ANNUAL REPORT CARNEGIE ENDOWMENT FOR INTERNATIONAL PEACE 2019 ANNUAL REPORT ANNUAL 1 2 ANNUAL REPORT ANNUAL Letter From the 2019 Chair In my first full year as Chair It is no surprise, therefore, of the Carnegie Endowment, I that Carnegie has attracted have had the privilege of working an extraordinary group of new with our leadership and our trustees from around the world, board to define a new vision with distinguished careers in the for our institution that meets highest levels of the private and the challenges of the new era public sectors. And it’s no surprise unfolding before us. Change in that Carnegie has received historic institutions is rarely as neat as levels of philanthropic support for imagined on paper; but I’ve its renewed mission. never seen an organization renew itself so comprehensively I am grateful that Steve Denning and put into practice our has volunteered to take over for collective vision so quickly. Mohamed El-Erian as vice chair of the board and to all my fellow The sense of purpose and trustees for everything they do urgency resonates throughout to keep the cause of peace our global network. Whether in alive in these trying times. my travels to Carnegie centers in Beijing and New Delhi, my reading of our sharp, relevant, Sincerely, and creative content, or my participation in its endlessly rich programming, I have seen firsthand Carnegie’s true Penny Pritzker commitment to quality, independence, and impact. CONTENTS 4 9 13 Board of Trustees Our Network Making an Impact 3 2019 ANNUAL REPORT ANNUAL Letter From the President As global winds continue to We are working to help the batter and bruise the international development of international landscape, Carnegie is determined norms and rules of the road catch to meet this moment with the up to the pace of technological energy, wisdom, and determination innovation—seeking to maximize that it demands. the promise of new technologies while minimizing their disruptions. With 140 scholars spread across twenty countries and six And we are building a mix of global centers, we provide sophisti- world-class economists and cated regionally based analyses of strategists, to help executives from the societal, economic, security, and situation rooms to board rooms political forces fueling competition rethink the critical intersection of and conflict, and bring our global economics and national security— network together to find pathways ensuring that our international to conflict mitigation and resolution. relations contribute to the renewal of our own societies. Together with governments and other organizations around Andrew Carnegie’s legacy and the globe, we are working to this perilous moment have inspired strengthen and sharpen the ways philanthropists for peace to rise in which outside actors can more to the challenge before us. I am effectively support civil societies deeply indebted to our board, our and democracies that are under funders, and our partners around unprecedented strain. In too many the world for their generosity and places, the compacts between support, and honored to lead this state and society are far too brittle, remarkable institution. and ideas on how to enliven them are far too stale. Sincerely, Bill Burns 29 34 36 Philanthropy for Peace Financial Statements Donors 4 Board of Trustees CHAIR VICE CHAIR ANNUAL REPORT ANNUAL Penny Pritzker Steven A. Denning Chair, PSP Capital Partners and Pritzker Realty Chairman, General Atlantic 2019 Group, Former Secretary of Commerce Ayman Asfari Walter B. Kielholz L. Rafael Reif Group Chief Executive, Petrofac Limited Chairman of the Board of Directors, President, Massachusetts Institute Swiss Re Ltd. of Technology C. K. Birla Chairman, CK Birla Group Scott D. Malkin George Siguler Chairman, Value Retail PLC Founding Partner and Managing Director, Elizabeth F. Bagley Siguler Guff and Company Former Special Representative for the U.S. Sunil Bharti Mittal Department of State, Chairman of SBI/Cellular One Founder and Chairman, Bharti Enterprises Ratan N. Tata Chairman, Tata Trusts Bill Bradley Adebayo Ogunlesi Managing Director, Allen & Company Chairman and Managing Partner, Global Aso O. Tavitian Infrastructure Partners Former CEO, Syncsort, Inc. David Burke Founder, Managing Director, Board of Directors, Ngozi Okonjo-Iweala Wang Chaoyong Makena Capital Management Chair, Gavi, the Vaccine Alliance Founding Chairman and CEO, ChinaEquity Group William J. Burns Kenneth E. Olivier President, Carnegie Endowment for Past Chairman and CEO, Dodge & Cox Funds Rohan S. Weerasinghe International Peace General Counsel, Citi Jonathan Oppenheimer Harvey V. Fineberg Director, Oppenheimer Generations Yichen Zhang President, Gordon and Betty Moore Foundation Chairman and CEO, Catherine James Paglia CITIC Capital Holdings Limited Anne Finucane Director, Enterprise Asset Management Vice Chairman, Bank of America Robert Zoellick Deven J. Parekh Senior Counselor, Brunswick Group Jane Hartley Managing Director, Insight Partners Former U.S. Ambassador to France and Monaco; Communications Executive Zeid Ra’ad Al Hussein Patricia House Former United Nations High Commissioner for Human Rights Vice Chairman of the Board, C3.ai Victoria Ransom Maha Ibrahim Former CEO, Wildfire and General Partner, Canaan Partners Director of Product, Google 5 2019 ANNUAL REPORT ANNUAL Why did you join the What global trend most concerns You are chair of a global Carnegie Board? you and what contribution do you business with fourteen offices think institutions like Carnegie can across five regions. How critical I was deeply impressed by the make to address it? has your global reach been to leadership of Bill Burns, the understanding and navigating strength of the Carnegie team, The most concerning trend in a changing business the caliber of the trustees, the my view is the denigration and environment? mission, and current strategic disruption of the liberal world order. direction of the institution. I have never seen a moment with We may be a large global growth so much dramatic, disruptive equity firm, but we are operating I also believed that Carnegie— change in so many aspects of locally in different political environ- with its commitment to a global, international affairs, from geopoli- ments, economic systems, and independent outlook—was tics to economics to governance. country cultures. Understanding uniquely positioned to not only I am concerned about the capacity that and making it a core part of revitalize the conversation, but to of our own country to adapt, as our business decisionmaking is generate powerful new ideas about well as the capacity of the overall essential to our success as a the challenges before us, whether international system to manage global firm. The question we that is adaptation necessary for the this transformative transition. should be asking now is not how artificial intelligence–driven digital to decouple ourselves from China, era, the rise of China, or the shift That is why I think Carnegie has but how do we coexist and find a of great power rivalries. such an important and distinctive positive-sum way to cooperate role to play—its global reach and and collaborate, with boundaries perspective can help illuminate and constraints, despite our very how these trends are changing different political and economic key countries and regions, and systems. Carnegie is one of the how best to mitigate the most few think tanks that is globally destabilizing aspects of this focused, has a truly global transition, and, most importantly, footprint, and is strategically how to capitalize upon the positioned to address global enormous opportunities issues from a variety of local ahead of us. perspectives. Globalization emanates from every region and country in the world, and reflect- ing this in our thinking and policy is essential to crafting a construc- tive and sustainable means of building the world order and improving the human condition. Q&A WITH NEW VICE CHAIR STEVE DENNING 6 ANNUAL REPORT ANNUAL Carnegie Welcomes 2019 New Trustees Anne Finucane is vice chairman at Ngozi Okonjo-Iweala served twice Bank of America and also serves as Nigeria’s finance minister and Carnegie’s Board of as chairman of the board of Bank briefly as foreign minister, the first of America Merrill Lynch Europe. woman to hold either position. She Trustees is global— As a member of the executive is now chair of the board of Gavi, composed of leading management team, Finucane is the Vaccine Alliance, and chair of responsible for the strategic African Risk Capacity. minds from the business, positioning of Bank of America and leads the company’s environ- political, academic, and mental, social, and governance philanthropic worlds. (ESG), capital deployment, and public policy efforts. C. K. Birla, a member of Carnegie Deven J. Parekh is a managing Zeid Ra’ad Al Hussein served as India’s Founders Committee, is director at Insight Partners, a the United Nations high commis- chairman of CK Birla Group, which New York City–based global sioner for human rights from 2014 operates in industries including venture capital and private equity to 2018—the first Asian, Muslim, infrastructure, automotive technol- firm investing in high-growth and Arab to hold the position. He ogy, healthcare, education, and technology and software compa- was twice Jordan’s permanent information technology. He is nies. He works with investments representative to the United chairman of the board of governors in the United States, Europe, Nations, once Jordan’s ambassa- of the Birla Institute of Technology, China, and Latin America. Parekh dor to the United States, and a Mesra, and a member of the was nominated in 2016 by then political officer for the United national council of the Confedera- president Barack Obama and Nations Protection Force in the tion of Indian Industry. confirmed by the U.S. Senate to former Yugoslavia. be on the Overseas Private Investment Corporation Board. 7 2019 TOP REPORT ANNUAL Former secretary of state Hillary Clinton (left) and Bill Burns (right) discuss the future of diplomacy.