BUILDING LASTING CHANGE: ONE OF THE TOP MOTIVATIONS OF PHILANTHROPISTS
2016 is the fourth edition of the BNP Paribas Individual Philanthropy Index. It measures and reflects the commitment of philanthropists in four regions – Europe, Asia, the Middle East and the United States.
The 2016 Index results:
The United States still ranks #1 and Europe is a close second.
Giving scores:the United States remains a dominant leader in terms of amounts given or pledged to philanthropy but the Middle East has been making the fastest strides
Promotion scores: Europe and Asia take the lead. Europe maintains its number one position with a robust philanthropic sector.
Innovation scores: in Europe, philanthropists are willing to explore new approaches and innovate the most
The 2016 philanthropist’s profile:
“Health” is his top cause, with the exception of Asia choosing “Environment”. Philanthropist is very keen on working with others, whether it is with other philanthropic organisations (54%) or individual philanthropists (53%). From 13% in the Middle East to 26% in Europe, 28% in Asia and 38% in The United States, he plans to leave at least 1/3 of his fortune to charity.
The 2016 Theme “Creating Lasting Change”:
Achieving a sustainable outcome is one of the top motivations of Philanthropists (41%). The main outcome they seek to achieve is a sustainable program/initiative that provides ongoing assistance (70%). That is followed by eradicating the problem completely (68%) or create self-sustaining program such as teaching skills, entrepreneurship (45%).
Securing steady, ongoing funding (70%) is thus the most favoured method of financing. This is followed by creating a self-sustaining organization (57%), or a charity that can make a profit and keep it going.
Impact Investing (54%) and Collaborative Philanthropy (53%) are considered as the top trends in achieving sustainable outcome.
“We notice that the 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”, said 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”, said 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”.
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. 2016 is the fourth edition of the BNP Paribas Individual Philanthropy Index.
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BNP Paribas Wealth Management is a leading global private bank and #1 Private Bank in the Eurozone. Present in three hubs in Europe, Asia and the US, over 6,600 professionals provide a private investor clientele with solutions for optimising and managing their assets. The bank has €327 billion worth of assets under management (as at 31 December 2015).
Our philanthropic approach
In addition to our Individual Philanthropy Offering launched in 2008, which includes individual philanthropy advisory services, customisable giving tools (as the Philanthropy Fund) and ready-made giving solutions (the Fondation de l’Orangerie for Individual Philanthropy), Wealth Management has an important role in promoting philanthropy itself.
We are strongly committed to supporting initiatives that raise awareness and increase dialogue on philanthropy. Awareness raising initiatives: In order to showcase some of the remarkable initiatives carried out by philanthropists worldwide, in 2008 we created the BNP Paribas Prize for Individual philanthropy, awarded annually. Through a Strategic Partnership with the Chair of Philanthropy at ESSEC Business School, we contribute to the study, development and promotion of individual philanthropy and social investment.
About Forbes Insights
Forbes Insights is the strategic research and thought leadership practice of Forbes Media, publisher of Forbesmagazine and Forbes.com, whose combined media properties reach nearly 75 million business decision makers worldwide on a monthly basis. Taking advantage of a proprietary database of senior-level executives in the Forbes community, Forbes Insights conducts research on a host of topics of interest to C-level executives, senior marketing professionals, small business owners and those who aspire to positions of leadership, as well as providing deep insights into issues and trends surrounding wealth creation and wealth management.