Around the World

IN THE US - The billionaire challenge

Warren Buffet , together with Bill and Melinda Gates , is urging hundreds of Americans billionaires to pledge at least 50% of their wealth to philanthropy. Their campaign has culminated in the launch of a website called The Giving Pledge on which Buffett has posted a letter confirming that he is donating 99 % of his wealth, claiming that 1 % is enough for his family and that ''neither our happiness nor our well-being would be enhanced'' by keeping more.

The theory behind the approach is that wealthy people all worry about what to do with their money but they put off making a decision because : they don’t want to plan for their death; they don’t want to hire others to help plan the details; or they don’t take the tim e to think through the issues. The pledge campaign is designed to inspire them to cut through the detail and make the commitment.

Each person who chooses to make The Giving Pledge makes a public statement along with an explanation abou t the decision to pledge. They are then given the opportunity to attend an annual “idea sharing” event with others who have pledged .

The Giving Pledge campaign is currently focu sed on the US but it is hoped that the effort will eventually extend worldwide.

GO TO THE GIVING PLEDGE

IN THE UK - The royal challenge

T he Queen should harness her Diamond Jubilee celebrations in 2012 to unleash a "civic revol ution" of giving to good causes, according to a report to be issued by the SCA Institute, a social enterprise group in the UK.

The report entitled “The Diamond Dividend” urges the Queen to lead a national effort to ra ise an extra £4 billion ($6.9 billion) for the not-for-profit sector by persuading everyone to donate 1% of their income .

It is proposed that initially Her Majesty should persuade business and civic leaders, religious advisers, sports stars and celebrities to sign up to the cause. They would then get their staff, congregations, fans, networks, allies and supporters to take part. The report also called on Prime Minister David Cameron and Cabinet ministers to lead by example and commit a fixed part of their pay to charitable donations.

According to the report "It would be bigger than Live Aid, Band Aid and Comic Relief ” .

"We dream and believe that the Queen and the rest of the Royal Family could act as a powerful civic catalyst to establish this new social norm."