Impact/mission investing is seen as the most promising approach to philanthropy by high-net-worth individuals in Asia, Europe, the Middle East, and the United States, a report from BNP Paribas Wealth Management and Forbes Insights finds.
Based on a survey of some four hundred individuals with at least $5 million in investable assets, the 2015 BNP Paribas Individual Philanthropy Index (32 pages, PDF) found that impact/mission investing (52 percent of all respondents), collaborative philanthropy (51 percent), and sharing of data, best practices, needs, and skills (51 percent) were perceived as the most promising trends in the philanthropic sector. The report also notes some differences by region, with collaborative philanthropy more valued in Asia (59 percent), knowledge sharing in Europe (64 percent), and efforts to address root causes of problems in the Middle East (61 percent).
The index ranked the four regions by the current and projected giving of high-net-worth individuals, their activities on behalf of a cause or charity, and their efforts to maximize the effectiveness of their giving through innovation. While the U.S. topped the list with a score of 55.7, up slightly from a score of 53.2 in last year's index, the scores for Europe and Asia rose significantly, from 46.3 to 55.5 (Europe) and from 42.4 to 49.5 (Asia).
The survey also found that high-net-worth-individuals in the four regions are using social media to promote their causes (42 percent) and to seek feedback about the organizations and initiatives they support (42 percent), as well as online platforms for fundraising (41 percent). The most commonly used platform to promote a cause was Facebook (83 percent), followed by Twitter (54 percent) and YouTube (47 percent).
"Technology brings multiple benefits. It brings transparency, efficiency and effectiveness in implementing the right process," Infosys co-founder and philanthropist K. Dinesh says in the report. "High-tech investing will ensure that innovations in terms of reach and newer business models can be implemented even in social sectors."