Recognizing Potential Impact: Asian Philanthropy Now and in the Future

In recent years, the rise in strategic philanthropy across Asia has gained increasing attention in discussions of global development. Rapid economic growth throughout Asia and evolving interdisciplinary philanthropic models mean that the region is creating uniquely Asian approaches to doing good that blend strategic thinking with deep cultural roots.

How will these emerging models influence global giving and approaches to development? How can the new generation of philanthropists apply unique approaches across the world to their local context? And how can Asian philanthropy not just learn from, but contribute to pioneering ideas that address pressing global issues?

Philanthropists and philanthropic organizations and leaders in the sector are on the cusp of thoroughly understanding these changes and their impacts — and observing how leaders in the sector practice strategic giving across Asia to tackle issues from climate change to elderly care.

A New Era: The Rise of Strategic Philanthropy, with Asian Characteristics

There has been a notable shift from traditional private, community-focused giving in Asia towards more structured philanthropic activities. According to The Economist, in 2022, individuals in India and China gave $13 billion and $21 billion of their wealth, respectively, while total giving in America approached $500 billion. The differences between the regions' economies, governments, and social structures can account largely for this gap — influencing how and where charity can have the most impact, as well as what is considered philanthropic activity.

The Bridgespan Group’s recent report on "Largest Asian and Global Institutional Philanthropies" shows that many Asian governments are involved in charitable partnerships. According to the report, among the 20 largest global and Asian institutional philanthropies being identified, 15 percent of Asian philanthropies are state-linked compared to 5 percent globally, highlighting the importance of understanding the interaction between philanthropy and government policy. It also points out that 45 percent of Asian philanthropies fund direct-service programs compared to only 15 percent for direct-service funding globally.

Asia’s adoption of strategic philanthropy does not mimic Western practices but strives to build on a uniquely Asian approach to charity that amplifies social impact while honoring cultural traditions of generosity. The interactions of private, corporate and state models of giving to drive impact locally may lead to very different definitions of and approaches to philanthropy from what we might expect in other parts of the world — but the learnings they provide can lay out new frameworks for giving.

A Model Integrated with the Hong Kong Community

The Hong Kong Jockey Club, which has a long history of charitable giving starting in 1915, dedicates its operating surplus to philanthropic giving and programs for the betterment of society. Its Charities Trust, one of the Asia’s largest philanthropic institutions, according to The Bridgespan Group’s report, exemplifies this high-impact approach to giving.

However, while its charitable work is focused on Hong Kong — like the locally-focused nature of most Asian philanthropies — The Trust acknowledges the growing need for regional and global collaboration to tackle complex challenges.

The 2024 Philanthropy for Better Cities Forum (PBC 2024), in association with the Institute of Philanthropy (IoP), a “think-fund-do” tank launched by The Club and The Trust, was convened to continue expanding their potential impact outside Hong Kong. The forum, which brought together over 2,000 philanthropists, policymakers, academics and social entrepreneurs from around the world, provided insights into sustainable and impactful philanthropic development through global and regional collaboration, knowledge sharing and collective learning.

The Commission on Asian Philanthropy: Defining Alternative Models for Doing Good

To better understand the diverse models of philanthropy practiced in Asia, IoP and the Asian Philanthropy Congress (APHIC) co-convened the Commission on Asian Philanthropy, which was launched at PBC 2024. This three-year research initiative brings together influential philanthropic organizations across the continent. Founding commissioners include China Soong Ching Ling Foundation, The Hong Kong Jockey Club Charities Trust, IDEAS Dompet Dhuafa Republika, King Khalid Foundation, The Nippon Foundation, Piramal Foundation, Rainmatter Foundation, Tanoto Foundation, Tata Consultancy Services, and Tencent Charity Foundation.

The Commission's vision is to accelerate Asian philanthropy so it can unleash its full potential for social good. Its research efforts aim to define the scope and opportunity of Asian philanthropy and establish an “in Asia, for Asia” ecosystem that advances the professionalization of the philanthropic sector in the region.

“Asia needs its own infrastructure to ensure that philanthropy has a recognized and valued role across its diverse contexts and to address the urgent social needs of the region,” says Lester Huang, chairman of IoP and a steward of The Hong Kong Jockey Club, emphasizing the importance of this initiative. “The commission will play a key role in building and sharing knowledge that is truly relevant to the Asian context, professionalizing the sector, driving scalable and sustainable solutions, and thereby amplifying Asia’s voice on the global stage.”

Each member of the Commission seeks to understand the mechanisms of success for different philanthropic strategies across Asia. Together, they aim to define the full potential of Asian philanthropy, identify its growth drivers, and chart a roadmap to scale the impact of the different approaches to philanthropy across the region. They will also focus on fostering knowledge sharing and collective action across diverse economies and cultures.

Ichiro Kabasawa, executive director of The Nippon Foundation, highlights the potential for cross-border collaboration as a result of convening the Commission: “If we can develop a very good network among Asian philanthropic organizations, I think the network can supplement diplomacy among the countries in Asia.”

Through collaborative research and exchange, the Commission will build a framework for high-impact philanthropy that reflects the diverse contexts of Asian giving. “At the moment, there is inadequate documentation of how these models evolved,” shared Aditya Natraj, CEO of the Piramal Foundation. “[The Commission] is for each of us to learn from the other in order to improve ourselves. And I think that itself is the unique Asian way.”

Similarly, Princess Nouf bint Muhammad Al Saud, CEO of the King Khalid Foundation, spoke on the importance of elevating Asian voices on the global stage: “Our voices are critical and essential to be there. We need to be strong. We need to be firm and cooperative also at the same time, but these are essential, key places that we actually, absolutely need to be.”

Over the next three years, members of the Commission will:

Collectively shape in-depth, multi-year research on the state of philanthropy across Asian markets. They will play an active role in determining the research scope and direction, ensuring that it aligns with the needs and priorities of the Asian philanthropic landscape.
Become integral members of a regional platform consisting of leading Asian philanthropists, which will collectively create a landmark thought-leading publication on Asian Philanthropy and galvanize a collective voice of Asian Philanthropy in the global arena.
Play an active role in translating research into action, and gain access to deep knowledge sharing and learning opportunities that will enhance their ability to guide and strengthen their existing efforts in building their respective domestic philanthropic sector.

Their collaborative research will culminate in a full report, which will be released in 2027. The report will highlight recommendations and calls for sustainable action and the further transformation of philanthropy in Asia.

The Future of Asian and Global Philanthropy

New, impactful platforms such as the PBC and the Commission on Asian Philanthropy represent the beginning of a new era in Asian giving. By bringing together diverse perspectives from across the continent, these platforms help nurture a more nuanced understanding and cohesive narrative around giving and charity in the East.

PBC 2024, for example, brought together nearly 100 distinguished speakers and 2,000 delegates from 40 countries and regions, representing over 200 local, regional, and global foundations. Distinguished speakers such as Julia Gillard, Michael Spence, Tom Daley and Dustin Lance Black actively engaged and challenged different perspectives of giving across the West and the East. Likewise, the Commission’s launch opened a healthy dialogue on the evolution of philanthropy in the world’s most populous region and what can others learn from it.

Gabriel Leung, director of IoP and executive director, charities and community of The Hong Kong Jockey Club, emphasizes the global significance of all the Commission's member regions: "This represents more than half of the human race, and this also represents the most dynamic economic force in the coming century."

With new models for driving social impact and development, an ethos of cross-region collaboration, and a shared strategic vision, Asian philanthropy is poised to shape the future of global giving. And there is much more to learn as the rich ecosystem of philanthropic activity across Asia continues to evolve and scale.

This content was paid for and created by Institute of Philanthropy (IoP). The editorial staff at The Chronicle had no role in its preparation. Find out more about paid content.