New not-for-profit initiative Philanthropy Asia Alliance launched late last week at the annual Philanthropy Asia Summit.
Announced by Temasek Trust, the Alliance aims to catalyse collective action and prime Asia as a force for the greater good. It will work to develop thought and action leadership in philanthropy and enable scalable impact through multi-sector partnerships and alliances.
The concept of an Alliance was prompted by calls for a more sustainable effort to address today’s challenges by mobilising resources, capabilities, and domain expertise in a more coordinated and outcome-focused way to develop Asia-specific solutions.
The first core members comprise Bill & Melinda Gates Foundation, Dalio Philanthropies, Li Ka Shing Foundation, four companies of Sinar Mas, Tanoto Foundation, and Temasek Trust.
To date, these early Core Members, partners and supporters have committed over US$200 million. This includes a commitment of US$100 million from Temasek Trust to underwrite the setting up of the Alliance’s infrastructure, and build capabilities to forge partnerships, develop knowledge, and catalyse Calls to Action (CTAs).
Members and partners can provide funding, in-kind support, or lead an area of interest leveraging their domain expertise or organisational capabilities.
Ms Ho Ching, Chairman, Temasek Trust commented:
“The Philanthropy Asia Alliance signals changes we are seeing in the philanthropy ecosystem in Asia. The readiness to collaborate, bias for action, and new funding models mean our pooled resources will be flexible and nimble as we develop solutions that can scale good in Asia. I thank our founding members, as well as other pathfinder partners and supporters, for their vote of confidence and our trust in each other to uplift Planet, Peace, People, and Progress.”
The World Economic Forum is a strategic partner to help build communities of interest, purpose, and action; drive impact to uplift people and planet through curated projects and programmes; as well as develop leaders in philanthropy by advancing regional capacity and capabilities.
Ms Lim Seok Hui, CEO, Philanthropy Asia Alliance, said:
“Asia offers a significant opportunity to deliver collaborative and sustainable impact at scale. The Philanthropy Asia Alliance aims to leverage and mobilise philanthropic capital to catalyse innovative solutions to tackle existential challenges in Asia and beyond. We welcome more like-minded members and partners to join us in this action-oriented alliance.”