Who’s Doing Good?

22 July 2019 - 4 August 2019

THE GIVERS

Tin Ka Ping Foundation donates HK$5 million (approximately US$640,000) to The Hong Kong University of Science and Technology (HKUST). Dr. Tin Ka Ping’s eponymous foundation has reinforced the late philanthropist’s lifelong commitment to education through its most recent donation. Made to the Tin Ka Ping Education Fund—a permanent fund established in 2008 for HKUST’s Institute for Advanced Study (IAS)—the donation raised the Fund’s principal to a total of HK$11 million (approximately US$1.4 million). The university plans to use the new funds to support its “Dream Chaser Scholarship Fund” aimed at meeting the financial needs of students from disadvantaged backgrounds. HKUST President Prof. Wei Shyy remarked, “I am sure this donation would help foster whole-person development for students—especially those in need, and help attract more excellent young scholars to our university, further expanding the realms of academic and knowledge frontiers.”

Donations to Kyoto Animation surpass ¥1 billion (approximately US$9.4 million) after tragic arson attack. Support for Japanese anime studio Kyoto Animation has poured in from inside and outside the country in the wake of the July 18th arson attack which resulted in 35 casualties. Over 48,000 donors, including individuals and companies, donated US$9.4 million in just five days after the studio opened a bank account specifically for receiving donations. Outside Japan, Sentai Filmworks, a U.S. company that distributes Japanese anime, managed to raise US$2.3 million for the studio via crowdfunding. Kyoto Animation will use the money to help injured victims and deceased victims’ families as well as aid reconstruction efforts. The firm plans to report the use of these funds to the public.

Hui Ka Yan, Chairman of Evergrande Group, tops Forbes’ China Philanthropy List for the fourth time. The chairman of one of the world’s most valuable real estate companies retained his top position on Forbes’ China Philanthropy List after receiving the accolade in 2012, 2013, and 2018. Yang Guoqiang, Chairman of real estate company Country Garden, and Jack Ma, co-founder of Alibaba, were second and third respectively. Hui Ka Yan led with total cash donations worth ¥4.07 billion (approximately US$586 million) followed by ¥1.65 billion (approximately US$237 million) donated by Yang and family, and ¥980 million (approximately US$141 million) under Ma’s name. Donations across the hundred entrepreneurs featured on the list totaled ¥19.17 billion (approximately US$2.8 billion), a seven-year high and a 10.7% increase year-on-year.

Hong Kong billionaire Lui Che Woo offers insight into his philanthropic efforts. One of the richest men in Hong Kong, Lui Che Woo, established the Lui Che Woo Prize for World Civilization in 2015 through a donation of US$1.2 billion. Nine laureates have received the prize’s cash award of HK$20 million (approximately US$2.6 million) each so far. In this Forbes interview Lui states that motivation for establishing the prize came from his own experience of World War II, which led him to question why conflict and development gaps continue to exist. The prize focuses on “the appreciation and recognition towards sustainability of world resources, determination in betterment of people and the society, and demonstration of positivity which enables mankind to withstand different challenges.” Lui’s philanthropy is rooted in an idea of being “gifted” by society, and he vows to never forget to contribute back to it.

THE THINKERS

Impact investment rising in Asia, but challenges remain. CAPS’ Director of Research, Mehvesh Mumtaz Ahmed, argues that impact investment in Asia has evoked wide interest but commensurate capital deployment is yet to be witnessed—Asia accounts for less than 10% of global impact investment assets under management. She cites the newness of impact investing in Asia as one inhibitor. According to a poll of ultra- and high-net-worth individuals, 98% of respondents looked to increase their allocations to impact investment, but over half had not made a single impact investment. A mismatch between the types of financing needed by social enterprises and those on offer from impact investors has also surfaced as a gap. But, Mehvesh Ahmed argues, the thinking around impact investment in Asia is constantly evolving and the future for the financing mechanism appears bright. CAPS will be releasing a detailed study on social entrepreneurship and impact investing in Asia this fall.

Increasing inheritance tax levels could boost giving in Asia. Sumit Agarwal, Professor at the National University of Singapore, opines that Asia can do more to spur its ultra-rich to be more philanthropic. Asia has been home to incredible wealth creation in recent years: the number of billionaires in China rose to 819 in 2018 from 571 in 2017, far outpacing growth in the United States. Yet, Agarwal notes, only 10 out of the 182 total signatories of the “Giving Pledge” come from Asia. Low or nonexistent inheritance tax exacerbates the situation, allowing Asians to pass all or most of their wealth to their descendants. Agarwal cites recent research from the U.S. which finds that repealing the inheritance tax for a year led to a decline in charitable giving by US$6 billion. He concludes that the introduction of even a modest inheritance tax could incentivize Asian high-net-worth individuals to donate their growing share of global wealth. (CAPS highlighted the importance of inheritance tax for Asian philanthropy in the 2018 Doing Good Index.

Brookings India releases report on the Indian impact investment landscape. India faces an annual financing gap of US$565 billion towards meeting the Sustainable Development Goals. Impact investment is emerging as one answer: it can help champion innovative ideas in social service delivery, test their effectiveness, and help them scale up. This report from Brookings India surveys market trends and finds that impact investment is beginning to take off. The sector attracted US$5.2 billion from 2010 to 2016 with US$1.1 billion invested in 2016 alone. The report concludes with actionable recommendations for creating an effective social financing ecosystem in India.

THE NONPROFITS

Social donations in China exceed ¥90 billion (approximately US$13 billion) in 2018. Figures from the Chinese Ministry of Civil Affairs have also shed light on the growing importance of online donations for China’s third sector. The 2018 “September 9 Charity Day,” an event backed by internet-giant Tencent, saw 28 million online donors donating ¥830 million (approximately US$120 million) through 20 officially designated online charity platforms. For some major foundations as much as 80% of their donations are now originating from online and social sources. Overall, official figures hold the number of registered charity organizations in China at 7,500 with their net assets totaling ¥160 billion (approximately US$23 billion). 

THE INNOVATORS

Indian clean energy producer raises US$950 million in Asia’s largest green bond sale. Global investors oversubscribed by three times a green bond issued by Greenko Energy Holdings, which currently operates assets totaling 4.2 gigawatts of energy generation capacity and has another 7 gigawatts under construction. The bond sale followed an additional US$329 million commitment from two sovereign wealth funds, Singapore’s GIC Private Limited, and the Abu Dhabi Investment Authority, which itself had come on the heels of a previous infusion of US$495 million by sovereign wealth funds for Greenko to build power storage projects. India has set ambitious clean energy targets: it plans to achieve 175 gigawatts by 2022 and 500 gigawatts by 2030. Meeting these goals is estimated to require north of US$250 billion in investments from 2023-2030.

Who’s Doing Good?

8 July 2019 - 21 July 2019

THE GIVERS

Philanthropist Merle Hinrich helps develop the next generation of Asian leaders in trade. In conversation with CAPS’ Chief Executive Ruth Shapiro for Hong Kong Tatler, Merle Hinrich discusses the importance of scholarships to his philanthropy. The founder and executive chairman of Global Sources established his eponymous foundation in 2012 to promote and build leadership in sustainable trade. Hinrich explains how the Foundation collaborates with scholars, employers, and university faculty to nurture the next generation of global trade leaders. The Foundation involves other companies in designing its scholarship program as well as university faculty in developing education for careers in trade. In the interview, Hinrich ultimately reflects on the importance of company involvement in the education of future employees–a value his foundation embodies through its initiatives.

Blue book on Chinese charity in 2018 released. The Chinese Academy of Social Sciences released the China Blue Book (2019) on July 13. The report is devoted to the history and development of China’s charitable sector. It provides new perspectives, methods, and materials that have been previously leveraged for national reforms related to the sector. The 2018 iteration highlights that the total amount of donations in China is estimated to be ¥112.8 billion (approximately US$16 billion). However, this is a decrease of about 26% in the total amount of social donations since 2017. On the other hand, the report highlights an increase of more than 50% in contribution value of volunteer services from 2017. In documenting the evolving characteristics and trends over the past ten years, this report offers insights into China’s modern philanthropy. 

THE THINKERS

Bill Drayton underscores social entrepreneurship as key to India’s success. Known as the pioneer of social entrepreneurship, Bill Drayton sheds light on social responsibility and “change-makers” in conversation with Forbes India. The founder and CEO of Ashoka comments on how the business and social sectors are experiencing a structural revolution as they grow more interconnected. On the topic of social entrepreneurship in India, Drayton states that “Leading social entrepreneurs are central to India (or any country) succeeding,” and adds, “India has a huge opportunity to be a world leader by adapting an ‘everyone a change-maker’ culture.” According to the article, Drayton underscores that if India can harness the potential of social entrepreneurship, the country will be poised to lead the world in areas like climate change, technology, and health.

THE NONPROFITS

Singapore’s smaller charities to benefit from governance and fundraising training curriculum. Smaller charities in Singapore will soon have access to training opportunities that can help them meet national standards on governance and fundraising. Singapore’s Commissioner of Charities has signed an agreement with the Singapore University of Social Sciences (SUSS) to jointly develop a training curriculum that will equip charities with skills like fundraising, leadership, and volunteer management. This course costs SG$100 (approximately US$75), and 30 participants will join the inaugural program set to start on August 17. The Commissioner of Charities has also issued an annual report template to further assist smaller charities in writing their own annual report. Grace Fu, Singapore’s Minister of Culture, Community, and Youth, highlighted the importance of these initiatives in raising the standard of the charity sector. According to The Straits Times, she noted, “This partnership with SUSS is a step toward raising the capabilities in the sector so that it can serve more beneficiaries and continue to gain public trust.”

THE BUSINESSES

Students in the Philippines gather for the Aboitiz High School Scholars General Assembly and Career Clinic. The Manila Bulletin highlights how the Aboitiz Foundation, the corporate foundation of the Aboitiz Group, has evolved its CSR initiatives “from one-time donations to carefully designed programs that empower its beneficiaries to pursue their aspirations.” Earlier this month, the Aboitiz Foundation held its annual Aboitiz High School Scholars General Assembly and Career Clinic, which convened hundreds of secondary students. This event aims to support high school students by providing lessons related to their post-secondary academic careers. This program, which equips scholars with practical career-related knowledge and coaching, also includes plenary sessions facilitated by guest speakers on topics such as digital citizenship. In addition to programs like this, the Aboitiz Foundation is currently developing and implementing CSR 2.0 projects that are aligned with the Group’s core competencies.

Companies are driving teacher development in India through innovative interventions. Companies have been leveraging digital technology to improve teacher quality and learning outcomes in rural India. Korea-based tech company TagHive designed and piloted a comprehensive off-line digital solution–Class Saathi. The app gives administrators real time access to statistics on teacher performance and analysis of student learning outcomes. Companies outside of the education sector, including Tata Steel, Dell, and Feedback Infra, are also supporting these efforts through their CSR initiatives. For example, Tata Steel developed a Bridge Language Inventory (BLI) app for Odia and Hindi speaking teachers to improve communication with children in Ho and Santhal communities. Tata Steel’s CSR Division has also installed computers in education resource centers and residential bridge courses and has distributed 250 tablets for 125 projects.

Korea’s top steelmaker POSCO raises US$500 million through ESG bonds. Korea’s POSCO announced that it has raised US$500 million by selling ESG (environment, social, governance) bonds. This type of sustainability debt instrument aims to finance corporate activities that improve and advance corporate performance in environmental, social responsibility, and governance areas. Through this bond issuance, POSCO’s CEO Choi Jeong-woo intends to “beef up our renewable energy business and material business for electric vehicle batteries.” It was also stated that the funds will be used to support the growth of the steel industry and other environmental projects. According to the article, “the five-year debt carries an interest rate of 2.874 percent and will be listed on the Singapore Exchange.”

Citibank Taiwan awarded “Best Corporate Social Responsibility Award.” Citibank Taiwan has earned the “Best Corporate Social Responsibility Award,” from Excellence Magazine, for the third year running. In this year alone, Citibank Taiwan has initiated several public welfare initiatives, the most noteworthy being its assistance to the International Paralympics Committee. One of its environmental initiatives involved helping the St. Camillus Long-Term Care Center in Yilan County to install a solar energy system and apply for a Taiwan Renewable Energy Certificate. This system allows the Center to sell produced energy on an energy certificate exchange platform, while reducing carbon emissions by 10 tonnes per year. Citibank also started the “Pathways to Progress” program in 2016, and it has supported skills development for around 800 youths. Over 650 of these young learners have gone on to access education or employment opportunities. According to the Taipei Times, Citibank has been deeply invested in Taiwan for more than 50 years.

THE INNOVATORS

Can venture philanthropy turn on Southeast Asia to clean energy? Philanthropist Eileen Rockefeller Growald is using her family’s money to help the world transition to clean energy. At the AVPN Conference 2019 in Singapore, she shared about the importance of leveraging venture philanthropy to aid the clean energy movement in Southeast Asia. She established the Growald Family Fund with her husband to fund and scale innovative ventures in clean energy. In Southeast Asia, where coal is gaining share in the energy mix, the Fund has also been informing policymakers of the pressing need to switch to clean energy. The Fund’s climate finance director for Southeast Asia, Athena Ronquillo-Ballesteros, stated, “If we are serious about stopping carbon-intensive infrastructure, the finance side of the conversation has to shift significantly.” She added, “We see a big opportunity in working with Asian philanthropists and high-net-worth individuals to create change together.”

Who’s Doing Good?

24 June 2019 - 7 July 2019

THE GIVERS

Alibaba to contribute US$145 million donation to women’s football. The Chinese women’s national football team will receive ¥1 billion (US$145 million) in donations from Chinese online giant Alibaba. Alipay, the mobile payment platform of Alibaba, will fund the bulk of the initiative. Additional contributions will come from the respective foundations of Alibaba co-founders Jack Ma and Joseph Tsai. The donation will be deployed over the coming decade towards injury prevention and treatment, career development of retired players, technical development, coach education, and youth development. According to this Channel News Asia article, the three parties aim to make football “more sustainable and accessible to girls and women across the nation.” Despite underfunding, the Chinese women’s national team has qualified for seven of the eight Women’s World Cups, including this year’s Cup in France. 

East Asia’s young rich redefine the concept of family legacy. A recent report, Passing the Torch: Bridging mindset gaps between high-net-worth generations in Hong Kong, mainland China, and Singapore, highlights a shift in family business and philanthropy. The study, which was conducted by HSBC and commissioned by The Economist, reveals that high-net-worth individuals are giving their heirs flexibility in taking the family business in a new direction. Increasingly, the younger generation is redefining their family legacies through establishing charitable foundations or engaging in new CSR initiatives under the umbrella of their family business. At the intersection of new wealth and new ideas, the younger generation is redefining family legacy as they strive to create long-term social or environmental impact at the helm of their family business.

THE THINKERS

Muhammad Yunus underscores the power of social enterprises run by women and young people. Ahead of a social business event in Thailand, Nobel laureate Muhammad Yunus talks about the impact of social enterprises, especially those run by women and young people. In conversation with the Thomson Reuters Foundation, he highlighted, “Women and young people perhaps understand these problems better because they are most affected by them.” As social entrepreneurship burgeons across the region, some Asian countries including Thailand, Vietnam, and the Philippines have passed legislation or revised laws to support social business ventures. To aid these developments, Yunus highlights the importance of adapting educational institutions and financial systems to encourage entrepreneurship and social business.

Philanthropy is still the backbone of social action. CAPS Chief Executive Ruth Shapiro’s letter in the Financial Times gives insight into the relationship between philanthropy and impact investing. In a recent study, CAPS found that 59 percent and 66 percent of social enterprises in Hong Kong and Japan respectively report receiving philanthropic or government grants. In fact, many social enterprises in Asia depend on philanthropy and government grants as angel investment. Shapiro’s letter is a prelude to CAPS’ upcoming report on effective social enterprise ecosystems in Japan, Korea, Hong Kong, Indonesia, Pakistan, and Thailand, set to be published this fall.

THE BUSINESSES

Prudence Foundation and AVPN announce winners of inaugural Disaster Tech Innovation Competition. Prudence Foundation, the community investment arm of Prudential in Asia, and AVPN launched the Disaster Tech Innovation Competition earlier this year. The competition aims to “leverage technology solutions for disaster prevention and recovery efforts in the region.” The finalists, comprised of both nonprofit and for-profit social purpose organizations, covered markets including Cambodia, Indonesia, Nepal, Bangladesh, the Philippines, and Taiwan. FieldSight, a mobile platform that supports disaster reconstruction activities, won First Prize. According to FieldSight director Justin Henceroth, the mobile platform was first launched in Nepal following the 2015 earthquakes and has since been implemented at 60,000 sites in 16 markets. The organization received a grant of US$100,000 to help fund the implementation and scaling up of its Disaster Tech solution.

Development impact bond (DIB) boosts education in India. The Quality Education India DIB was launched in September 2018 by the British Asian Trust, the Michael & Susan Dell Foundation, the UBS Optimus Foundation, and Tata Trusts, together with local partners. As the largest development impact bond in the area to date, the bond funds initiatives towards improving literacy and numeracy skills for more than 300,000 children in India. According to a recent evaluation, “40 percent of participating schools met or exceeded their targets for literacy and numeracy outcomes compared with non-participating schools.” The Michael & Susan Dell Foundation country director for India highlighted, “The early signs are that outcome-based funding models, with an incentive attached, have the potential to drive quality in education and attract new forms of capital to sustain it.”

Japan’s Suntory joins rival Coca-Cola to encourage plastic recycling in Vietnam. Reuters reports on a new alliance between Suntory, Coca-Cola, and Nestle–the latest in partnerships among global plastics and consumer goods companies. The Japanese beverage giant, Suntory Holdings, plans to switch out pure petroleum-based plastic bottles for bottles made from recycled or plant-based materials by 2030. However, achieving this goal will be challenging due to a lack of sophisticated recycling systems in Suntory’s Southeast Asian markets, such as Vietnam. The alliance, which also includes the local operations of Tetra Pak and NutiFood, will call on the Vietnamese government to, “plan a system spanning collection and facilities for recycling.” This push comes at a time when Vietnam is among the biggest contributors to plastic waste in the ocean. Earlier this month Vietnamese Prime Minister Nguyen Xuan Phuc stated that he wants Vietnam to phase out single-use plastics by 2025, but companies are pushing for large-scale recycling systems in addition to government restrictions on plastic bottles.

THE INNOVATORS

Sustainable investments make up nearly a fifth of rich Asian investors’ portfolios. According to a survey by Standard Chartered Private Bank, high-net-worth (HNW) investors in Asia have increased their allocation to sustainable investments to almost a fifth of their portfolios. The survey covered 416 HNW individuals residing in China, Hong Kong, Singapore, and India with a minimum of US$1 million in investments. Chinese investors are leading as the survey found “a majority of [Chinese] respondents have already allocated between a quarter to half of their funds to sustainable investments.” The study also revealed that in Asia knowledge of sustainable investing among investors has improved by 20 percent from 2018. The top cited motivation among the HNW investors was to “create a better future,” followed by “doing good while earning a profit.” The growing interest and awareness of sustainable investing among HNW investors is an encouraging trend for the region.

Impact investing in Asia to gain as US$15 trillion set to change hands among world’s wealthiest families. Impact investing in Asia has an opportunity to gain from the US$15.4 trillion intergenerational wealth transfer expected to occur over the next decade, according to global wealth researcher Wealth-X. While only US$1.88 trillion of this total is expected to be transferred in Asia, the transfer of wealth will occur amidst a growing ESG sector and growing interest in impact investing. With the younger generation soon to be at the helm of their families’ wealth, this intergenerational transfer is a fruitful opportunity for impact investing to grow. Wealth-X additionally notes that the US$8.8 trillion expected to change hands in Europe and North America bodes well for Asia. Due to friendlier regulatory environments, wealthy investors are increasingly setting up family office branches in Singapore or Hong Kong.

Who’s Doing Good?

10 June 2019 - 23 June 2019

THE GIVERS

Li Ka-shing donates HK$118 million to Shantou University. Every undergraduate attending Shantou University in China will have their tuition paid for thanks to Hong Kong’s richest man. Li Ka-shing established the university in 1981 to aid the development of his hometown of Shantou. His donation of HK$118 million (approximately US$15 million) will grant a full scholarship to every student enrolled in the university for the next four years. The donation will be administered through his eponymous foundation, which he founded in 1980. The Hong Kong billionaire has exhibited great dedication to philanthropy, having donated over HK$20 billion (approximately US$2.5 billion) to schools, hospitals, and universities in 27 countries and regions. Li has stated that he plans to bequeath a third of his wealth to philanthropy and charitable causes.

Indian billionaire Azim Premji’s retirement casts spotlight on private philanthropy in India. Azim Premji announced last week that he will retire from his position as executive chairman and managing director of Wipro. As India’s second-richest person with an estimated net worth of US$22.4 billion, Premji has grown to be an inspiring philanthropist, committing over half of his wealth to philanthropy. Premji was the first Indian to sign The Giving Pledge and has donated US$21 billion to date. While ultra-high-net-worth individuals in India are giving less than they did five years ago, according to Dasra and Bain’s 2019 India Philanthropy Report, Premji is a notable exception. His retirement casts a spotlight on private philanthropy in India and the opportunity for more business leaders and philanthropists to invest their wealth in the social sector.

Japan’s Rugby World Cup mascots call on fans to help disadvantaged children in Asia. ChildFund and World Rugby are partnering for the 2019 Rugby World Cup, which will be hosted by Japan this fall. As part of their Impact Beyond legacy program, the Rugby World Cup’s two mascots will be ambassadors to ChildFund Pass It Back, a sport-for-development organization. Pass It Back has benefited more than 10,000 disadvantaged children across Asia–over half being girls and young women–by integrating life skills curricula with tag rugby. With a pledge of a record £1.5 million (US$1.9 million), the global rugby community and commercial partners for the 2019 Rugby World Cup will enable over 25,000 disadvantaged youth from across Asia to participate in the Pass It Back program.

THE THINKERS

Japan’s social investment funds connect social enterprises to private capital. As interest in social ventures increases among investors, third-party organizations in Japan are stepping in to connect social enterprises with private capital. This includes Kamakura Investment Management, which works to facilitate a cross-sector ecosystem by connecting companies it invests in to social ventures it supports. Kamakura’s flagship mutual fund, Yui 2101, which initially received skepticism from people in the industry, now boasts assets under management of US$340 million from more than 19,000 investors. Another key player working to foster a cross-sector ecosystem is the Japan Social Impact Investment Foundation (SIIF), which invested in Japan’s first health-care social impact bond.

Global Impact Investing Network (GIIN) releases its 2019 Annual Impact Investor Survey. In its ninth iteration, GIIN’s Annual Impact Investor Survey provides data on and insights into the increasing scale and maturity of the global impact investing industry. The report draws on responses from 266 leading impact investing organizations from around the world who collectively manage US$239 billion. The report also includes Asia-specific findings. South Asia is reported to be the second-fastest-growing region of interest among four-year repeat respondents, with 40 percent of all respondents planning to increase their allocations to it. For the array of actors entering Asia’s nascent impact investing industry, this report offers a snapshot of impact investing activity from global counterparts.

THE NONPROFITS

Cambodian nonprofit wins Australian award for film addressing domestic violence. Siem Reap-based nonprofit This Life Cambodia won the “Best Social Media Campaign of the Year” at the Not-For-Profit Technology Awards in Australia. The nonprofit leveraged the power of social media to run its End Violence Together campaign for 16 days in November and December 2018. The campaign included a two-minute film depicting “a world in which women and children weren’t wearing helmets to protect themselves from road accidents, but wore them inside their homes to protect themselves from domestic violence.” According to The Phnom Penh Post, the video went viral and was viewed more than a million times. This Life Cambodia is also a finalist for the global Grassroots Justice Prize.

THE BUSINESSES

Korea’s Amorepacific signs MOU with TerraCycle to recycle empty bottles. Recycling efforts will soon get a boost with an agreement signed between Amorepacific Corporate and global environment company TerraCycle. A memorandum of understanding signed between the two parties in June includes objectives to recycle at least 100 tons of empty plastic bottles annually for three years and to increase the usage of recycled empty bottles for Amorepacific products. Amorepacific is a leading Korean beauty company and has collected 1,736 tons of empty cosmetic bottles over the last 15 years. The company has been running its Greencycle campaign to recycle these empty cosmetic bottles or upcycle them into creative artworks. The company is also currently studying different recycling opportunities to mitigate environmental harm caused by used cosmetic bottles.

Collaboration among stakeholders key to achieving development goals. In the lead-up to the G-20 Osaka Summit, Japan has outlined action plans for achieving the SDGs through regional revitalization, women empowerment, and Society 5.0–a program based on human-centered society, leveraging data, and new technologies. Business leaders have also been vocalizing their support. The Keidanren, also known as the Japan Business Foundation, has updated its Charter of Corporate Behavior to support efforts for achieving the SDGs. The integration of SDG principles and environmental, social, and governance (ESG) factors into business strategies and investments is promising, but the article highlights the need for more collaboration at the global level to achieve the SDGs. At the first SDG Summit in New York this September, the international community will need to discuss progress made and a collaborative way forward.

THE INNOVATORS

Asian banks curb lending to coal plants after pressure from investment funds. Asian banks are stopping loans to coal plants as investors increasingly adopt environmentally conscious investment principles. The latest move came from Japanese bank Mitsubishi UFJ Financial Group in May and banks across Asia, such as DBS and Oversea-Chinese Banking Corporation in Singapore, have also announced similar measures. This is in line with a surge in global investments based on ESG factors, which have reached US$30.7 trillion as of 2018–a 34 percent increase in just two years–according to the Global Sustainable Investment Alliance. George Iguchi of Nissay Asset Management stated, “These three factors [environment, social, and governance] are good indicators of what vision each company has for its business. Businesses with a good vision can generate better returns [that are] sustainable.”

UOB Venture Management expands its impact investing initiative. UOB Venture Management will be launching a new impact fund in the second half this year. Named the Asia Impact Investment Fund (AIIF II), it will continue the Fund’s focus on investment in education, healthcare, and agriculture as well as extend into new areas like clean energy and affordable housing. Deals for the Fund will be assessed based on a company’s ability to scale its business and the company’s impact on low-income communities. UOB Venture Management started the first series of the Fund in 2015 and has invested in nine companies across China, Indonesia, and Myanmar. These companies have strived to improve the lives of low-income communities by including them as consumers, suppliers, or distributors.

Who’s Doing Good?

27 May 2019 - 9 June 2019

THE GIVERS

Donations by Chinese philanthropists up by 50 percent in 2018. According to the China Philanthropy List, released annually by the China Philanthropy Times, the volume of donations by Chinese philanthropists and enterprises hit a record high of ¥27.63 billion (approximately US$4 billion) in 2018. China Daily reported that this is a 50 percent increase from the previous year. Donations were made by 744 philanthropic enterprises and 274 philanthropists, with donations from individual philanthropists totaling ¥9.53 billion (approximately US$1.4 billion). Although the majority of charitable giving in China comes from private corporations, the country’s philanthropy boom has encouraged more wealthy donors to participate. The recent increase in charitable giving by individual philanthropists has also been highlighted in the Hurun Report’s Hurun China Philanthropy List 2019.

Disney in India makes donation to aid Cyclone Fani relief efforts. Disney in India has donated ₹20 million (approximately US$300,000) to aid Cyclone Fani relief efforts. The money will be donated to Save the Children in India to support disaster response and provide resources for affected communities in the Indian state of Odisha. A Disney India representative said this donation will support families affected by Cyclone Fani by providing them with critical shelter. The country manager of Disney and Star India Sanjay Gupta stated, “Our hearts go out to those affected by this severe cyclonic storm Fani. The families and communities impacted by this devastating calamity need our support as they begin to rebuild.” Disney and Star India had also supported disaster response efforts in August 2018, aiding those affected by the Kerala floods.

THE THINKERS

Philanthropy in Singapore goes mainstream. Singapore is one of the top givers among its regional counterparts, and The Business Times article highlights the transformation of the country’s philanthropy landscape over the past few years. Citing CAPS’ Doing Good Index 2018, the article underscores Singapore’s position in the “Doing Well” cluster, leading in the index alongside Japan and Taiwan. Singapore’s favorable tax deduction policies and relatively simple registration process are among several factors which have helped boost the country’s performance in the index. But in the face of persistent social and environmental challenges, philanthropy needs to take a more solutions-focused approach to giving. While the upward trend is promising, philanthropy in Singapore still has room to improve.

Harvard course helps next-generation philanthropists do good. A course titled, “Impact Investing for the Next Generation,” convenes heirs to some of the world’s greatest family fortunes. The course, run jointly by Harvard and the University of Zurich in collaboration with the World Economic Forum, has been equipping next-generation philanthropists to be more impactful since 2015. For some of Asia’s wealthiest millennials, inculcating a culture of impact investing is a formidable challenge. Despite holding one-third of global wealth, Asia only contributes a small portion of its total wealth to impact investing. However, notable alumni, such as Hyundai heir Kyungsun Chung who co-founded Root Impact, have worked to promote a culture of impact investing in Asia since taking the course.

THE NONPROFITS

Myanmar nonprofit to give 10,000 bikes to students in need. Following the collapse of bike-sharing companies ofo and oBike in Singapore and Malaysia, many bikes have been left unused in scrapyards or warehouses. Lesswalk, a Myanmar nonprofit, bought 10,000 bikes from the failed bike-sharing companies to give to students in need. The total cost of buying, shipping, and refurbishing the bikes is between US$350,000 and US$400,000, but half is expected to be paid by sponsors. More than 3,000 bikes have already been shipped to Myanmar to be given to students, and the rest is expected to arrive by the end of June. Lesswalk founder Mike Than Tun Win stated, “This movement is not about buying a new bicycle, which is actually a very straightforward process. It solves a waste problem and gets new bikes for needy children at a cheaper price.”

THE BUSINESSES

Singapore’s Temasek sets up Asia-focused private equity fund for impact investing. Temasek Holdings, a Singaporean investment company, has established ABC World Asia under its philanthropic arm Temasek Trust. Headquartered in Singapore, ABC World Asia is a private equity fund dedicated to impact investing, primarily in South Asia, South-east Asia, and China. Chief executive officer of ABC World Asia David Heng highlighted the opportunities for impact investing in Asia, where the industry is still nascent. Heng stated, “The complex social and environmental challenges in our region present the potential for investors to achieve substantial impact.” The new impact investment fund will allow Temasek Trust to move beyond traditional grant-making to fulfill its mission of “ensuring sustainable funding for the long-term well-being and security of communities.”

Korea’s Hyundai Oilbank promotes culture of philanthropy. Korean petroleum and refinery company Hyundai Oilbank is aiming to promote a philanthropic culture among its staff. Through its 1% Nanum Foundation, more than 95 percent of the firm’s employees donate a portion or one percent of their monthly salary to charitable work. The foundation had raised about ₩11.2 billion (approximately US$9.5 million) in the last seven years to support its expanding number of charitable projects. One of the noteworthy projects, the “1% Nanum Lunch Room,” equips senior welfare centers across Korea with an annual meal plan of ₩50 million (approximately US$45,000). Other initiatives include providing heating oil for low-income families during the winter season and building schools and libraries in Vietnam and Nepal.

The Ritz-Carlton staff and guests raise funds for children with cleft conditions. International hotel chain The Ritz-Carlton raised close to US$450,000 for charities under the Smile Asia alliance. In May, over 10,000 staff and guests of The Ritz-Carlton hotels and resorts across Asia Pacific participated in the sales of over 14,600 cakes. The money raised will go to Smile Asia–a global alliance of independent charities working across Asia–which deploys medical volunteers to provide corrective and reconstructive surgeries for children living in remote areas. This annual fundraising initiative is part of the Smile Asia Week started by The Ritz-Carlton in 2014, and it has garnered great support over the years. In addition to this initiative, staff from the hotel chain can volunteer in medical missions across Asia Pacific.

THE INNOVATORS

China’s new model of blockchain-driven philanthropy. Stanford Social Innovation Review covers the rise of blockchain-driven philanthropy in China, and its role in ensuring transparency and accountability in the social sector. Blockchain enables donors to monitor the entire movement of their money and the platform, monitored by the public, ensures a trustworthy framework. Pioneers in blockchain-driven philanthropy in China include the charity platform of Alibaba’s fintech arm, Ant Love. Since adopting blockchain technology in March 2017, Ant Love has enabled 190 million Chinese individuals to donate US$50.5 million to 799 blockchain-supported projects. The decentralized, autonomous platform is breaking ground in the philanthropic sector as it encourages collaboration and employs community resources to address social challenges. While more oversight is still needed to monitor the people involved and the data that are recorded to the platform, China’s blockchain-driven philanthropy has significantly helped expand the sector’s role in Chinese society.

Indonesia leads by mainstreaming the SDGs in country’s development agenda. Indonesia’s integration of the Sustainable Development Goals (SDGs) into national policies offers lessons for the rest of Asia. The Indonesian government has showcased its commitment to the SDGs by linking them to midterm national plans, aligning national budgets and tax policies with crucial SDGs. Indonesia recently implemented two financial programs in efforts to bridge the gap in financing the SDGs: SDG Indonesia One and Islamic Finance. Employing these two finance programs will help diversify funding sources by tapping into an array of investors. Additionally, the Indonesian government also recognizes the importance of decentralizing the implementation of SDGs across all levels of government and collaborating with key stakeholders to achieve the SDGs by 2030.

Who’s Doing Good?

13 May 2019 - 26 May 2019

THE GIVERS

Lu Weiding named the most generous Chinese philanthropist. Hurun Report released its “Hurun China Philanthropy List 2019,” ranking the most generous philanthropists from Greater China. Lu Weiding, chief executive of Wanxiang Group, tops the list with a single donation of shares worth US$720 million. The donation was made to a charitable trust in memory of his father, Lu Guanqiu, who founded Wanxiang in 1969 and grew it into a multinational conglomerate that is China’s largest auto components company today. Ranked second this year, Chen Yidan, co-founder of Tencent, made a US$500 million gift comprised mainly of Tencent shares. He is followed by Xu Jiayin, chairman of Evergrande Group, who made a US$230 million donation. This year’s list also sees a notable increase in female philanthropists–up to 21 from 13–with Wu Yajun, chairwoman of Longfor Properties, leading with US$20 million in donations.

THE THINKERS

Challenges in measuring China’s nonprofit sector. A pioneering study, Research on the Calculation of NPO-GDP in China, conducted by Professor Ma Qingyu and his team from Beijing Wanzhong Social Innovation Institute (BWSII), aims to measure the burgeoning social sector’s contribution to China’s economy. The findings were presented at an international symposium hosted by BWSII and The Asia Foundation. Lester M. Salamon, a leading global expert on the empirical study of the nonprofit sector, hailed the study as an important step in measuring the economic footprint of the third sector. However, he noted that the definition of the “third or social economy” sector used by Ma, who follows the convention laid by the Chinese Ministry of Civil Affairs, is limiting. It excludes volunteer work, as well as organizations such as social enterprises, cooperatives, schools, and hospitals that earn significant market incomes but do not distribute their profits. Salamon believes that a broader definition of the third sector, detailed in a UN handbook of which he is the lead author, is more commonly used internationally and would make it easier for China to share the story of its sizeable third sector with the world.

The Chinese University of Hong Kong (CUHK) Sustainability Conference explores global trends of circular economy and sustainable finance. The conference, which is organized by CUHK’s MBA students, convened thought leaders and practitioners from both the public and private sectors to discuss growing global trends and recent developments in sustainability. The conference has traditionally focused on corporate philanthropy and company-initiated social services under the umbrella of corporate social responsibility. This year’s iteration also underscored the importance of advancing sustainability efforts and supporting innovative approaches towards creating positive social and environmental impact. Emerging trends in sustainability were discussed, including circular economy, ESG, and green finance, with an aim of nurturing the next generation of sustainability-minded business leaders.

THE BUSINESSES

Alibaba releases inaugural philanthropy report detailing the company’s social impact. Alibaba Group has released its inaugural philanthropy report, which details the company’s philanthropic initiatives and highlights its three platforms: Alibaba Philanthropy, Alipay Philanthropy, and “Each Person Three Hours.” According to the report 440 million individuals across China have used these platforms in the past 12 months, raising over US$184 million in charitable donations. Over 15 million people registered on the “Each Person Three Hours” platform, which lists over 3.05 million volunteer opportunities. In addition to showcasing Alibaba’s integration of philanthropy into each part of its business ecosystem and the company’s encouragement of personal philanthropy by employees, the report also lists several examples of Alibaba’s philanthropic initiatives outside of China. Sun Lijun, head of the Alibaba Foundation, underscored the Group’s commitment to philanthropy, “Here at Alibaba, philanthropy is the core of our business model. Our foremost priority is providing effective and sustainable solutions to problems faced by society.” Since 2011, when Jack Ma founded the Alibaba Foundation and announced a commitment of 0.3% of the group’s annual revenues to social responsibility initiatives, the e-commerce giant has grown to be a leader in corporate social responsibility in China.

Thai company partners with nonprofit Alliance for Smiles to provide surgery for 100 Myanmar children. In celebration of 30 years of their business in Myanmar, Thai oil and gas company PTTEP Myanmar Asset is funding surgeries for children suffering from cleft lip or palate. The initiative is in partnership with Alliance for Smiles, a volunteer-driven nonprofit that offers free comprehensive treatment for children suffering from these conditions in under-served communities. Thanks to PTTEP’s donation of US$100,000, Alliance for Smiles will be able to offer surgery to 100 children in Myanmar. During the signing of the agreement, PTTEP Myanmar Asset’s general manager stated, “We are very pleased with the results of this cooperation with Alliance for Smiles. This benefits not only the individuals but the entire community in the long run.”

Tata Group helps restore damaged power network in wake of Cyclone Fani. While the Odisha government’s speedy evacuation saved the lives of millions, countless homes and power lines were destroyed by Cyclone Fani, one of the strongest storms to hit India in decades. To aid recovery efforts Tata Power sent a team of 25 engineers and technicians from its regular operations to resurrect the power network. Tata Trusts and Tata Projects Community Development Trust are also providing drinking water supplies to affected areas, while Tata Power Solar has distributed over 4,000 solar lanterns to villagers. Praveer Sinha, chief executive officer and managing director of Tata Power, said, “As an integral part of the Tata Group, we always endeavor to stand by the fellow Indians in need. After the global recognition to the country for successfully managing the cyclone, let us all join hands in resurrecting Odisha with our concentrated efforts.”

THE INNOVATORS

Kitkit School and onebillion announced as co-winners of Elon Musk’s US$15 million Global Learning XPRIZE. Launched in 2014, the Global Learning XPRIZE is a competition backed by Elon Musk that challenges teams across the globe to help end global illiteracy. Teams work to design and develop scalable, open-source software solutions that enable self-teaching of basic reading, writing, and arithmetic within 15 months on Pixel C tablets donated by Google. Kitkit school, created by Enuma, a leader in digital early learning based in Seoul and Berkeley, draws on technology and gamification to boost children’s confidence and empower them to be independent learners. onebillion, an educational nonprofit based in London, developed onetab, a learning device that offers onecourse, a comprehensive and modular adaptive learning software that responds to children’s different learning needs. The two winning teams will split the US$10 million Grand Prize sponsored by Elon Musk.

THE VOLUNTEERS

Employees and executives of POSCO gear up for “POSCO Global Volunteer Week.” As part of Korean steelmaker POSCO’s corporate social responsibility, 63,000 employees and executives working in 55 countries will participate in the company’s annual week-long volunteer event serving their respective communities. The volunteer week includes a panoply of community service opportunities such as enhancing energy efficiency, offering free English classes, and building an infirmary. Choi Jeong-woo emphasized the importance of the global volunteer week to the company, “POSCO employees will have the opportunity to share their knowledge and skills to help other members of society prosper.” POSCO announced that this year’s event slogan will be “Share the Talent, Change My Town.”

THE TRUSTBREAKERS

Prosecutors and witnesses describe flow of state funds into Najib’s accounts. The Straits Times reports on developments in the first of five criminal trials against former Malaysian Prime Minister Najib Razak, who faces seven charges related to the 1Malaysia Development Berhdan (1MDB) scandal. The scandal centers on an alleged US$4.5 billion said to have been embezzled from 1MDB, a state investment fund set up under the Najib administration in 2009. Last week, the High Court in Kuala Lumpur heard witness testimonies recounting how fund transfers designated for CSR programs were made under the orders of chief executive of Yayasan Rakyat 1 Malaysia, a charitable foundation that had deployed CSR funding to Ihsan Perdana in the past. Instead, the funds allegedly ended up in Najib’s accounts and may have been used to pay off personal and political expenses. The trial is expected to continue until August.

Who’s Doing Good?

15 April 2019 - 28 April 2019

THE GIVERS

Next-generation Asian philanthropists take an innovative approach to family foundations. Out of 146 countries and territories studied for the Charities Aid Foundation’s World Giving Index 2018, Hong Kong ranked 18th for charitable donations. Hong Kong family charities and foundations have long been generous givers, and the next generation is becoming more engaged and strategic in family giving. Cynthia D’Anjou-Brown, head of philanthropy and family governance advisory services at HSBC Private Banking, states, “Most younger donors don’t want to be seen as a money machine. They want to bring their skills and abilities to the table.” These second- and third-generation philanthropists are moving their family foundations beyond check-writing and underscoring a larger trend of a growing formalization of philanthropy in Hong Kong.

China increasingly a nation of givers through online and mobile platforms. Chinese philanthropy has grown and evolved significantly over the past decade, exemplified by the total amount of domestic giving quadrupling from 2009 to 2017. While a total of US$3.3 billion in public donations have been made by China’s top 100 philanthropists, ordinary individuals have become vital contributors through the expansion of digital payment platforms and artificial intelligence. Through popular online and mobile payment platforms like Alipay, users have easy access to various philanthropic activities including donating second-hand items, donating blood, and planting trees. With this expansion, it is critical that online and mobile platforms improve supervising mechanisms and enhance cross-platform collaboration to strengthen, manage, and prevent crises that could damage public trust in the charitable sector.

THE THINKERS

New report highlights Asia’s growing interest and momentum in sustainable finance. Although Asia historically lags behind global counterparts in social investment, innovations are emerging throughout the region. The past decade has seen more institutional investors broaden their portfolios, governments establish social investment funds and enact supportive legislation, and corporations engage in impact investing and social enterprise mentoring. This momentum is driven by recent developments such as the growth of the green bond market, the issuance of green sukuks, and the support of ESG funds by governments across the region. While Asian businesses, governments, and investors are becoming increasingly sophisticated in their impact initiatives, they must collaborate to address multidimensional challenges and to catch up with more developed markets such as the United States and Europe.

THE NONPROFITS

Hong Kong nonprofits building transitional homes to be exempted land charges. In an effort to lessen the financial burden on nonprofits and to encourage more community-initiated transitional housing projects, the Hong Kong government recently announced that charities that build transitional homes on private plots will be exempted from paying hefty land charges. According to the government statement, HK$2 billion (US$225 million) is also being set aside to support nonprofits in building transitional housing, and concessions will be given for other sites suitable for building transitional homes, such as vacant government sites and disused government premises. In Hong Kong, where the wait for public rental housing can be up to five-and-a-half years, transitional homes play a critical role in providing temporary relief for people stuck in poor living conditions.

THE BUSINESSES

Aloke and Suchitra Lohia speak with CAPS’ Chief Executive, Ruth Shapiro, on the launch of their IVL Foundation. Aloke Lohia, founder and CEO of Indorama Ventures (IVL), transformed a modest family business into a multi-billion-dollar international corporation. In addition to being one of the world’s largest manufacturers of wool, yarn, and polyester, Indorama is also one of the world’s largest recyclers of plastic and leverages its global operations to promote the circular economy. In conversation with Ruth Shapiro for Hong Kong Tatler, Bangkok-based tycoons Aloke and Suchitra Lohia discuss the company’s initiatives supporting education, economic development, women’s empowerment, healthcare, and social enterprises. Through the IVL Foundation, the couple aims to further create meaningful change through strategic philanthropy that amplifies impact and spreads value throughout the company and the communities they work with.

Japan-based Kao Corporation announces new global ESG strategy. Kao Corporation, whose brand portfolio includes Bioré, Goldwell, Jergens, John Frieda, and Molton Brown, recently announced its new global ESG strategy to promote a more sustainable way of living. The corporation’s “Kirei Lifestyle Plan” has set three bold commitments supported by 19 detailed leadership actions for the business to deliver by 2030. Kao aims to build upon the success of past initiatives, such as the adoption of refills and replacement packaging and the development of more compacted formulas, which together reduced the company’s plastic use in its packaging by 93,100 tons in 2018. For five years running, Kao has been selected for inclusion in the Dow Jones Sustainability World Index.

THE INNOVATORS

Jakarta-based investors weigh in on the difference between impact investors and traditional VCs. While tech-focused startups have the potential to create jobs and improve social welfare, there is debate on whether venture funds that invest in these startups should be labeled as social impact funds. There is difficulty in demarcating the boundaries of impact investors and VCs, but some practitioners encourage impact investors to differentiate themselves by justifying why they use that label, providing advice on measuring and monitoring impact, and investing where other people are not to close funding gaps. David Soukhasing, managing director at ANGIN, Tanisha Banaszczyk, investment manager at Convergence Ventures, and Melisa Irene, partner at East Ventures, weigh in on key characteristics that distinguish impact funds from their VC counterparts.

THE VOLUNTEERS

Healthcare workers, caregivers, and volunteers awarded for their work in Singapore. At the 16th Healthcare Humanity Awards organized by The Courage Fund, 83 people were recognized for their work in taking care of the sick and elderly in Singapore. One of the four categories recognizes volunteers who provide care or commit personal time to helping the nominating healthcare, social, and community care organizations. From fundraising by running ultra marathons to helping sailors with physical disabilities, the work of local volunteers was celebrated at the ceremony, and medals and cash awards were given by Singapore’s President Halimah Yacob and Health Minister Gan Kim Yong.

THE TRUSTBREAKERS

Former mosque chairman jailed for siphoning SG$371,000 in donations. A former chairman of a mosque management board in Singapore was sentenced to jail for two years and three months for siphoning around SG$371,000 (approximately US$300,000) from donations over seven years. While delivering the sentence, District Judge Ong Chin Rhu highlighted that the use of the money was perhaps the most controversial aspect, as the former chairman had used some of the donations to pay off personal expenses and donated other large sums to charities for which he worked for and drew a monthly salary from. The judge underscored the detriment of any crime involving the misuse of charity funds and its consequent of public distrust in the charity sector as a whole.

Who’s Doing Good?

8 April 2019 - 14 April 2019

THE GIVERS

GS Group makes US$400,000 donation to help victims of recent Gangwon wildfire. In line with the GS Group chairman’s commitment to corporate social responsibility, GS Group affiliates have been engaging in various partnerships to address social needs. Last year, GS Retail signed a memorandum of understanding with the Ministry of the Interior and Safety to annually donate relief supplies worth ₩50 million (approximately US$40,000) and to transform GS25 convenience stores into emergency shelters during natural disasters. GS Retail quickly responded to the Gangwon wildfire that broke out earlier this month, teaming up with other relief organizations to provide emergency supplies to those who suffered from the wildfire. GS Group made an additional contribution to relief efforts with a ₩500 million (US$400,000) donation to Community Chest of Korea, the country’s largest welfare institution, to support the victims.

Xiaomi founder Lei Jun to give nearly US$1 billion to charity. The founder and CEO of Xiaomi, Lei Jun, is receiving a bonus of more than 636.6 million shares for his eight years of contributions to the company. The Chinese smartphone maker went public in Hong Kong in 2018, and based on the stock’s current price, Lei Jun’s shares amount to approximately US$961 million. Last Wednesday, Xiaomi stated in a regulatory filing that Lei Jun promised to donate all the shares to charitable purposes. This comes weeks after another fresh bequest of shares, worth around US$7.5 billion, was made by Wipro’s chairman, Azim Premji, to his philanthropic initiatives.

THE THINKERS

Indian philanthropy still faces limitations, but leaders in the field can pioneer change. Education programs continue to receive the majority of philanthropic funding in India, and some analysts have suggested that too much philanthropic funding has been going to the education sector to the exclusion of other important social issues, such as violence against women. However, the growing philanthropic infrastructure augurs well for enhanced information about and transparency of the nonprofit sector, allowing for underrepresented nonprofits to access more partnerships and opportunities. Leaders in the field, including academic centers such as The Center for Social Impact and Philanthropy at Ashoka University and prominent foundations such as the Azim Premji Foundation, are positioned to drive the discourse on more inclusive and impactful philanthropy.

THE NONPROFITS

Social impact app, TangoTab, launches at Singapore’s first food bank community event.  Founded in 2012 by entrepreneur Andre Angel, TangoTab is an app designed to serve the food-insecure, and it has donated over three million meals to partners in the United States. TangoTab has partnered with The Food Bank Singapore (FBSG), a registered charity that coordinates food donations with its network of over 300 nonprofits. The app was launched last week at Singapore’s first food bank community event, which fed 1,000 people. Every time a diner checks in to a partner establishment on the app TangoTab will make a donation to FBSG to feed a person in need. As studies show that seven in ten Singaporeans dine out for dinner and one in ten go to bed hungry every night, TangoTab will help the city take a step forward in assisting the food-insecure through its meal-for-a-meal platform.

THE BUSINESSES

Hilton Hotels Malaysia gives back to society. In a recent interview, the regional general manager of Hilton Hotels Malaysia, Jamie Mead, shared details of the group’s CSR initiatives that focus on education, youth development, and going green. Mead also highlighted the focus on functional CSR such as the hygienic recycling system implemented to avoid wasting the thousands of soaps that are thrown away every day. Of the ongoing CSR initiatives, Mead highlights the partnership with SK La Salle 2, Jinjang, to be especially meaningful to him as the close-knit relationships between the children studying at the school and the Hilton Hotels Malaysia volunteers greatly inspired him to continue giving back.

Tata Power trains farmers on sustainable agriculture. Exhibiting its commitment to the social development of local communities, Tata Power, India’s largest power generation company, recently trained over 950 farmers in 42 villages on sustainable farm practices. Under the Sustainable Agriculture Programme, landholding farmers were taught the best agricultural practices for staple crops, vegetables, and cash crops. The program also trained landless farmers to cultivate vegetables in their courtyards through a vertical farming program, helping tribal farmers in remote areas both raise their income and lead a healthier lifestyle with increased access to fresh vegetables.

Tata Trusts and Microsoft partner to empower handloom weaving communities. In an effort to rejuvenate handloom communities in the eastern and north-eastern parts of India, Tata Trusts and Microsoft will leverage each other’s strengths to provide business and communication skills, design education, and digital literacy to handloom weavers. The training will be delivered through Microsoft’s Project Sangam, a cloud solution for large-scale training programs with adaptive streaming and offline-mode learning, which empower communities to learn anytime and anywhere. In partnership with Tata Trusts, Microsoft aims to expand the program to the grassroots level and help weaving communities build a sustainable future. The chief program director of Tata Trusts stated, “Through this initiative, we want to empower artisans and bring them up to par making them competitive in the industry.”

THE INNOVATORS

BPI Foundation searches for promising social enterprises in the Philippines. The social innovation arm of the Bank of the Philippine Islands, BPI Foundation, has announced the launch of BPI Sinag Year 5. To widen the scope of its competition this year, BPI Sinag will hold roadshows in Davao, Iloilo, Pampanga, and Laguna. At each stop, social entrepreneurs will have the opportunity to present a seven-minute business pitch, and the top 40 most promising social enterprises will win an opportunity to participate in a boot camp that will include training on business strategy, marketing, operations, finance, organization, and human resources development. Ten social enterprises with the most promising business viability and social impact will be named as awardees of BPI Sinag, with the top one to five receiving PHP 500,000 (approximately US$10,000) and the top six to ten receiving PHP 100,000 (approximately US$2,000) in grants.

Asia Pacific region found to be the most optimistic on the future of ESG investing. A global survey by BNP Paribas of 347 institutional investors who have US$23 trillion in assets under management found that despite lagging behind other regions on sustainable investing, the Asia Pacific region is the most optimistic on the future of ESG investing. While the survey showed that Asia Pacific institutional investors only allocated 15% of funds to ESG investment, falling short of the 18% global level, over half of Asia Pacific investors stated that they would allocate up to 75% of their funds towards ESG by 2021. As green investment gains traction, the region is also set to see new job opportunities emerge as around 50% of Asia Pacific institutional investors plan to hire external ESG specialists, while only 34% of global counterparts expect to do the same.

THE VOLUNTEERS

Youth volunteers in Bangladesh lead the way on climate action. Bangladeshi State Minister of Youth and Sports, Zahid Ahsan Russel, recently participated in an interactive roundtable, “Youth 2030: Working with and for Young People,” organized by the United Nations in New York. At the event last Tuesday, the state minister commended the nation’s young volunteers, stating, “The youth, especially the volunteers, have been instrumental in Bangladesh’s efforts on disaster risk reduction in early warning of the cyclone and emergency evacuation, effectively reducing deaths and injuries from natural disasters.” The state minister also highlighted the leading role of youth in not only volunteering efforts, but also in taking charge of on-the-ground climate action and social media campaigns against climate change.

未来的回报:高等教育奖学金(摘录)

教育事业十分重要——纵观亚州公益捐助的资源投放取向,这则讯息清晰而明确。

此份摘录的内容取自首份探索亚洲民间设立奖学金的效用研究。这类研究是亞洲公益事業研究中心(CAPS)的专长,研究能够提供即时、有用的资讯给奖学金的捐款者和管理者。

我们的研究证实,奖学金对其获奖者、其社区和国家产生重要的回报。CAPS的研究者发现,一份奖学金平均能改善26人的生活。 获得奖学金的学生不仅能为自己和家人创造更美好的將来,同时也能透过发挥自身领导才能、参与义务工作、或透过公民参与等方式帮助他人、回馈社会。

我们的研究显示,提高高等教育奖学金的影响力并不一定需要改变整个项目。简单的项目微调和增补已可有效地提高项目影响力。透過附录的项目设计工具包,我們希望可以帮助亚洲慈善家、基金会、政府將其奖学金这项投资回报最大化,協助奖学金项目管理者扩大奖学金的正面影响。

Who’s Doing Good?

1 April 2019 - 7 April 2019

THE GIVERS

Korean celebrities give generously to Gangwon wildfire victims. On Friday, President Moon Jae-in declared a state of national disaster over the wildfire that affected the counties of Goseong, Inje, and Sokcho and the cities of Gangneung and Donghae. In the following days, the President designated these areas as a special disaster zone, which funneled in state money to help victims and support recovery, and a number of public figures made donations to support the affected communities. The largest donor was singer IU with a ₩100 million (approximately US$90,000) donation to ChildFund Korea, an international welfare service organization’s Korean arm. Coming from a range of celebrities, including K-pop idols and athletes, donations to victims in Gangwon Province have totaled US$330,000 as of Saturday and have complemented government efforts to respond to the disaster.

Tata Trusts awards 361 scholarships to students of Jammu and Kashmir. A new scholarship program, launched this year by the Tata Trusts, has selected 350 applicants for a two-year scholarship to pursue degree and diploma courses in education. A spokesperson for the Tata Trusts stated, “The Trusts had conducted an exercise to find out which states would benefit the most through support in promoting teaching as a career. Jammu and Kashmir emerged as one of the top choices.” In addition, 11 fine arts students of the University of Kashmir have been selected for the Tata Trusts Students’ Biennale National Award. The Tata Trusts has been supporting higher education since 1892 with the founding of the J.N. Tata Endowment for the Higher Education of Indians, which was featured in CAPS’ report, “Giving Back to the Future: Scholarships for Higher Education.” This new annual scholarship underscores the Tata Trusts’ continued commitment to supporting higher education.

Azim Premji Foundation highlights the Wipro founder’s unwavering support and patience. With a strong belief that education is the fundamental non-violent way to bring about lasting social change, Azim Premji chose education to be a primary beneficiary of his philanthropic initiatives. Out of Premji’s initial dream of starting a liberal arts school in 1997 grew a philanthropic effort of around 2,000 people working in 50 districts across six Indian states and a university dedicated to education and development domains. CEO of the Azim Premji Foundation, Dileep Ranjekar, lauds the Wipro founder’s continued support for the foundation’s work, stating that Azim Premji’s ability to appreciate and accept the inordinately long cycle time for social and educational change has enabled the foundation to work towards its long-term vision of social and educational change across the nation.

THE THINKERS

China’s philanthropy to unlock great potential. China’s philanthropy sector has quadrupled over the last decade, and private wealth has been a critical contributor to this growth. Donations from private companies and corporate foundations have dominated philanthropic giving, followed by affluent individuals and other types of organizations such as government agencies and public institutions. A recent report, published by AVPN and the Rockefeller Foundation, pointed out that the overwhelming share of corporate giving and individual donations in China has been largely stimulated by a rising awareness of social responsibility, favorable corporate tax incentives, and the country’s Charity Law passed in March 2016. While the report cautioned some barriers in China’s philanthropy ecosystem, such as a limited number of intermediaries able to help in sophisticated areas of philanthropy and a lack of data transparency, it expressed optimism as Chinese philanthropy burgeons alongside cutting-edge technology and a thriving digital sector, both of which are sparking a greater public interest in charity.

THE NONPROFITS

Pakistani nonprofit’s CEO named on Forbes 30 under 30 Asia list of social entrepreneurs. The 28-year-old CEO of Seed Out, Zain Ashraf Mughal, secured a spot on the prestigious list of Asia’s top social entrepreneurs. Seed Out, a nonprofit crowdfunding platform that works to eradicate poverty through interest-free micro-financing, has raised over 600 entrepreneurs in four Pakistani cities and put at least 1,600 children into schools. According to the World Bank in Pakistan, 90% of the workforce is highly entrepreneurial but it is estimated that 80% of them cannot apply for a traditional loan. Through Seed Out, donors can support social entrepreneurs through donating or lending to projects listed on the nonprofit’s website, ultimately providing social entrepreneurs the tools, training, and support to bring about innovative solutions to social and environmental issues.

THE BUSINESSES

Citi Foundation and United Nations Development Programme host second Asia Pacific Youth Co:Lab Summit. On April 4th, the United Nations Development Programme and Citi Foundation collaborated with the Ministry of Science and Technology and the Viet Nam Volunteer Center to host the second Asia Pacific Youth Co:Lab Summit in Hanoi. The project is the largest youth-led social entrepreneurship movement driving the implementation of the Sustainable Development Goals. The event brings together over 500 delegates, including hundreds of youth, partners, and government officials from 20 countries, to exchange ideas and experiences and to influence policy initiatives on youth entrepreneurship and social innovation. The initiative has benefitted over 2,500 young social entrepreneurs and has helped launch or improve nearly 500 social enterprises.

THE INNOVATORS

Fourteen young Indian social entrepreneurs make the Forbes 30 under 30 Asia list of social entrepreneurs. While the Forbes Billionaire List 2019 featured Indian business leaders including Mukesh Ambani and Azim Premji, a new cohort of young Indian leaders are being featured for their social-driven initiatives. Forbes Asia has released its annual Forbes 30 Under 30 Asia list, highlighting 300 outstanding individuals from 23 countries and territories in the Asia Pacific region. Fourteen young Indian social entrepreneurs were featured on the Forbes 30 under 30 Asia list of social entrepreneurs for their work, which ranges from collecting unused clothes to making sustainable construction bricks out of plastic waste. These young social entrepreneurs are tackling pressing social and environmental issues facing their communities and are a growing cohort of leaders in the burgeoning social entrepreneurship space.

Global impact investment market rises to US$502 billion. The Global Impact Investing Network (GIIN) conducted a comprehensive study analyzing the size and make-up of the impact investing market and launched their landmark report, “Sizing the Impact Investment Market.” GIIN reports that the global impact investment market is sized to be currently worth at least US$502 billion, which is more than double the US$228 billion reported by GIIN last year in its “2018 Annual Impact Investor Survey.” According to the report, the majority of impact investors are based in developed markets such as the US, Canada, and Europe, and a smaller fraction of investors are based in Asia with 2% of investors in East Asia, 2% in Southeast Asia, and 3% in South Asia. While the impact investment market has grown rapidly over the past decade, there is still a need for trillions of dollars to achieve the Sustainable Development Goals, leaving significant room for the nascent impact investment sector to grow.

Villgro leads the way in supporting social enterprises through public-private partnerships. As India’s oldest and one of the world’s largest social enterprise incubators, Villgro has impacted over 19 million lives through its support for early-stage and innovation-based social enterprises. Since its founding in 2001, Villgro has been an exemplar of social enterprise incubation with its focus on deep sectoral expertise, high-touch mentoring, and public-private partnerships. Villgro has collaborated with the private sector, including Accenture and Rabobank, as well as with local and international governments to expand INVEST, one of the world’s largest social innovation programs. The incubator’s diverse partnerships serve as models for other intermediaries looking to bolster the social entrepreneurship ecosystem in their communities.