The Economics of Philanthropy according to Jonathan Oppenheimer

Host Mudiwa Gavaza is joined by Jonathan Oppenheimer, South African businessman and conservationist.

Philanthropy and the economics behind it are the focus of this edition of the Business Day Spotlight. 

Our host Mudiwa Gavaza is joined by South African businessman and conservationist Jonathan Oppenheimer. 

Oppenheimer, a former executive at Anglo American and De Beers, outlines the role of philanthropy as a means to address big issues in the world, giving his thoughts about ESG and its relevance in philanthropy.

In a world where sustainability is centred on taking care of people, the planet and profits, Oppenheimer says the financial aspect has to be addressed first. This helps to ensure that those who are working to take care of certain causes have the ability to continue to operate independently in the future.

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According to Oppenheimer, philanthropic effort falls into three main categories: those that participate to comply with laws; those that are ego driven and want to be as seen as altruistic; and those actually looking to address social and ecological challenges.

Now chairman of investment firm Oppenheimer Partners, he shares his thoughts on conservation and why it is important for wealthy and high net worth individuals to get involved with philanthropy. 

The discussion reflects on the state of philanthropy in the world; the role of capitalism in helping to address global challenges; the importance of conservation; and issues of sustainability.

This article originally appeared on Business LIVE