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topics
Covid-19, Environment, Health, Impact Investing & Reporting, Philanthropy
economies
Asia, China, Hong Kong, India, Korea, Malaysia, Nepal, Pakistan, Philippines
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CAPS Spotlight: Who’s Doing Good

1 January - 12 January 2022
Dear Friends,

Welcome to our first newsletter of 2022!

What does the year have in store for Asia’s social sector?

Devex is looking towards the “growing scale of private philanthropy” and the push to maximize the impact of social investments, predicting greater collaborations between private funders and grassroots organizations.

The Chronicle of Philanthropy is optimistic, looking to economic recovery from Covid as a positive indicator for the growth of philanthropy in 2022.

Sustainability is firmly on the global agenda in 2022 as the world reflects on COP26 and a month of major natural disasters in Asia. Our thoughts are with our colleagues across the region dealing with floods, storms and other extreme weather events.

Best,

Ruth A. Shapiro
Co-Founder and Chief Executive

Philanthropy responds to natural disasters. Relief efforts are ongoing in the Philippines following Super Typhoon Odette. The Filipino-Chinese Community Calamity Fund, a coalition of 11 major Filipino-Chinese business and organizations, have thus far raised ₱75 million (approximately US$1.46 million) for typhoon victims. The Aboitiz Group donated almost ₱15 million (approximately US$293,000) to Odette relief, with more than a third collected through the Group’s crowdfunding platform, Kinder. Yayasan Food Bank Malaysia has collaborated with the CIMB Foundation and Xiaomi Malaysia to support residents impacted by flooding in Kajang in late December. And the Gates Foundation, Tata Trusts and Chaudhary Foundation are among the members of Stronger Foundations for Nutrition, a coalition of philanthropies working together to galvanize efforts in overcoming hunger and malnutrition. The group aims to attract philanthropists and corporate foundations to fund country-level interventions, including in India and Nepal.

Covid relief targets communities in need. Chinese companies including Alibaba, Tencent and Xiaomi sent more than ¥100 million (US$15.74 million) in donations and supplies to Xi’an City, which remains under Covid-19 lockdown, reports The Global Times. Nepal received medical supplies from The Hong Kong Ex-Servicemen Association and Sean and Mary Jean Hotung. This includes the provision of oxygen concentrators to 139 health facilities across the country, reports República Nepal.

Asia’s philanthropists celebrated across the region. The Chronicle of Philanthropy’s list of major charitable gifts in 2021 includes Joe and Clara Tsai, who gave US$220 million to establish a medical research nonprofit, and Gerald and Ronnie C. Chan’s Morningside Foundation, which gave US$175 million to the University of Massachusetts’ Chan Medical School. Meanwhile, People Magazine Pakistan named Pakistani-American Danial Schon “Man of the Year” for his contributions to philanthropy and entrepreneurship. Schon has encouraged other philanthropists to create more models for sustainable, long-term development in Pakistan.

China’s companies respond to ESG push. Tencent Holdings plans to sell off 14.5 million shares in a tech company to raise US$3.1 billion for philanthropy and social initiatives. The move is seen as a response to a nation-wide push for “common prosperity”, or greater wealth distribution, according to Business Times. Meanwhile, Greenpeace China named Alibaba as the top e-commerce platform for climate-related commitments, as well as action on greenhouse gas emissions: “China’s net-zero pledge turned climate commitments into one of the major lenses for these companies’ social impact to be judged”. Alibaba has pledged to be carbon neutral across its operations by 2030.

Wealth, philanthropy growing in India. Fortune India has a round-up of key reports related to private wealth, including Bain & Company and Dasra’s Indian Philanthropy Report 2021, which found that private-sector funding increased by 23% compared to the previous fiscal year. In addition, 95% of family business owners have philanthropic interests and commitments, according to a report from Edelweiss. Continue reading in Fortune India→

Green and sustainable bonds in Asia. The Export-Import Bank of Korea (Kexim) has launched a 10-year green bond, the first issued under Kexim’s sustainable finance framework. The net proceeds from the green bond will fund renewable energy, sustainable transportation and resource management projects. The Airport Authority of Hong Kong is preparing its first-ever green bond, aimed at financing green projects such as green buildings. However, a proposed plan for a new runway raises concerns about what constitutes a “green” project, according to The Asset. And Stanford Social Innovation Review has an excerpt from a new book on Net Zero Finance, highlighting some of the transitional risks for a green finance system in Asia and the world.

Have a story to share? Contact us at research@caps.org.