How Partnerships Between Corporates and Not-for-Profits Are Key to ESG Impact
ESG (Environmental, Social, and Governance) factors have become increasingly important for businesses in recent years. Companies are expected to not only maximise profits but also prioritise sustainable and responsible practices. This ever-growing focus on ESG as a key strategic pillar for corporates has led to an increase in values-aligned and mutually beneficial partnerships between corporates and not-for-profit/social impact organisations.
Partnering with a not-for-profit/charitable organisation can benefit a corporation in several ways:
It allows the company to align its goals with a social or environmental cause, demonstrating a commitment to responsible practices beyond just profit and delivering on their ESG strategies.
It can provide the company with access to expertise, resources, and networks that it may not have in-house. At OKC, we know that not-for-profits are experts in delivering on social impact.
It can strengthen a company's reputation and brand image by demonstrating its commitment to making a positive impact in the community.
It can provide a company with new and more diverse audiences and customers
Not-for-profits benefit from these partnerships in the following ways:
Partnering with a corporate can provide not-for-profit organisations with funding, resources, professional expertise and access to networks that can help them achieve their mission.
These partnerships often increase the organisations visibility and reach, raising awareness, engagement and support from a wider audience.
At OKC, we believe that meaningful partnerships between corporates and not-for-profit organisations play a key role in bringing ESG strategies to life and creating transformational social impact.
Case Study: The UNICEF Corporate Vaccine Alliance
In 2021, OKC was privileged to work with UNICEF Ireland on the development and roll-out of the UNICEF Corporate Vaccine Alliance, as it gave us the opportunity to bring our mission - enabling philanthropic impact – to life. The UNICEF Corporate Vaccine Alliance is a partnership between UNICEF Ireland and several Irish companies to support the global COVID-19 vaccination effort. Participating companies made a commitment to support UNICEF's efforts to improve access to life-saving vaccines for children around the world.
The companies who joined the Alliance pledged to make financial contributions to the initiative and to promote the campaign through their networks and social media channels. The funds raised through the UNICEF Corporate Vaccine Alliance are used to support UNICEF's work in procuring and delivering COVID-19 vaccines to low- and middle-income countries.
The UNICEF Corporate Vaccine Alliance is a strong example of how companies can come together to support a common cause and make a meaningful impact via the ‘S’ of ESG – on global citizenship, global health, and wider society. Joining the UNICEF Corporate Vaccine Alliance contributes positively to a company's ESG profile by demonstrating not just a philanthropic desire to do good through corporate citizenship, but being part of a pool of socially aligned corporates who demonstrate this commitment to investors, customers, and employees.
“OKC’s expert consultancy work was instrumental in building and launching the UNICEF Corporate Vaccine Alliance. OKC's deep understanding of fundraising from businesses and their commitment to making a difference in the world have been instrumental in the success of that business centric, public facing alliance launch. OKC brought in the necessary expertise to build out a novel communications and marketing plan that attracted greater levels of contributions. The UNICEF Corporate Vaccine Alliance has enabled UNICEF Ireland to draw support from corporates across Ireland which helped deliver critical COVID-19 vaccines.” - Owen Buckley, Head of Corporate Partnerships, UNICEF Ireland
Conclusion
Partnerships between corporates and not-for-profit organisations are a vital element of driving progress in the ESG space. The impact that these partnerships have had in recent years demonstrates the importance of collaboration between the public, private and not-for-profit sectors in achieving sustainable and responsible practices and promoting positive social and environmental impacts. Through collaboration, corporates and not-for-profit organisations can work towards creating a more sustainable and responsible future for all.
At OKC, we regularly engage with corporates and not-for-profits alike to provide a holistic view of the ESG landscape and provide tailored support in the development of partnerships that can make a real difference. If you're looking for a partner to help you make a positive social impact, find out more about how we can support your mission here.