There should be international standards for tracking cross-border giving to allow for a clearer picture of how philanthropists help achieve the United Nations’ Sustainable Development Goals, according to new research.
“Common standards” for tracking and sharing data on charitable giving to causes such as climate change, racial justice, and equality for women and girls would allow governments to see where they can partner with the philanthropic sector to achieve the SDGs, according to a global philanthropy tracker report from Indiana University. The report was released Thursday.
It specifically examines cross-border giving. The report found that $70 billion flowed out of 47 countries of “varying levels of economic development” and from every world region in 2020, the most recent year for which data was available. It also looked at other cross-border flows of money, including official development assistance, private capital investment, and remittances sent by individuals back to their home countries or familial homelands.