For many philanthropists, the past 18 months have prompted them to reconsider how they can make a lasting impact. The economic damage wrought by the pandemic, urgent calls for meaningful social change and the acceleration of devastating climate events have sparked a new wave of philanthropy that is changing what charitable giving can really be.
Historically, philanthropy has typically been a singular activity carried out through individual, family or corporate contributions. Now, philanthropists are increasingly reconsidering how they wish to make a difference – and perhaps more importantly, how they can work, learn and donate together to accelerate and amplify outcomes.
Last week, we launched the UBS Collectives, a social impact initiative that brings together groups of philanthropic-minded clients on issues that matter the most to them. By connecting them to each other and to UBS’s unmatched global ecosystem for investing, we’re giving our clients the ability to exchange ideas, share strategies, mobilize private capital and support the most effective programs possible.
We’re kicking off this initiative with three Collectives focused on social financing, family-based care systems and strategic climate funding. And Collective members are wasting no time. They’ve already raised $20 million towards achieving catalytic and systemic change– a promising start to a set of formidable challenges around the world.
Of course, philanthropy is about more than a donation – it’s a journey of learning and a communion of past circumstances, present needs and future potential. Many philanthropists have the desire to fully understand the root causes of these challenges and to collaborate with like-minded donors, experts and practitioners to address them in faster and more innovative ways. That’s why UBS Collective members will be participating in a more hands-on and immersive approach to philanthropy, including a three-year strategy and leadership program that incorporates on-site visits to locations around the world to explore the tangible, real-life impacts of collective philanthropy.
At UBS, making connections is at the heart of what we do. We believe that shared passion and values can bring together philanthropists with common goals, and that those relationships will be one of the most influential factors determining the future of giving in the years to come. We’re envisioning a world in which philanthropists are also students and advocates for the causes that they care about. By working together as part of the UBS ecosystem, we can reimagine the power of people and capital to spur meaningful change and create a better world for all.
To learn more, check out the conversation on the power of collective philanthropy that we recently hosted during our first-ever global Digital Philanthropy Week.