UNLOCKING INSIGHTS FROM ‘THE BUSINESS OF PHILANTHROPY’ AT THE EMIRATES LITERATURE FESTIVAL

With the world grappling with a $5 trillion annual funding gap to achieve the United Nation’s Sustainable Development Goals (SDGs), notable leaders from philanthropy, business and the social sector convened at the Emirates Literature Festival to discuss the role of philanthropy in meeting these goals. The conversation centered on unlocking insights from the book ‘The Business of Philanthropy’ published by Harper Collins and authored by Badr Jafar, which explores how strategic philanthropy can catalyse systemic change, particularly in high-growth regions like the Middle East, Africa, and Southeast Asia.

Moderated by Badr Jafar, Special Envoy for Business and Philanthropy, UAE, and CEO of Crescent Enterprises, the panel featured Sultan Sooud Al Qassemi, Founder of the Barjeel Art Foundation; Fadi Ghandour, Executive Chair of Wamda Group; and Isobel Abulhoul, Founder of the Emirates Literature Foundation. The session emphasised the critical need for intentional, data-driven approaches to deploying philanthropic capital.

In his opening remarks, Badr Jafar said, “In an era marked by the largest intergenerational wealth transfer in history, the challenge is no longer access to capital but channeling it strategically to create long-lasting impact. Philanthropy is no longer simply about giving; it is about systemic change”.

Key themes from ‘The Business of Philanthropy’ book, featuring insights from over 50 global leaders, framed the discussion that underscored how private wealth and business principles can be pivotal in addressing societal needs while respecting local community dynamics. With over $83 trillion expected to transition globally over the next two decades, including $1 trillion in the Middle East within the next five years, the session highlighted the next generation’s pivotal role in leveraging wealth and innovative tools to address systemic challenges.

Isobel Abulhoul, Founder of the Emirates Literature Foundation, highlighted the enduring impact of philanthropy in literature, stating: “Philanthropy in literature is an investment in knowledge, culture, and the future. By fostering a love for reading and education, we empower individuals and strengthen communities. As technology reshapes how we learn, we must ensure that access to literature and education remains universal, bridging gaps and creating new opportunities for generations to come”.

The conversation highlighted the role of culture, heritage, and innovation in philanthropy. Sultan Sooud Al Qassemi, Founder of the Barjeel Art Foundation, stated: “Culture is the foundation for progress. Through philanthropy, we safeguard heritage, inspire new generations, and expand the possibilities of the future”.

Fadi Ghandour, Executive Chair of Wamda Group, reinforced the need for entrepreneurial philanthropy: “Philanthropy must embrace risk, innovation, and sustainability. The greatest impact happens when giving is strategic, empowering, and built for long-term resilience”.

High-growth markets across the Global South now contribute over 60% of global GDP. These regions are poised to lead philanthropic innovation and social impact investment. The discussion explored how innovative tools and private-sector expertise can be harnessed for scalable and systemic change.

The session concluded with actionable insights, encouraging attendees to adopt strategic approaches to giving. Badr Jafar concluded, “As the UAE strengthens its position as a global hub for strategic philanthropy, we stand at a pivotal moment where capital, data-driven strategies, and cross-sector collaboration converge to drive scalable, lasting impact”.

2025-02-03T19:14:40Z