Corporate giving bounces back

Corporate giving bounces back

After a major dip in 2012, corporate giving has risen by 16% with over $237 million contributed to the community this year, according to the London Benchmarking Group (LBG).

Education and Youth were the largest beneficiaries with over $63 million in contributions from LBG members across Australia and New Zealand, according to the group’s Annual Review released today.

LBG is a global network of companies that apply LBG’s framework to measure their community investment. The Australia and New Zealand branch boasts the largest membership of over 50 companies including the likes of NAB, Wesfarmers, Coles, Optus, QANTAS, ANZ, Myer and Woodside Energy. Contributions comprise of cash, volunteered employee time, in-kind support and management costs.

LBG Corporate Community Investment Director Simon J Robinson said “This year’s increased investments can be in part attributed to the low benchmark set by a significant decrease in contributions in 2012. The total this year is still somewhat shy of the contributions of over $250 million that were made annually from 2009 to 2011.”

Globally, Australia and New Zealand’s contributions are significantly less than international counterparts, donating $420 per employee, compared to the global benchmark of $685.

Simon J Robinson attributes this to “a greater importance being placed on the value of community contributions in the predominantly European-based membership of the global group, where drivers to invest are thought to be more powerful and some companies are more advanced in their thinking.”

The report also demonstrates a growing trend towards investment in long-term community initiatives rather than one-off donations. 56% of all contributions were towards long-term projects, up from 53% in 2012 and 47% in 2011.

“This could indicate that companies in the region are increasingly connecting community programs to business strategy and realising the value in linking the two” said LBG chairperson and Woodside Energy’s Manager of Social Investment, Jo Ferrie. “This is particularly true for Woodside; we recognise the impact a strategic social investment program can have in creating mutual benefits for our business and our host communities. By investing for the long-term we can demonstrate a lasting commitment to the wider community” she said.

Over 1.7 million Australians benefited from LBG member contributions to over 4,500 community programs.

Full details of the annual report and comparative data spanning the past eight years can be found at http://www.2013review.lbg-australia.com. A full membership list can be found at http://www.lbg-australia.com/member/

ENDS

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