This City Philanthropy commisioned report estimates that London gives £5.6bn a year in cash to charities, representing 29% of all private giving in the UK. The research also reveals that US style funding networks are taking hold in London and could generate £20m in charitable funding a year and thousands of hours of pro bono support if just 1% of London employees became engaged in them.
The research reveals London’s workers believe they should use their business expertise to support charitable causes, with over four-fifths of network members in London wanting to use their skills and professional experience to make a difference, and three-quarters saying their involvement in giving has improved their own leadership and motivational skills.
The report calls on employers and companies to support the development of work-based networks as part of their Corporate Social Responsibility (CSR) and company giving programmes. It highlights the need for further investment in London’s giving networks in order to substantially increase donations of time and money, and recommends raising awareness of giving networks amongst trade bodies, schools and universities.