Philanthropy: The Path to Greater Impact

Silvia Bastante de Unverhau: The shifting landscape is changing the context in which philanthropy operates, and calling into question its role in development. Given the urgency of today's global challenges, we can use this moment to reimagine the future of aid and rethink how we deploy scarce philanthropic capital more efficiently and effectively.

What does systems-level change look like in practice?

Oliver Karius: The organisations we support are often innovating on the ground, but their solutions run into systemic barriers. That's where philanthropy has a catalytic role to play. It's not just about funding organisations; it's about helping to shift the whole system. That includes working much more intentionally across sectors - we're seeing a lot of momentum in collaborations that bridge philanthropy, public institutions, and private capital.

Silvia Bastante de Unverhau: This shift is exactly what we hear from philanthropists. Ten years ago, much of it was driven by passion and the hope of doing good. Now, there's a much sharper focus on impact: how to scale, how to attract more funding, and how to make it last.

What does systems-level change look like in practice?

Oliver Karius: In the immediate aftermath of Liberia's civil war, more than 40 fragmented, NGO-led community health-worker programmes were operating on the ground, and funders were just as disjointed. Community health models had existed for decades, but health workers often didn't receive the support they needed to be successful. And there were scant examples of programmes scaled nationally in sub-Saharan Africa.

That changed when Last Mile Health partnered with Liberia's Ministries of Health and Finance to work with four other NGOs under a single national programme with one curriculum, one supply chain, one data system, one supervisory structure, and one approach to paying health workers. The cost of care dropped from 16 dollar to 8 dollar per person from 2014 to 2024. LGT Venture Philanthropy was an early backer of Last Mile Health, which is now playing a leading role in strengthening community health-worker programming in sixteen countries across Africa. That's what systems-level change looks like.

With so many urgent, interconnected challenges, how should philanthropists decide where to focus?

Silvia Bastante de Unverhau: You need strategy - but also a bit of passion. Once someone chooses a focus, we help them make the most of their capital. Often, that means building on what already works, and listening closely to people with lived, local experience. We always encourage philanthropists to start by asking: where is funding most needed, and where can it make the biggest difference?

Oliver Karius: Philanthropy starts with the heart - then comes the mind, and then the wallet. It's a journey, not a product. And it only works when it's built on trust. That trust is what allows us to move quickly in a crisis, because we've already spent time understanding the organisation and its needs. That's what the LGT Venture Philanthropy approach is really about: showing up, listening, and staying long enough to make it count.

Can you share another example of that approach in action?

Oliver Karius: Educate Girls is a non-profit in India that helps girls in rural areas to access and then stay in school. We were among the first institutional supporters back in 2011. Since then, they've scaled up to reach 40 percent of India's out-of-school girls. They were recently awarded the 2025 Ramon Magsaysay Award, Asia's Nobel Prize. But more than the recognition, it's the impact that matters. For us, it shows what's possible when you combine tailored financing, strategic support, and real partnership over time.

How can philanthropists translate their values into action?

Silvia Bastante de Unverhau: Values are deeply personal, and people often shape their philanthropic goals around their own life stories. More families are starting to think holistically about wealth - not just how it's invested, but how it's created, spent, given, and eventually passed on. That reflection opens up powerful cross-generational conversations, especially around aligning capital with values.

In a recent LGT study, we found that many families now want to ensure that their investments don't undermine their philanthropic goals. Most don't want to find themselves combating climate change with one hand and funding it with the other. We see that kind of alignment increasing - but it requires a different kind of family conversation.

As a client of LGT, you benefit from the Princely House of Liechtenstein's vast experience in successfully passing on assets, companies, and values accumulated over centuries.

Oliver Karius: We're in the middle of the largest wealth transfer in modern history. Families that engage early - involving spouses and children - often use philanthropy as a way to pass on values as well as assets. It becomes a kind of glue.

We support this through initiatives like LGT's Next Generation Academy and Learning Journey. When families visit our local partners in East Africa and see the work first-hand, it helps the next generation to understand what complex change actually looks like. These immersive moments are one of the most powerful ways to learn.

Silvia Bastante de Unverhau: When first-generation wealth-holders engage in philanthropy, their children usually continue. It becomes a way to share values and create continuity across generations.

Do men and women approach philanthropy differently?

Silvia Bastante de Unverhau: One key difference is how risk is perceived. In finance, risk is a core metric - but in philanthropy, men and women often define it differently. Many women don't see large philanthropic decisions as risky in the traditional sense. In fact, they often point to the risk of not acting. It's a powerful reminder that both the financial industry and philanthropy still need to adapt to different perspectives.

What shift would you most like to see in the philanthropic sector?

Silvia Bastante de Unverhau: I'd love to see a continued shift from attribution to contribution, and from competition to collaboration. That's how we reach meaningful scale. The more we stop trying to «own» impact, and instead ask what we can contribute to, the better the outcomes will be.

Oliver Karius: I hope philanthropy will focus less on chasing the next shiny solution, and more on doubling down on what works. Collaboration is critical. If we're doing this well, we make ourselves redundant - because the problem gets solved.

• Learn more about LGT Family Governance here.
• Learn more about LGT Philanthropy Advisory here.
• Learn more about LGT Venture Philanthropy here.