PRIVATE PHILANTHROPY
Private philanthropy to expand at 10–15% annually in next five years: Neera Nundy, Partner, Dasra
Private philanthropy is expected to see a significant expansion with family philanthropy seeing a shift towards building a strong ecosystem.
Cipla promoters sell 2.53% stake for Rs 2,751 crore
"Post transaction, the entire promoter group, including persons acting in concert, continues to hold 31.67% in the company and remains committed to the future of Cipla," the company said in a statement.
Cipla promoters sell 2.53% stake for around Rs 2,600 crore
Promoters of Cipla, including Person Acting in Concert, sold 2.04 crore shares in a block deal worth around Rs 2,600 crore to create liquidity for specific needs, including philanthropy. After the stake sale, the entire promoter group holds 31.67% in Cipla, expressing commitment to the company's future.
Private philanthropy grew 10% in FY23, CSR spending by 7%: Bain & Company and Dasra report
While there has been an increase in the number of companies complying with the CSR mandate in this period, spending by this segment grew moderately at 7%, less than half the 15% expansion seen in family philanthropy and 12% in retail giving.
Hooking CSR to a cause of choice
The CSR law is designed to serve the larger good - broadly UN's millennium development goals - through self-interest. It is a softer touch than outright taxation to meet social needs, and corporations are free to view their responsibility through the prism of business.
Why a globe-trotting Taylor Swift is increasingly coming under scrutiny
Taylor Swift's private jet travel has sparked scrutiny over the carbon dioxide emissions it produces. If she attends the Super Bowl from Tokyo, her travel on a Dassault Falcon 900LX could release over 200,000 pounds of carbon dioxide, equivalent to 14 times the average American household emissions in a year.
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Explained: How fundraising works on Social Social Stock Exchange
Investing through SSE is different from direct donations. It offers a structured way to support social causes, with added benefits like transparency, legitimacy and potential tax benefits, not usually available with direct donations. Further, investing in stocks or bonds of social enterprises also provides a financial return potential.
It's still a man's world when it comes to healthcare leadership, salaries
Despite a significant presence of female workers in entry level roles, the report showed a significant under-representation of women in leadership roles, especially at the executive and board levels, across healthcare sub-sectors. Most women are focused on the frontline in low-paying jobs and women across the healthcare workforce, on average, earn 34% less than their male counterparts.
ACT for Health collaborates with Global Health Labs to bring private innovations to India’s public healthcare system
“Our collaboration with GH Labs will focus on bringing innovative health-tech solutions to the last mile, where they have the highest potential for impacting the underserved. The goal is to make a meaningful impact on the public healthcare system, in a way that bridges the accessibility to affordability gap on quality healthcare for Bharat," Krishna Mathur, director-ACT For Health, said in a press note.
In philanthropy, we can afford to fail to get the right result for climate solutions: IKEA Foundation’s Per Heggenes
The CEO of IKEA Foundation believes India can harness its solar power best for bringing cost-effective and sustainable solutions to the hinterlands.
View: Philanthropy is welcome, but impact investing would benefit society much more
In many cases, philanthropy might be most appropriate, but in some cases, the same goal could be achieved by an income-generating investment, the returns from which could be ploughed back into the investible corpus to increase the funds available for generating the desired impact.
Bill Gates: Interesting Facts About The Microsoft Co-founder
Bill Gates, the co-founder of Microsoft and one of the world's most renowned tech pioneers, has left an indelible mark on the global tech landscape. While many are familiar with his role in the rise of personal computing, there are intriguing aspects of his life and career that are not as widely known.
Wealthy have a social responsibility amid rising inequality: Rohini Nilekani
If wealth remains concentrated in the hands of a few, the government may have reason to look to other means such as higher taxation to distribute wealth more fairly, Nilekani said.
Biden World Bank pick Ajay Banga urges private lenders to step up
The World Bank needs to leverage its current balance sheet and maximise existing resources, but the total resources of development banks are in the billions of dollars, short of what's needed to boost prosperity and deal with rising challenges, said Ajay Banga, a former Mastercard Inc. chief whom Biden nominated last month.
India’s richest gave less to social sector in FY22 despite rise in wealth: Report
Overall, India’s social sector spending as a share of GDP grew a percentage point to 9.6% in FY 2022, driven by a jump in public spending. Total spending on the social sector amounted to Rs 22.6 lakh crore in FY 2022.
Where are super rich investing? 10-15% portfolio getting allocated towards private deals: Anuj Kapoor
Service delivery based on transparency, cost efficiency, cutting-edge technology, and value adds like global opportunities, estate planning, business advisory, art, philanthropy and social impact investing has become the need of the hour.
Bengaluru to soon be hub of innovative, new museums, backed by philanthropy
Bengaluru is witnessing something of a renaissance of museums, which have different themes but are unified in the scope of ambition, the use of technology and other innovations to engage visitors, and the backing of corporate and individual philanthropy.
Gautam Adani among 3 Indian billionaires on Forbes Asia Heroes of Philanthropy list
Adani's Rs 60,000 cr pledge when he turned 60 in June this year makes him one of India's most generous philanthropists, the press release said. The money will address healthcare, education, and skill development and will be channelled through the family's Adani Foundation, which was founded in 1996.
View: India’s wealthiest need to give more, and more often
Despite economic uncertainty and the continuing impact of Covid-19, Indian philanthropy is growing steadily as evidenced,. Social sector funding, primarily driven by the government, has grown approximately 12% annually over the past five years.
Technocrats are guided by the motto 'in science, we invest'
A distinguished cohort of techno-billionaires is pushing the boundaries of science with long-term bets on seemingly unattainable targets.
MacKenzie Scott's leap into philanthropy began 3 yrs ago & has already exceeded $12 bn in grants. This is how she did it
A privileged child, she left a Connecticut boarding school after her family declared bankruptcy.
Total private philanthropic giving in India estimated to grow at about 12% annually
The Covid-19 pandemic has pushed more than 200 million Indians into poverty. With state finances negatively affected because of the pandemic and government debt increasing, the report elaborates on the importance of the full potential of private philanthropy to play a crucial role in bridging the gap.
Billionaire Jared Isaacman joins the philanthropy club, donates $125 mn to a children's hospital
He turned a payments-processing firm he started as a teen into a multibillion-dollar company.
Azim Premji remains top philanthropist with Rs 27 cr donation daily, Shiv Nadar & Mukesh Ambani follow
Premji increased his donation by nearly a fourth during the pandemic year.
Azim Premji donated Rs 27 cr per day in FY21, retains top giver rank
Premji, the founder chairman of the company, increased his donation by nearly a fourth during the pandemic year, as per the Edelgive Hurun India Philanthropy List 2021, which had HCL's Shiv Nadar at second place with contributions of Rs 1,263 crore towards upliftment causes.
Omidyar Network India commits $2 million to The/Nudge Foundation
The core grant from Omidyar Network India will support The/Nudge Foundation's efforts to catalyse large-scale social transformation.
Ashok Soota’s SKAN Research Trust gives Rs 20-crore grant to IIT Roorkee
IIT Roorkee will use the grant for funding of an Institute Chair Professorship, two new faculty Fellowships and one Institute Research Fellowship.
How creative approaches can help business philanthropy achieve sustainable social change
An ideal way forward here is for private philanthropic organisations to focus on capacity building efforts with small NGOs to bring them up to scale.
Pandemic didn't alter altruistic behaviour in Indians: Family philanthropy continued to flourish in 2020
Despite this growth in funding, the social sector remains underserved.
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