Earlier this month, Yvon Chouinard, founder of US-based outdoor retailer Patagonia, announced he was giving away the company to a charitable trust working on climate action. Chouinard has joined a growing list of businesspersons pledging their wealth to climate action. How well are Indian billionaires doing on charity?
In India, philanthropic funding has failed to meet demand. In FY21, the social sector funding deficit was as high as 47%, according to a Bain & Co. report. Here’s a look at how philanthropy is evolving in India and the world:
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