Venture philanthropy and social investment: could banks be doing more?

 

Alliance magazine

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Alliance magazine

Alliance magazine

Yes, says Leonora Buckland, author of a new report from the European Venture Philanthropy Association, Social Impact Strategies for Banks: Venture Philanthropy and Social Investment, launched today. ‘Banks could certainly do more – this report will hopefully catalyse greater activity in this space as a practical roadmap starts to emerge as to how a broader section of the banking sector can get involved.’

The report, written with the support of the London Business School, provides the first comprehensive guide as to how European banks are currently active in venture philanthropy, social investment and impact investment.

The main findings are that banks have the skills and resources to play a defining role in the future scaling of venture philanthropy and social investment, and that social investment increasingly offers banks a promising new investment opportunity. However, due to the substantial challenges and barriers to banks operating in this relatively immature sector, social investment initiatives have been largely fragmented and small-scale, with only €260 million committed to date by the European banks surveyed in the report.

The report includes in-depth case studies from a selected group of pioneers in a variety of European countries (Bank Degroof, Belgium; Banque de Luxembourg, Luxembourg; Deutsche Bank, UK; BBVA, Spain; BNP Paribas Wealth Management, France; JP Morgan Social Finance, UK; Erste Bank/Foundation, Austria; Triodos Bank, Holland; UBS Wealth Management, Switzerland).

To read the full press release, click here>

Tagged in: EVPA


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