BNP Paribas has launched a first of its kind individual philanthropy index, which measures and reflects the commitment of individual philanthropists from Europe, Asia and the Middle East.

According to the index, which allows a total score of 100 for each jurisdiction, Europe (51.2) and Asia (50.3) are at a halfway mark in their progress toward total commitment to individual philanthropy, while the Middle East (33.2) is roughly a third of the way there.

The index takes into account four main criteria: current giving (30 per cent), projected giving (20 per cent), promotion (25 per cent), and innovation (25 per cent). If the sum of these components, a total index score of 100, were to be met, it would imply “extreme generosity, advocacy and effectiveness”.

“Philanthropy is a very important part of the relationship with our clients, but without being profit driven,” François Debiesse, senior advisor at BNP Paribas wealth management for philanthropy and microfinance, told journalists at a media briefing.

Conducted by Forbes Insights between January and March this year, the index is based on a survey of more than 300 high net worth individuals within the three regions with at least $5 million in assets under management.

Motivation to give

Motivations for giving vary vastly by region, and they are embedded in regional cultures and histories, according to the BNP Paribas individual philanthropy index. In Europe, it is split equally between family legacy, altruistic desire and a sense of duty (17 per cent each). In Asia, the desire to give back to society (25 per cent) is the top priority, while in the Middle East, religious faith is the top motivation (63 per cent).

Giving

The index shows that the largest number of respondents give somewhere between 5 per cent and 15 per cent of their annual income to charity every year.

Europe (24 per cent) currently gives between 15 per cent and 19.9 per cent of annual income to charity, while Asia (30 per cent) gives between 10 per cent and 15 per cent of annual income to charity. In the Middle East 38 per cent gives less than 5 per cent of their annual income to charity.

Overall, a third of all survey respondents said that they give 15 per cent or more of their annual income to charity and 17 per cent intend to leave 30 per cent or more of their fortune to charity.

Promoting the cause

In the way of promotion, the majority (77 per cent) of respondents said that they insist on remaining anonymous or do not actively publicise their charity. While in Europe (38 per cent) and Asia (45 per cent) choose to remain anonymous, the Middle East's (60 per cent) anonymity level could reflect the lower total index scores within the region, as clients tend to be discreet about revealing to whom and what they give.

Top causes

The decision of cause is usually a personal one in the world of charity and giving, so as expected, the index reveals differences by region. While Europe (63 per cent) and Asia (75 per cent) place health as the top cause, the Middle East (65 per cent) views social change as its priority.

Currently, the top philanthropic causes worldwide, depending on the region, are health and achieving social change.

In other findings, the BNP Paribas index revealed that philanthropists under the age of 30 are much more likely to be motivated by personal experience when choosing an area of focus (20 per cent). According to the index, under 30s are much less likely to be motivated by religion (17.5 per cent), and are much more generous, with 17.5 per cent giving at least 25 per cent of annual income to charity. Philanthropists within this age group are also likely to actively promote philanthropy (45 per cent), and 82.5 per cent do so on social media platforms.