Asia requires a flexible, conviction-led approach to philanthropy
A report released at a Jockey Club philanthropy forum in Hong Kong underscores both the sheer volume of giving in the region and the need for an efficient model
Why such a potent force for good needs to be harnessed effectively was addressed by Jockey Club chairman Martin Liao Cheung-kong at this year’s philanthropy summit. “We are gathering at a critical time,” he said. “Philanthropy is growing in importance because governments are no longer alone in confronting the world’s most profound challenges. Today, communities, businesses and civic society are all grappling with ever more complex social needs, demographic shifts, technological disruption and the pressing realities of climate change.”
The forum brought together about 2,000 delegates from across philanthropy, sport, government, business and academia. Liao said it had given the city a chance to showcase its credentials as a global hub while reinforcing its role as a bridge between East and West.
The Commission on Asian Philanthropy comprises 13 charitable organisations from 10 jurisdictions across the region, including the Jockey Club Charities Trust. The jurisdictions, including Hong Kong, mainland China, Singapore, Japan and Saudi Arabia, account for 70 per cent of Asia’s population and 80 per cent of its gross domestic product (GDP). Excluding the United Arab Emirates, whose data is not readily available, the commission’s interim report noted philanthropic giving across the other nine jurisdictions amounted to US$109 billion in 2024. The commission aims to develop strategies to “professionalise” philanthropic efforts at regional level.