4 Reasons Why Philanthropy Is The Key To Sustainable Development
Sustainable development is defined by Oxford Languages as “economic development that is conducted without depletion of natural resources.”
When we consider the industries that drive our economy and what is needed to keep it afloat, sustainable development may appear to be a pipe dream.
However, this kind of thinking causes us to neglect the most important resources that we have.
Ourselves.
The human mind, our ability to learn, adapt and innovate is a superpower that we don’t use enough.
If we’re talking about sustainable development, we have to build each other up before we can think of maximizing our other resources.
Philanthropy is the ideal way to do it, and here’s why:
- Philanthropy focuses on long term solutions
Is the crime rate in your neighborhood high? How about the employment rate, are people getting jobs?
These two societal factors are inversely related. When one goes up, the other goes down — and philanthropic efforts are an effective way to keep job levels up and crime levels down.
Unlike its cousin, charity, philanthropy doesn’t give the homeless a meal and shelter.
It teaches them how to earn a meal and build their own houses. It’s not a quick fix but focuses on helping people become resilient.
This kind of work takes time and money — but the results are worth the investment!
2. Philanthropy is strategic and goal-oriented
A lot of expertise goes into creating programs that can change people’s lives.
Philanthropy utilizes a host of strategies and tools from economic, educational, and psychological experts to accomplish its goals.
Many philanthropic institutions reverse engineer the results to match the circumstances of the people it intends to help.
Isn’t that awesome?!
3. Philanthropy targets the root cause of neglected issues
Studies show that philanthropy provides solutions for people that are affected by neglected or tabu issues.
You may have seen those ads on TV for affected parts of Africa — but there are many other problems that aren’t highlighted on camera.
Philanthropy targets those at the root!
4. Philanthropy generates funding for causes that truly matter
Some of the richest people in the world are involved in philanthropy.
A study in 2017 shows that 72% of charitable funding comes from private individuals.
With heavyweights like Bill Gates, Warren Buffet, and Mike Bloomberg, we can see why this statistic is so high!
Some philanthropists own an NGO while others commit heavily to one — and funding is especially generous in cases where the wealthy grew up in the affected area.
One such philanthropist is Kwasi Asare. Kwasi cares deeply about improving the lives of the people in his Ghanian community.
His role in The Village Communities Development Center (VCDC) — an NGO — has helped many to attain higher education and better living conditions.
With this kind of money, philanthropy is an ideal way to initiate sustainable development projects!
Regardless of what route you take, service to others is noble. As long as you’re making a difference in the lives of those around you, you’re doing an awesome job! Keep it up!
