BNP Paribas has launched an Individual Philanthropy Index which aims to measure and reflect the commitment of individual philanthropists from Europe, Asia and the Middle East, taking into account three main criteria: the amounts given, innovation, and the effort devoted by philanthropists to promote their causes.
The new BNP Paribas Individual Philanthropy Index is based on a survey of more than 300 High Net Worth Individuals, with at least US$5 million in assets under management, across Europe, Asia and the Middle East. The survey was conducted by Forbes Insights between January and March 2013.
According to the BNP Paribas Individual Philanthropy Index, commitment measurement of individual philanthropists reveals that Europe and Asia are at a halfway mark in their progress toward total commitment to individual philanthropy, while the Middle East is roughly a third of the way there.
The survey underlying the BNP Paribas Individual Philanthropy Index reveals that the largest number of respondents give somewhere between 5% and 15% of their annual income to charity every year.
Motivations for giving vary vastly by region, and they are embedded in regional cultures and histories, such as religious faith is the top motivation (63%) in the Middle East, whereas in Asia, it’s the desire to give back to society (25%). In Europe, it’s equally family legacy, altruistic desire and a sense of duty (17% each).
The survey also finds that most philanthropists do not actively promote their causes. Approximately 77% of survey respondents said that they either insist on remaining anonymous or do not actively publicise their charity. A net 17% intend to leave30% or more of their fortune to charity.
Though there are regional differences, health is the top charitable cause among all survey respondents (67%).