Finding your way around corporate giving jargon
Do you know your ESG from your CSR? Or sustainability from social impact?
If not, then you’re in the right place.
Some industries have their own languages and corporate giving is one of them. So much so, that you might also know corporate giving as ‘workplace giving’ or ‘charitable giving’ - depending on where your company and workforce are located.
We’ve created a guide to the most common acronyms and phrases used in the sector to help you find your way around.
We’ve included a few of the terms used in this article and you can extend your knowledge in The Complete Guide to Corporate Giving Jargon in our Learning Hub.
A-Z
Corporate citizenship – the recognition of social, environmental and other ethical responsibilities of businesses and individual employees to the community in which it seeks a licence to operate, as well as economic and financial ones to its shareholders or immediate stakeholders.
Corporate donations – donations either of money, goods or services (see ‘In-kind donations’) given to charities and nonprofit organisations by businesses.
Corporate purpose - a higher purpose for a company that goes beyond making a profit, such as making a positive social impact.’‘Purpose driven’ is used as an alternative.
CSR – an acronym for Corporate, Social Responsibility, CSR is an internationally recognised business management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.
Employer-supported volunteering - this is a great way to give either time or expertise to good causes by encouraging your workforce to volunteer
ESG – an acronym for Environmental, Social and Governance, a framework of standards around ethical issues, such as climate change and social impact, which organisations can adopt and report on to show stakeholders, including investors, employees and customers, they are socially responsible.
Grantmaking – used in the US, a common form of corporate giving is via grantmaking. Discretionary grants are usually given by charitable foundations set up by businesses, families or individuals, to donate to specific causes or charities.
Greenwashing – a form of marketing where an organisation spends more time trying to appear environmentally sustainable than actually implementing eco-friendly practices.
Nonprofit – otherwise known as 'not-for-profit,’ this describes an organisation designed not to make a profit, but instead to support people in need or to serve a specific social or community need. Just like charities, there can be different types of nonprofits. The word nonprofit phrase is more common in America than in the UK. Read more about the US Council of Nonprofits.
Payroll Giving Agencies (PGAs) – are UK-specific organisations set up to efficiently distribute donations made via employee salaries to charities and nonprofits. There are currently 23 Payroll Giving Agencies approved by HMRC, of which The GivingForce Foundation is one.
Purpose-driven – a business which stands for and takes action on moral or ethical issues which go beyond how their organisation operates and the delivery of products or services, to promote and adhere to a core mission.
Responsible business – organisations which are not only driven by profit, but also consider wider society, the economy and the environment by providing environmentally ethical and safe working conditions, services and products.
Sustainability – for most of us this word relates to protecting the environment, but in corporate governance, the meaning also encompasses encouraging businesses to consider the environmental, social, human and economic impact of their business decisions. In short, to focus on driving sustainable value rather than short-term profit.
Sustainable Development Goals – also known as the ‘Global Goals,’ the Sustainable Development Goals (SDGs) were adopted by the United Nations in 2015. They are an urgent call to protect the environment, end poverty and create a more peaceful and sustainable world by 2030.
Workplace giving – encompassing many of the terms explained above, this is sometimes used to describe all activities associated with companies and employees giving to charities and nonprofits, fundraising and volunteering time and skills. In Australia, workplace giving is used instead of payroll giving.
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