Bill Clinton: “Philanthropy must clearly identify its priorities”

Philanthropic foundations must concentrate on their priorities and methods of work in the conditions of reduced financing caused by the economic crisis, as stated by the 42nd President of the United States Bill Clinton at the Second Davos Philanthropic Roundtable organised by the Victor Pinchuk Foundation in Davos during the Annual Meeting of the World Economic Forum.

In his opinion, economic crisis shouldn't push into the background the vital problems of mankind - problems that depend on philanthropic, social and environmental initiatives.

"Today, we live in the world that is unjust, unstable, unsteady and unpredictable. And now we must think about our actions for the nearest future", outlined Clinton. He in particular emphasised on the urgent need to reduce emissions of greenhouse gases: "If we fail to reduce it by half within ten years, in two hundred years time there will be no one living on the Earth."

The social sector is forced to work on such problems in hard conditions when "there is little available money left in the world".

According to Clinton, any charity foundation in this situation should follow three vital guidelines - clear priorities definition, mandatory concentration on healthcare and philanthropy expansion projects, and also engagement of more and more people in this field of activities.

"It is important that we stop asking how much money will be provided and start questioning what to do and how to proceed" - stated Clinton.

As reported earlier, more than 300 representatives of international business and political elite, the largest charity foundations and NGOs, corporations and venture funds participated in the Second Davos Philanthropic Roundtable conducted by the Victor Pinchuk Foundation during Annual Meeting of World Economic Forum.

Background:

A philanthropic meeting point organised by the Victor Pinchuk Foundation in Davos during Annual Meeting of the World Economic Forum, Davos Philanthropic Roundtable is aimed at developing philanthropy in Ukraine and increasing effectiveness of social projects. Main theme of the Second Davos Philanthropic Roundtable, entitled "From Philanthrocapitalism to Philanthrocrisis", was the impact of the economic crisis on philanthropy and perspectives of philanthropy development.

The key speakers at the event were the dignitaries who have significantly contributed to the development of a new model of philanthropy: 42nd President of the United States Bill Clinton; former
Prime-Minister Of Great Britain Tony Blair; businessman and philanthropist Richard Branson; Laureate of 2006 Nobel Peace Prize Muhammad Yunus; actor and founder of the One Foundation Jet Li, founder of the Bill and Melinda Gates Foundation Bill Gates and also Victor Pinchuk, the Roundtable organiser, public leader and businessman. Matthew Bishop, Chief Business Editor of The Economist and co-author of the book "Philanthrocapitalism: How the Rich Can Save the World" was a moderator of the discussion.