Responding to Covid-19: Who’s Doing Good?

28 April 2020 - 11 May 2020

THE GIVERS
Individuals continue to donate cash, services, and supplies to Covid-19 relief efforts.

Hussain Dawood, chairman of Pakistan’s Engro Corporation and Dawood Hercules Corporation, pledged PKR1 billion (approximately US$6.3 million), in services, supplies, and cash to support various organizations in their fight against Covid-19.

Enrique Razon and his group of companies have donated Php 500 million (approximately US$10 million) in medical supplies. The company foundations of both Solarie and International Container Terminal Services have also contributed to other relief efforts, such as creating and retrofitting Covid-19 treatment facilities and donating food.

Senior administrators at Hong Kong’s nine main universities are donating portions of their salaries to Covid-19 relief funds. Presidents and vice-presidents at The Education University of Hong Kong, The Hong Kong Polytechnic University, The University of Hong Kong, Lingnan University, and The Open University of Hong Kong will give 10% of their salary for the next 12 months. The Chinese University of Hong Kong president, along with seven pro vice-chancellors and vice-presidents, will give 15% of their monthly salaries from May to December.

THE THINKERS

CSIS (Center for Strategic and International Studies) Senior Adviser and Trustee Chair in Chinese Business and Economics Scott Kennedy examines the response of Chinese philanthropists to Covid-19. According to data from the YISHAN China Philanthropy Data Center, donations to public charities from late January to April 22 had reached over US$5 billion. The large majority (72%) had come from companies. The article looks at the breakdown of corporate donations to Covid-19 relief efforts by industry, firm ownership, and regional distribution.

Tao Ze, Founder and President of YISHAN, shares his observations on Covid-19 and its effect on the nonprofit sector in China. This includes insights into the impact of the crisis on operations and growth of nonprofits, government support for the sector, and what other countries can learn from China’s social delivery organizations.

THE NONPROFITS
Charities are stepping up their operations and joining forces to serve communities affected by Covid-19.

In 13 states in India, NGOs fed more people than government did during lockdown. According to a reply submitted by the central government to the Supreme Court: 84,260,509 people in India were provided meals during the lockdown that started on March 25. Overall nearly 37% people were fed by NGOs, but in 13 states, NGOs outperformed state governments in providing free meals. In nine states and union territories, NGOs fed more than 75% of the people who were provided meals during the lockdown. In Kerala and Telangana, all meals were exclusively provided by NGOs. To ensure uninterrupted supply of food grains for NGOs carrying out these services, the central government directed the Food Corporation of India to provide wheat and rice to NGOs at the open market sale rates without the e-auction process, which previously was only offered to state governments and registered bulk users.

THE BUSINESSES
Companies are contributing to Covid-19 relief funds and donating needed supplies to affected communities. Companies are also expanding their efforts to aid other countries where they operate.

In Japan, Sony announced that it will manufacture and donate medical face shields to hospitals to make up any shortfall in PPE (personal protective equipment) for healthcare workers. Sony will also help mass produce ventilators designed and developed by Acoma Medical Industry. Toyota, Suntory, Mitsubishi Motors, Teijin, Toray, Kao, Fast Retailing, and Shiseido have also pivoted their production lines or launched new operations to ease the shortage of medical supplies. Daiichi Sankyo announced a US$1 million donation, through the Japan Center for International Exchange, to the Covid-19 Solidarity Response Fund. LINE Corporation and its group companies have set forth 15 different initiatives to support its users in Japan, as well as an array of initiatives for users in Korea, Taiwan, Indonesia, and Thailand. These include facilitating donations, medical consultations, mental health counseling, and more. Mitsubishi Electric announced it will contribute JPY100 million (nearly US$1 million) to support frontline medical workers in Japan and children who are affected by the suspension of school. Eisai, the Japanese pharmaceutical company, is funding and donating PPE to healthcare institutions and organizations in Japan, 10 other Asian countries, the United States, and 8 European countries. 

In Korea, Oriental Brewery (OB) and L’Oreal, through their Korea arms, have contributed to relief funds, conducted volunteer activities, and donated supplies to help fight Covid-19.

In Indonesia, 13 Singaporean companies donated 100,000 masks and five tonnes of hand sanitizer to the city of Batam, where 11 of these companies operate. The effort was organized by Singapore’s Economic Development Board, and donations will go to frontline healthcare workers. Chinese iron and steel company Rockcheck Group and Indonesian conglomerate Rajawali Corpora joined forces and donated over a million surgical masks and gloves, after a previous donation of PPE, to support healthcare workers. The Rockcheck Group has donated 100 million yuan (US$14.1 million) so far to eight countries severely affected by the pandemic.

In Myanmar, telecom operator Ooredoo Myanmar donated over 13,000 pre-loaded SIM cards to regional and state governments to distribute to individuals in quarantine centers. Ooredoo is also providing toll-free call access to Consultation Call Centres for those seeking medical advice or information related to Covid-19. Korea’s SK Energy and SK Trading International have donated 4,000 Covid-19 test kits, worth around US$50,000, to Myanmar. POSCO International also donated 100 virus test kits that can run 10,000 tests to Myanmar’s Ministry of Health and Sports.

In the Philippines, Rizal Commercial Banking Corporation (RCBC) is aiding government relief fund distribution. RCBC was given the authority by the Monetary Board to accept government funds and assist in cash distribution under the social amelioration program for Covid-19. Downstream oil industry companies spent Php180 million (approximately US$3.6 million) through their CSR programs for Covid-19 relief efforts. They also donated PPE and gave free fuel to frontliners. The Philippines arm of Macau’s Suncity Group donated US$1 million worth of PPE to 40 public hospitals in Luzon province. LT Group has mobilized at least Php200 million (approximately US$4 million) worth of internal resources to aid frontline medical workers, healthcare institutions, and military personnel. Alliance Global Group companies have donated over Php603 million (approximately US$12 million) to support the country’s medical workers, NGOs, and impacted communities. It also waived rental charges for tenants in various Megaworld and Lifestyle Malls.

In Hong Kong, the business sector is contributing to the fight against Covid-19. A recent article in South China Morning Post highlights examples from the array of corporate relief measures—from offering financial support to providing hotel rooms and testing kits. Examples include relief efforts from HSBC, Standard Chartered Bank, New World Development’s hotel arm, Pentahotel Hong Kong, and a collaboration between Prudential and Prenetics. Bank of China (Hong Kong), through its BOCHK Centenary Charity Programme, donated HK$50 million (approximately US$6.5 million) to charitable organization Po Leung Kuk to support a total of 31 programs. Bank of China (Hong Kong) also sponsored the distribution of anti-epidemic packs to Po Leung Kuk’s beneficiaries. Hong Kong-based Baring Private Equity Asi (BPEA) announced a US$5 million Covid-19 Relief Fund to support affected communities across the region. BPEA Founding Partner and CEO, along with the firm’s four other investment committee members, will forego and contribute 100% of their annual salaries.

In India, Goodera, a Series B funded startup and India’s largest platform for CSR and employee volunteering, is leading India Inc’s efforts against Covid-19. Goodera has curated a list of real-time needs of medical institutions, NGOs, and state governments to facilitate coordination with companies looking to deploy CSR funds to vetted and approved organizations. Goodera has also enabled its massive network of volunteers to virtually lend management expertise to help NGOs execute projects and scale up their operations. Through its dedicated portal for Covid-19, Goodera has seen over 1 million volunteers sign up, and nearly 250,000 users are actively participating in Covid-19 relief campaigns. With CSR funds going directly to Covid-19, NGOs in India are looking at steep reduction in corporate support. FSG, a social action nonprofit, shares perspectives on how CSR funders and nonprofits in India can navigate funding needs amidst Covid-19. Interviews with 18 CSR leaders and corporate CEOs show that companies are giving to relief efforts—directly or through the PM CARES Fund and chief ministers’ relief funds. However, much of this funding has come from CSR budgets, with the remaining being prioritized for nonprofits addressing Covid-19 issues. This has left nonprofits focusing on other issues uncertain about the funding of their projects. Yet, the question on how to prioritize CSR funding during Covid-19 sees different responses. In Pakistan, the Securities and Exchange Commission of Pakistan (SECP) has advised all listed companies to divert their CSR funds towards fighting Covid-19.

THE INNOVATORS

Promoting resilient social enterprise ecosystems: Cambodian ecosystem enablers are pivoting their operations during Covid-19 to support the country’s entrepreneurs. For example, SHE Investments and Technovation Girls both have moved their accelerators and coaching services for female entrepreneurs online. Impact Hub Phnom Penh has coordinated with the private sector, universities, and ministry partners to run the HacKHtheCrisis virtual hackathon, which brings together different actors who are already working on addressing Covid-19. CAPS partners in Indonesia, PLUS and Instellar, have also moved training programs online in order to keep supporting social enterprise startups during lockdown. In Korea, CAPS partner Underdogs has also introduced online training. 

Precious One, an Indonesian social enterprise, employs disabled crafters for its handicraft business. This video by The Jakarta Post shows how the enterprise has pivoted during Covid-19 to produce cloth face masks and keep their business afloat.

THE TRUSTBREAKERS 

In this section, we usually share stories about scandals that are having negative repercussions for the social sector. With the fear and anxiety surrounding Covid-19, there are some trust-breaking stories circulating from price-gouging to faulty medical supplies. Fortunately, the stories of people being constructive during these times far outnumber them. We look forward to bringing more of these positive stories to you in the coming weeks.

We’d also like to hear from you. How is your organization responding to Covid-19? Email us your stories at research@caps.org

Responding to Covid-19: Who’s Doing Good?

21 April 2020 - 27 April 2020

THE GIVERS
Individuals are funding initiatives that support nonprofits and hard-hit communities.

Kenji Kasahara, founder of Mixi, established the ¥1 billion (approximately US$10 million) “Mitene Fund” to support organizations focused on aiding children and their families affected by Covid-19 in Japan. ETIC, a social sector intermediary and CAPS’ partner for our social enterprise study, is providing administrative support for the fund.

More than 150 investors and startup founders in India pool US$13 million for the “Act Grants” initiative to fund projects that fight Covid-19. The group includes prominent industry figures such as Nandan Nilekani, Vijay Shekhar Sham, and Kalyan Krishnamurthy, as well as investors from dozens of venture capital and private equity firms.

Thai billionaires answer Prime Minister Prayut Chan-o-cha’s invitation to the Kingdom’s 20 richest individuals to set aside funding for the country’s fight against Covid-19. In addition to CP Group’s Chearavanont Family and B.Grimm’s Harald Link, the Osathanugrah Family, which owns Osotspa, is the latest to announce a THB100 million (approximately US$3 million) donation to fund Covid-19 relief efforts. Muangthai Capital’s Chuchat Petaumpai also announced THB110 million (approximately US$3.4 million) in aid, 200,000 relief kits for the jobless, and THB50 million (approximately US$1.6 million) for hospital equipment. Dr Prasert Prasarttong-Osoth, owner of Bangkok Airways and Bangkok Dusit Medical Services, promised THB100 million (approximately US$3 million) for digging ponds and artesian wells in Sukhothai province to help people fight droughts after the pandemic.

Britain’s Prince Charles launched a new Covid-19 emergency appeal fund for India, Pakistan, Bangladesh, and Sri Lanka. Prince Charles announced the initiative in his role as the Royal Founding Patron of the British Asian Trust—a development organization fighting poverty across South Asia.

THE THINKERS

Creative public-private collaborations in Taiwan and South Korea bolster the fight against coronavirus. In the Stanford Social Innovation Review, Yuen Wai Hung, Marina Cortes, and Mara Hansen Staples give insight into how cooperation between public and private actors in these two Asian economies enabled a prompt response to the challenge of distributing urgently needed health products during Covid-19.

THE NONPROFITS
Charities are stepping up their operations and joining forces to serve communities affected by Covid-19.

Just Cause has highlighted key trends on how nonprofits are responding to Covid-19 from conversations with nonprofit leaders in Singapore. These include focusing on vital efforts to keep communities safe, finding news ways of working with communities, seeking flexible support from government and private funders, and investing in building resilience for the future.

THE BUSINESSES
Companies are contributing to Covid-19 relief efforts and donating medical supplies, food and beverages, and other staples to affected communities.

Sony established the US$100 million Sony Global Relief Fund for Covid-19 to support affected communities around the world. Through the fund Sony will provide support by assisting front-line healthcare workers and first responders, supporting children and educators, and supporting members of the creative community in the entertainment industry. US$10 million from the fund will go to the Covid-19 Solidarity Response Fund for WHO.

Rakuten Viber and WHO have joined forces to fight misinformation around Covid-19 through an interactive multi-language chatbot available globally. The bot also features a “Donate Now” button which prompts users to support WHO by donating to the Covid-19 Solidarity Response Fund. 

Japan-based Terumo Corporation is donating US$2.4 million in cash and products to support Covid-19 relief efforts worldwide. This includes a US$1 million donation to the Covid-19 Solidarity Response Fund for WHO. 

Fosun RZ Capital and Alpine Capital, two investors that have been investing in the Indian startup ecosystem, announced a donation of 20,000 Covid-19 testing kits to the country. The donation also saw participation from Fosun Foundation, the philanthropic arm of the Shanghai-based conglomerate Fosun International.

Hodo Group, the Chinese clothes manufacturer, announced that it will donate 1 million face masks to Cambodia to support the country’s fight against Covid-19. Since the outbreak, Hodo Group has refitted some of its assembly lines to produce anti-epidemic supplies, with a daily output exceeding 300,000 masks.

HP announced education partnerships around the world to support students and schools impacted by Covid-19. This includes partnering with Rise in China to build a home education ecosystem and launch an education printer package for students. Aside from these initiatives, HP has contributed US$3 million in grants and US$5 million in product donations to the fight against Covid-19 worldwide.

Unilever Bangladesh pledged BDT200 million (approximately US$2.5 million) to help the country fight Covid-19. The commitment includes donating products, improving public health infrastructure, and protecting the livelihoods of those who work across its value chain. Since the outbreak, Unilever Bangladesh has also donated BDT10 million (approximately US$150,000) worth of hygiene and household products. 

Shinhan Financial Group and Korean bio company Seegene donated 10,000 Covid-19 diagnostic kits and 300 protective suits to the Myanmar Ministry of Health and Physical Education.

Indorama Ventures, a Thai conglomerate, has expanded its Covid-19 relief efforts, including donations of medical equipment, food, and other needed resources to seven more countries: the United States, France, India, Brazil, Lithuania, Poland, and the Czech Republic. This comes after a THB2 million (approximately US$650,000) donation, through the IVL Foundation, to support the Covid-19 response in Thailand.

PepsiCo commits THB18 million (approximately US$600,000) to support Covid-19 relief efforts in Thailand. PepsiCo Thailand, Suntory PepsiCo Beverages Thailand, and the PepsiCo Foundation have partnered with the Raks Thai Foundation to reach the most vulnerable communities through the “Give for Hope” project. The initiative will operate for 3 months to distribute over 1 million meals to communities adversely impacted by Covid-19. It will also provide Covid-19 insurance and health protective items to more than 3,900 farmers and their families, as well as donate medical equipment to hospitals.

Coca-Cola India pledged over ₹100 crore (approximately US$13 million) for the Covid-19 fight. The donation aims to impact 1 million lives across India and includes support for healthcare workers.

THE INNOVATORS

Islamic Finance takes on Covid-19. UNDP outlines how zakat can play an important role by providing short-term emergency support to national and NGO support programs, and how sukuk and waqf can be important sources of capital for long-term recovery and resilience.

Indonesia sees rise in donations, volunteers, and social innovation. The country has seen a number of crowdfunding campaigns launched on local platforms, and by late March, 15,000 medical students from 158 universities had signed up to volunteer. Social innovation is also soaring with tech companies and universities contributing to the country’s fight against Covid-19 through a range of initiatives, from ultraviolet-disinfection booths and disinfectant chambers to robots for monitoring and communicating with Covid-19 patients. Home to a thriving startup and digital sector, Indonesia is also seeing new collaborations between various actors to aid the fight against Covid-19. 

THE TRUSTBREAKERS 

In this section, we usually share stories about scandals that are having negative repercussions for the social sector. With the fear and anxiety surrounding Covid-19, there are some trust-breaking stories circulating from price-gouging to faulty medical supplies. Fortunately, the stories of people being constructive during these times far outnumber them. We look forward to bringing more of these positive stories to you in the coming weeks.

We’d also like to hear from you. How is your organization responding to Covid-19? Email us your stories at research@caps.org

The Palgrave Handbook of Global Philanthropy

Palgrave Macmillan

This publication is a comprehensive guide to the philanthropic sectors of 26 economies, including China, Hong Kong, Indonesia, Japan, Korea, Taiwan and Vietnam. It provides an overview of the landscape of giving, the role that government and religion play, fiscal incentives, and the legal policies that shape philanthropic giving. It also seeks to understand what motivates individuals to give and why the level of giving varies across countries. Read it here.

Social Impact Landscape in Asia

Asian Venture Philanthropy Network (AVPN)

This series of reports documents the landscape for social investment across Asia. Each report maps a country’s socio-economic development context, government initiatives and investment indicators related to the social economy, and notable actors in the social investment landscape. Opportunities, challenges and recommendations for investors and intermediaries are also discussed.

Read it here:

Contextualising CSR in Asia: Corporate Social Responsibility in Asian economies and the drivers that influence its practice

Lien Centre for Social Innovation, Singapore Management University

This report is a two-year inquiry into the practice of corporate social responsibility (CSR) in ten Asian economies. The ten economies covered are: China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Korea, Taiwan and Thailand.

CSR is gaining momentum in Asia as society’s expectations from businesses shift. This report draws on the historical notion of business responsibility and what drives CSR in Asia today, including cultural and societal norms and the role of government. Read it here.

Who’s Doing Good?

19 August 2019 - 1 September 2019

THE GIVERS

Bangladesh set to receive US$22.7 million from UNHCR Refugee Zakat Fund. The United Nations Refugee Agency (UNHCR) launched its Refugee Zakat Fund as a new structure of its zakat program that was founded in 2016. The fund has already surpassed its US$26 million target for 2019, raising just over US$38 million in the first half of the year. Most of this came from donors in the United Arab Emirates, Saudi Arabia, Qatar, the United States, and Egypt. The fund has already disbursed over half a million dollars to benefit 670,000 Rohingya refugees in Bangladesh, which is set to receive a total of US$22.7 million. The UNHCR Director of the Regional Bureau of Asia Pacific noted that Islamic philanthropy has yet to realize its full potential within the global humanitarian sector and underscored the important role zakat can play.

Simon and Eleanor Kwok donate HK$5.2 million to injured jockey Tye Angland. According to Hong Kong Tatler, one of Hong Kong’s most prominent horse racing aficionados, the Kwok family, recently announced a HK$5.2 million (approximately US$700,000) donation to jockey Tye Angland. After a jockeying accident in Hong Kong last November, the Australian suffered career-ending spinal injuries which left him a quadriplegic. In an interview with Sky Sports Radio, Angland responded to the donation with gratitude, noting that it will be going into three different trusts for his children’s education and life expenses. The former jockey has been overwhelmed with support from the racing community and hopes to be a role model for others living with disabilities.

THE THINKERS

Levelling up: shattering myths about philanthropy in Asia. Asia is home to more billionaires now than any other region, and this article explores the intricacies of giving among Asia’s fastest-growing economies. CAPS’ Chief Executive Ruth Shapiro weighs in, noting the difficulties of gathering data in this space as most giving is done through companies and often without proclamation. The article discusses the findings of CAPS’ Doing Good Index 2018, including the trust deficit in the social sector and the important role governments can play. As the region witnesses growing inequality, governments are increasingly looking to private players for support. With more wealth than ever before, Shapiro concludes that Asia has enormous potential to be a world leader in philanthropy.

THE BUSINESSES

The Philippines’ Aboitiz Group supports young robotics enthusiasts. The Aboitiz Group has long supported STEM (science, technology, engineering, and mathematics) education in the Philippines, and it recently reinforced its commitment through the launch of the ‘Kabataan Inyovator: An Aboitiz Robotics Competition.’ The competition aims to encourage innovation in solving community problems through robotics. Together with Davao Light and Power Company, the Aboitiz Foundation led the competition launch on August 12 in Davao City. Pinoy Robot Games offered training sessions on robot programming, and project ideation and evaluation, for 20 Davao City public elementary and high school teams. The winning team will have its prototype deployed in its host community, and represent the Philippines in the World Robot Olympiad in Canada.  

Macronix donates NT$420 million to National Cheng Kung University to build Macronix Innovation Center. Macronix International, a global manufacturer of integrated non-volatile memory components headquartered in Taiwan, has made a generous donation to Taiwan’s National Cheng Kung University (NCKU). The NT$420 million donation (approximately US$13.5 million) will be used to build the Macronix Innovation Center, a historic new space on campus that will leverage the talent of Macronix and NCKU collaboratively. Miin Wu, the founder and chief executive officer of Macronix is an alumnus of the university, where he studied electrical engineering. Macronix hopes the new creative space will foster new talent as well as demonstrate the company’s dedication to corporate social responsibility. The Macronix Innovation Center adds to NUCK’s nine existing schools by housing the School of Computing, modeled after the Massachusetts Institute of Technology (MIT) College of Computing.

THE VOLUNTEERS

Volunteer-based emergency response system offers solution to road traffic accidents in Bangladesh. Featured in Stanford Social Innovation Review, TraumaLink’s pragmatic model shines a spotlight on volunteer-based emergency response systems. In Bangladesh, road traffic injuries (RTIs) are the leading cause of death and disability, with nearly 25,000 road traffic deaths in 2016 according to the World Health Organization. In 2013, TraumaLink co-founders Jon Moussally, an instructor at the Harvard T.H. Chan School of Public Health, and Mridul Chowdhury, CEO of mPower Social Enterprises, introduced a volunteer-based solution. TraumaLink enlists local volunteers, who live or work along the highway, to provide more immediate first aid to RTI victims. As of mid-2019, almost 2,000 patients have been treated by nearly 500 TraumaLink volunteers.

THE INNOVATORS

Thailand’s Bank of Ayudhya to issue first private-sector gender bonds in Asia-Pacific. The IFC (International Finance Corporation) and DEG (Deutsche Investitions und Entwicklungsgesellschaft) have agreed to subscribe to the first private-sector gender bonds in Asia, set to be issued in the amount of up to US$220 million by Thailand’s Bank of Ayudhya. These gender bonds are supported by the Women Entrepreneurs Opportunity Facility, a join initiative of the IFC and Goldman Sachs’ 10,000 Women initiative. Together they aim to increase access to finance for as many as 100,000 women in emerging markets. This inaugural gender bond issuance will help expand credit lines to women-led small- and medium-sized enterprises in Thailand, as well as promote the transparency and integrity of Asia’s nascent social bond market. The Bank of Ayudhya is expected to issue the bonds this October. 

Japan’s MUFG Bank joins ESG wave with new unit. Japan’s Mitsubishi UFJ Financial Group (MUFG) will set up a department specializing in environmental, social, and governance (ESG) funding to develop financial products for companies focused on responsible investing. This sustainable business office will encourage customers to work on ESG issues and provide financing to companies based on ESG ratings and benchmarks. With an aim to improve its ESG performance groupwide, MUFG Bank has already taken concrete steps itself, such as sourcing all power for its Tokyo headquarters from hydroelectric sources. Further, by signing on to the Principle for Responsible Banking which will be launched by the United Nations this month, MUFG Bank will also set publicly disclosed environmental and social impact goals.

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?

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?

21 January 2019 - 27 January 2019

THE GIVERS

India’s most respected business tycoons attend The Economic Times Family Business Awards. At the second annual ceremony, those who received an award shed light on their family businesses’ key to success. Shekhar Bajaj, chairman and managing director of Bajaj Electricals, highlighted the importance of exercising leadership by example. Arun Bharat Ram, chairman of SRF, noted the importance of governance structure and cohesion. Vinati Saraf, managing director and CEO of Vinati Organics, brought attention to the need to recognize the role of women, and her message was echoed by Rafique Abdul Malik, chairman of Metro Shoes. At large, many agreed that giving back to society was a key element to their family businesses, as Yusuf Hamied, chairman of Cipla, stated, “Success doesn’t make a company, an individual, or a family great. What matters is the social contribution.”

THE THINKERS

China’s philanthropy booming alongside the growth of billionaires. From 2010 to 2016, donations from the top 100 philanthropists in China more than tripled, reaching US$4.6 billion. In 2016, the National People’s Congress (NPC) enacted the Charity Law, attempting to add transparency and accountability to the broader social sector. The article also notes that Chinese philanthropic foundations now function more like traditional for-profit enterprises with specialized management teams that operate under strict guidelines. The concept of philanthropy is a cornerstone to Chinese culture, revered throughout Confucian texts, and now, the growing number of billionaire philanthropists is trailblazing a new path for more impactful philanthropic giving by expanding the volumes and areas for charitable support.

President Arif Alvi calls on Pakistani businesses to engage in CSR work. At the 11th International Corporate Social Responsibility Summit and Awards organized by the National Forum for Environment and Health, Pakistan President Arif Alvi highlighted the need for legislating regulations that bind the local corporate sector to commit a minimum of 1% of annual profits to projects in health, education, and social development. Alvi’s message closely resembles and mirrors a trend first set by the Indian government, which requires large companies to spend at least 2% of their profits for CSR.

Bain report on digital philanthropy in China raises six questions for stakeholders to consider when developing digital strategies. Digital philanthropy has grown precipitously over the past decade, and online fundraising platforms have made individual giving easier and more accessible. Beyond the oft-reported Tencent and Alibaba and their control of 90% of China’s online fundraising, new players are diversifying the digital philanthropy landscape, including China’s two largest banks, Bank of China and Industrial and Commercial Bank of China, which obtained approval to operate online donation platforms last year. The report highlights the need to pursue digital opportunities and six key areas organizations should consider when developing their digital strategies.

THE NONPROFITS

Malaysian nonprofit opens “The Big Heart” learning center. The Dignity for Children Foundation (DFCF) was founded in 1998 by Elisha Satvinder and his wife Petrina to educate and train impoverished children and refugee youth in urban Kuala Lumpur. The Sharjah-based Big Heart Foundation, in collaboration with the United Nations High Commissioner for Refugees, organizes the annual Sharjah International Award for Refugee Advocacy and Support. In the 2018 edition last April, DFCF won and received an award of AED 500,000 (approximately US$136,000). At the awards ceremony, Sharjah ruler Sultan Bin Muhammad Al Qasimi donated an additional US$1 million to DFCF, which was used to expand its flagship project, the Urban Youth Education Village, into the organization’s newly opened learning center, “The Big Heart.”

THE BUSINESSES

Google set to fund a 10MW solar farm in Taiwan, its first renewable project in Asia. As the largest corporate buyer of renewable energy in the world, Google is funding a solar farm of 40,000 solar panels in Tainan City to compensate for the energy consumed by its nearby data center. Google has been lobbying the Taiwanese government for years, trying to permit non-utility companies to purchase renewable energy from producers directly. Ultimately, amendments in 2017 to the country’s energy regulations gave the green light for Google’s first renewable project in Asia. While the 10MW solar farm in Tainan City will not measure up to the full consumption of Google’s data center, this renewable project and its preceding lobbying efforts will pave the way for more clean energy projects to come in the region.

US$225 million raised from AC Energy’s maiden green bond issuance will bankroll renewable energy portfolio expansion. The energy platform of the Philippines’ Ayala conglomerate, AC Energy, issued its inaugural senior green bonds, a drawdown from the recently established US$1 billion medium-term note program. The bonds are certified by the Climate Bonds Initiative (CBI), and they will be the first publicly syndicated CBI-certified dollar-denominated green bond in Southeast Asia. On the US$225 million successfully raised, AC Energy chairman, Fernando Zobel de Ayala, expressed, “We are very pleased to see the success of our maiden green bond. This will enable AC Energy to scale up its renewable energy investments in the region.”

THE INNOVATORS

Tata Trusts and New America launch blueprint for blockchain and social innovation. New America’s Blockchain Trust Accelerator and the Tata Trusts publicly announced at the Global Blockchain Business Council their ambitious blueprint for blockchain and social innovation. The blueprint outlines practical examples of blockchain projects that can be translated to the social impact and government technology arena. It also brings attention to efforts on part of governments to embrace blockchain, highlighting ways in which blockchain can contribute to social good, social justice, broad-based economic participation, and enhanced trust in the public square. Blockchain was one of the most cited words at last year’s World Economic Forum, and projects like this blueprint are proving that blockchain is quickly gaining interest and support within the social innovation space as well.

“eMpowering Youths Across ASEAN” workshop fosters the growth of young regional entrepreneurs. The ASEAN Foundation and the Maybank Foundation held a five-day workshop to train 100 Southeast Asian entrepreneurs in program development and field-work. These young entrepreneurs will be implementing pilot programs that provide social and economic benefits and services in Cambodia, Indonesia, and Malaysia. This program was a result of Maybank’s efforts to scale its 2016 program that trained students from top universities in Singapore to a regional level with the goal of empowering the youth and fostering the growth of sustainable development innovation throughout Southeast Asia.