On the occasion of the European Day of Donors and Foundations, Philea and Impact Europe publish recommendations for national and EU policymakers to enable more impact investments and collaboration opportunities.
Multiple actors are needed to effectively address complex societal challenges. This means making the most of private, public and philanthropic resources. When undertaken in collaboration with public and philanthropic actors, impact investing approaches can lead to lasting social and environmental benefits through co-investing and blended finance approaches.
The economic contribution of philanthropy is significant. There are more than 186,000 philanthropic organisations in Europe with an accumulated annual giving of €54.5 billion. The combined assets of European public-benefit foundations is over €647 billion.
Building on the Philanthropy Manifesto and Impact Manifesto, Philea and Impact Europe launch the recommendations in the European Parliament, and call on policymakers to help bolster this effort by:
1. Enabling impact investing at the programme level
2. Developing a co-investment facility under the InvestEU financial programme
3. Facilitating impact investing and mission related investments at the endowment level
4. Integrating philanthropy from the start in the next Multi-Annual Financial Framework