Corporate foundations are popular vehicles for businesses to support their ESG (environmental, social and governance) commitments. But how do you make sure a foundation is right for your business, and when might alternatives such as becoming a B Corp or partnering with an existing charity be more suitable?
In this week’s NLJ, Farrer & Co partner Elizabeth Jones, and associates Emma James and Sarah Gill look at the various factors a business should take into account when deciding the best way to channel its charitable endeavours.
Jones, James and Gill explain what a corporate foundation is—there is no legal definition of a corporate foundation—and what’s involved in terms of structure, operations, compliance, governance and costs. They look at alternatives such as B Corp certification.
They write: ‘Providing the risks are understood and addressed, corporate foundations can offer an effective route for businesses that are ambitious in achieving their ESG objectives.’RELATED ARTICLES
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