WE ARE GUERNSEY's latest research paper, 'Effective Philanthropy: Trends and structures in global giving', draws on research by Philanthropy Impact, Guernsey Finance and Family Capital. Its aim is to examine the range of structures and vehicles on offer to assist HNWs and their families to solve the issues that they care about.
Launched in May 2022 to a select group of philanthropy professionals, the event included a panel discussion comprised of key players in the global philanthropy sector. Here are some key takeaways from the session:
- Global finance centres play an integral role in enabling global philanthropic capital flows: While there remains much to be done to win the fight against climate change, Guernsey is ahead of the curve. Guernsey has demonstrated its position as a force for global good, demonstrating leadership in the sector through the development of new and innovative solutions. Moreover, it would not be possible without the HNWs, and their willingness to channel capital into solving these issues, including biodiversity.
- It is important to be transparent in achieving and
maintaining good governance: Findings suggest that
this is not contained to charitable or philanthropic endeavours
– improving good governance within a family's personal
private wealth vehicle is just as important as for any third-party
charitable organisation that the family might partner with.
- Impact and involvement among the philanthropists of today has become paramount: Modern philanthropists are more eager than ever to be involved within the process of conducting philanthropy.
- It's not just about the hardware (structures and vehicles) but also the software: In Guernsey there are trustees, lawyers, and professional advisors, but also a growing sense of specific skilled professional advisors related to philanthropy and impact investing. It has the whole ecosystem, all in one place.?
- Guernsey has a breadth and depth of structures and vehicles to facilitate philanthropy: From the Guernsey Foundation – highly popular among Middle Eastern families as a civil law concept – through to Guernsey innovations, including the Protected and Incorporated Cell Company structures and the recently revised Guernsey Private Investment Fund (PIF) regime, the range is truly diverse.
For more information about Guernsey's finance industry please visit www.weareguernsey.com.
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