How Companies Can Partner with Nonprofits

Fifteen years ago, if Goldman Sachs went looking for financial advice, a small, green nonprofit might be the last place it looked. Today, the firm and a host of other Wall St. giants don’t think twice about partnering with JUST Capital, a nonprofit that provides third-party data, tools, and insights to help measure and improve corporate performance on stakeholder and ESG issues.

The partnership is part of a growing trend in which for-profit firms are finding value in partnering with ESG-minded nonprofits they once may have shunned. And why not? The very best nonprofits have much to teach corporations. They have a purpose-driven focus that permeates their DNA — something corporations are increasingly seeking out for themselves.

Nonprofits also have constant dialogue and connection with their stakeholders, and effectively engage their boards. In contrast many corporations struggle in these areas. Only 20% of organizations believe they successfully communicate their strategy to a broad set of external stakeholders. And only 60% say that their boards understand their core technology and business model.

Unfortunately, many corporations don’t know where to start. What contact they have had with nonprofits has usually been through their corporate giving or Corporate Social Responsibility Programs — or even their PR department in cases where they are deflecting criticism from NGOs. Recently, we set out with the help of Giulia Siccardo, a partner at McKinsey & Company, to sketch out the areas of opportunity for corporations to partner with nonprofits.

To be absolutely clear, nonprofit partnerships are not a substitute for foundational change. To truly accelerate a corporate ESG journey, nonprofit partnerships need to go way beyond PR or branding. Corporations need to ensure their core businesses deliver holistic impact while they engage nonprofits on the issues and business lines where they aspire to develop and deepen influence.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BOJ to conduct annual survey on climate finance to nurture ESG marketBank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said on Sunday the central bank will conduct a survey annually of financial institutions and companies, seeking ways to nurture the country's growing climate finance market. Buy/Print/Repeat. More accurate headline: World Economic Forum continues plans for Great Reset, ensuring US citizens own nothing by 2030. The Greatest Depression scheduled to begin some time next year. 'Climate change' - another dirty lie.
Source: Reuters - 🏆 2. / 97 Read more »

Do not water down the importance of PA water companies | PennLive lettersI hope you’ll take the time to know the facts about Pennsylvania’s water industry, and remember that we are committed to exceptional service.
Source: PennLive - 🏆 463. / 53 Read more »

The leap second's time will be up in 2035—and tech companies are thrilledThe world’s metrologists just hope that someone will come up with a better solution for syncing human timekeeping with nature. Big deal. Where I work, almost all the computers display a different time! Its all relative. Time to make a drink and contemplate what I'll do in 2035.
Source: PopSci - 🏆 298. / 63 Read more »

Indian Crypto Companies' Response to the FTX CollapseSandeep Nailwal, CEO of Mumbai-based ETH scaling startup, was the first to stress self-custody before it became the buzzword.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Elon Musk personally called CEOs of companies that pulled Twitter adsElon Musk personally called CEOs of companies that stopped advertising on Twitter to complain, report says Sounds like a good leader. Winning business back. Calling his customers. You should change your handle to everythingelonmusk. You guys are pathetic. Rather than report news you are targeting a single individual. It is better you stick to 'why so expensive' and 'The making of'. That is what you are good at.
Source: BusinessInsider - 🏆 729. / 51 Read more »