Philanthropists Choose Health As Top Cause In 2016 – Global Index

Amisha Mehta Assistant Editor 7 April 2016

Philanthropists Choose Health As Top Cause In 2016 – Global Index

Health is the top cause for philanthropists this year, with the exception of those in Asia, according to the fourth edition of the BNP Paribas Individual Philanthropy Index.

Health is the top philanthropic area in the US, Europe and the Middle East, while the environment is the cause of choice in Asia, according to the 2016 BNP Paribas Individual Philanthropy Index.

Among philanthropists' top motivations is achieving a sustainable outcome (for 41 per cent). The main outcome they wish to achieve is a sustainable programme that provides ongoing assistance (70 per cent), followed by eradicating the problem completely (68 per cent) or creating self-sustaining programmes such as teaching skills and entrepreneurship (45 per cent).

Impact investing, which seeks to do social good while also making a profit, and collaborative philanthropy were found to be the top trends in achieving sustainable outcomes, at 54 per cent and 53 per cent of respondents, respectively. The findings echo a recent Spectrem Group survey, which found that 45 per cent of wealthy millennials want to use their money to help others and consider social responsibility a factor when making investment decisions. To read a recent feature on the rise of “impact entrepreneurs”, click here.

“We notice that the philanthropy is more and more professionalising. 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.

Overall, the index showed that the US – a region with a strong tradition in philanthropy – continues to lead the way, followed closely by Europe. In terms of actual amounts given or pledged, the US is once again on top but the Middle East has been making the fastest strides. As for innovation, European philanthropists are willing to explore new approaches and innovate the most.

From 13 per cent in the Middle East to 26 per cent in Europe, 28 per cent in Asia and 38 per cent in the US, many philanthropists plan to leave at least a third of their fortune to charity.

The index is derived from a survey, conducted by Forbes Insights, of 457 high net worth individuals across the US, Europe, Middle East and Asia, each with investable assets worth at least $5 million.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes