HOW IMPACT INVESTING IS CHANGING PHILANTHROPY Renata Cooper
eople are giving more – time, money, skills, ideas, their personal space and belongings. Philanthropy is most definitely on the rise. Mass consumerism, more wealth than ever, gender inequalities and an array of other reasons are driving more people towards social causes and helping the less fortunate.
able to write a cheque. It’s being able to touch somebody’s life.” The Humans of New York and global Ice Bucket Challenge for ALS are perfect examples of the new age of giving through connectivity, personal involvement and purposeful action. Platforms such as Facebook and crowd-funding have shrunk geographic boundaries and made the culture of giving less distant and more mainstream.
The nature of giving is also changing dramatically and institutions such as the University of California are wondering whether these changes will make this decade the new golden age of While traditional models such as foundations and trusts will continue philanthropy. to play a role in philanthropy, an increasing number of people are looking One of the biggest drivers of this at impactful investments to tackle the change – technology, has made root of problems. According to the philanthropy more personal by BNP Paribas Individual Philanthropy connecting givers with recipients and Index 2015, impact investing that enabling them to play active roles in gives businesses and individuals the the transformative process. As Oprah Winfrey said, “It’s not just about being opportunity to focus on positive social
Published on Oct 2, 2015