Who’s Doing Good?

3 February 2020 - 16 February 2020

THE GIVERS

Bill & Melinda Gates Foundation increases donation to US$100 million for coronavirus relief efforts. Having initially pledged US$10 million to help combat the novel coronavirus, the Foundation recently announced it is increasing its spending to US$100 million. A statement by the Foundation said that its funds will be used to “find a vaccine for the virus, limit its spread, and improve the detection and treatment of patients.” US$20 million will be immediately directed to groups including the US Centers for Disease Control and Prevention and the World Health Organizations. Funding will also be allocated to public health agencies in China and other affected countries. Prominent business leaders also continue to pledge millions, including Xiaomi CEO Lei Jun who recently contributed US$1.8 million to relief efforts in his home province of Hubei—the epicenter of the outbreak.

THE THINKERS

Encouraging businesses to give back to society. CAPS’ Chief Executive Ruth Shapiro discusses the upcoming Doing Good Index 2020 in The Annapurna Express. The index examines philanthropic environments across 18 Asian economies through the lenses of regulations, tax policies, procurement and societal ecosystems related to private social investment. Shapiro states, “By compiling the DGI, we want to understand what enables the giving and receiving of money and other resources, and what holds it back.” Shapiro also highlights the importance of philanthropy, and how it goes beyond charity, “Philanthropy is more systematic. We are trying to bring about system change instead of a one-off reaction. So philanthropy is a more strategic way to help others.” Doing Good Index 2020, which covers three extra economies (Nepal, Bangladesh, and Cambodia) compared to the inaugural 2018 edition, will be released in Spring 2020.

THE BUSINESSES

Corporate China opens its wallet to fight coronavirus outbreak. Nikkei Asian Review reports on the rise of charitable contributions by Chinese companies amidst the COVID-19 outbreak. Around 130 listed companies have pledged ¥725 million (US$104 million) in cash or in-kind donations, according to a Nikkei Asian Review tally of official disclosures on the Shanghai and Shenzhen stock exchange websites. Some companies are leveraging their global networks to source in-kind donations ranging from masks and protective suits to free meals and drinking water. While companies are driven by a desire to help during uncertain times, the article highlights that over 20 companies have indicated hopes that their donation will help reflect their commitment to social responsibility and raise their social profile.

KKR closes US$1.3 billion global impact fund. The leading global investment firm announced the final closing of the KKR Global Impact Fund at US$1.2 billion. The Fund is “dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.” The Fund is focused on identifying investment opportunities in lower middle market companies that contribute measurable progress towards at least one of the UN Sustainable Development Goals. A KKR partner noted, “We are thrilled to see our investors’ shared enthusiasm for the tremendous opportunity we see ahead for KKR Global Impact and will build on this to help set the new standard across investing, value creation and measuring success in the space.”

THE INNOVATORS

Tech startup Village Link is improving yields for farmers in rural Myanmar. Founded in 2016, Village Link focuses on strengthening Myanmar’s agriculture sector, which is estimated to account for 38% of the country’s GDP. Since agricultural productivity in Myanmar is still relatively low, the tech startup launched an app, Htwet Tow, for farmers to connect and learn from agriculture experts. For example, farmers can upload photos of their crops for a “diagnosis” and receive advice on best practices. The app also connects farmers to distributors and buyers, and offers updates on weather changes, market prices of crops, and best crop cultivation techniques. According to the startup, the app has gained around 46,000 monthly active users as of December 2019 and recently became the first winner from Myanmar in the ASEAN AgTech category at the ASEAN Rice Bowl Startup Awards.

Asian Development Bank (ADB) unveils venture platform to invest in impact technology startups. ADB Ventures will support and invest in startups offering impact technology solutions focused on the Sustainable Development Goals in the Asia-Pacific region. ADB Ventures Investment Fund 1—the facility’s anchor trust fund—has a target size of US$50 million. Unlike traditional venture capital funds, ADB Ventures Investment Fund 1 has a three-year US$12 million technical assistance program through two arms. ADB Ventures SEED is a grant program to de-risk technology pilots and promote expansion into emerging markets. ADB Venture Lab is a suite of corporate innovation programs, industry, and accelerators, which will support these startups and help generate technology pilot opportunities.

THE VOLUNTEERS

Food charities in Singapore get wave of help following appeal. Food banks and other volunteer-run charities are facing challenges amid the COVID-19 outbreak. Singaporean nonprofit Food From The Heart saw 90% of its volunteering sessions cancelled as companies suspended their CSR volunteer programs for employee safety reasons. Monetary donations are also declining in this uncertain climate. The nonprofit Free Food For All estimated a 50% drop in donations received, but its founder said that “asking for donations during this time is a thorny issue.” Luckily, individual volunteers are stepping up to fill this gap. One food charity saw a surge in offers to help from schools, corporations, and even the Singapore Land Authority. Singapore’s National Volunteer and Philanthropy Centre (NVPC) has also set up a centralized platform to “give all donors and volunteers a single point of reference for the most pressing needs during this period of the COVID-19 outbreak.” Here, charities can appeal for volunteers and share their fundraising efforts.

Who’s Doing Good?

20 January 2020 - 2 February 2020

THE GIVERS

Jack Ma donates US$14 million to develop coronavirus vaccine. CNN reports that China’s richest man Jack Ma has donated a total of ¥100 million (US$14.4 million) through his eponymous foundation to help develop a vaccine for the novel coronavirus. The Alibaba founder has earmarked ¥40 million (US$5.8 million) for two Chinese government research organizations, while the remainder will support prevention and treatment measures. Alibaba has also announced a ¥1 billion (US$144 million) fund “to buy medical supplies for Wuhan and Hubei province, the epicenter of the virus outbreak.” According to the China Daily, other Chinese companies are also donating funds and offering measures of support to coronavirus treatment efforts.

Chinese tech giants and global philanthropists donate to help fight coronavirus outbreak. In addition to Alibaba, Chinese tech giants Baidu, Tencent, Huawei, and ByteDance are also offering support to help combat the novel coronavirus. Together, Baidu, Tencent, and ByteDance have pledged ¥800 million (US$115 million) to research new treatments and help authorities in the most-affected areas. Huawei has contributed by supporting the construction of the new Huoshenshan Hospital in Wuhan. Other companies from Chinese sportswear brand Anta Sports to large multinationals in the U.S. and Europe are also joining the effort. The Bill & Melinda Gates Foundation announced that it would commit US$10 million to support first responders in China and Africa, including US$5 million for treatment and vaccine development.

THE THINKERS

Philanthropists save their legacy, but the next generation saves the world, according to new report. A new Campden Wealth report, Global Trends and Strategic Time Horizons in Family Philanthropy 2020, reveals little variation in environmental priority for philanthropists globally. Educational causes remained the biggest beneficiaries of average philanthropic portfolios—with Asia-Pacific families being the biggest allocators to education. But next-gen philanthropists are shifting priorities as they move into decision-making roles in their families’ charities. Campden Wealth’s director of research noted, “Beyond next-gens’ strong influence in the sustainable investment space, they are also set to significantly affect philanthropic giving. This can result in more meaningful funding for certain important causes, such as the environment.”

THE NONPROFITS

Gates Foundation launches new agriculture-focused nonprofit. The Bill & Melinda Gates Foundation Agricultural Innovations, or Gates Ag One, is a new nonprofit subsidiary of the foundation. It will focus on helping smallholder farmers—the majority of whom are women—adapt to climate change. As the president of the Gates Foundation’s Global Growth & Opportunity division noted, “While smallholder farms are highly vulnerable to the impacts of climate change, the private sector is not incentivized to bring promising early-stage discovery to development in sub-Saharan Africa and South Asia.” Gates Ag One will work to not only accelerate agricultural research and development, but also make early-stage discoveries more accessible and affordable to smallholder farmers. 

THE BUSINESSES

SK Chairman Chey Tae-won advocates social value measurement model in Davos. Mr. Chey has advocated corporate social value creation since 2013, when he first proposed the concept at the World Economic Forum in Davos. “It is not an option but an obligation to change the goals and systems of corporate management from the interests of shareholders to those of stakeholders,” Chairman Chey said. At this year’s forum, he discussed SK’s developments in this area including the Group’s social value measurement model, which has been used to measure social value created by social enterprises since 2014 and by SK affiliates since 2018. In addition, SK Group has joined forces with the OECD, World Bank, the world’s four biggest accounting firms, and other companies to form the nonprofit Value Balancing Alliance and develop a standardized measurement model that can be accepted internationally. 

Top Indian companies’ CSR arms join forces to combat climate change. The philanthropic arms of leading Indian corporates announced a new partnership to combat climate change: the India Climate Collaborative (ICC). ICC will work to “strengthen the climate community locally, build a climate narrative, and drive solutions that will ensure both the natural world and people thrive.” The collaborative includes industry leaders such as the Tatas, Mahindras, Godrejs and Premjis. Vodyah Shah, Rohini Nilekani, and Harmendra Kothari are also part of the 40-member collective. Tata Trusts Chairman Ratan Tata had this to say about the ICC, “Our collective leadership through the ICC will indicate to the world that Indian philanthropy is ready to be a leader in climate action.”

THE INNOVATORS

Malaysia urged to make social enterprise scheme simpler. Thomson Reuters Foundation reports on the 22 social enterprises in Malaysia who received accreditation this month through a new government-backed scheme. The accreditation officially recognizes social enterprises and offers tax deductions and access to grants. Entrepreneurs expressed hope that accreditation will help raise awareness among the public and businesses. However, some said the registration process was too cumbersome. Analysts warn that regulations can sometimes have the unintended consequence of hindering the growth of social enterprises. This article urges Malaysia to make its new social enterprise registration simpler and to offer greater financial incentives to boost the growing sector.

IN OTHER NEWS…

Local Red Cross under fire over China coronavirus donations remaining in warehouse. Aljazeera reports on recent allegations against the Wuhan Red Cross and Hubei provincial Red Cross over their distribution of donations. A report from Hubei’s Red Cross revealed that only 200,000 of 2 million masks donated from across China had been delivered to hospitals. It was also revealed that hospitals designated to treat coronavirus-infected patients were receiving fewer supplies than others. A Red Cross official explained their decision, stating that the masks were “KN95” standard rather than the “N95” standard required for frontline medical workers. Wuhan Red Cross is also being questioned about the ¥390 million (US$56 million) cash donations it received, of which only 13% has been spent on supplies. According to the article, Hubei Red Cross later apologized on its official Weibo account, saying it was “deeply regretful” about what had happened. Some hospitals are now only accepting direct donations and bypassing intermediaries.

Who’s Doing Good?

6 January 2020 - 19 January 2020

THE GIVERS

Heroes of Philanthropy 2019: Azim Premji is Asia’s biggest giver. Forbes India released its 13th annual Heroes of Philanthropy list, which honors 30 individuals across the Asia-Pacific region for their philanthropy. The list focuses on individuals who go beyond just donating money and are personally committed to achieving a long-term vision for society. Azim Premji became Asia’s most generous philanthropist in 2019 by donating US$7.6 billion worth of Wipro shares to his eponymous foundation, raising his total lifetime giving to US$21 billion. The list also includes Jack Ma, Kiran Mazumdar-Shaw, and Atul Nishar, among others

Chinese tycoons have a duty to follow Jack Ma into philanthropy, says Asian philanthropist. In this Nikkei Asian Review piece, Chairman of Wahum Group Holdings James Chen shares his journey in catalytic philanthropy to advance eye care solutions in China. Chen calls on China’s business elite to understand the role they can play in growing the economy and addressing social problems via philanthropy. This is especially important as China’s wealthy now outnumber their American counterparts, according to research by Credit Suisse. Mr. Chen underscores that Chinese tech leaders are well-positioned to do more as they have both the skills and capital to drive solutions to the country’s most pressing social issues. 

THE THINKERS

Bangladesh’s dynamic duo battle global health inequity. In his latest Gates Notes, philanthropist Bill Gates profiles Dr. Samir Saha and Senjuti Saha, a father-daughter team working to reduce child mortality in Bangladesh. Senjuti, a microbiologist, works with her father at the Child Health Research Foundation, an organization he helped found. They are using data, state-of-the-art diagnostics, and vaccines to battle infectious diseases and close the gap in healthcare delivery between low-income and high-income countries. Gates gives insight into the impact of their work and the importance of this type of research for Bangladesh and other countries that lack many of the resources needed to diagnose and treat illnesses. 

THE BUSINESSES

Chinese companies get to grips with tougher ESG disclosures. Financial Times reports that authorities in China are urging companies to say more about their environmental, social and governance (ESG) risks, in keeping with President Xi Jinping’s call for the development of “green finance” to attract more foreign investment. Hong Kong’s latest move will require all exchange-listed companies to disclose the board’s consideration of ESG risks, as well as materiality assessments. The stock exchanges of Shanghai and Shenzhen are expected to follow Hong Kong’s lead this year. At the same time, issuers of bonds are also coming under increased scrutiny as foreign investors remain wary of China’s “green bonds.” In the third quarter of 2019, only 40% of green bonds from Chinese issuers were in line with international norms on the use of proceeds, according to the Climate Bonds Initiative, a London-based nonprofit organization. 

Takeda and MIT School of Engineering join to advance research in artificial intelligence and health. The MIT-Takeda Program will support MIT faculty, students, researchers, and staff who are working at the intersection of AI and human health. The program will offer them access to pharmaceutical infrastructure and expertise from Takeda Pharmaceuticals, one of Asia’s largest pharmaceutical companies. It will be housed within the Abdul Latif Jameel Clinic for Machine Learning in Health (J-Clinic), leveraging the combined expertise of both programs, and it will aim to “fuel the development and application of artificial intelligence (AI) capability to benefit human health and drug development.”

THE INNOVATORS

With 3 big exits, 2019 was marquee year for Pierre Omidyar in India, says MD Roopa Kudva. Impact investor Omidyar Network profitably exited three portfolio companies in India this past year. These exits show that social investments can yield high portfolio returns, as managing director Roopa Kudva notes, “The exits we did last year highlight our ability to not just create a social impact, but also make money.” The fund, started by eBay founder Pierre Omidyar, has been investing in India for 10 years now and has deployed US$300 million to date. It intends to invest a further US$350 million over the next five years. While 75% of Omidyar’s investments are in the form of equity, the remaining is given as grants to fund research and social initiatives, such as Teach for India.

Asia-Pacific’s first-ever multi-country listed gender bond series gains new support from the United Nations. Impact Investment Exchange (IIX)’s award-winning Women’s Livelihood Bond Series (WLB Series) has gained new support from the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), United Nations Capital Development Fund (UNCDF), and The Rockefeller Foundation. Private investors in the WLB Series will benefit from first-loss capital provided by The Rockefeller Foundation and a 50% loan portfolio guarantee provided by the United States Agency for International Development (USAID). The Rockefeller Foundation’s managing director notes that this is a prime example of catalytic capital, “where risk-tolerant, impact-prioritizing funding is leveraged to unlock private sector capital.” Through this form of innovative finance, the WLB Series aims to create sustainable livelihoods for over 2 million women across Asia.

IN OTHER NEWS…

Questions raised over charity’s handling of donations after death of Chinese student Wu Huayan. BBC reports on corruption allegations against China Charities Aid Foundation for Children (CCAFC) following Wu Huayan’s death. Charity 9958, a project under the CCAFC, collected US$144,000 in online donations for Ms. Wu’s heart surgery. Official records seem to suggest that just about US$2,900 was paid towards her hospital bills, and according to the BBC article, the surgery never took place. The charity responded saying that it was holding onto the money on her family’s request and that Ms. Wu had not met the criteria needed to undergo the surgery—official media reported that she weighed less than 30kg when she died. As different allegations surface over the issue, BBC gives insight into how past scandals related to the misuse of donations have had negative repercussions for the charitable sector.

Who’s Doing Good?

23 December 2019 - 5 January 2020

THE GIVERS

Charity campaign “Operation Santa Claus” raises HK$9.7 million (approximately US$1.2 million) for 13 Hong Kong charities. Now in its 32nd iteration, the annual campaign offers financial and non-financial assistance to a curated set of beneficiaries. This year’s beneficiaries include social delivery organizations working with children and youth, community, and people with physical and mental disabilities. First-time partner, Hong Kong Stock Exchange, helped launch the campaign in November and contributed HK$500,000 (approximately US$64,000) to its tally. The campaign housed auctions, corporate volunteering, and singing and sporting events.

Thai rock star’s charity run raises Bt$18 million (approximately US$600,000) for regional hospitals. Athiwara “Toon Bodyslam” Khongmalai led more than 20,000 participants in the 10.4-kilometer run held in the Muang district of Chiang Mai. This was part of the “Kao Khon La Kao” charity run campaign spanning nearly 300 kilometers across 5 provinces in total. Donations received during the campaign will help buy medical equipment for seven regional hospitals. Khongmalai, a popular musician, is an active runner for good: his 2215-kilometer run in 2017 amassed donations worth approximately US$45 million for 11 public hospitals, while his 400-kilometer run in 2016 collected approximately US$2 million.

THE THINKERS

Rising public awareness set to buttress philanthropy in China. Researchers from the IMD Global Family Business Center give insight into the past, present, and future of Chinese philanthropy. This article highlights how the nation’s response to the 2008 Sichuan Earthquake galvanized the sector, as the public’s response resulted in a 30-fold increase in charitable giving by the end of 2008. The Center also points to key trends in Chinese giving, such as employing technology as a catalyst for doing good, channeling funds towards historically overlooked areas like climate change, and rising volunteerism. They add that while a lack of trust among the public and poor career prospects are inhibiting the potential of philanthropy in China, rising awareness and more opportunities for giving back augur well for the sector.

Strategic waste management central to sustainable consumption and a pressing challenge for Asia in 2020s. Pat Dwyer, founder and director of The Purpose Business—a network of sustainability consultants—notes that ballooning consumption and lagging strategies on mitigating waste have led to a precarious situation in Asia. According to research from UN Economic and Social Commission for Asia and the Pacific, the region is set to miss all 17 SDGs by 2030 at its current pace. For Dwyer, strategic alignment with this problem is an opportunity no Asian business can afford to waste. Dwyer suggests that businesses play their part by targeting any stage of their product’s lifecycle—from design and production to collection and disposal—to mitigate the problem. Dwyer goes on to highlight emerging examples from the region such as India and Thailand, where plastic waste has successfully been repurposed for road construction. 

THE BUSINESSES

ESG investment starts to gain a foothold in China. Fiona Reynolds, CEO of Principles for Responsible Investment, spotlights the rise of Chinese companies focusing on ESG (environmental, social, and governance) factors. Reynolds highlights that despite China’s slower developments in embracing ESG factors, the country has seen an increase in number of Principles for Responsible Investment signatories—those who agree to invest according to the six ESG-based principles. According to Reynolds, there is great opportunity for ESG to take hold in China over the coming years. In her Nikkei Asian Review article, she points to upcoming regulations that will make disclosure of environmental factors mandatory for 3,000 of China’s listed corporations and primary bond market issuers, as well as other developments that augur well for ESG integration. 

THE INNOVATORS

Results of Hong Kong’s SFC’s Survey on ESG and Climate Change in Asset Management. Hong Kong’s Securities and Futures Commission (SFC) issued the results of its Survey on Integrating Environmental, Social and Governance (ESG) Factors and Climate Risks in Asset Management. Survey respondents included 794 firms active in asset management and 14 asset owners. The results offer a snapshot of the evolving ESG landscape across the Asia-Pacific region, including examples of ESG integration and existing practices in the asset management industry. The results also reveal gaps between the expectations of asset owners and the ways that asset managers are responding, as well as insights into trends that may shape the future of ESG practices in the industry. 

Aavishkaar’s Anurag Agrawal on investing for social change. Aavishkaar Group, founded in 2001, is one of the world’s largest impact investors. Under its equity investment arm—Aavishkaar Capital—the Group has launched six funds across India, Southeast Asia, and Africa. In this interview, the Group’s COO and Partner, Anurag Agrawal, gives insight into what he has learned from his social impact investment journey. Agrawal discusses the nuances of taking a venture capital approach in the social impact field, noting, “We are not investing in the next Google or Uber of the world. We are investing in tried and tested models and taking them to difficult geographies.” Agrawal also shares examples of the fund’s successful impact investments and discusses the fund’s plans for the coming year.

THE VOLUNTEERS

Singaporean companies that give employees time to volunteer. Channel News Asia spotlights companies that offer volunteer leave for their employees. One example is bank UOB, which, in 2019, increased volunteer leave entitlement from two to three days and gave its first employee volunteer of the year award. In the first 11 months of 2019, UOB employees completed 56,000 volunteering hours, a 7% increase from the same period in the previous year. The article highlights other companies that offer volunteer leave, but it notes that such volunteer schemes remain a rarity in Singapore. According to a 2017 survey by the National Volunteer and Philanthropy Centre (NVPC), only 30% of companies that engaged in volunteering offered paid volunteer leave. 

Who’s Doing Good?

10 December 2019 - 22 December 2019

THE GIVERS

UBS Optimus Foundation launches Singapore office. Swiss bank UBS has opened its Singapore office to expand its foundation’s philanthropic offerings in Asia. The new office will engage clients on philanthropic initiatives related to education, health, and child protection. The foundation also has offices in Beijing and Hong Kong, and approximately 40% of its grant making is in the Asia-Pacific region. Chairman of the UBS Optimus Foundation Singapore stated, “We expect unprecedented amounts of wealth in Asia to be transferred across generations over the next 20 years. This will be a significant boost on philanthropy as many entrepreneurs are committed to using their wealth to create a legacy that has a positive social impact.”

THE THINKERS

Tatler asks CAPS Chief Executive to weigh in on the state of philanthropy in Asia. CAPS Chief Executive Ruth Shapiro gives insight into new philanthropic trends in the way people, government, and companies are addressing challenges across the region. Shapiro highlights growing interest in impact investing and support for social enterprises, both of which are examined in CAPS’ newly released study, Business for Good: Maximizing the Value of Social Enterprises in Asia. She notes two trends specific to Asia, public-private partnerships and the role of government, illustrating each with examples from across the region. She also discusses increased commitment to ESG (environment, social, and governance) goals, broadened notions of corporate social responsibility, and other ways in which private sector entities are blurring the lines between profit and purpose. 

THE BUSINESSES

100 female scholars in rural Cambodia complete inaugural Girls Learning & Leading Program.  Japanese cosmetics company Shiseido partnered with The Asia Foundation earlier this year to launch the Girls Learning & Leading Program (GLL). The program aims to empower marginalized young women by offering academic support, soft-skills development, and mentorship. Mentors include local Cambodian leaders as well as senior Shiseido staff, including Jean-Philippe Charrier, president and CEO of Shiseido Asia Pacific. With the success of the first pilot GLL program in Cambodia, Shiseido and The Asia Foundation plan to expand the program to more high schools in Cambodia in 2020, as well as other Southeast Asian countries in the longer term.

Microsoft and Humana People to People launch digital classroom project in India. Development organization Humana People to People India has joined hands with Microsoft, Rajiv Gandhi Shiksha Mission, and the Government of Chhattisgarh to introduce the Digital Learning Programme. Under its school learning component, the program aims to “enhance the learning levels of students through the strategic use of Information and Communication Technology (ICT), while simultaneously developing their critical thinking and creativity.” The adult literacy component of the program aims to “promote and enhance functional literacy among the illiterate adults of both the districts.” The program is launched under the corporate social responsibility arm of Microsoft India, and it will be rolled out in 16 schools in Raigarh and Mungeli districts of Chhattisgarh.

THE INNOVATORS

Moral Money Special Edition: Hiro Mizuno, Japan’s $1.6tn man. Financial Times’ Moral Money interviews Hiro Mizuno, chief investment officer of Japan’s Government Pension Investment Fund (GPIF)—the world’s largest pension fund at US$1.6 trillion. Since his appointment in 2015, Mizuno has helped spark change by moving more largesse into domestic and global equity markets and by embracing ESG principles. In the interview, Mizuno discusses his initiatives for building a healthier investment climate. This includes the GPIF’s announcement earlier this month that it would “stop lending its global equity stocks to short sellers, arguing that it was antithetical to ESG.” 

U2’s Bono unveils blood-by-drone delivery service plan in Philippines. A day before U2 was set to perform in the Philippines, the band’s lead singer Bono announced a new drone-based blood supply delivery service for the Philippine Red Cross. This initiative for on-demand and emergency blood deliveries by drone is a partnership between the Philippine Red Cross and Zipline, an American automated logistics company, of which Bono is a board member. Through this service, health workers can place orders via text message and receive deliveries in about 30 minutes. The blood-by-drone service aims to bridge the delivery gap for millions of Filipinos living in geographically disadvantaged areas. It is expected to launch summer of 2020 with its first of three distribution centers in the Visayas.

Who’s Doing Good?

25 November 2019 - 9 December 2019

THE GIVERS

Forbes announces Asia’s 2019 Heroes of Philanthropy. In its 13th iteration this year, the list honors Asia’s leading philanthropists who are helping solve some of the region’s most pressing challenges through donations and their personal involvement. The unranked list features 30 individuals including Azim Premji from India, Jack Ma from China, and Theodore Rachmat from Indonesia. Broadly, 6 individuals from China, 4 from India, 3 each from Indonesia, Singapore and Australia, and 2 each from Hong Kong, Japan, Korea and Thailand are featured. Korean singer and actress Lee Ji-eun, 26, known by her stage name IU, is the youngest honoree on the list.

Seal of Love Charitable Foundation donates HK$40 million (approximately US$5 million) to Hong Kong University of Science and Technology (HKUST). The gift, channeled into the “Seal of Love Foundation Innovation Service Fund,” is aimed at empowering HKUST students to solve real-world problems through innovation and technology. The fund’s first donation is to the pre-existing Student Innovation for Global Health (SIGHT) project, which has been devising creative and affordable solutions to global health issues since 2014. Inventions by SIGHT include a mobile electronic health record system for slums and rural areas in Cambodia and Ghana. The Seal of Love Charitable Foundation was established in 2010 by Lawrence Chan, the heir to Chan Chak-Fu, a pioneer in the global hotel industry.

THE THINKERS

Asia home to the majority of people fleeing ‘climate chaos,’ Oxfam study finds. The study examines the number of people displaced within their home countries by climate-fueled disasters between 2008 and 2018. While the study looks at the impact of ‘climate chaos’ globally, it offers timely insight into displacement finding that 80% of all people forced from their homes by weather disasters over the last decade were in Asia. The report also finds that people are three times more likely to be displaced by environmental disasters (such as cyclones, floods, or fires) than by conflicts. Large populations in some Asian countries, such as the Philippines and Sri Lanka, live in areas threatened by cyclones or flooding. For example, this past May, Cyclone Fani alone led to the displacement of 3.5 million people in Bangladesh and India.

THE NONPROFITS

Piramal Foundation and Gates Foundation join hands in tribal health collaborative. The partnership leverages support from the Gates Foundation and other stakeholders including the Indian government to achieve SDG 3, “ensure healthy lives and promoting well-being for all at all ages.” India’s tribal communities are home to more than 150 million people and have poorer health standards than the national average. For instance, the average maternal mortality rate in India is 130 per 100,000 births while it can be as high as 230 deaths per 100,000 in tribal communities. The goal of the partnership is to build a high-performing and sustainable health ecosystem to address the needs of these marginalized populations. Speaking at the occasion, Bill Gates, co-chair of the Bill & Melinda Gates Foundation said, “Given the complexity and magnitude of the problem, we believe that partnerships with like-minded, values-based organizations such as Bill & Melinda Gates Foundation, that seek to complement the Government’s efforts, will provide the much needed impetus.”

THE INNOVATORS

Hong Kong millennials are investing family wealth sustainably, but the learning curve can be steep. Young heirs of family wealth want their money to do more than just generate returns—they want to make a difference. But doing so has not been straightforward. According to Michael Au, the managing director of District Capital, “One of the hurdles is the lack of advisers who understand the contemporary impact investing dialogue from an Asia perspective.” On the other hand, Ronnie Mak, the managing director of RS Group, states that they have been able to build and manage a fully sustainable portfolio and achieve a net annual return of 5 percent over the last 10 years. The old-guard is viewing these experiences with caution, according to Au, since they continue to believe that generating returns and doing good are mutually exclusive. CAPS’ newest report, “Business for Good: Maximizing the Value of Social Enterprises in Asia” challenges this perception. Viewing social enterprises as a critical vehicle for doing good, it offers actionable strategies to investors and philanthropists to maximize their impact.

World Bank’s catastrophe bonds provide US$225 million cover to the Philippines for dealing with natural disasters. Two tranches of the catastrophe-linked bond (CAT bond), the first of its kind, were released last week. The bond will provide immediate liquidity and insurance cover to the Philippines for three years. Issued by the International Bank for Reconstruction and Development, up to US$150 million will be channeled towards tropical cyclone-related losses while the remaining US$75 million will cover losses from earthquakes. The bond transfers risks related to natural disasters from developing countries to capital markets. According to Mara K. Warwick, World Bank Country Director for Brunei, Malaysia, Philippines, and Thailand, the CAT bond “demonstrates the Philippines’ capability to develop innovative financial solutions to mitigate impacts of extreme climate and weather-related events as well as major earthquakes.”

UNDP and Government of India launch accelerator to champion innovative approaches to development challenges. The India chapter of “Accelerator Labs,” a new UNDP initiative, will be part of a global network of 60 labs where innovative and homegrown solutions to global challenges such as climate change and inequality will be tested and scaled. The labs will employ real-time data and experimentation to quicken progress towards meeting the SDGs by 2030. The Government of India’s Atal Innovation Mission, part of a national effort to harness the potential of entrepreneurship, serves as the lab’s key partner in the country. At the launch, Mr. R. Ramanan, Mission Director of the Atal Innovation Mission said, “We remain committed to finding local solutions that can be scaled up not only in India, but also across the Accelerator Lab network.” The launch also featured #DateForDevelopment, a matchmaking activity aimed at fostering collaboration and knowledge sharing. Policymakers, impact investors, experts from civil society, scientists, and members of the private sector interacted in the activity to iterate over proposed innovations.

Social stock exchange in the works in India. A 15-member working group, constituted under the Securities and Exchange Board of India (Sebi), is likely to present a blueprint for a stock exchange for the social sector this month. According to Vineet Rai, co-founder of Avishkaar, a pioneering social enterprise, the social stock exchange will help potential donors find and fund credible organizations that are doing good. As these efforts proceed apace some concerns have also arisen. Former Sebi chairman, UK Sinha, opines that robust impact measurement will be a critical ingredient in the exchange’s success, and yet there are few metrics that combine social impact and financial success and can serve as an effective basis for qualification on the exchange. Despite these hurdles, however, Sinha agrees that the social stock exchange is a step in the right direction.

IN OTHER NEWS…

China’s star healthcare crowdfunding portal, Waterdrop, mired in scandal. The South China Morning Post (SCMP) reports that an undercover media report has shed light on a series of lapses and wrongdoings on the part of Waterdrop and its staff. SCMP reports that Waterdrop staff asked hospital patients to initiate crowdfunding projects and exaggerate their stories to garner sympathy. Waterdrop’s model incentivizes project creations according to one staff member who said he would lose his job if he did not meet the target of 35 projects initiated per month. The report also states that the financial situations of targeted families was not being verified and patients were not required to submit proof of how they were using the donated money. According to SCMP, verification and supervision are the most frequently raised issues about crowdfunding platforms in China. Shen Peng, 32, founder of Waterdrop, has vowed to transfer ownership of the platform to an NGO if he cannot manage it better in the future. Waterdrop had raised CNY1 billion (approximately US$145 million) in June this year.

Environment for NGOs likely to become grim under Sri Lanka’s new president. In an interview for the The Diplomat, Taylor Dibbert, an adjunct fellow at the Pacific Forum, opines: “I wouldn’t be surprised to see NGOs throughout the country–particularly in the heavily militarized north and east–getting visits from security personnel. Offices may be raided.” Gotabaya Rajapaksa was sworn in as the island nation’s eighth president earlier this month.

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?

15 April 2019 - 28 April 2019

THE GIVERS

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

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

THE THINKERS

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

THE NONPROFITS

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

THE BUSINESSES

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

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

THE INNOVATORS

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

THE VOLUNTEERS

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

THE TRUSTBREAKERS

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

Who’s Doing Good?

8 April 2019 - 14 April 2019

THE GIVERS

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

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

THE THINKERS

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

THE NONPROFITS

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

THE BUSINESSES

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

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

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

THE INNOVATORS

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

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

THE VOLUNTEERS

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

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.