Since its foundation in 1995, GIFE has sought to contribute to the promotion of sustainable development in Brazil through strengthening the political and institutional underpinning of the social investment sector. This has largely meant ensuring that planned private voluntary donations are kept monitored to assure they serve the common good.
However, because of the significant growth and strengthening of the sector, and lack of clarity in Brazilian legislation, uncertainty has grown up around the definition and limits of what investing is. This uncertainty has led to a paradox where a foundation can be at the same time the recipient and the donor of resources for the same cause.
With the object of clarifying the position of such groups and clearly differentiating the investor from the recipient, GIFE has launched a series of actions to better define the terms of Brazilian philanthropy. Moreover, the problem is not confined to Brazil. ‘These actions could be important for all of Latin America, since we are dealing with a regional problem,’ says GIFE’s general secretary, Fernando Rossetti.
Besides undertaking research, GIFE has also programmed debates to be held during the seventh GIFE Annual Congress in São Paulo, from 26 to 30 March this year, which will seek to define a sector of relevant and legitimate social investment, formed by a group of sustainable investors.
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