Abstract
Rather than limiting themselves to acting as mere financial intermediaries of corporate philanthropic funds, corporate foundations (CFs) may contribute to the achievement of the Sustainable Development Goals (SDGs) as partnership brokers. Based on the literature on the SDGs, cross-sector partnerships, the influence of the private sector on the SDGs, and institutional philanthropic involvement in the SDGs, this paper shows how the unique characteristics of CFs and their position between the business sector and civil society make them ideal partnership brokers in cross-sector collaborations. Furthermore, this study examines how CFs approach the Agenda 2030 with respect to their activities and strategies. Following an explorative research approach, data were collected through an online survey among CF managers in Switzerland, Liechtenstein, and Germany. The findings suggest that, in order to contribute more effectively to the SDGs, CFs should make more and better use of their capacities in bridging institutional logics, pooling resources, and initiating partnerships between different sectors.
Highlights
To meet the Sustainable Development Goals (SDGs) by 2030, significant global investments of at least USD 90–100 trillion are needed over the 15 years [1]
Evaluations have found that charitable foundations manage over USD 1 trillion in assets globally, accounting for 0.5% of the total global assets under management [4], while on the other hand, estimates have indicated that the global assets of charitable foundations in 24 countries already exceed USD 1.5 trillion and that foundation expenditures account for USD 150 billion per year, with an average spend rate of 10%, which indicates the actual amount spent for charitable purposes in relation to the foundation’s assets [5]
This paper argues that the essential role of corporate foundations (CFs) in the 2030 Agenda is less that of a financial intermediary of corporate philanthropic funds but, rather, that of a partnership broker initiating cross-sector collaboration between the business sector and civil society
Summary
To meet the Sustainable Development Goals (SDGs) by 2030, significant global investments of at least USD 90–100 trillion are needed over the 15 years [1]. A financial gap of USD 2.5 trillion across ten sectors encompassing all 17 SDGs has been estimated [1]. Progress in investment has been seen in at least six of the ten SDG-relevant sectors, the overall growth remains far behind the requirements [2]. Charitable foundations are considered important partners to contribute to this gap. The impact of charitable foundations on the SDGs may be limited by both the foundation’s capability to steer funds directly to a cause within the 2030 Agenda for Sustainable Development and the comparatively low amount of such potential funds, which is subject to different estimates. Even if the funds from corporate philanthropy (CP) and corporate social responsibility (CSR) in the U.S, estimated at USD
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