Entrepreneurial approach to philanthropy takes hold in Asia
Entrepreneurial approach to philanthropy takes hold in Asia – BNP Paribas: Sustainable Giving
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To better understand what motivates philanthropists, BNP Paribas Wealth Management carries out and sponsors research on this topic. Entrepreneurial approach to philanthropy takes hold in Asia
Traditional philanthropy is making room for impact-led philanthropy, a trend that takes its cue from a new generation of people with backgrounds in for-profit business.
A century before the ancient Greeks built the Parthenon, Confucius preached the virtue of charity, or good deeds performed out of selfless concern for others. These contemporary circumstances, paired with an ancient tradition that endures, make Asia a fertile ground for philanthropic initiatives.
The Worldwide Association of Non-Governmental Organisations (WANGO), which unites non-governmental organisations (NGOs) worldwide, has 405 members in East Asia and 973 in South-east Asia. “That’s an indication of success,” says Mr Jamil, “but how can I put it down in dollars and cents?”
Wider agreement on the value of philanthropic objectives might ease decision-making, says Mr Jamil, who before joining the Aman Foundation founded Ecopack, a PET bottle manufacturing business that became the primary supplier to Pepsi and Coca-Cola in Pakistan. “What is that worth versus running an ambulance versus giving someone technical training?”
Mr Jamil is part of a growing pool of philanthropists in Asia who come from an entrepreneurial background and are keen to use business-measurement tools in their non-profits, says Christina Lee, head of philanthropy services, Asia-Pacific, at BNP Paribas. According to Ms Lee, clients use a range of impact-assessment tools, including surveys, data banks, logic models or theories of change and nuanced impact assessments.
Such methods are still taking root among Asian philanthropic organisations, notes Dien Yuen, founder of the San Francisco-based Asian Philanthropy Forum, which brings together thought leaders in organisations working to improve the quality of life and sustainability of Asian communities. “Measuring impact is only beginning now at the ground level,” she says.
With so many in need, charitable foundations and NGOs cannot sit on the side-lines while experts refine and experiment with measurement tools. “If we only pursue hard facts and quantitative figures, we might miss the most crucial factors behind an organisation’s success or failure.”
Europe and the United States set the pace in devising new approaches to impact measurement, particularly in venture philanthropy, a fledgling trend in Asia.