Who’s Doing Good?

2 September 2019 - 15 September 2019

THE GIVERS

US$442 million donated via online platforms in China in 2018. According to a recent report by China Philanthropy Research Institute, Chinese donations to online charity platforms increased nearly 27 percent in 2018 to more than ¥3.17 billion (approximately US$442 million). A total of 20 online platforms attracted donations from 8.46 billion internet users. The report also notes a 34.5 percent increase in the number of registered charitable organizations in China putting the total at 5,620. Guangdong ranks first in the country with 748 charitable organizations, followed by Beijing and Zhejiang.

Donations to earthquake-hit towns in Japan rose sharply in 2018. Through the Japanese government’s furusato nozei (hometown tax donation) system, taxpayers can contribute to their hometowns or other municipalities in return for tax cuts. The Japan Times reports that donations to three earthquake-hit towns in Hokkaido have risen sharply, most notably to Atsuma where they grew 5.4 times from the previous year to over ¥1 billion (approximately US$9 million). The Atsuma Municipal Government intends to channel donations towards reconstruction efforts, among others.

THE NONPROFITS

BRAC, one of the world’s largest charities, charts new path. Founded in 1972, BRAC has grown into one of the world’s largest non-governmental organizations (NGO) with 100,000 full-time staff. According to the The Economist, BRAC lent money to almost 8 million people and educated more than 1 million children across Bangladesh and ten other countries in 2018 alone. NGO Advisor has ranked BRAC as the world’s best charity for the past four years.  However, there are challenges ahead. As Bangladesh’s annual GDP continues to grow and government spending on public services continues to increase, large charities are having to think about where else they can contribute. In response, BRAC is venturing into new directions and shifting to income-generating activities to subsidize its philanthropic activities. The Economist notes that, by charting this new path, BRAC can serve as a model for other charities to follow.  

THE BUSINESSES

Japanese companies lead world in disclosing climate risks. According to the Financial Times, more than 60 Japanese companies threw their support behind the Task Force on Climate-related Financial Disclosures (TCFD) in May, surpassing companies in the US and the UK. Nearly 200 Japanese companies back TCFD measures now. This has been applauded by investors and lenders as a valuable opportunity for obtaining consistent information about companies’ climate risks. The country has also seen a sharp increase in ESG investing. The Global Sustainable Investment Alliance reported that Japan’s ESG investing assets quadrupled from US$474 billion to US$2 trillion from 2016-18. 

China’s Xiamen Airlines vows to support United Nations Sustainable Development Goals. At a recent industry expo, Chairman of Xiamen Airlines (XiamenAir) Zhao Dong confirmed the airline’s commitment to the Sustainable Development Goals (SDGs). In 2017 XiamenAir was the first airline to sign a cooperation agreement with the United Nations  to formally support the SDGs. Since then the airline has adopted a range of measures including providing passengers with sustainable tissues and bamboo cups, and offering digital news services instead of printed newspapers. According to Zhao, XiamenAir has also achieved a 14.8 percent drop in fuel consumption per ton-kilometer, exceeding the global average of fuel efficiency improvement. At the event, the airline committed to continuing its support for sustainable development in the aviation industry. 

Global Reporting Initiative Regional Hub officially opens in Singapore. Global Reporting Initiative (GRI) is an independent international organization that helps businesses, governments, and other organizations understand and communicate their sustainability standards. The organization officially launched its GRI Regional Hub in Singapore earlier this month, adding to six other hubs around the world. The Singapore hub will support ASEAN companies by helping them “identify, manage, and report their most material environmental, social, and governance (ESG) impacts.” The Hub will be headed by Michele Lemmens, a business executive from Tata Consultancy Services.

THE VOLUNTEERS

With the help of 12,000 volunteers, No Food Waste redistributes surplus food to the needy in India. The food-recovery startup, No Food Waste (NFW), was founded in 2014 to redistribute surplus food to the needy in Tamil Nadu. With the support of a network of 12,000 volunteers, NFW now serves an average of 900 people per day. The organization collects surplus food from banquets at social functions, corporate canteens, and hotels. After being notified of a food pick-up, a city-specific NFW coordinator gets their team of volunteers together to collect and distribute the food. Recently, the startup has been working to incorporate more sustainable measures by banning single-use disposable containers and shifting to serving food on plantain leaves. The food-recovery startup has received a number of awards recognizing its work.

THE INNOVATORS

Singapore-based IIX and Korean government agency commit US$1.2 million to accelerate high-impact enterprises in Asia. Impact Investment Exchange (IIX), a global organization that provides funding and support to social enterprises, has announced a new partnership with the Korea International Cooperation Agency (KOICA). IIX and KOICA will jointly contribute US$1.2 million over five years to support 18 social enterprises across South and Southeast Asia. Through its Acceleration and Customized Technical Services (ACTS) program, IIX will select the social enterprises and offer them capacity building and technical assistance to ensure they are investment-ready. The enterprises will also gain access to mentors and over 1,000 accredited investors from around the world. This joint initiative aims to impact the lives of 8 million people.

UNDP and 500 Startups launch accelerator for social enterprises in Indonesia. The United Nations Development Programme (UNDP) and 500 Startups have launched ImpactAim Indonesia, a social accelerator that aims to boost social entrepreneurship in the country. The accelerator will support eight to ten startups that are serving the Sustainable Development Goals (SDGs) through a 10-week program in Jakarta. These startups will receive guidance on impact measurement and gain access to prospective impact investors from around the world. According to the article, ImpactAim hopes to amplify social impact through three main objectives: “growing impact ventures, assessing their contribution to the SDGs, and connecting them to networks and funding opportunities.”

Who’s Doing Good?

5 August 2019 - 18 August 2019

THE GIVERS

Li Ka-shing donates HK$500 million (approximately US$64 million) to The Hong Kong University of Science and Technology (HKUST). Hong Kong’s richest man and notable philanthropist Li Ka-shing is helping establish the city’s first synthetic biology institute through his most recent donation. Synthetic biology is a cross-disciplinary area of research in which genomes are designed and modified to help resolve challenges in life sciences. Advances in the field can impact key areas of human development such as manufacturing, medicine development, and food production. The need for innovations in such areas is urgent: current and future increases in global population are straining resources and necessitate the development of alternatives. Speaking on the occasion, Li underscored the vision behind his gift, “Just as synthetic chemistry and petroleum was central to the 20th Century, synthetic biology and DNA are the technology engines of this century, bringing disruption to traditional manufacturing and new opportunities in the industrialization of biology.”

Mano Amiga Philippines and She Talks Asia co-founder, Lynn Pinugu, discusses why she gives back to society. Lynn Pinugu traces the roots of her philanthropy to a financial crisis her family went through when she was in university. Her writing skills helped her win a journalism competition, which awarded her with a scholarship that supported her studies. She realized that children who lacked basic education would struggle to access such opportunities. After graduating, Pinugu volunteered in Mexico where she came across Mano Amiga, a network of low-cost schools transforming the lives of underprivileged students. She replicated their model in the Philippines in 2008, impacting over seven hundred lives since. Pinugu further expanded her work and founded She Talks Asia to support women in her country who are confined by traditional gender roles. Through She Talks Asia, Pinugu is offering them a safe space to discuss these issues. She concludes that humility and an eagerness to learn have kept her motivated in this journey.

THE THINKERS

Singapore falls quite behind Malaysia in responsible investing, according to Blooomberg. Singapore edges its regional competitor in several metrics such as efficiency and quality of life. In fact, CAPS’ Doing Good Index 2018 found that Singapore is one of Asia’s three economies doing the most to catalyze private social investment—Malaysia ranked a tier below. But a new Bloomberg report finds that fewer asset managers in Singapore have incorporated environmental, social, and governance (ESG) factors into their investment decisions relative to their Malaysian counterparts. In fact, nearly twice as many asset managers in Malaysia have developed their own ESG scoring models as compared to Singapore. These discrepancies, according to Ben McCarron, founder of sustainable finance analysis firm Asia Research & Engagement, are attributable to Malaysia’s clear regulatory push towards responsible investing. As a global center for Islamic finance, Malaysian investors are also more familiar with the use of social factors to guide their investments. Overall, however, Asia still lags behind financial centers in Europe and the United States when it comes to responsible investing.

The Economist Intelligence Unit profiles the impact investing landscape in Asia, the Middle East, and Africa in new report. Commissioned by Standard Chartered Private Bank, the report aims to create knowledge for high-net-worth individuals (HNWIs) on sustainable finance and its intersection with philanthropy. The goal of the study is to help HNWIs decide how to allocate their portfolios to achieve the best return against their requirements. The report—based on desk research and in-depth interviews of eight experts—focuses on Asia, the Middle East, and Africa as these regions are witnessing the highest growth in either receiving or propelling sustainable finance, impact investing, and philanthropy. One of the report’s five main observations concerns definitions: there are often very subtle differences between terms such as impact investing and sustainable investing. The report recommends HNWIs to set clear parameters and objectives to navigate gray areas in the definitions.  

The path to scale is broken for nonprofits. In an opinion piece published by India Development Review, Dhananjay Rohini argues that the support ecosystem surrounding nonprofits may be failing them in their pursuit of scale. Nonprofits often find themselves solving “inherently harder” problems such as those arising out of market failures or weak institutions. Amid these challenges, nonprofits must also bear the high transactional costs of seeking funding for one project at a time. The successful delivery of projects may improve the chances of future funding, but “donor fatigue” could still be an impediment. This situation is quite contrary to the private sector where multiple mechanisms exist for raising funding and where unremarkable but stable companies often succeed in attracting funding. Among the strategies Rohini lays down to alleviate some of these failings are: donors paying the entire costs of programs, and funding large-scale initiatives instead of individual projects. Non-pecuniary support in payroll management, reporting, and HR can also help nonprofits focus on the core problems they seek to solve.   

THE NONPROFITS

Founder of nonprofit helping trafficking victims named among 2019 Class of Asia 21 Young Leaders by Asia Society. Ta Ngoc Van is the chief lawyer at Blue Dragon Children’s Foundation, a nonprofit based in Hanoi which rescues Vietnamese women and girls who fall victim to human trafficking. Van is credited with helping 800 trafficking victims and has provided legal representation to nearly a hundred. Human trafficking affects over 40 million women, children, and men and according to the International Labour Organization, citizens of the Asia Pacific region are twice as likely to be at risk as those of a developed country. The Ministry of Public Security in Vietnam reports that about 80% of human trafficking victims end up in China. According to the article, this is in part due to the country’s gender imbalance, which is seen to exacerbate the issue. Van’s fellow honorees are playing their part in alleviating the region’s challenges through journalism, policy advocacy, and technology among others.  

THE BUSINESSES

KKR’s Global Impact Fund exceeds US$1 billion fundraising goal. The global investment firm, which manages assets worth US$148 billion, announced the Global Impact Fund as its first impact-focused fund in 2018. This new fund employs UN Sustainable Development Goals (SDGs) to guide investment decisions. The actual “investment playbook,” concerning the type, duration, and commitment to value-add, however, remains the same. The Global Impact Fund joins the likes of TPG’s US$2 billion Rise Fund, the world’s largest impact investing pool, and similar funds from Bain Capital and Partners Group. Co-head of KKR Global Impact, Ken Mehlman, states that the fund will allow KKR to access investment opportunities that previously had to be let go due to their size; the new fund will prioritize deals worth US$100 million or below. The fund has already deployed two investments: US$32.4 million in Singapore-based energy-saving company Barghest Building Performance, and about US$510 million in Indian environmental management company, Ramky Enviro Engineers. The latter investment is understood to have been funded in part from the Global Impact Fund and KKR’s 2017 Asian Fund III worth US$9.3 billion.

THE INNOVATORS

Korea’s SK Group developing blockchain donation platform. The donation platform will enable direct, low-cost, and peer-to-peer foreign currency donations that will be settled immediately without requiring any input from external or intermediary institutions. Cross-border money transfers are subject to various fees if sent through traditional intermediaries, and blockchain technology has emerged as a promising solution to the problem. This application of the technology, however, is yet to achieve mainstream approval despite its merits. While no firm deadline has been quoted for the project, SK Group has committed that the platform will be open sourced. Interested developers will be able to replicate the platform and alter parameters such as transaction terms. Donations on the platform will be settled in Korean won through the Social Value Coin (SVC), which will be pegged to the won in a 1:1 ratio. Another token, Social Value Power (SVP), will be distributed as reward to donors at the ratio 1:1000 SVCs (or Korean won).

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?

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.

Who’s Doing Good?

25 March 2019 - 31 March 2019

THE GIVERS

Singaporean government to match donations given to registered charities. From April to March next year, donations to Institutions of a Public Character (IPCs), certified charities in Singapore, will be matched dollar for dollar through the new SG$200 million (approximately US$147.5 million) Bicentennial Community Fund. Each IPC will be entitled to up to SG$400,000 (approximately US$295,000), and the fund will be administered by the National Volunteer and Philanthropy Centre with support from the Ministry of Culture, Community and Youth. “Through the Bicentennial Community Fund, we hope to further encourage all Singaporeans to continue the philanthropic and community self-help spirit of our forefathers, 200 years on and 200 years forward,” said Grace Fu, Minister for Culture, Community and Youth.

THE THINKERS

Asian philanthropists have the potential to fuel the new model of philanthropy. As the Doing Good Index 2018 highlights, Asian philanthropists have the capacity to contribute US$500 billion in charitable giving. With recent economic growth comes the potential for a new era of charitable giving focused on seemingly intractable issues, and China is leading the way as it harnesses the highest number of millionaires engaged in environmental, social, and governance-related investing. As collaboration is strengthening with the development of consortiums and alliances, and a new generation of globally minded and mission-driven rich is taking the helm of the exponential growth in capital, Asia is positioned to fuel a new model of philanthropy that can make the biggest bets in bridging the US2.5 trillion funding gap needed to achieve the 2030 Sustainable Development Goals.

THE NONPROFITS

Hong Kong nonprofit helps residents with disabilities fight prejudice and break into the workforce. In Hong Kong, the poverty rate among people with disabilities in the city is more than twice the level of the general population. CareER, a local nonprofit dedicated to helping students and graduates with disabilities find jobs, is working to break down the barriers facing disabled jobseekers. After a few years working in human resources for multinational companies, Walter Tsui Yu-hang founded CareER in 2013 to help graduates with disabilities find suitable jobs instead of the low-skill work they are usually offered. CareER now has more than 450 members with disabilities and has worked with over 100 employers to create more than 200 jobs. In efforts to keep growing its impact, CarER launched a two-year career development program last week, sponsored by the Hong Kong Jockey Club Charities Trust, which provides occupational skill training, consultation services, and leadership development.

THE BUSINESSES

Support from Alibaba Foundation empowers United Nations (UN) Women flagship programs. Two major initiatives of UN Women—Making Every Woman and Girl Count and Buy from Women—are receiving significant support from the Alibaba Foundation as part of its five-year, US$5 million commitment to UN Women. The Foundation’s contribution will help expand the Making Every Woman and Girl Count program in Asia, which seeks to bring about a radical shift in how gender statistics are used, created, and promoted at the global, regional, and country level. The Foundation’s contribution will also support the Buy From Women digital platform, which empowers women farmers in Liberia and the Democratic Republic of Congo to access new markets and services and increase production and revenues.

Cancer initiative benefits thousands of women in China. ”Make Up Your Life,” a project launched in South Korea in 2008, has provided free cancer-screenings and examinations for 54,000 women in China. Amorepacific, a South Korean cosmetics company, has invested ¥8 million over the past three years in the initiative, and according to a joint report published by China Women’s Development Foundation, free checkups for breast and cervical cancers for underprivileged women has received a positive social return on investment. Each ¥1 (US$0.15) spent in this project turned out a ¥1.52 worth of impact as the initiative effectively raised awareness of such diseases for women in remote areas where medical resources are scared. With enhanced awareness and access to screening, women can take early action for disease prevention and treatment, leading to enhanced general wellbeing of women and their families.

THE INNOVATORS

Female tech boss launches drive to empower women. Virginia Tan, co-founder of Lean in China, announced the launch of Nvying program for WeChat. Nvying is a short video platform for women to share their personal stories and communicate about their work life. The application is designed based on the needs of young women in China. “We wanted to do this because I think the market lacks quality content—there is a lot of entertainment and gossip, but we wanted to set a professional standard to answer some of the questions,” Tan said. According to Tan, the program will start with female users of the messaging platform, but later grow to include men as well.

China’s first charity store steps into 11th year in style. Chinese nonprofit, Roundabout, works to promote the eco-conscious lifestyle of the 3Rs—reduce, reuse, and recycle—with its free pick-up service over Beijing. In addition to this, the company opened China’s first charity distribution store to raise funds for vulnerable social groups (orphans, children with critical sicknesses or physical challenges, women, elderly, and earthquake victims) and to connect those who want help those in need. “We hope to create a charming place where people feel good and have a pleasant experience when they step inside—whether to buy a gift for a loved one or to find something they need—so they would like to come back,” said Charlotte Beckett, the charity’s volunteer director.

THE VOLUNTEERS

Two Cathay Pacific pilots raise money to buy rice for charity Feeding Hong Kong. Through a crowdfunding campaign, two Australian pilots, Glen Clarke, and Matthew Brockman, raised HK$10,000 (US$1,270) to buy rice for Feeding Hong Kong, a local charity that rescues edible food from producers, manufacturers, distributors, and retailers and redistributes it to other charities. Both Clarke and Brockman moved to Hong Kong four years ago, and after fundraising money for Australian foundations, they decided to give back to a Hong Kong charity this year. Clarke and Brockman were inspired to raise money to buy rice for Feeding Hong Kong after spending time at the charity’s warehouse in Yau Tong and noticing a lack of rice among the non-perishable food donations. While their campaign for Feeding Hong Kong extends till June, the duo is already brainstorming more ways to give back to the Hong Kong community.

THE TRUSTBREAKERS

Man held for forging charity commissioner’s signatures. The detection of crime branch in India has arrested a man for forging signatures and stamp of the charity commissioner and preparing bogus documents related to land in Bil village on the Vadodara city’s outskirts. In the process of selling a piece of land he did not actually own, the accused claimed that the land belonged to a temple trust and that he had bought it from them, producing bogus documents with the charity commissioner’s forged signatures and stamp.

Charity laws being enacted in all provinces across Pakistan. With the visiting delegation of the Financial Action Task Force (FATF) in the country on Wednesday, various Pakistani government officials briefed the FATF on steps taken by Pakistan to curb money-laundering. The officials of the National Counter Terrorism Authority (NACTA) were also present on the occasion, briefing the FATF regarding laws on model charities and that laws on charities were being devised in all provinces.

Who’s Doing Good?

18 March 2019 - 24 March 2019

THE GIVERS

Bill Gates lauds Azim Premji for commitment to philanthropy. This past weekend, Bill Gates took to Twitter to acknowledge Wipro chairman Azim Premji and his most recent bequest of 34% of Wipro’s shares, worth about US$7.5 billion, to the Azim Premji Foundation. With this new charitable contribution, Premji has now donated a total of US$21 billion over the past several years to his philanthropic initiatives, making him one of the world’s top philanthropists. Since 2014, the Azim Premji Foundation has supported over 150 organizations engaged in improving the lives of disadvantaged, under-served, and marginalized communities in India. Gates tweeted, “I’m inspired by Azim Premji’s continued commitment to philanthropy. His latest contribution will make a tremendous impact.”

China’s new billionaire class gives rise to philanthropy boom. The 2019 report from the China Philanthropy program at the Ash Center for Democratic Governance and Innovation highlights driving forces that have fueled China’s philanthropy boom, including the country’s recent economic growth and laws and regulations that gradually legitimized and incentivized private giving. While the largest percentage of Chinese donors comes from the real estate sector, the report also highlights prominent Chinese philanthropists, including China’s richest man, Jack Ma, who recently announced he was retiring from his company to focus on education philanthropy. Beyond the givers, China’s maturing philanthropy scene has also spurred the growth of new philanthropic infrastructure, buttressed by intermediary organizations that gather data, facilitate peer learning, and train donors to be more strategic in their giving.

THE THINKERS

Southeast Asian business leaders must step up and invest in development efforts. While economists forecast Indonesia to become the world’s fourth-largest economy by 2050, the country still faces development and public health challenges, such as a high burden of tuberculosis. Dato’ Sri Dr. Tahir, chairman of Mayapada Group and founder of the Tahir Foundation, calls on private sector leaders to recognize their critical role in public health and development in emerging economies in Southeast Asia. While the efforts of a partnership between the Tahir Foundation, the Bill & Melinda Gates Foundation, and the Global Fund to Fight AIDS, Tuberculosis and Malaria and government public health services have helped Indonesia achieve a 44% decrease in TB mortality rates and 14% decrease in TB incidence rates from 2000 to 2017, the private sector can propel these efforts with financial support to expand access for all Indonesians to benefit from these resources and services.

Program trains rural women in India to raise healthier goats and gain financial independence. Extensive research shows that when women have control over finances, they are more likely to spend it in ways that improve the quality of life for their family. In rural India, goat rearing is an important source of income, managed almost exclusively by women, and the money from which is kept in their hands. Project Mesha, which is run by the Aga Khan Foundation and supported by the Bill & Melinda Gates Foundation, trains more than 200 women to be “pashu sakhis” in four communities in Bihar – one of the poorest states in India and home to one of the country’s largest population of goats. By learning how to vaccinate, deworm, and provide other preventative care to goats in their community, women can increase their income by charging small fees for their veterinary services, promoting goat care in their communities, and reducing the loss of income due to the high mortality rate of goats. Through working with local women’s groups, the program aims to increase incomes for 50,000 of India’s poorest women by 30%.

THE NONPROFITS

Hong Kong NGO Leadership Programme nurtures social service network for the future. The nine-month NGO leadership program is a tripartite collaboration between The Chinese University of Hong Kong’s Department of Social Work, UBS, and Operation Santa Claus, one of the largest charitable donation drives in Hong Kong. The program aims to encourage more volunteering, nurture leaders in the social sector, and build a lasting network that will help with collaborative problem solving of social challenges in the future. The winning participant of each year’s program becomes a beneficiary of Operation Santa Claus, and past winners have been granted more than US$102,000 to invest in their service. Last year’s winner was Kenneth Choi Man-kin, the general manager of social enterprise Gingko House. Since its founding in 2015, the leadership program has trained 103 participants from 87 organizations and has helped kickstart numerous social service projects.

THE BUSINESSES

Global Wholesaler METRO to join forces with One Drop Foundation to provide safe water access and sanitation in India. On World Water Day, March 22, international wholesale and food specialist METRO launched the METRO Water Initiative in partnership with the One Drop Foundation. The joint initiative will collaborate with an array of actors on the ground including local governments, civil society organizations, and microfinancing institutions to provide permanent access to sustainable and safe water and sanitation to more than a quarter of a million people in India. The initiative will focus on supporting the northern District of Sheohar, in Bihar, India where nearly half of the region lacks safe water coverage. This project highlights the importance of collaboration as emphasized by Heiko Hutmacher, Chief Human Resources Officer and Member of the Management Board of METRO AG responsible for Sustainability, “By partnering for a common goal, we have the power to change the lives of more than a quarter of a million people for the better.”

Chairperson and CEO of Emperor Watch and Jewellery, Cindy Yeung, talks about the company’s charitable causes.  At the helm of the family business — one of Hong Kong’s most prestigious retailers — Cindy Yeung follows in the footsteps of her father and grandfather by giving back to the community through charitable initiatives with the company. In a recent interview, part of Hong Kong Tatler’s ‘The Next Step’ series that highlights Hong Kong-based philanthropic women, Yeung shares about her early inspiration from her father, Dr. Albert Yeung. Galvanized by his philanthropic work of founding the Emperor Foundation and the Albert Yeung Sau Sing Charity Foundation, she spearheaded new partnerships with charities including Plan International, Chi Heng Foundation, and Project We Can. In efforts to strengthen the company’s commitment to improving the education and health conditions of underprivileged children around the world Yeung also encourages staff to actively participate in their own way.

THE INNOVATORS

How socially responsible investing can help end modern slavery. While socially responsible investing has gained momentum around the world, the practice has focused more on environmental and governance issues, partly due to extensive data and indicators within these two streams. Unlike environmental metrics that have been developed to track global warming and deforestation, social impact metrics are still amorphous and underdeveloped. In the case of modern slavery, the market lacks a standardized set of quantifiable indicators that companies can use as a reporting standard and that asset managers can base their investments on. The development of more robust metrics to track social issues like modern slavery will be pertinent in paving the way for investors to have a more tangible impact, especially in Asia and the Pacific region where 62% of the estimated 40 million victims of modern slavery live.

Impact Investment Exchange (IIX) celebrates its 10-year anniversary with inaugural art competition and exhibition. Singapore-based Impact Investment Exchange, a pioneer in impact investing that focuses on empowering women, is celebrating its 10-year anniversary with its inaugural She Is More Youth Art Competition. The competition, which is headed by the organization’s IIX Foundation, aims to harness the power of art to give voice to women, and it will culminate in an exhibition set to open in May. Durreen Shahnaz, founder and CEO of IIX, highlighted that the event aligns with her vision for IIX, which is to provide “a chance for us to change the narrative of women as victims, to recognize them as solution-builders; to drive women’s empowerment by building opportunities for everyone to value and give voice to women.”

THE VOLUNTEERS

Young volunteers in India are on a mission to feed the poor. Robin Hood Army, a group of more than 270 young volunteers who are largely students and young working professionals, has been collecting surplus food from hotels, restaurants, and wedding halls to feed the hungry. Modeled on the Re-Food program in Portugal, which fights hunger at no-cost, the organization began working in Delhi, India in 2014 as a zero-funds organization – operating with no revenue, office space, or employees. To ensure food is reaching the communities most in need, the Robin Hood Army volunteers conduct location surveys to gauge the need for food, collecting data on the number of family members, the number of children in each family, and the family’s source of livelihood. From last September till now, the group of volunteers has conducted 154 food drives and has fed nearly 30,000 people.

Who’s Doing Good?

11 March 2019 - 17 March 2019

THE GIVERS

Azim Premji boosts total philanthropic commitment to Rs1.45 lakh crore (US$ 21 billion). Last Wednesday, Wipro’s 73-year-old billionaire chairman announced a fresh bequest to his eponymous philanthropic initiatives. Premji stated that he will be giving 34% of his shares in Wipro, India’s fourth-largest software services exporter, to an endowment that supports the Azim Premji Foundation. This new bequest is worth about US$7.5 billion, making his endowment fund one of the five largest private endowments in the world and the largest in Asia. The India Philanthropy Report, which was released by Bain earlier this month, highlighted that India’s proportion of ultra-rich grew by 12%, and Premji’s largesse serves as a model for other ultra-high-net-worth individuals to follow and enhance their philanthropic giving.

K-pop star of the boy band BTS celebrates his birthday with US$90,000 donation. Suga, whose real name is Min Yoon-gi, celebrated his 26th birthday last Saturday with a US$90,000 donation to the Korean Pediatric Cancer Foundation. The nonprofit foundation helps fund treatment and surgery as well as provide emotional and learning support for child cancer patients. The K-pop star presented the donation, along with 329 dolls he personally designed, under the name of “ARMY,” his band’s fan club. Since debuting in 2013, the band has promoted giving back and recently expanded its worldwide anti-violence campaign in partnership with UNICEF. The band has inspired many of its loyal fans to donate to charitable organizations when it is one of its seven member’s birthday.

THE THINKERS

Research highlights public unease about doing social good and making a profit. The British Council’s latest report on social enterprises in Malaysia shows a surge in the number of social enterprises launching in the past five years; however, unfamiliarity with the concept of social entrepreneurship has stemmed the flow of capital into the growing sector. The nascent social enterprise sector, coupled with the lack of an official legal definition, has resulted in a public unease about doing social good and making a profit. While close to all of the social enterprises surveyed for the report said that they plan to grow, the flow of capital was cited as one of the biggest challenges for growth. More education on and awareness of social enterprises will be pertinent in assuaging distrust in profit-making social delivery organizations and encouraging more investment into the burgeoning sector.

Singapore’s finance minister encourages closer partnerships and more donations for building an inclusive society. The Straits Times reported last month that only an estimated five out of 100 people with disabilities are employed, and Singapore’s growing elderly population poses a greater demand for services for people at risk of age-related visual impairment. At a fundraising dinner for the Singapore Association of the Visually Handicapped (SAVH), Finance Minister Heng Swee Keat encouraged volunteers, companies, and donors to forge closer partnerships in building a more inclusive society. He also highlighted the importance of supporting organizations like SAVH to expand their services that improve the lives of the visually impaired. The government aims to also encourage more donations through its Bicentennial Community Fund, an initiative included in the 2019 Budget that will devote SG$200 million (approximately US$150 million) to the dollar-for-dollar matching of donations to registered charities in the coming financial year.

Bangladeshi Prime Minister Sheikh Hasina encourages charitable work to spark social change. Last Thursday, four national celebrities were awarded the Danveer Ranada Prasad Shaha Smarak Gold Medal for their contributions to society: politician and former Pakistani Prime Minister Huseyn Shaheed Suhrawardy, national poet Kazi Nazrul Islam, language movement veteran Rafiqul Islam, and painter Sahabuddin Ahmed. Prime Minister Hasina recalled the contributions of philanthropist Ranada Prasad Shaha, after whom the award is titled, and called others to take up charitable work and engage in philanthropy to propel social change in Bangladesh. As the country celebrated its National Children’s Day this past weekend, Prime Minister Hasina continued to affirm her government’s commitment to ensuring a brighter future for the country’s children through development initiatives.

THE NONPROFITS

Indian government’s regulations on foreign funding of nonprofits results in 40% decline in funds. The Modi government has tightened surveillance on foreign-funded nonprofits regulated under the Foreign Contributions Regulation Act (FCRA), and since 2014, more than 13,000 organizations have lost their licenses. Nonprofits have played an invaluable role in uplifting India’s social sector, and while a recent report by Bain shows an increase in private funding in the social sector, domestic funding in its current state is insufficient compared to the flow of funds from large foreign foundations and international organizations.

Taiwanese environmental group showcases the role of nonprofits as agents of social change. The Ministry of the Interior revealed that there were more than 60,000 nonprofits operating at national and local levels in Taiwan by the end of 2018. One leading Taipei-based nonprofit, Society of Wilderness, is an exemplar of the pivotal role of nonprofits as agents of social change. Since its establishment in 1995, the nonprofit has helped reshape government policies, business practices, and public attitudes around environmental protection and conservation. With 11 branches nationwide, 6,000 paid-up members, 3,000 volunteers, and partnerships with various government agencies, the nonprofit has achieved noteworthy reach and social impact.

THE BUSINESSES

Top Korean conglomerate donates 10,000 air purifiers to elementary, middle, and high schools. In a recent executive meeting, LG Group and its chairman, Koo Kwang-mo, decided to have LG Electronics provide 10,000 large-capacity air cleaners to schools nationwide. In addition, LG will support Internet of Things-based air quality alert services and provide artificial intelligence speakers. The total price of the donation and support services amounts to around ₩15 billion (approximately US$13 million), and this comes after a donation of 3,100 air purifiers to 262 child welfare facilities earlier this year. An LG Group official highlighted the group’s understanding of its role in society and its aim to ensure children and teens have a healthy environment to live and study in.

THE INNOVATORS

Yue-Sai Kan to launch online sustainable fashion training for Chinese executives. Television producer, entrepreneur, and fashion icon Yue-Sai Kan has announced her decision to launch an executive education program in sustainable fashion for Chinese fashion executives. The free online course will be funded jointly by the Yue-Sai Kan China Beauty Charity Fund and WeDesign Group. The program is tailored to executives and professionals of Chinese companies engaged in fashion, beauty, and lifestyle products and services and aims to impart knowledge on necessary tools to integrate strategies that support the environment while growing successful businesses. “Yue-Sai Kan is a visionary who understands that the future of fashion depends on sustainability,” said Simon Collins, co-founder, and CEO of WeDesign, adding that “China will play a very, very important role. It has the scale, the capacity, and the enthusiasm to impact sustainability on a global level.”

THE VOLUNTEERS

A new program in Singapore to encourage youth volunteerism in institutes of higher learning will begin in June. First announced by Minister for Culture, Community and Youth Grace Fu during the 2019 Budget debate, the volunteer training program is the result of a partnership between Youth Corps Singapore (YCS) and various institutes of higher learning. President Halimah Yacob, who is also the patron of YCS, said, “YCS will connect these youth with the larger volunteerism ecosystem to sustain youth volunteerism even after they graduate. Through the program, we hope that the youth will rally more of their peers to give back to society and to continue to volunteer beyond their studies.”

THE TRUSTBREAKERS

Korean animal shelter nonprofit chief grilled over alleged euthanizing of stray pets and other suspected malpractices. Allegations against Park So-yeon, chief executive of the Coexistence of Animal Rights on Earth (CARE), first surfaced two months ago. While her charity ostensibly advocated for animal rights to raise donations, it was revealed that 250 stray pets were euthanized secretly. Police are now questioning Park for the first time since they launched a probe into the allegations two months ago. On top of the alleged euthanizing of stray pets, Park is also suspected of embezzling funds from CARE sponsors and keeping them for her personal use such as real estate purchase and insurance payments. Despite the controversy, Park pledged not to resign from her role, citing “concerns over a power struggle by former workers.” Since the allegations, more than 1,000 sponsors have withdrawn their support.

Former mosque chairman in Singapore admits misappropriating more than SG$370,000 (approximately US$274,000) from donations over seven years. Ab Mutalif Hashim, 58, pleaded guilty to six criminal breach of trust charges, with another eight charges taken into consideration. Alongside his then role as chairman of a mosque’s management board, Mutalif was the executive director of the Just Parenting Association (JPA) which he had set up and president of registered charity Association for Devoted and Active Family Men (ADAM). During this time, Mutalif used mosque donations to pay for the expenses of the ADAM charity, as well as depositing funds into his own account and the JPA’s account in amounts ranging from SG$2,200 (approximately US$1,600) to SG$39,000 (approximately US$29,000). These funds were primarily spent for his personal and household expenses, while the JPA-directed funds are suspected to have covered his own monthly salary of SG$7,000 (approximately US$5,200) as the charity’s executive director.

Who’s Doing Good?

25 February 2019 - 3 March 2019

THE GIVERS

Jhunjhnuwala family shares philanthropic values inspired by late patriarch. Surya Jhunjhnuwala, founder and managing director of the Singapore-headquartered Naumi Hotels, discusses the strong spirit of giving instilled in his family by his late father, Shyam Sundar Jhunjhnuwala. He credits his father for teaching the family that philanthropy is a value to live by and not an afterthought, stating, “It should start from young, and anyone can do it regardless of their status or net worth.” Among the numerous selected causes the family supports, Rita Jhunjhnuwala, Surya’s wife, highlights the family’s commitment to supporting causes with a longer-term effect. The family continues its patriarch’s legacy and passion for education through eponymous initiatives, including the Shyam Sundar Jhunjhnuwala Charity Fund and the S.S. Jhunjhnuwala – Naumi Hotel Bursary at the Singapore Institute of Technology.

THE NONPROFITS

A new nonprofit, Lever for Change, aims to unlock billions of untapped capital for philanthropy through big bet contests. The success of the first iteration of the MacArthur Foundation’s 100&Change competition, a high-stakes philanthropy competition that offers a US$100 million grand prize to only one proposal, has led to the launch of the new nonprofit, Lever for Change. This new competition consultancy will pilot effective competition models that allow funders to place “big bets,” giving millions all to one cause, in an effort to make the biggest impact on one specific solution. Lever for Change is backed by US$20 million from the MacArthur Foundation and US$5 million from LinkedIn founder Reid Hoffman, and several funders have already committed capital to be invested in ideas that are discovered by Lever of Change competitions.

Richard Hawkes from the British Asian Trust highlights three recommendations for charities engaging with social finance. The British Asian Trust, along with their partners, the Tata Trusts, UBS Optimus Foundation, The Michael and Susan Dell Foundation, Comic Relief, the Department for International Development, the Mittal Foundation, and British Telecom, recently launched the largest education development impact bond (DIB) in the world: Quality Education India DIB. Over four years, this DIB will aim to improve literacy and numeracy skills for more than 300,000 children, and ultimately help bridge the financial gap required to meet the UN’s Sustainable Development Goals. Richard Hawkes, chief executive of the British Asian Trust, draws on his experience and encourages development organizations and charities wanting to engage with social finance to focus on patience, clear and realistic goals, and collaboration for success.

Women’s World Banking celebrates 40 years of helping low-income women become financially secure.. As the global nonprofit, Women’s World Banking, celebrates its 40th anniversary, Mary Ellen Iskenderian, the President and CEO, shares stories of the nonprofit’s work that underscore the importance of delivering banking services to low-income women. Women’s World Banking started out working with microfinance banks, but it has since expanded to work with mainstream banks and other businesses focused on distributing products to women in need. Iskenderian, featured on this week’s Business of Giving podcast, highlights the positive impacts of access to finance that the organization has witnessed being at the forefront of the financial inclusion movement for forty years.

Over 80% of social investments in microfinance.. Myanmar received 15 impact-investing deals, which is the second highest number in Southeast Asia, between 2007 and 2017, but received the second lowest amount of capital at US$ 26 million according to a report by AVPN. The report also highlights that 80% of the investments were in microfinance. APVN says that new legislation such as the new Companies Law and moves by the Central Bank of Myanmar to relax collateral requirements will improve financing for SMEs, while the recent wave of impact funds and development finance institutions entering Myanmar will give a boost to the country’s impact-investing market and growing social enterprises.

THE VOLUNTEERS

Beijing’s Palace Museum receives major donation from Hong Kong-based foundation. The NG Teng Fong Charitable Foundation has spent about ¥1.9 billion (approximately US$238 million) on charity programs that focus on healthcare, education, cultural heritage conservation, and environmental protection. Last week, the Hong Kong-based foundation donated ¥100 million (US$15 million) to the Palace Museum in Beijing. Mr. Shan Jixiang, director of the Palace Museum, shared that this donation will be dedicated to restoring the Palace of Prolonging Happiness, or Yanxi Gong, into an exhibition space displaying foreign cultural relics, and it is expected to open in 2020. Part of the foundation’s donation will also be used for a youth exchange programs as well as Hong Kong-related training programs on museum expertise.

THE BUSINESSES

Ctrip CEO, Jane Sun, visits Middle East refugee centers to seek further commitments. As a philanthropist and CEO of Ctrip, China’s largest online travel agency, Jane Sun exhibits a commitment to social responsibility at a global scale. In addition to donating to causes that help children suffering from the effects of war, Ms. Sun leads Ctrip Group in undertaking major philanthropic initiatives. Last year the company supported the CanDo project, which works with children’s hospitals in Syria; the Edesia project, which addresses malnutrition in western African countries; and the Syrian Paralyzed Children project, which provides artificial limbs to children injured in the Syrian Civil War. During this past Chinese New Year holiday, Sun visited refugee centers in Lebanon and Jordan to better understand how to support the region and refugee education in future philanthropic initiatives.

Alibaba Cloud launches Tech for Change initiative for social good. The initiative calls for innovative ideas, and joint efforts from enterprises, startups and young entrepreneurs to tackle global social and humanitarian challenges in areas including education, economic development, and the environment through the use of technology. The initiative reflects Alibaba Cloud’s long-held value of empowering the community through technology. Alibaba Cloud also built a technical philanthropy platform, “Green Code” in 2017 to connect professional IT volunteers with non-profit organizations in China for philanthropy programs. More than 3,000 engineers registered for charity programs from 168 organizations in 2018.

Hurun Rich List: Bezos stays strong on top, while 23 other Indians join the club. The Hurun report, research, media, and investment business best known for its ‘Hurun China Rich List’, a ranking of the wealthiest individuals in China came out with this year’s rankings. Jeff Bezos, founder, and CEO of Amazon made it to the top for a second year. This year also saw Reliance India Limited Chairman, Mukesh Ambani make it to the top 10. The report also highlighted that China lost the maximum number of billionaires – 213, followed by India with 52. Women made up 15.5% of the list, similar to last year’s 15.3%.

Founder’s values play a key role in driving family business philanthropic philosophy. Different family business philanthropy models have emerged over the years, ranging from foundations to corporate social responsibility initiatives. Building off a long tradition of giving, family businesses in India are increasingly pursuing hybrid models, like that of the Tata Trusts, in which families set up a charitable foundation that is funded by dividends from the business. A 2016 report by EY found that the founder’s values play an especially important role in driving family business philanthropy as it brings family members together in supporting their selected cause. While annual lists, like Forbes Asia’s Heroes of Philanthropy, include top Indian philanthropists every year, another trend stands out in India: big philanthropists are usually quiet about their work and impact.