advice? Why and how do you support specific projects? How important is feedback and measuring the impact of your philanthropy? And what differences are there between generations in regard to philanthropic objectives?

The Rockefeller family has gained support in its cause to split the role of chairman and CEO at ExxonMobil. Nineteen institutional investors – including some of ExxonMobil's largest shareowners – are voting next week to urge ExxonMobil to address climate change risks and opportunities and to separate the chairman and CEO positions.

Members of the Rockefeller family have hit out at oil giant ExxonMobile, expressing concern over the direction of the company. The Rockefellers, who are long-term continuous Exxon shareholders, have previously been content to sit on the sidelines.

However the family - descended from John D Rockefeller, the founder of Standard Oil - has now broken its silence. Family members are demanding Exxon increase its use of alternative fuels by investing more in cleaner technology and cutting greenhouse emissions at its plants.