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

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  • Jawad, Muhammad
  • Naz, Munazza

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.

Suggested Citation

  • Jawad, Muhammad & Naz, Munazza, 2023. "Environmental change through financial innovation: A systematic analysis of Program-Related donations," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    • Handle: RePEc:eee:tefoso:v:191:y:2023:i:c:s0040162523002287
    DOI: 10.1016/j.techfore.2023.122543
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    References listed on IDEAS

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    More about this item

    Keywords

    Program-Related donations; Non-profit organizations; Innovation; Environmental; Socially responsible investing; Fin-Techs; Financing;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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