Is it too much to give 1%?
So the good news is that in our survey of 100 of the world’s largest companies we found evidence that nearly all of them had community giving programmes of one sort or another.
This said we could only find totally transparent quantifiable information – that is the exact amount they gave for 39% of them.
The companies that had info available had a combined annual profits of 202bn which for context is about the same as the gross domestic product of Portugal.
They gave away on average 0.44% of profits.
If they collectively managed to increase this to 1% it would release another 1.2bn
We liked the approach of Costco USA who budget for 1% of profits annually and are super transparent about where this money goes.
Again for context 1.2bn is around the annual budget of Medicines Sans Frontiers or enough keep the WWF going for more than 3 years.
As ever it’s not our place to judge what’s reasonable for corporates to give away our role is to provide consumers with the information and let them decide. As ever we’d love to know what you think ?
In our forthcoming app you’ll be able to access this kind of info about companies as you think about weather or not you want to buy from them. We will be sure to let them know what you decided.
Let us know what you think!
To gain access to information about hundreds of companies, check out our prototype at: app.circlesquared.com