The big freeze is over for most of the northern hemisphere.
Spring has begun and, as we come to the end of the 2023-2024 tax year, many clients will be reassessing how best to re-align their finances with their values, and considering how to use their money to help protect people and planet in 2024 and beyond.
This is perhaps especially so now, when recent temperatures in some parts of Spain for example, have reached unusually record levels for January of 30 degrees Celsius, reminding us of the stark reality that something major needs to be done.
One of the best ways that advisers can help their clients protect people and planet is through the principle of philanthropy and giving, and there are many ways to do this effectively.
This article interviews three senior spokespeople from organisations who have stepped up to the challenge of helping advisers and their clients use their money for good, marrying principles and profit.
Stewardship
The first organisation is Stewardship, which was set up more than 100 years ago as a hub of advice and facilitation to enable clients to invest, save and donate to good causes in the best way possible.
The term 'stewardship' has many meanings, but in terms of finances, it has connotations of care and responsibility over goods.
Rachel Steeden, head of legal takes this further, looking at the Christian ethical roots behind stewardship that her firm works upon.
Steeden describes the principle of stewardship as “a biblical concept based on the belief that we don’t truly own anything, that everything we have comes from God and belongs to him.
"Our job is to look after the things God has entrusted us with; effectively we are stewards or custodians of all the resources we have at our disposal, from our skills, time and finances to our environment and communities.”
But this branches out more widely across society, Steeden says.
She believes this concept of 'stewardship' is very important for philanthropy as it can motivate those who embrace it not only to give as effectively as possible, but also to steward what they keep for their family’s needs as well as they can, so that the overall impact of their resources is maximised.
She says: “Engaging in stewardship can be very liberating. It can both motivate you to work hard to make the most of what you have and make it easier to be generous.
"Moreover, philanthropists enjoy the lasting sense of purpose their generosity provides and are motivated by seeing the positive difference they can make with their wealth.”
There are also challenges to giving wisely and Steeden acknowledges this.
She says: “The challenge of stewarding wisely can be daunting. It is easy to feel overwhelmed by the scope and scale of the needs in different areas and to wonder how any individual effort to steward well can make a material difference.
