Between public and private: the Third Sector at the service of the community

(Il Sole 24 Ore Radiocor)- The Third Sector represents a fundamental component of the contemporary socio-economic system, standing between the State and the market. It was created to respond to collective needs that neither private, mainly profit-oriented companies nor the public administration can fully satisfy. Its member organisations operate in crucial areas such as social care, health, education, culture and inclusion. Thanks to their flexibility, they manage to adapt quickly to social changes and new emergencies. Their work is based on values of solidarity, participation and collective responsibility. Through the involvement of volunteers and professionals, they strengthen social cohesion. Moreover, the Third Sector contributes to reducing inequalities and protecting the most fragile segments of the population, and the many activities they perform complement and supplement those of public institutions. In many territorial contexts, the Third Sector represents an essential garrison of welfare, assuming an increasingly strategic role especially in a period of growing social complexity. The Third Sector, therefore, does not replace the State or business, but supports their action and promotes a fairer and more inclusive model of development. Its presence today is indispensable to guarantee fundamental rights and services. Precisely for this reason, according to Stefano Bolis, head of Institutional Entities and the Third Sector at Banco Bpm, the Third Sector "has an essential role to play in all those services that businesses and the public administration cannot fully guarantee. I refer in particular to services to the person towards which it is clearly vocated'.

The centrality and potential of the Third Sector can be found in the numbers. "According to studies and surveys conducted by various research institutes, the Third Sector is a asset with a very high prospective growth potential," Bolis explains. "Suffice it to say that since its inception it has expressed a growth rate of 10% per year. It is therefore an important sector for our country, representing almost 4.5% of GDP, involving about 350 thousand social enterprises, with a number of employees and volunteers that is around five million. And this is indicative of the numbers it generates. Presiding over this sector is therefore fundamental for the socio-economic fabric of our Italy'.

And it is precisely against this backdrop that Banco Bpm's decision to create a structure dedicated to the world of the Third Sector should be read, which follows institutional bodies, the world of associations and religious bodies. "It was a far-sighted choice, one of proximity and attention to the territory that enhances the commitment of so many people and realities that operate within this world. This is the assumption from which we started'. According to Bolis, 'we must get used to redefining the profit-non-profit distinction: they are not two terms to be considered antithetical. This is also because, increasingly, instances of social responsibility are being integrated into the traditional way of doing business. And this is happening not only by virtue of regulatory obligations that must be complied with, but in response to the direct requests of all stakeholders who are increasingly looking at how to balance business and sustainability'. In other words, sustainability is no longer an optional accessory but has become functional to the proper performance of companies. Therefore, in essence, the profit - non-profit contraposition dissolves. It is precisely from this consideration that it becomes clear that 'financial instruments are the same for both worlds. The difference lies not so much in the products themselves but in how and by whom they are offered. By providing the Third Sector with dedicated specialists, with specific knowledge and skills, we can adapt the financial instruments of the for-profit to the needs of the non-profit. And in this process it is people with their skills who make the difference'.

Bolis is strongly convinced that the Third Sector in the future 'will play an increasingly central role in Italy and will be increasingly complementary to the services of the for-profit world, which are essential in the various welfare systems that businesses have introduced. Of course, but on one condition: that ad hoc enhancement tools are studied and defined for those working in this sector. I am referring, for example, to a fair remuneration for those who work in social enterprises and their operators, who are often highly specialised and who today do not receive, in my opinion, remuneration in line with their commitment'. The top manager believes that the most important challenge facing the sector is that of 'legitimisation', which, in all circumstances, is the element that will be able to mark a turning point. Giving recognition and dignity to the Third Sector will also make it more attractive to young people who have a vocation and professional inclination towards social enterprise. "In the first place there must be commitment, which in the case of Banco Bpm is very strong. This is demonstrated by the structure I am in charge of, made up of experienced professionals, and the model of credit at the service of social enterprises, which is unique compared to other banking realities. It is a scenario in the making and the fact that the birth of the Third Sector is relatively recent facilitates its development and innovation. Remember that the perimeter of the Third Sector was defined thanks to a 2017 decree-law: there is still a lot of potential to be expressed'. According to Bolis, important signals have arrived on the legislative front, such as the introduction of the Registro Unico del Terzo Settore (Single Register of the Third Sector), which has defined the associations that operate in this sphere. 'Together with the different categories of volunteers, the picture is being completed. We are on the right track. The wish is that we continue in this direction with constant progress. Finally, it is to be hoped that the Third Sector becomes central in the activities and commitment to the community of all credit institutions'.