The raising of a new generation of philanthropists
25.04.2017 | Group
The 2017 BNP Paribas Philanthropy Report has just been published. Led by The Economist Intelligence, sponsored by BNP Paribas Wealth Management, the report Decodes the involvement of Generation Y in family foundations, and their vision, more focused on digital.
This work has been produced on the basis of interviews conducted between the end of 2016 and early 2017, with young philanthropists from around the world, and financial experts.
Great learning of this study, the definition of 5 major motivations in this new generation:
Belief in social entrepreneurship
A global approach
A desire for now
Online and willing to share
A collaborative culture
The uses of the new philanthropists mutate in depth. Considering that they do not necessarily have to be linked to the family inheritance, an increasing number of them aspires to lead their projects in an innovative way, using independent structures. Despite this, many of them rely on a family structure, which brings comfort and safety.
"Over the past few years, we’ve seen our clients increasingly seek positive impact on society," explained Sofia Merlo, Co-CEO of BNP Paribas Wealth Management. "Millennials especially are pushing the boundaries of traditional philanthropy with a stronger collaborative spirit and a greater use of Impact Investing or Social Entrepreneurship and co-funding opportunities.”.
We'VE seen our clients increasingly seek positive impact on society.
A search for efficiency
The digital tools also allow to better define the objectives and to follow almost in real time their accomplishment. Like the European Foundation Center's Data Mapping System, or IRIS metrics, measuring the social, environmental and financial performance of an investment.
"We want our financial resources to achieve the greatest possible impact", said Lavinia Jacobs, 36 years old, chair of the Jacobs Foundation.
This report helps to better understand, serve and promote philanthropists. BNP Paribas Wealth Management is well aware of the needs and aspirations of its clientele, having supported more than 800 of them since 2008 in their philanthropic activities around the world.
We want our financial resources to achieve the greatest possible impact.