BNP Paribas Wealth Management has announced the fourth edition of the BNP Paribas Individual Philanthropy Index, measuring the commitment of philanthropists across Europe, Asia, the Middle East and the United States.
The Index was based on a survey conducted in 2015 by Forbes Insights, examining 457 high net worth individuals in each of the four regions who alone have investable assets valued at $5 million or more. The 2016 results revealed that whilst the US still ranks #1, remaining a dominant leader in amounts given to philanthropy, Europe is a close second and alongside Asia has taken the lead in terms of promotion scores. In Europe, philanthropists were also found willing to explore new approaches and commit to innovation.
According to this year's Index, 'Health' is the top cause within the philanthropist's profile, with the exception being Asia where 'Environment' was selected. 54% showed themselves to keep to work with other philanthropic organisations, whilst 53% demonstrated interest in collaborating with individual philanthropists. 26% of those in Europe announced plans to leave at least 1/3 of their fortune to charity.
One of the top motivations, figuring among 41% of philanthropists, was achieving a sustainable outcome, with the primary one sought being to establish a sustainable programme or initiative which provides ongoing assistance (70%). 68% were interested in eradicating the problem completely, whilst 45% were looking to create a self-sustaining programme such as teaching skills, entrepreneurship.
As a result, 70% cited securing steady, ongoing funding as the most favoured method of financing, followed by creating a self-sustaining organisation (57%) or a charity that can make a profit and keep it going. Impact Investing and Collaborative Philanthropy were considered as the top trends in achieving sustainable outcome, at 54% and 53%, respectively.
“We notice that philanthropy is more and more professionalizing. For half of respondents, philanthropy is integrated in their lives, as they have their investments, business activities and lifestyle aligned with their philanthropic goals”, commented Nathalie Sauvanet, Global Head of Individual Philanthropy at BNP Paribas Wealth Management
“The report also reveals that advisors are necessary to achieve sustainable results, according to 61% of philanthropists”, added BNP Paribas Wealth Management Co-CEOs, Vincent Lecomte and Sofia Merlo. “The survey sheds light on their expectations and motivations and reinforces our determination to provide them more closely-targeted support”.
Photo from BNP Paribas Wealth Management
