The 2024 Charities Aid Foundation (CAF) Corporate Giving Report reveals a mixed outlook for corporates charitable giving and corporate responsibility strategies, with many companies reducing the amount they give to charity each year.
For FTSE100 companies, donations totalled £1.82 billion in 2023. Whilst this is an outstanding contribution to the charity sector, this is an 8.3% fall in donations, compared to the previous year. The industries with the most generous giving were healthcare, real estate, and consumer staples, with healthcare alone contributing 22.9% of all FTSE100 donations.
Excitingly, the report identifies strong opportunities for the charity sector. By aligning with corporate purposes, charities can highlight common ground with businesses. For instance, Tesco and Sainsbury’s (noted in the report for significant increases in giving) demonstrate the power of collaboration in amplifying impact.
Additionally, employee engagement remains pivotal for FTSE100 companies when choosing which charities to partner with. Last year, FTSE100 companies collectively volunteered 2.11 million hours in support of causes, including education and tackling hunger. With only 19% of companies planning to increase giving over the next year, charities need to continue fostering strategic partnerships and showcasing measurable outcomes, that resonate with companies’ business goals and employees.
By working together with corporates to inspire action and raise vital funds, we can bridge gaps in education, health, and opportunity, ensuring no child starts their day too hungry to learn.
