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Women-led philanthropy will improve the act of giving
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Context
Philanthropy has a rich history in India, with corporate foundations playing a significant role. In recent years, women have emerged as influential leaders in philanthropy, contributing distinct perspectives and innovative approaches.
Distinctive Styles and Innovative Approaches in Women-led Philanthropy:
- Introduction to the Issue: Historically, Indian companies have engaged in philanthropy, often through corporate foundations led by women spouses of business leaders. Today, women in India and globally are leading philanthropic efforts independently with innovative methods.
- Case Study of Melinda French: Post-divorce from Bill Gates, Melinda French announced her disengagement from the Bill and Melinda Gates Foundation to focus on her nonprofit, Pivotal Philanthropies Foundation, with $12.5 billion for gender development and other causes.
- MacKenzie Scott's Approach: After her divorce from Jeff Bezos, MacKenzie Scott revolutionized philanthropy by distributing $16.6 billion to over 2,000 NGOs with a 'no strings attached' policy, allowing recipients full control over the funds.
Impact of Women-led Philanthropy on Social Development:
- Rohini Nilekani's Contributions: Rohini Nilekani, leveraging wealth from Infosys, has significantly impacted philanthropy in India, being named "most generous woman" for three consecutive years by the Hurun India Philanthropy Report. Her focus on early critical areas like the environment and climate change has been pioneering.
- Role of Rajashree Birla: Rajashree Birla led the Aditya Birla Group’s CSR initiatives after her husband's death, showcasing the impact of women-led CSR efforts in India.
- Data Supporting Women-led Philanthropy: Studies from GivingPi and Bain & Company-Dasra indicate women’s higher involvement in philanthropy, greater accountability, and a clearer focus on complex societal challenges. Women tend to give a higher proportion of their net worth compared to men.
Factors Driving Women-led Philanthropy:
- Ownership and Influence: The shift towards professional-led companies and startups has resulted in significant equity shares held by women, enabling independent philanthropic activities. Role models like Rohini Nilekani and Rajashree Birla inspire this trend.
- Government and Industry Support: Government policies and industry associations like CII and FICCI support CSR activities, often led by women, enhancing philanthropic efforts.
- Financial Independence and Passion for Giving: Greater financial means and freedom allow women to leave corporate jobs and focus on philanthropy. Examples include Vidya Shah of EdelGive and women billionaires like Savitri Jindal, who contribute significantly to philanthropy after inheriting wealth.
Challenges of Implementation and Ensuring Inclusivity:
- Implementation Hurdles: Ensuring effective use of philanthropic funds and overcoming traditional tracking and review systems require innovative approaches and careful consideration.
- Promoting Inclusivity: Recognizing diverse societal needs and tailoring support to address specific challenges fosters a more inclusive and supportive philanthropic environment.
UPSC Mains Questions:
Q. Discuss the impact of women-led philanthropy on social development in India. How do innovative approaches by women philanthropists differ from traditional practices?
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