Businesses are increasingly expected to act responsibly and fulfil a number of environmental and social agendas. With the emergence of a more informed, transparent and connected world, public trust and confidence in business has become paramount. At the same time many business leaders are driven by a sense of greater purpose and are striving to identify social issues on which they can make a measurable and sustained impact. At NCAF, we are seeing a convergence of interests between business and society because of limited resources and the need to tackle critical, material issues. We also recognise that many businesses have a wider reach than any single government or public agency and are increasingly present in our lives. Most modern market economies work fairly when we attain the balance between an equitable society and commercial interests, at both a macro and community level. To achieve this, businesses are searching for an authentic alignment between their purpose, operations and responsible business practices.
Corporate philanthropy: integrating social purpose into business Many businesses have made significant strategic advances in sustainability. Corporate philanthropy plays a critical role in this, engaging stakeholders and directing resources to where most impact can be achieved. There is so much more to philanthropy than the act of giving. It allows businesses to demonstrate their values, engage their employees and communicate with the public about how they operate and the choices they make to ensure a sustainable future. Philanthropy paves the way for partnerships between businesses and civil society that are based on common goals and shared actions to deliver impact-driven outcomes. We recognise that more needs to be done to tackle social needs and that every part in society has a responsibility to act. For some businesses this can feel like new, uncharted territory as they engage with activity which might traditionally have been left to governments and civil society.