Executive Summary
Corporate philanthropy is a multibillion-dollar global enterprise that reflects a growing sense that the business of business includes making the world a better place while thriving financially. How companies go about doing good differs by culture and tradition.
In many parts of the world, corporate giving is largely voluntary. In some Asian economies, governments promote corporate giving by enacting laws that range in application from official encouragement – typically aligned with national development priorities – to mandated spending.
Critics of corporate philanthropy maintain that business benefits society most effectively by creating jobs, offering products and services people want, paying taxes, and/or returning profits to shareholders, so they can reinvest in other productive enterprises. It is a view that has held sway for decades. But there is more to the story.
Today, most large corporations are committed to the idea that they operate with a broader mandate from society. Indeed, “corporate leaders are responding to a new consensus that corporations should be actively working to solve perennial societal problems,” concluded a 2024 report by the Milken Institute.1 And giving is one way for a corporation to live into this mandate.
Against this backdrop of a changing corporate giving landscape, we wanted to know more: Who is giving? How much? For what purposes? Just as importantly, what are key considerations corporations navigate to maximise the positive impact of their giving? And which models of giving are meeting businesses’ individual needs?
This report strives to answer these questions, beginning with separate lists of the 20 largest corporate givers globally and in Asia. From our research and interviews, we identified a common set of considerations these corporate givers navigate, such as maximising impact while navigating risks, and balancing long-term outcomes with short-term expectations.
We also identified three approaches that frame how corporations give:
- Giving to a community or region (place-based)
- Giving that takes advantage of distinct corporate capabilities
- Giving that complements the business
With each approach, we describe how Asian and non-Asian corporations give in a way that responds to their own unique circumstances.
Done well, corporate giving isn’t just an exercise in altruism. It can be a lever for competitive advantage, one that carries the power to build trust, create value, and shape societal and environmental outcomes.
As corporate giving moves into the mainstream, questions around how to do it well become paramount. We offer a checklist to prompt reflection on how to proceed. As the report makes clear, there is no one-size-fits-all way to proceed. Decision makers have tough choices to make and multiple approaches to consider. But generous intent can lead to meaningful results for individuals and their communities while enhancing a business’s long-term viability.
The 20 Largest Corporate Givers Globally and in Asia
