The Committee Encouraging Corporate Philanthropy (CECP) recently released The Global Guide to What Counts: A Defining Moment for Corporate Giving, which will enable a major shift away from corporations’ reliance on various country tax codes to determine what counts as a contribution that benefits society—a reliance that has complicated the practice of tracking international giving. The Global Guide provides corporations with a much needed tool to allow more efficient measurement of corporate giving on a global scale.
CECP, with pro bono assistance from Deloitte, created a Global Corporate Giving Initiative to review giving standards in 17 countries—those with the greatest concentrations of headquarters of the largest companies in the world--and establish a single, precise characterization of the types of organizations that can be counted within corporate contributions programs. The results of the Global Corporate Giving Initiative, contained in the Global Guide, summarize eligible organizations in a markedly more user-friendly and inclusive way to be: 1) formally organized; 2) existing for charitable purpose; and 3) never distributing profits. Findings also provide specific details on all three criteria including the activities and purposes of eligible organizations.
“The Global Guide is vital as it will allow companies in the Global 2000—the world’s biggest companies--to better measure and think more strategically about the societal engagement work they are doing all over the world,” stated Charles Moore, Executive Director, CECP. “We seek to unlock the potential of corporations to further engage with the global communities that benefit from their talent and resources by establishing a single, accessible standard.”