Sustainable Philanthropy
Sustainable Philanthropy
On this weeks episode we round off our series on sustainability with a discussion with Rennie Hoare, Partner and Head of Philanthropy at C. Hoare & Co. a Private Bank here in the UK, as well as discussing the history of the family business, and how Rennie became a Partner in the business we look at some of the emerging trends in philanthropy and in particular “sustainable philanthropy”.
Strategic Philanthropy
Rennie’s role with the bank includes being Head of Philanthropy and seeing as we are in a series on sustainability I thought it pertinent to ask him about sustainable philanthropy.
Rennie covers this really well in the podcast but to summarise; having an understanding of your total portfolio impact is key. Taking action to have a marketing impact is not sufficient and having real impact is the goal of philanthropy.
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Getting Started
As with most of the comments we have heard from family businesses that have successfully measured their impact from an ESG perspective, their advice is to use some of the measurement tools that are available to get started.
The UN’s 17 Sustainable Development Goals are a fantastic starting point as they allow you to measure what you are already doing against a set of easy to understand goals.
In addition, don’t let complexity stop you from taking action. Rennie explains that part of the enjoyment of the process is to learn as you go and to hone your skills as an individual and as a business.
You can speak to others about their experiences and if you are aware of which of the SDG’s you want to align your strategy to, it helps to create a common language. Rennie also suggests reaching out to your network and finding out what they have done and what lessons they have already learned.
As with most things, when it comes to sustainable philanthropy, progress over perfection is best!
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Russ Haworth
I am a specialist family business adviser. I work with family businesses to help them to navigate the complexities that come from being in business together.
Whether it is governance, succession planning, family dynamics or any of the other challenges you may be facing, please get in touch. I can help
About Rennie Hoare
Rennie joined the bank in 2016 and was made Partner in 2018. He is Head of Philanthropy and chairs Messrs. Hoare Trustees (this includes the bank’s donor advised fund, the Master Charitable Trust).
Previously, Rennie worked at T. Rowe Price, where he was responsible for relationships with institutional investment consultants in the UK and Europe, and spent time at Threadneedle Asset Management Ltd. and Guinness Asset Management Ltd. He holds a B.A. (Hons) degree in Politics from the University of York and the Investment Management Certificate.
Rennie is a trustee of the David Nott Foundation and serves as chair of Philanthropy Impact. He particularly enjoys mentoring the next generation of philanthropists.
About C. Hoare & Co.
C. Hoare & Co. is the sole survivor of the private deposit banks which were established in the 17th and 18th centuries. The bank has been owned and directed by members of the Hoare family since it was founded by Richard Hoare in 1672.
In the days before street numbering, businesses were identified by signs. Richard Hoare traded at the ‘Sign of the Golden Bottle’ in Cheapside.
In 1690 he moved the business to new premises in Fleet Street within the City of London, the site of today’s Head Office.
Much of their history can be explored in the C. Hoare & Co. museum, which is located in their Fleet Street office.
