CAPS Spotlight: Who’s Doing Good

10 November – 23 November 2021

Cross-sector collaborations target climate action. The Asian Development Bank is aiming to mobilize US$100 million in catalytic capital from public and private sources to incentivize climate investments and help Asian economies transition towards net-zero emissions. Michael Bloomberg says India is a model for public-private collaboration for the climate: “Success will only come by making full partners of the private sector – and India is showing how it can be done.”

Regional and international companies pledge to address social needs across Asia. Corporate philanthropy across the region can benefit communities and address needs, helping to supplement government or social sector support. Ayala Corporation launches Alagang AyalaLand Center for social enterprises in Quezon City, Philippines, one of 32 similar centers that can support a potential 4,000 jobs for the community. Supermarket giant Wellcome aims to raise HK$5 million (approximately US$641,000) in Hong Kong and Macau through a rice donation program amid rising poverty. In Singapore, UBS pledges S$2 million (approximately US$1.47 million) funding for mangrove conservation across Asia. And Google makes a US$1 million donation to Taiwan FactCheck Centre for fighting disinformation, as well as pledging US$2.5 million for women’s empowerment in India.

Pakistan Petroleum Limited largest corporate giver. Pakistan Centre for Philanthropy (PCP) awarded the company the Corporate Philanthropy Award for its giving in 2019-20. PCP–CAPS’ partner for the Doing Good Index—has also released the findings of its latest survey on corporate philanthropy in Pakistan. Continue reading in The News International→

Kamath brothers launch Young India Philanthropic Pledge. Zerodha co-founders Nikhil and Nithin Kamath pledge a quarter of their wealth to philanthropy. The Young India Philanthropic Pledge will see signatories (aged 45 and younger) pledging 25% of their wealth with a minimum annual spend of ₹1 crore (approximately US$134,000). Continue reading in The CSR Journal→

Collaboration between business and civil society. Recognizing each other’s strengths and expertise can be a good starting point for effective partnerships. NGOs often possess a nuanced understanding of the risk landscape as it relates to underrepresented groups. They are well placed to provide contextual knowledge in areas where corporations may lack. This resonates with our Doing Good Index 2020, which found that 11 economies in Asia are witnessing a rise in corporate social responsibility and public-private partnerships for social good. Continue reading in Nikkei Asia→

How has Covid-19 impacted NGOs in the Philippines? As part of CAPS’ biennial survey for the Doing Good Index, the Association of Foundations surveyed 150 NGOs to understand how they have adjusted and sustained their work during the pandemic. Findings from the survey show nine out of 10 NGOs are directly supporting Covid-19 relief efforts, many of which have formed new collaborations with government, corporates and other NGOs as a result. Meanwhile, efforts to safeguard communities against Covid-19 continues as the Aboitiz Group fully vaccinates over 9,000 in Davao, Philippines.

Sri Lanka’s wheelchair tennis receives donations. The US$30,000 donation came from Colombo International Container Terminals (CICT) and China Merchants Foundation (CMF). This latest donation brings the cumulative value of CICT’s and CMF’s financial support to Sri Lanka’s wheelchair tennis program over the past six years to approximately US$203,700. Continue reading in the Sunday Observer→

Malaysian investors can now donate their unit trust funds to charity. Amanah Saham Nasional Bhd (ASNB) launches new Wakaf ASNB service, allowing investors to contribute to charity through their investing. Continue reading in the Malay Mail→

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

CAPS Spotlight: Who’s Doing Good

27 October 2021 – 09 November 2021

COP26 spurs increase in partnerships for climate action. The Climate Finance Leadership Initiative India announced its nine founding members ahead of the climate conference, which include Tata Sons, State Bank of India, Larsen & Toubro, HDFC Bank, Kotak Mahindra Bank, HSBC and Singapore’s GIC Private Limited. The initiative will focus efforts on accelerating the flow of private finance to climate actions in India.

In addition, the Bezos Earth Fund pledged US$500 million in seed capital to The Global Energy Alliance for People and Planet, to bring renewable energy to 1 billion of the world’s poorest. The alliance aims to increase this to US$100 billion within a decade by leveraging both multilateral and private capital, reports the Financial Times. Initial projects will target economies in Asia (India, Indonesia, Vietnam and Pakistan), as well as Africa and Latin America. And Bill Gates reflects on the significance of COP26 and the shifts in the role that the private sector can play in combating environmental challenges.

Azim Premji tops the 2021 EdelGive Hurun India Philanthropy List. Premji’s family increased their giving by 27% compared to last year, reports India Today. Nine women were featured on the list, including nonprofit founder Rohini Nilekani, who was named India’s “most generous woman philanthropist”. CAPS spoke with Rohini earlier in the year about her push for water and education philanthropy in India. Continue reading in India Today →

Asian billionaires are donating big to support higher education. Nguyen Thi Phuong Thao, the founder of Vietjet and Vietnam’s wealthiest woman, donates £155 million (approximately US$211 million) to Oxford college. Her donation, the largest received by Oxford in at least 500 years, will see Linacre College renamed “Thao College”, reports The Guardian. Indonesian entrepreneur Tandean Rustandy makes a US$1.25 million donation to the University of Colorado, Boulder. The major gift from the founder of ceramic tiles business PT Arwana Citramulia Tbk will support scholarships that link business and engineering studies.

India’s first Skills Impact Bond launches, set to benefit 50,000 youths over the next four years. The US$14.4 million fund is a collaboration between the National Skill Development Corporation and a coalition of global philanthropic, corporate and government partners. Partners will work to promote effective interventions, support research and enhance the impact of the skill development program. Women and girls, who have been disproportionately impacted by the pandemic, will constitute 60% of the target group, reports The Times of IndiaContinue reading in The Times of India →

Green and sustainable finance continues to gain traction in Asia. Singapore-headquartered Tembusu Partners and Eco Business launch the Sustainable Future Fund. The targeted US$100 million, Asia-focused fund will invest in climate opportunity areas including energy, sustainable cities and the circular economy. Thailand’s Indorama Ventures issues a US$300 million sustainability-linked bond. The bond will be the largest of its kind issued in Thailand, according to The Asset. Indorama says the bond is aligned with international standards and will be made available to both institutional and high-net worth individual investors.

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

CAPS Spotlight: Who’s Doing Good

13 October 2021 – 26 October 2021

Fortune releases 2021 Change the World List. The list honors companies that have made measurable progress in addressing pressing social problems as part of their core business strategy. Honorees from Asia include China’s Envision Group, Kuaishou and Pinduoduo, and India’s ReNew Energy Group. Continue reading in Fortune →

Indian agricultural waste recycling project wins Prince William’s Earthshot Prize. Takachar is one of five recipients of the £1 million (approximately US$1.38 million) prize awarded to groundbreaking solutions to the world’s greatest environmental challenges. The organization won in the “Clean Our Air” category for its technology that converts agricultural waste into useable fuel and fertilizer. Continue reading in The Hindu →

Funding schemes provide boost to Covid-19 relief and recovery in the region. In India, HDFC Bank, MasterCard, the US International Development Finance Corporation (DFC) and USAID have launched a US$100 million credit facility to extend lending to micro, small and medium size enterprises. The facility aims to encourage digitization and support businesses—particularly women-owned businesses—recover from the impact of the pandemic. In Vietnam, the Southeast Asia Commercial Joint Stock Bank (SeABank) has pledged a relief package of nearly US$8.79 million to customers and communities affected by the pandemic.

Green and sustainable finance is on the rise in Asia. In Hong Kong, the government plans to issue US$22.5 billion worth of green bonds over the next five years in a bid to make the city a hub for sustainable finance. UOB Asset Management has launched the United Smart Sustainable Singapore Bond Fund to attract investors looking to invest in Singapore’s sustainability efforts. The fund will invest assets in high-quality, green, social and sustainability-linked bonds with a strong ESG mandate.

Singapore launches network to support family offices. Spearheaded by the Wealth Management Institute (WMI), the Global-Asia Family Office Circle (GFO Circle) will provide a platform for industry players to collaborate, share best practices and build new capabilities. In addition, WMI is set to launch new programs to help build investment capabilities in the sector in partnership with Dalio Philanthropies, and work with the Gates Foundation on a philanthropy masterclass, reports The Business TimesContinue reading in The Business Times →

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

CAPS Spotlight: Who’s Doing Good

29 September 2021 – 12 October 2021

Corporates donate big to flood relief efforts in Shanxi Province, China. Companies including tech giants Tencent, Alibaba and Pinduoduo, and smartphone makers Xiaomi, Oppo and Vivo, have pledged US$46 million to aid over 1.75 million people affected by severe rainstorms and floods. The giving comes amid a nationwide call of common prosperity, the concept championed by President Xi Jinping that companies should focus on stakeholder value and contribute to overall societal wellbeing. Continue reading in the South China Morning Post →

Sustainable infrastructure platform launched in Singapore. Temasek has partnered with HSBC Bank to set up a US$150 million platform dedicated to sustainable infrastructure projects. Initially focusing on Southeast Asia, the aim is to scale the platform to US$1 billion in loans within 5 years. The platform will target projects in renewable energy and storage, water and waste treatment, and sustainable transport to offset the impact of climate change. Continue reading on HSBC’s website →

India’s social sector gets a boost. The country is set to establish its first social stock exchange, paving the way for nonprofit organizations and for-profit social enterprises to access capital markets. Organizations will be able to raise funds through equity, impact bonds, and other market instruments. Also, India just celebrated DaanUtsav, a week-long festival of giving and the fifth year of GivingTuesday India, led by nonprofit and CAPS partner GuideStar India. This year’s events focused on impacting millions of lives through donations and volunteering.

India’s richest are investing big in clean energy. Mukesh Ambani tops the Forbes and Hurun India’s respective rich lists, followed by Gautam Adani in second spot. Both are making significant investments in clean energy, with Reliance spending US$10.1 billion over 3 years, and the Adani Group investing US$50-70 billion over the next 10 years. These investments show Asian energy companies recognize the need to focus on renewable and clean energy sources.

Corporates and foundations seek to address social issues in Hong Kong. New World Development launches a nonprofit social housing enterprise, New World Build for Good, to research and pilot programs in pursuit of solutions for the city’s housing issues. The Wofoo Foundation donates to Hong Kong’s Lingnan University with funding to establish a laboratory in support of adolescent wellbeing. This adds to a previous donation from the foundation in 2019.

Nobel Peace Prize honors an investigative journalist in the Philippines. This year’s prize acknowledges Maria Ressa for her courage and commitment towards independent and fact-based journalism, according to the Norwegian Nobel Committee. Continue reading on the Nobel Peace Prize’s website →

Accolades for environmental justice organization in India. The nonprofit Legal Initiative for Forest and Environment (LIFE) is one of four global awardees of the 2021 Rights Livelihood Award, recognizing the organization’s contribution in providing access to justice for those protecting the country’s forests and biodiversity. Continue reading in the Hindustan Times →

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

CAPS Spotlight: Who’s Doing Good

15 September 2021 – 28 September 2021

Hong Kong-based Yidan Prize Foundation unveils 2021 award winners. Regarded as one of the world’s highest education accolades, the Yidan Prize recognizes individuals and teams with significant contributions to education research and education development. This year’s Yidan Prize for Education Research laureate is Stanford University’s Professor Eric Hanushek, and the Yidan Prize for Education Development laureate is Dr. Rukmini Banerji of the Pratham Education Foundation. Each laureate will be awarded HK$30 million (approximately US$3.9 million). Continue reading on Yidan Prize’s website →

Pakistan’s local startups see record investment. Maqsad raised the nation’s largest edtech funding to date of US$2.1 million, marking the latest milestone among the nation’s startup industry, reports Bloomberg. In total, the country’s startups have raised over US$244 million in 2021—more than the previous six years combined, according to venture capital fund, Invest2Innovate. There is even more room for growth; according to CAPS’ study Business for Good, only 26% of social enterprises in Pakistan receive private investment. Continue reading in Bloomberg →

Tencent’s “99 Giving Day” 2021 raises ¥4.2 billion (approximately US$649.5 million). This year’s event spanned 10 days and saw over 68.7 million donors contribute ¥3.6 billion (approximately US$557 million), while Tencent Charity Foundation pledged to give ¥600 million (approximately US$92.5 million). Continue reading on Tencent’s website →

Bloomberg Philanthropies and Goldman Sachs pledge US$25 million to advancing clean energy solutions in South and Southeast Asia. The new Climate Innovation Fund, to be managed by the Asian Development Bank, will focus on clean energy solutions in India and Vietnam to begin with. This initial philanthropic funding has the potential to unlock up to US$500 million in private and government investments. Continue reading on Bloomberg Philanthropies’ website →

Corporates, governments and foundations continue contributing to Covid-19 relief and aid efforts in the region. BRAC Bank and SME Foundation signed an agreement to provide loans to help small businesses in Bangladesh recover from the impact of the pandemic. The Philippines’ SM Group intensifies vaccination of employees and stakeholders. The Macquarie Group Foundation allocated AU$20 million (approximately US$14.5 million) to 40 community organizations around the world working to combat Covid-19. This included helping seed two Gender Lens Funds in the Philippines. In Vietnam, the American Chamber of Commerce donated over VND5.2 billion (US$227,000) for the purchase of essential medical equipment. Intel Malaysia earmarked a second round of funding amounting to RM2 million (approximately US$477,000) towards relief efforts.

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

CAPS Spotlight: Who’s Doing Good

01 September 2021 - 14 September 2021

Alibaba commits ¥100 billion (US$15.5 billion) to “common prosperity” vision. China Daily reports that the funding will go towards supporting technological innovation, economic development, developing a high-quality workforce, caring for vulnerable groups, and setting up a ¥20 billion (approximately US$3.1 billion) common prosperity development fund. Continue reading in China Daily →

The family of CAPS’ Chairman Ronnie Chan has been active on both sides of the Pacific. In Hong Kong and mainland China, their Hang Lung Properties group hosted a sustainability-themed volunteer day where 800 corporate volunteers in 10 cities dedicated their time to promoting low carbon living and delivering care to over 5,000 people in need. And in the US, the Chans’ Morningside Foundation has donated US$175 million from their philanthropic organization to the University of Massachusetts Medical School.

Hyundai Motor Group’s honorary chairman Chung Mong-koo pledges ₩10 billion (US$8.63 million) for vaccine research. The funds will be donated to the Korea University Medical Center for establishing a vaccine research center to expand the infrastructure needed to develop homegrown vaccines for infectious diseases. Continue reading in The Korea Herald →

WWF India and the Confederation of Indian Industry (CII) launch the India Plastics Pact. India generates 9.46 million tonnes of plastic waste annually. Almost half (43%) of all plastics produced are used for packaging, with the majority being single-use. The Pact brings together businesses, government, and NGOs to resolve these issues by promoting a circular system for plastics. India is the first Asian economy to launch a Plastics Pact. Continue reading in Business Line →

Cambodia’s Prince Holding Group signs MoU with the Ministry of Education, Youth and Sport (MoEYS) to launch the Chen Zhi Scholarship. The company has pledged US$2 million over seven years to support 400 students attending top Cambodian universities. Prince Group will work with MoEYS to ensure the students receive financial support, training, mentoring and employment opportunities. Continue reading in the Khmer Times →

India’s water quality and scarcity issues require solutions that offer speed, scale, and sustainability. Arghyam’s Jayamala Subramaniam and Amrtha Kasturi Rangan share how a people-centric, participatory and digital driven approach can help India manage its water more effectively. CAPS’ report, Public-Private Partnerships for Social Good, highlights the strategies successful PPPs such as Arghyam use to achieve sustainable social impact. Continue reading in India Development Review →

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

The Intellecap Lighthouse: An Anthology of Ideas & Insights

Aavishkaar Group & Intellecap

This report is an anthology of thought pieces by stakeholders from the agriculture, energy, financial services, sanitation and healthcare sectors. It includes pieces on the significance of gender lens investing and impact investing, ways to strengthen India’s overburdened healthcare system, in addition to the emergence of circularity in the textiles and apparel industry. This compilation looks to drive sustainable solutions to bring us closer to achieving the United Nation’s Sustainable Development Goals. This is the second edition of Intellecap’s Lighthouse report. Read it here.

The Legatum Prosperity Index 2020

Legatum Institute

This report quantifies prosperity in 167 countries and identifies specific actions that can contribute to strengthening the pathways from poverty to prosperity globally. The 14th edition in this series reviews progress over the past decade, with Asia-Pacific region having the greatest improvement in prosperity, accounting for the largest portion of global increase. Read it here.

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.

CAPS Spotlight: Who’s Doing Good

13 May 2021 - 25 May 2021

Foreign donations continue to pour into India, but regulatory hurdles remain. Japan’s NTT pledged US$3 million; Thermo Fisher Scientific pledged US$10 million; and Silicon Valley tech leaders have organized relief, including Ethereum’s Co-Founder Vitalik Buterin who donated over US$1 billion in cryptocurrencies to the India Covid Crypto Relief Fund. The New York Times underscored ongoing concerns that India’s strict regulations on foreign funding are inhibiting donations at a time of dire need. Even crypto donations such as Buterin’s are facing legal hurdles under current FCRA regulations. While international support is critical, India Development Review’s Co-Founder and CEO Smarinita Shetty highlights how media attention on India’s lack of oxygen has skewed donor priorities, noting that humanitarian relief is still the need of the hour.

Domestic and international donors step in to aid Nepal as it battles a resurgence of Covid-19. The Chaudhary Foundation, affiliated with the Chaudhary Group, has pledged over US$1.5 million to help combat the second wave. The Foundation is also setting up an ICU ward and oxygen plant in the country’s largest government hospital, as well as importing and distributing oxygen concentrators. Gorkha Brewery joined hands with Singapore’s Lotus Life Foundation, MiRXES Pvt Ltd and Temasek Foundation to provide emergency medical supplies, including ventilators and oximeters, worth over रू200 million (approximately US$1.7 million). Temasek Foundation has also supplied 10,000 Covid-19 test kits.

HSBC commits US$100 million towards the Climate Solutions Partnership Initiative, half of which will fund projects in the Asia-Pacific region. In partnership with the World Resources Institute and WWF, the five-year initiative will focus on three areas: energy transition, habitat restoration and conservation, and carbon-cutting technologies. The initiative is part of HSBC’s climate strategy for a transition to net-zero emissions by 2050 or sooner. Continue reading in Philanthropy News Digest →

Colin Huang, Founder of Pinduoduo, tops the Hurun China Philanthropy List 2020. The billionaire gave US$1.85 billion in donations last year, according to the Hurun Research Institute. The second-most generous business leader on the list was Midea Group’s Founder He Xiangjian, who gave US$970 million last year. Continue reading in South China Morning Post →

SK Group’s building subsidiary rebrands to “SK Ecoplant” as part of efforts to enhance ESG management. The company plans to invest ₩3 trillion (US$2.67 billion) by 2023 towards its vision of growing from a conventional construction business into a leading environmental enterprise. The company will focus on expanding its use of eco-friendly building materials, embracing green technology, and transitioning towards a circular economy. Continue reading in The Korea Herald →

The Development Bank of Japan will increase ESG funding to ¥5.5 trillion (US$50.4 billion) over the next five years. The funding will support developments in hydrogen-based energy, electric vehicles and other emissions-cutting technology. It will also back companies adapting their business models to changes brought about by the coronavirus pandemic. Continue reading in Nikkei Asia →

Governance failings impede Asian companies ESG efforts, according to latest Corporate Governance Watch Report. The 10th biennial report, “Future Promise,” by the Asian Corporate Governance Association (ACGA) and CLSA provides an analysis of corporate governance in 12 markets. Despite recent progress on ESG (environmental, social and governance) standards in Asia, the report finds that the link between corporate governance and ESG policies lacks clarity, limiting meaningful sustainability efforts. While environmental issues remain high on the agenda for Asian governments, this report offers recommendations for improving corporate governance factors across the region. Continue reading in Reuters →

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