During a roundtable discussion titled Philanthropy – The way ahead for Government, Business and the Community organized by the Australian Davos Connection (ADC) and the Business Council of Australia (BCA), Rudd urged corporate leaders to push forward with charity even in the face of financial pressures.

The summit held at the Hilton was convened in order for Australian corporations and international businesses to discuss how to further relations with communities. Rudd conveyed that a strong partnership between the two groups could mitigate the damage caused by the global economic recession.

According to Mr. Rudd, “What we can do working together is to reduce the damage of that storm and local communities which are most vulnerable and we are much better equipped to do so when we choose to do so together, intelligently, creatively, compassionately.”

While Rudd acknowledged the strains felt by the business sector, he pleaded to corporate Australia, saying that “wherever it is possible, not to cut back” and to “fill the gaps” on charitable contributions, especially to communities hardest hit by the crisis.

He added, “When you have the government, the community and the corporate sector acting creatively together you actually end up, often, producing a much better service, a much more creative service, and one much more tailored to local communities.”

Michael Roux, Chairman of the Australian Davos Foundation, reiterated the significance of corporate philanthropy especially in distressed times.

Roux believes that it is imperative for corporations to maintain their philanthropic interest despite economic troubles.

According to him, it is during these times that public confidence to the corporate sector must be restored because it is “a critical part of a functioning and stable society.” If it walks away from philanthropy, trust would be eroded.