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Wealth is growing in Asia at an unprecedented rate. In 2020, Asia became the world’s second-richest region, with 169,889 ultra-high-net-worth (UHNW) individuals accounting for 28% of the global UHNW population — and these numbers are expected to grow. Along with this growth, there is an increased interest and ability to engage in philanthropy.

CAPS Co-Founder and Chief Executive Ruth Shapiro, examines recent trends and unique characteristics associated with the rapid growth of philanthropy in Asia.
Discover how this evolving landscape is shaping social investments across the region in the article.

The Centre for Asian Philanthropy and Society (CAPS), released the latest DECODED series, Collaborative Giving in Asia. The study highlights how collaborative philanthropy in Asia is shaped by its unique cultural and social contexts, emphasizing relationships, local challenges and pragmatism. While collaborative funding models remain relatively scarce, the potential for meaningful impact through collaboration is significant in Asia.

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Asia has its fair share of high-net-worth individuals—think Indian mega-mogul Mukesh Ambani, whose family just threw a wedding reportedly worth $600 million—yet the region’s wealthiest tend not to rely on mega-foundations for their charity work.

Instead, the company takes the lead in Asia. “There’s very little distinction between personal philanthropy and corporate philanthropy” in Asia, says Ruth Shapiro, co-founder of the Centre for Asian Philanthropy and Society (CAPS), a Hong Kong-based think tank. “There are no Ford, Gates, Rockefeller foundations here.” Corporate giving comes with its own set of perks: on-the-ground experience, existing distribution systems, and personal connections. “Companies want to fund where they’re operating,” Shapiro explains. “Why send it through another organization,” when companies can just do it themselves.

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수학시험의 주관식 문제는 답을 틀려도 풀이 과정이 맞으면 부분 점수를 받는다. 결과만큼 결과를 끌어낸 과정이 중요하다는 뜻이다. 기부도 마찬가지다. 매년 한국의 기부 순위가 발표되고 기부가 저조하다는 말들이 오가지만, 정작 그 이유는 알쏭달쏭하다.

아시아 필란트로피 소사이어티 센터(Center for Asian Philanthropy and Society, 이하 캡스)가 기부 환경에 대한 연구 과정에서 ‘왜’에 집중하며, 기부 통계 이면의 ‘맥락’을 짚어내는 이유다. 범위도 아시아로 좁혔다. 미국이나 유럽 같은 서구 사회와는 기부 문화가 다르기 때문이다.

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Despite the rapid digitisation of the Asian social sector, social delivery organisations (SDOs) are struggling to keep up with technological changes because of inadequate access to digital infrastructure, lack of capacity and insufficient donor support, according to the Doing Good Index 2024. As technology continues to advance, a new type of digital divide is emerging that hampers the ability of the social sector to deliver products and services to the most vulnerable communities, said the Centre for Asian Philanthropy and Society (CAPS), which created the index.

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The 2024 Doing Good Index (DGI) report, recently launched by the Centre for Asian Philanthropy and Society (CAPS), reveals that Indonesia’s policies related to philanthropic activities and social initiatives have been stagnant and even barely able to encourage the progress of these activities in the last six years. This lack of policy change and improvement is reflected in the DGI 2024 Report, released on Wednesday, June 19, 2024, which shows that Indonesia is ‘doing okay’.

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Government procurement of goods and services from the social sector can help leverage the sector’s subject expertise and community links to deliver more efficient and cost-effective social services. However, the potential benefits are contingent on the ease and accessibility of government procurement and broader factors contributing to an organization’s capacity to fulfill needs.

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The Centre for Asian Philanthropy and Society(CAPS),a uniquely Asia, independent, action-oriented research and advisory organization, released the 2024 edition of its flagship study, the Doing Good Index. The study finds that despite the rapid digitalization of the Asian social sector, social delivery organizations (SDOs) are struggling to keep up with technological changes due to inadequate access to digital infrastructure, lack of capacity, and insufficient donor support. As technology continues to advance, a new type of digital divide is being created that hampers the ability of the social sector to deliver products and services to the most vulnerable communities.

Read the full article here.