Viewpoint: Can Trust-Based Philanthropy Become the Mainstream?
By Elizabeth Ellis, Alix Lebec, Peter Yao
Companies worldwide are trying to differentiate themselves in the market, cut through the noise, and avoid becoming a casualty of the ‘Great Resignation’. A few important trends may help them remain relevant and innovative. Trust-based philanthropy has garnered traction alongside transformative corporate philanthropy models over the past decade. These are anchored around equitable, long-term partnerships aligned with a corporation’s purpose and significant resources rather than just a marketing campaign.
Patagonia and IKEA are two such examples. These philanthropic approaches seek to address the root causes of inequality and poverty and provide flexible and long-term funding that can also unlock other forms of financing, such as impact investment capital. Such approaches can help companies and their foundations meet their social impact goals and environmental, social, and governance (ESG) objectives.
Photo courtesy of Karolina Grabowska.
Source: Business Insider India (link opens in a new window)
- ESG, partnerships, philanthropy