The US ranks top for amount of money donated or pledged closely followed by Europe, according to the BNP Paribas 2016 Individual Philanthropy Index.
However, it is the Middle East that has been making the fastest strides according to the report, which also shows Europe comes top for innovation, with its philanthropists willing to explore new approaches.
The Individual Philanthropy Index measures and reflects the commitment of philanthropists in four regions – Europe, Asia, the Middle East and the United States. The Index is derived from a survey of 457 high net worth individuals in the four regions, each with investable assets valued at $5 million or more, and was conducted by Forbes Insights in 2015, between October and December.
It finds the top cause for philanthropists is ‘health’ with the exception of Asia where ‘Environment’ is most popular. The philanthropist profile shows ‘collaboration’ and ‘creating lasting change’ as top trends.
It shows 54% want to work with other organisations or individual philanthropists (53%). Achieving a sustainable outcome is one of the top motivations of philanthropists (41%). The main outcome they seek to achieve is a sustainable programme that provides ongoing assistance (70%). That is followed by eradicating the problem completely (68%) or creating self-sustaining programmes such as teaching skills, and entrepreneurship (45%).
‘Impact Investing’ (54%) and ‘Collaborative Philanthropy’ (53%) are considered as the top trends in achieving sustainable outcome.
Nathalie Sauvanet, Global Head of Individual Philanthropy at BNP Paribas Wealth Management, says: “For half of respondents, philanthropy is integrated in their lives, as they have their investments, business activities and lifestyle aligned with their philanthropic goals.”
The report also reveals that advisors are necessary to achieve sustainable results, according to 61% of philanthropists.
2016 is the fourth edition of the BNP Paribas Individual Philanthropy Index.
Download a copy of the Index in full for free here.
Download the infographic here.