Corporate giving responsibilities have transformed how businesses engage with its stakeholders. Through well-structured, comprehensive and tactical programs, companies have found new ways to increase shareholder value by launching company-wide corporate citizenship initiatives. A new report, Giving in Numbers, by the Conference Board, an independent global think tank and the Committee Encouraging Corporate Philanthropy (CECP), a coalition of CEOs that support societal investments, revealed that corporate giving is on the rise but companies still need to work on expanding their international philanthropic efforts.
The report said that in 2014, U.S.-based companies in Latin America, for example, allocated four percent of total giving in this region. Meanwhile, in Asia, only seven percent of a company’s total giving went to locals and other recipients in the continent.
Corporate giving officers have been tasked with going beyond their traditional role of encouraging check-writing activities. Today, these officers “reside in a variety of departments” and may carry different titles, the report said. The C-Suite, however, continues to push corporate citizenship leaders to revise existing global programs to promote activities in more geographic locations.
Overall, between 2012 and 2014, the notion of giving back has changed. About 56 percent of companies reported an increase in total giving while 36 percent cited a decrease due to declining business performance. In the corporate world, even during downsizing, giving back to communities remain “resilient” and supports corporate employee engagement goals, the report highlighted.
Emerging indices suggest that more injection of resources in sustainability assets and commitment to a culture of good governance and building trust represent the best performing companies of today and tomorrow. Hear from a panel of leading experts at Ethisphere’s 8th Annual Global Ethics Summit, March 9-10, NYC, about the changing landscape of corporate philanthropy. Register here.
