The level of donations to charity from FTSE 100 companies has fallen by £655m since its peak in 2013, according to a report published today by the Charities Aid Foundation.
Total donations in the financial year 2015/16 were £1.9bn, out of pre-tax profits of £82bn, CAF research found.
The report shows that most donations were made by a minority of companies, with pharmaceutical companies accounting for 55 per cent of all donations. Most of those donations were in-kind supplies of materials, drugs and healthcare.
The report found that only 26 companies give more than 1 per cent of their pre-tax profits to charity, and that the top ten most generous companies gave £1.3bn – well over half the total.
A total of 15 companies did not give information on donations.
In total, FTSE 100 companies gave 2.4 per cent of their profits to charity.
Klara Kozlov, head of corporate clients at Charities Aid Foundation, said: “Company giving is critical. Unfortunately the downward trajectory for corporate giving continues, with fewer companies replenishing a depleted pool of money donated to charitable causes.
“This is certainly a concern for charities. It is vital that civil society can work with businesses to show how partnership between charities and business can benefit both, as well as greatly enriching society.
“We believe company giving, both financial and non financial, is vital. It helps to deliver positive impact and enables the convergence of interests between business and society and, by doing so, fosters integrity and bolsters trust.”