To hold ourselves accountable for our community giving and social impact, as mentioned earlier, Perpetual Group has made a commitment to give equivalent to 1% of our underlying profit before tax through community giving and volunteering.
We measure community giving and volunteering using the Business for Societal Impact (B4SI) framework, which measures the financial value of our voluntary support for organisations that have a charitable purpose.
Based on this framework, our total community giving and volunteering in FY23 was equivalent to $2.16 million.
This is equivalent to 0.98% of our FY23 underlying profit before tax, just below our target of 1%. Our community giving in FY23 included $1.88 million of cash donations and memberships or sponsorships of organisations with charitable purposes and the equivalent financial value in time of 1,524 hours spent by our people volunteering with community organisations.