CAPS Spotlight: Who’s Doing Good

23 June 2021 – 06 July 2021

With total donations valued at US$102.4 billion, India’s Jamsetji Tata—founder of the Tata Group—tops the 2021 EdelGive Hurun Philanthropists of the Century list. This is the first time EdelGive Foundation and Hurun Research Institute have spotlighted top philanthropists spanning a century. The 50 most generous individuals come from five economies, including three from China and two from India. Continue reading on the Hurun website →

Corporates and the social sector continue to support relief efforts as Asia experiences a resurgence of Covid-19. In India, Standard Chartered BankGoogle India and Vedanta Resources have pledged support towards relief efforts. Vinamilk, a Vietnamese dairy company, is supporting the domestic and regional fight against Covid-19. Korean, Taiwanese and Japanese companies operating in Vietnam are contributing to the government’s vaccine fund. In Taiwan, the Buddhist Compassion Relief Tzu Chi Foundation becomes the third organization to win approval to procure vaccines, following Foxconn and Taiwan Semiconductor Manufacturing Co. (TSMC).

CAPS explains how Asian business leaders are championing public-private partnerships for social good. As the world comes to grips with the social and economic repercussions of Covid-19, the need and potential for multi-stakeholder collaborations are becoming more evident. CAPS’ Senior Researchers Annelotte Walsh and Wilson Lau discuss how a deeply rooted desire to do good can drive business leaders to partner with government for social good. Continue reading on the WINGS website →

Zhang Yiming, founder of TikTok owner ByteDance, gives ¥500 million (US$77.3 million) to education. Zhang’s donation will be transferred to an education fund in his hometown of Longyan city. The funds will be used for teacher training, ed-tech infrastructure and the construction of dormitories, reports Bloomberg. This donation is in line with the recent trend we have reported of Chinese tech billionaires giving big. Continue reading in Bloomberg →

HKEX Foundation launches HK$10 million (approximately US$1.3 million) HKEX Impact Funding Scheme to support community projects run by local NGOs. The scheme will be implemented in partnership with the Hong Kong Council of Social Service (HKCSS) and focus on four thematic areas: financial literacy, diversity and inclusion, poverty relief, and environmental sustainability. Applications close on 11 August. Continue reading on the HKEX website → 

Indian companies unveil ambitious plans to push clean energy. Mukesh Ambani of Reliance Industries pledges INR750 billion (US$10.1 billion) over three years to clean energy investment. Last year Reliance set itself the target of becoming a net-zero carbon company by 2035. Gautam Adani of Adani Group plans to turn his business carbon negative, aiding the government’s goal to expand the country’s renewable capacity nearly fivefold and meet its 2030 climate commitments.

Singapore-based EcoWorth Tech wins at the 2021 SAFE STEPS Disaster Tech (D-Tech) Awards. The winner in the for-profit category, Eco-Worth is the creator of the Carbon Fibre Aerogel (CFA) sponge. The sponge is made from low-cost natural materials and can be used to clean organic materials from wastewater. The awards, by Prudence Foundation and partners, recognize the essential role that technology plays in protecting and saving lives before, during and after natural disasters. Continue reading on the Safe Steps website  

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

Public-Private Partnerships for Social Good

Rethinking PPPs

There is a growing trend in Asia of governments and the private sector coming together to address social needs, and our latest study spotlights these “public-private partnerships for social good.” With 88% of top business leaders in Asia believing such partnerships will become even more common over the next five years, it is more important than ever to understand what they are and how they work.

We conducted an in-depth analysis of 20 notable PPPs for social good spanning 11 Asian economies and 9 sectors to find out. Our report showcases why this trend is taking root, what best-in-class PPPs for social good look like, and how they maximize impact.

Read on to learn more about the 6 strategies that enable public-private partnerships for social good to achieve greater impact, how they can prepare for sustainability, and how they can navigate risks.

Read the press release hereand download the full report below.

 

CAPS Spotlight: Who’s Doing Good

9 June 2021 - 22 June 2021

Hong Kong companies offer HK$130 million (approximately US$16.7 million) worth of incentives to encourage Covid-19 vaccinations. New World Development is partnering with local NGOs to offer a HK$1,000 allowance to 500 underprivileged individuals. Other Hong Kong companies, including Sino Group, Hang Lung Properties, The Airport Authority Hong Kong, are offering lucky draw and discount prizes, ranging from shopping coupons to a HK$10 million (approximately US$1.3 million) apartment.

In the latest Philanthropy Impact magazine, CAPS explains how blended finance can pave the way to achieving the SDGs. Asia faces a significant financing shortfall in meeting the Sustainable Development Goals by 2030, especially in the wake of the pandemic. CAPS’ Director of Research Mehvesh Mumtaz Ahmed describes how blended finance, which uses catalytic capital from government or philanthropists to attract private capital, can help. She also showcases different blended finance strategies from across Asia. Continue reading on page 26 of Philanthropy Impact 

Companies are partnering with nonprofits and government to boost Covid relief in India. Microsoft, Hitachi, and Honeywell are working with various charities to manufacture and provide essential equipment to Indian hospitals. The foundations of Vodafone and NASSCOM are partnering with Childline India Foundation to launch a helpline for children in distress.

Additionally, Dasra launched the campaign #BacktheFrontline to raise US$10 million for over 100 NGO first responders as the country shifts from relief to rebuilding. Some of US philanthropist Mackenzie Scott’s recent bequest of US$2.7 billion is going to Indian nonprofits working in pandemic relief, such as GiveIndia, The/Nudge Foundation and Mann Deshi.

With private sector support, Covid-19 vaccination rates gain pace in Japan and Taiwan. Rakuten is preparing a nationwide vaccination rollout, collaborating with industry, academia and government to establish additional vaccination centers and administer over 30,000 daily doses. Japan’s largest companies, including Toyota Motor, Softbank and Nomura, are setting up employee inoculation facilities. In Taiwan, Taiwan Semiconductor Manufacturing Co. will purchase 5 million vaccine doses on behalf of the government. This follows recent news of Foxconn’s pledge to purchase 5 million Pfizer-BioNTech vaccines.

Korea will introduce ESG guidelines by the end of this year. The Korean Government plans to establish infrastructure and incentives to help companies embed environmental, social and governance (ESG) values in corporate strategies. It is also considering a revision of the stewardship code towards responsible investing, which would affect Korea’s National Pension Fund, currently the world’s third largest. These developments will help Korea keep pace with other Asian economies. Continue reading in The Korean Times 

Kakao’s founder Kim Beom-su (Brian) establishes new eponymous foundation. We reported in February 2021 about Kim’s pledge to donate more than half his wealth. He recently sold ₩500 billion (approximately US$440 million) worth of company shares, part of which will be put towards the newly formed Brian Impact Foundation. The foundation will support social impact projects’ research and development, and businesses developing artificial intelligence and other future-leading tech. Continue reading in The Korea Herald 

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

CAPS Spotlight: Who’s Doing Good

26 May 2021 - 8 June 2021

Wang Xing, Founder of Meituan, gives big. Wang recently donated over US$2 billion worth of shares in the food-delivery giant to his philanthropic foundation. Meituan said the funds will go towards education and scientific research. Wang’s donation is in line with the recent trend of Chinese tech billionaires substantially increasing their philanthropic giving. Continue reading in The Wall Street Journal →

Companies in Asia set up Covid-19 inoculation programs for employees and their families. In India, companies including HCLBajaj Auto and Samsung India have launched employee vaccination campaigns. Japanese companies are also stepping up and inoculating employees, which will help the government double the number of daily vaccinations to 1 million. Companies in Southeast Asia rolled out similar initiatives in the second quarter of this year.

Terry Gou, Founder of Foxconn, pledges US$228 million to purchase 5 million Pfizer-BioNTech vaccines as Taiwan sees a spike in Covid-19 infections. The donation is expected to also cover the cost of transportation, cold chain logistics and storage, distribution, and administration. Continue reading in Taiwan News 

92% of youth-led enterprises in the Asia Pacific negatively impacted by Covid-19, according to Youth Co:Lab. The organization—co-created by UNDP and Citi Foundation—recently launched their report, “How Young Entrepreneurs in Asia-Pacific Responded to COVID-19.” It discloses how lockdowns, shrinking demand, supply chain disruptions and a credit crunch challenged these enterprises. They responded by pivoting business strategy, launching new products and services, and transforming business models. The report also showcases over 40 innovative youth-led solutions aiding the region’s Covid-19 recovery.

Japan’s impact investing market has potential to grow to ¥2.64 trillion (approximately US$24 billion). The Global Steering Group for Impact Investment (GSG-NAB) Japan recently launched their report, “The Current State and Challenges of Impact Investing in Japan.” It highlights trends in impact investing—including growing interest from corporates and the issuance of Japan’s first sustainability-linked bond—and forecasts market size. This is encouraging news as there is much room for growth; according to CAPS’ study Business for Good, only 9% of social enterprises in Japan receive private investment.

Asian philanthropists pool US$1.5 million to contribute 600,000 doses towards COVAX global Covid-19 vaccine target. Singapore-based Asia Philanthropy Circle raised this funding from 10 philanthropists and philanthropic organizations. Their pooled donation will be matched by a public charity through Gavi, the Vaccine Alliance, bringing total funding to US$3 million. Continue reading on Asia Philanthropy Circle’s website 

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

DECODED

Asia's social sector takes on Covid-19

Our DECODED series unpacks, explains and crystallizes issues critical for social investment in Asia. DECODED draws upon CAPS’ expertise in research, and access to an extensive network of sector experts and philanthropists in 18 Asian economies. This enables us to identify emerging trends in the region. Through DECODED, we translate these concepts into bite-sized, easy-to-understand insights.

This inaugural DECODED synthesizes how the social sector across Asia has risen to the occasion in responding to Covid-19, and what comes next. We end with recommendations for philanthropists, corporates and policymakers who want to invest in helping Asia’s social sectors thrive.

Webinar: Asia Society Hong Kong Center Program Charting the Path Forward

Catching the world unaware, Covid-19 has sent the global economy and the lives of billions into a tailspin. In the wake of this pandemic, the public, private, and social sectors must come together to work towards a stronger and more equitable Asia as we build our way out of this crisis. At a time when foreign funding is declining across the region, “Asia for Asia” philanthropy must fill the gap—and the Doing Good Index shows how.

CAPS’ Co-Founder and Chief Executive Ruth Shapiro and Director of Research Mehvesh Mumtaz Ahmed present the key findings of the index and showcase how governments, philanthropists, companies and the social sector can work together for mutual benefit. This discussion was moderated by Ronnie C. Chan, Co-Founder and Chairman of CAPS and Chairman of Asia Society Hong Kong Center.

Who’s Doing Good

20 July 2020 - 02 August 2020

THE GIVERS

Hong Kong tycoon Li Ka Shing to donate another HK$101 million (US$13 million) to medical and welfare sectors amid pandemic. A fifth of the donation will go to encouraging graduates of the Li Ka Shing Faculty of Medicine at The University of Hong Kong to stay back and serve the city, by providing each graduate with a HK$50,000 (approximately US$6,500) cash gift. The rest of the donation will benefit Hospital Authority’s hospitals, 12 local NGOs, and individuals who fall outside of the city’s social security safety net as Hong Kong battles its third wave of Covid-19 cases. This fresh bequest follows earlier donations of HK$100 million (approximately US$13 million) and HK$80 million (approximately US$11 million) to Wuhan and Hong Kong, respectively, to help contain their Covid-19 outbreaks.

Forbes China releases 2020 China Philanthropy List. In its 14th edition, the list includes 100 business owners and their firms, representing ¥17.91 billion (approximately US$2.57 billion) in cash donations. Xu Jiayin, president of real estate giant Evergrande Group, tops the list with charitable cash donations of ¥3.01 billion (approximately US$430 million) in 2019. Yang Guoqiang, founder and chairman of Country Garden, and his family ranked second with ¥1.52 billion (approximately US$218 million) in cash donations.

Korea’s top research university receives record donation from entrepreneur Lee Se-young. Lee, head of real estate company Gwangwon Industry, announced a donation of real estate worth ₩67.6 billion (US$56.4 million) to the Korea Advanced Institute of Science & Technology (KAIST)—the biggest donation received by the school since its founding in 1971. Lee has previously donated real estate worth ₩8 billion (approximately US$6.7 million) in 2012 and ₩1 billion (approximately US$900,000) in 2016, making her cumulative donation to KAIST around ₩76.6 billion (approximately US$65 million). Lee hopes that her donation will help Korea produce its first Nobel Prize winner in science.

THE THINKERS

Taiwan among the leading group of “Doing Well” in the Doing Good Index 2020. Read more (in Chinese) about Taiwan’s leading performance in the latest article by CAPS’ Chief Executive Ruth Shapiro. In CommonWealth Magazine (天下雜誌), Shapiro discusses Taiwan’s laws and policies that promote an accountable and transparent social sector and engagement with it. 

THE NONPROFITS

Singapore-based NGO to invest up to SG$100 million (approximately US$73 million) in environmental projects in India. The Alliance to End Plastic Waste, a Singapore-based NGO working in the environmental sector, plans to invest in India over the next five years to help reduce the country’s plastic waste. Projects so far include an initiative to reduce plastic waste in the river Ganga and a partnership with UN-Habitat to implement solutions towards a circular economy. The Alliance also has a budget of SG$400 million (approximately US$290 million) for environmental projects in Southeast Asia and China.

THE BUSINESSES

Hitachi to donate ¥100 million (approximately US$1 million) to support research on the novel coronavirus. The funds are earmarked for “The Hitachi Global Foundation Fund for Research Support of Infectious Diseases,” which will support researchers in Japan and the ASEAN region. This follows earlier Covid-19 relief efforts from Hitachi Group, including donating PPE and providing US$1 million in loans to businesses in need through Kiva.

Wix helps bring first-of-its-kind remote learning initiative to Philippines Department of Education. Wix, a leading website creation platform, announced that over 43,000 e-learning websites were built and launched in two days through its project with the Philippines Department of Education. Under the government’s “Digital Rise Program,” this initiative enabled teachers with no coding experience to digitize their curriculum via Wix, helping schools transition to e-learning during this time.

Yoma Bank donates 6,000 masks and school supplies to under-resourced students. In Myanmar, Yoma Bank donated design-your-own masks, intended to improve the motivation of students to follow safety practices by allowing them to personally design their masks. In collaboration with Step-in Step-up, a vocational training academy, Yoma Bank also provided mask-wearing training to ensure students wear, remove, and handle masks in a safe manner when they return to school.

THE VOLUNTEERS

China sees increase in number of registered volunteers. The number of registered volunteers reached 169 million in China by the end of 2019, a 13.9% increase year-on-year, according to the Blue Book of Philanthropy—a report released by the Chinese Academy of Social Sciences, the Social Sciences Academic Press, and the China Lingshan Council for the Promotion of Philanthropy. These volunteers together offered over 2.2 billion hours of service last year. The monetary value of this work is estimated to be ¥90.3 billion (US$12.8 billion).

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

Interview: Ruth Shapiro on the Doing Good Index 2020

CAPS’ Co-Founder and Chief Executive Ruth Shapiro shares insights from the second edition of the biennial Doing Good Index, launched in June 2020.

 

Insights with Mehvesh Mumtaz Ahmed: Doing Good Index 2020

CAPS’ Director of Research Mehvesh Mumtaz Ahmed shares insights from the second edition of the biennial Doing Good Index, launched in June 2020.

Webinar: Doing Good Index 2020

Profiling Asia's Social Sector: The Path Forward

The Centre for Asian Philanthropy and Society (CAPS) introduces its second edition of the Doing Good Index (DGI). Hear from Dr. Ruth Shapiro, Co-Founder and Chief Executive, and Mehvesh Mumtaz Ahmed, Director of Research at CAPS, as they present key findings from the DGI2020 and showcase how governments, philanthropists, companies and the social sector can work together for mutual benefit. During the webinar, learn which factors enable or hinder private social investment across 18 countries and territories in Asia.