The article presents the views of academics and philanthropists on Asia’s role in the global philanthropic ecosystem, how it compares to the West, and whether this comparison is valid.
On the surface, Asian high-net-worth individuals are not giving as much as their Western counterparts—only a few are signatories to The Giving Pledge under which the wealthy vow to give away at least half of their wealth. However, philanthropists and practitioners such as Dr. Mary Ann Tsao, whose eponymous foundation provides healthcare services in Singapore, takes issue with the East-West comparison. She believes structural issues can mask efforts by Asian philanthropists who often have to create and implement programs themselves in the absence of existing channels to do good. Dr. Tsao adds that business itself can be a force of good. In her view, this can be achieved by divesting from socially and environmentally unfriendly businesses and investing in those that comply with ESG standards. Read it here.