Tuesday, 16 July 2024
New report reveals that global philanthropy is booming, yet most foundations still work in isolation
Philanthropy around the world is growing rapidly, but resources are highly concentrated in certain sectors and coordination between philanthropic foundations is limited. These are the key findings of the Global Philanthropy Report, a first-of-its kind study that was conducted by researchers at Harvard Kennedy School’s Hauser Institute with funding from UBS.
Developed over three years with inputs from twenty research teams across nineteen countries and Hong Kong, the report marks an important milestone in understanding the magnitude of global philanthropic investment and helping to create an evidence-based discussion on global philanthropy.
In recent years, philanthropy has witnessed a promising shift. Wealthy individuals, families, and corporations are looking to give more, to give more strategically, and to increase the impact of their social investments. A rapidly growing number of philanthropists are establishing foundations and institutions to focus, practise, and amplify these investments.
As the world is falling well short of raising the USD 5-7 trillion of annual investment needed to achieve the UN’s Sustainable Development Goals, UBS sees the report findings as a call for philanthropists to work together to scale their impact.
Understanding this need for collaboration, UBS has established a global community where philanthropists can work together to drive sustainable impact. Established in 2015 and with over 400 members, the Global Philanthropists Community hosted by UBS is the world’s largest private network exclusively for philanthropists and social investors, facilitating collaboration and sharing of best practices.
Josef Stadler, Head Ultra High Net Worth Wealth, UBS Global Management:
“At UBS, we work with preeminent philanthropists daily. They are the risk takers and the innovators who are challenging the status quo of traditional development aid. We’ve spent over a decade partnering with our clients to help them create sustainable impact through their philanthropy.
This report takes a much-needed step towards understanding global philanthropy so that, collectively, we might shape a more strategic and collaborative future, with philanthropists leading the way towards solving the great challenges of our time.”
Paula D. Johnson, Senior Research Fellow, Harvard Kennedy School:
“This report is a milestone in our understanding of philanthropy around the world. Thanks to the collaboration of an extraordinary group of global researchers, we are beginning to appreciate the magnitude and vitality of the global foundation sector.”
Re-disseminated by The Asian Banker
