Habitat for Humanity Philippines and University of Cebu formalize ₱5 million (approximately US$96,000) partnership. For the next three years, the University of Cebu will support Habitat for Humanity projects, including building new homes and training youth leaders through the Habitat Young Leaders Build Leadership Academy. Margarita Moran-Floirendo, Board Member and Ambassador of Habitat for Humanity Philippines stated, “The youth is one of the leading voices in supporting our advocacy. We are grateful that the University of Cebu is one with us in furthering our vision of a world where everyone has a decent place to live.” The program will focus on creating future socially conscious leaders through giving equal access to youth to gain and exercise leadership skills.
PM Narendra Modi to donate Seoul Peace Prize money to Namami Gange Programme. India’s Prime Minister received the Seoul Peace Prize for 2018 in recognition of his dedication to improving international cooperation, fostering economic global growth, and furthering the development of democracy. Modi has dedicated the US$200,000 prize money to the Namami Gange Programme, a flagship program of his government focused on abatement of pollution and conservation and rejuvenation of the Ganges river. Modi is the 14th recipient of the award, and past laureates include former UN Secretary General Kofi Annan, German Chancellor Angela Merkel, and international organizations like Doctors Without Borders and Oxfam.
Despite an embryonic ecosystem, sustainable finance is growing quickly in China. High net-worth Chinese investors topped a UBS Group AG Global Survey assessing interest in sustainable investing last year, and new developments in both the public and private sectors are pushing this momentum forward. Leading impact investors highlight the array of opportunities for sustainable investing in China with an emphasis on clean energy as the country is the top target for clean energy investment globally. While 74% of wealthy Chinese investors—compared with just 32% of their U.S. and U.K. counterparts—expect sustainable investing to be the new norm in the next decade, the regulatory and legal framework that supports ESG investing still needs to be strengthened to make ESG data more reliable and impact investing less difficult.
AVPN and Prudence Foundation launch the Disaster Tech Innovation Programme. Singapore-based Asia Venture Philanthropy Network and the Prudence Foundation, the community investment arm of Prudential in Asia, announced the launch of their Disaster Tech Innovation Programme to raise awareness of “Disaster Tech,” innovative and viable technology solutions to protect and save lives before, during, and after natural disasters. The program will center on a competition for both nonprofit and for-profit social purpose organizations to crowdsource innovative solutions to enhance existing disaster risk reduction efforts in Asia Pacific. The Prudence Foundation has been promoting disaster preparedness across Asia since 2013 and hopes to encourage more organizations to contribute in this area as the Asia Pacific region is the most affected by natural disasters.
Centre for Asian Philanthropy and Society founder, Ruth Shapiro, highlights India’s CSR mandate. In a recent interview, Shapiro discusses India’s progressive CSR requirements and the need for stronger monitoring to ensure compliance. Shapiro brings attention to India’s role as a leader in CSR and their potential to be an example for other countries in implementing similar requirements.
Tech platforms in India are helping CSR efforts connect with small nonprofits. As the first country to make CSR mandatory, India’s CSR initiatives have developed significantly over the past few years. However, most CSR projects partner with large nonprofits on their radar, leaving smaller nonprofits often overlooked due to lack of exposure and accessibility. Several online social platforms, such as social marketplaces, have developed in response to this geographic bias to fill the gap that exists between nonprofits and their causes, donors, volunteers, and corporates who want to collaborate. These online social marketplaces are now enabling corporates to engage with CSR activities that more closely align with their CSR mission by connecting them to nonprofits directly that are working in their selected cause.
Samsung to invest more in education programs. As part of its CSR, Samsung Electronics plans to increase its investments in the field of youth education. On February 18, 2018, the company’s three division heads announced to employees that the renewed mission of Samsung’s social investment in education will be on “enabling people.” With this goal in mind, a particular target will be put on developing programs for teens. Although Samsung has conducted various CSR activities in the past, this announcement is notable in that it comes a month after its de facto leader and vice chairman Lee Jae-yong pledged to fully commit in taking on social responsibility as Korea’s leading conglomerate in a meeting with President Moon Jae-in at the Blue House.
Machine learning can double social impact if sufficient data are available. Gaining attention at the center of international conferences and Davos-launched initiatives, machine learning is being heralded for its potential to drive social delivery. IDinsight, a nonprofit that uses data and evidence to help leaders in the social sector combat poverty, highlights four practical requirements for machine learning to accurately make predictions that allow nonprofits to enhance their impact. In employing machine learning tools to help Indian nonprofit Educate Girls, IDinsight discovered that high-quality predictor and outcome data, the capacity to act on predictions, and the ability to maintain the machine-learning algorithms are critical in ensuring relevant and accurate prediction models for informed decision-making. To truly drive social impact with machine learning, philanthropy and government will also have an important role to play in funding the collection of accurate and geographically representative data.
Joint philanthropy and impact investing can enhance efforts to meet SDGs. While impact investing and philanthropic giving have traditionally been seen as separate silos in the financial world, efforts to meet the demands of the SDGs are bringing the two forms of financing together. Many social and environmental projects that may have the potential to become viable impact investments need assistance in their early stages. Philanthropic financing can play a pivotal role in helping these organizations and projects evolve and become mature enough to attract impact investments. While the SDGs have been pushing both philanthropy and impact investing towards a common goal, stronger linkages between the two forms of financing can complement each other’s needs and requirements and scale impact to meet the huge demand.
Singapore nonprofit, Willing Hearts, serves customized meals to the aging poor. Former businessman, Tony Tay, founded Willing Hearts, a nonprofit aid organization wholly run by volunteers that serves the aging poor in Singapore. With the help of nearly 200 volunteers, Willing Hearts prepares and delivers customized meals to more than 6,000 low-income elderly individuals every day of the week. Tay’s nonprofit has grown significantly over the years in response to the growing demand of an aging society, and Willing Hearts now offers additional services including dental care, optical care, and legal aid.