The statement made by Ahmad Ashkar, founder and CEO of the Hult Prize Foundation, that "charity alone is not enough," is no longer as controversial as it was in 2009. Today, this idea has become mainstream, as organizations increasingly deploy capital to the world's poorest through sustainable businesses, instead of traditional altruistic charity.
Women are disproportionately affected by the impact of climate change. Cleaner cooking resources are kept at arms length for women as male head of households dominate purchase decisions. As if the back-breaking work to collect wood to keep the fire burning was not hard enough, women get sick from the soot emitted from these very fires they light every day.
While there are many companies in the entertainment industry that make considerable monetary donations to a variety charities, one company consistently takes philanthropy to another level entirely. United Talent Agency, with one of the most impressive talent rosters in the business, consistently raises the bar in terms of fostering a culture of generosity and giving back to the community.
In initiating the public examination of its flaws, and in working with an organization like Verite, Nestle has already gone a more honorable and transparent route than other companies have done. But while it has taken the first step towards being a more responsible company, Nestle's commitment to funding a long term strategy -- and how it pushes beyond the inevitable road blocks ahead -- will determine its ultimate footprint and legacy.
Kelly and I embarked on our first endeavor in early November, partnering with Musana Community Development Center in Iganga, Uganda. Our goal was to introduce new designs that utilize local resources and create products that would provide a greater profit margin that would, in turn, create more jobs locally.
Within portfolios, philanthropy can reward more entrepreneurial approaches to public-private partnerships, cutting-edge technology, cross-sector data and civic engagement. And it can leverage a modern toolkit, including social impact bonds and other innovative financing mechanisms, impact investing and outcome-focused partnerships with civil society, government and industry.