BNP Paribas has launched a first of its kind individual philanthropy index, which measures and reflects the commitment of individual philanthropists from Europe, Asia and the Middle East.
According to the index, which allows a total score of 100 for each jurisdiction, Europe (51.2) and Asia (50.3) are at a halfway mark in their progress toward total commitment to individual philanthropy, while the Middle East (33.2) is roughly a third of the way there.
The index takes into account four main criteria: current giving (30 per cent), projected giving (20 per cent), promotion (25 per cent), and innovation (25 per cent). If the sum of these components, a total index score of 100, were to be met, it would imply “extreme generosity, advocacy and effectiveness”.
“Philanthropy is a very important part of the relationship with our clients, but without being profit driven,” François Debiesse, senior advisor at BNP Paribas wealth management for philanthropy and microfinance, told journalists at a media briefing.
Conducted by Forbes Insights between January and March this year, the index is based on a survey of more than 300 high net worth individuals within the three regions with at least $5 million in assets under management.