GivingLarge Report Uncovers a Surge In Corporate Giving Amidst Cost-of-Living Pressures
Corporate Australia has continued its positive trajectory in corporate giving in 2023 with a
substantial surge in total contributions to a community in need.
A comprehensive financial analysis of Australia’s top companies found over $1.4 billion was
invested into philanthropic efforts in 2023 from our top 50 corporate givers – up a substantial
15% (and $180 million) from last year’s record total.
In its annual pursuit to spotlight corporate philanthropy, Strive Philanthropy has proudly
released its 2023 GivingLarge research report, a comprehensive record of Australia’s top
corporate givers. The research shines a light on corporate giving, examining the community
investments made by Australia’s largest public and private organisations.
The 2023 surge in corporate social investment was driven by a larger than normal number of
leading companies who significantly increased their total investment. A record 20 out of the top
50 companies increased their contribution by more than 20% with companies from the
consumer and finance sector leading the growth versus 2022.
Our latest research findings reveal a substantial surge in corporate giving from our Top 50
organisations. The 2023 findings extend a pleasing run of growing community investment,
affirming that the upward trajectory in corporate giving witnessed in recent years is not a
fleeting trend but a robust and ongoing commitment said report Author and Strive Philanthropy
founder Jarrod Miles.
“It is important to commend our leading companies and those that significantly grew their
community investment in 2023. Their proactive engagement demonstrates a commitment to
being socially responsible stewards and playing an active role in shaping positive change.”
With increasing cost of living pressures, this year’s findings signaled a timely pledge to
community well-being.
Leading firms sustained a commitment primarily directed towards areas encompassing social
and public welfare, health, and education with a growing 75% of the nominated cause areas
falling within these categories.
Largest dollar contributions came from BHP, Coles, Woolworths, Rio Tinto, and Westpac, while
largest percentage contributions (of profit or earnings over a rolling 3 years) came from Coles,
Bendigo & Adelaide Bank, Woolworths and Newcrest.
For a fourth consecutive year supermarket giant Coles ranked number 1 in percentage
contribution. Coles contributing $152 million in 2023, representing a remarkable 9.0 per cent of
the company’s profit on a rolling 3-year basis. Their 2023 figure up a significant 26% compared
to last year’s leading result with funds heading towards food rescue, health and disaster relief.
Coles Group General Manager Corporate & Indigenous Affairs Sally Fielke said, “Coles is
incredibly proud to be recognised once again as one of Australia’s top corporate givers by Strive
Philanthropy.”
“Community is at the heart of what we do at Coles, whether that’s donating food to SecondBite
to help feed Aussies in need, providing water and essentials to evacuation centres during
natural disasters, fundraising for children’s hospitals or volunteering at local Little Athletics
clubs and centres.”
“This is a terrific recognition of our team members, customers and suppliers across Australia
who go above and beyond each and every day to support a range of causes in their local
communities.”
The research also notes an overall improvement in corporate generosity when reviewing the
portion of corporate profits donated to the Australian community with the top 50 companies
contributing an overall 0.79% of their profits.
GivingLarge not only celebrates the current strides but beckons for more. As we navigate a
changing landscape, Strive Philanthropy and their research partners call on corporations to
amplify their giving, urging businesses to embrace the power of philanthropy and foster a
culture where societal well-being is at the forefront.
Philanthropy Australia have been long term supporters of the report and commented on the
results and the continued opportunity for corporates in this area, CEO Jack Heath saying
“In the face of yet another challenging year, both domestically and internationally, it is
heartening to see a growing number of companies demonstrating their commitment to give
back to and support the communities in which they operate.
We hope the insights in this report inspire more corporates to give and serve as a catalyst for
meaningful conversations, collaboration and real positive change across our communities.”
For more information contact Strive Philanthropy director Jarrod Miles at
[email protected]
0434 602 382
Visit www.strivephilanthropy.com.au
ENDS
About GivingLarge
The GivingLarge Report and research sets out to highlight the considerable community
contributions being made by some of Australia’s top companies. The research conducted
annually by Strive Philanthropy and now in its sixth year analyses the publicly available reports
of our top companies, compiling their community investment statistics to develop a unique
data set aimed to draw attention to corporate Australia’s efforts in this area. Supported by
Philanthropy Australia, the findings of this report will: Inform future corporate behaviour in
community investment; encourage increased contributions & transparency; stimulate best
practice sharing and create an environment of healthy philanthropic competition.
About Strive Philanthropy
Strive Philanthropy is a research organisation dedicated to highlighting the notable
philanthropic efforts of corporate Australia within our community. By highlighting corporate
generosity through focussed research and public awareness efforts we will help to drive valued
social change, increased transparency and increased community contributions. Strive has its
sights set on working with companies to rapidly grow their mean percentage community
investment. A goal that could drive millions of dollars to the Australian community.
