Environmental change through financial innovation: A systematic analysis of Program-Related donations

Muhammad Jawad and Munazza Naz

Technological Forecasting and Social Change, 2023, vol. 191, issue C

Abstract: The research investigated the connection between Program-Related donations (PRDs), a rapidly growing philanthropy option, and Environmental development using fresh data. PRDs are distinguished by their adaptability, which permits the conversion of complex assets and the separation of giving decisions from the timing of tax benefits. While PRDs are often classed by their sponsor type, we provide a new classification scheme that integrates their economic purpose, including the consumers targeted, style and services provided, and emphasis on grant-making. This classification reveals that PRDs that provide FinTech tools, liquidity transformation, and grants concentrating on diversity, equity, and inclusion have had the most recent growth. Conditional correlations indicate that PRDs with a more innovative approach to service provide more grants to charities serving locations with high inequality, during times of greatest financial need, and with more efficient operations. The research showed that PRDs are connected with a variety of outcomes that appear to be associated with potential environmental advantages and addressing social issues such as diversity, fairness, and inequality.

Keywords: Program-Related donations; Non-profit organizations; Innovation; Environmental; Socially responsible investing; Fin-Techs; Financing (search for similar items in EconPapers)
JEL-codes: G24 G28 G32 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:191:y:2023:i:c:s0040162523002287

DOI: 10.1016/j.techfore.2023.122543

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