Last week I had the opportunity to present the findings from CAPS' recent analysis of the challenges and opportunities for creating a regional hub for philanthropy and family offices in Hong Kong. You can read the report on our website. Our team collaborated with the Better Hong Kong Foundation and the Asia Society Hong Kong to bring together some of the city's leading finance, policy and philanthropy figures for a lively discussion. The event received significant media coverage this article from South China Morning Post.
We were delighted to welcome Secretary for Financial Services and the Treasury Christopher Hui Ching-yu, who gave the keynote address. Secretary Hui provided an overview of the various tax incentives and other forms of government signaling that create an enabling environment for philanthropy in Hong Kong. The role of government and regulations forms a key pillar in CAPS' flagship study, the biennial Doing Good Index.
Best,
Ruth A. Shapiro Co-Founder and Chief Executive
Doing Good: The Latest in Asia
Korea to fine companies for greenwashing Under a new draft law, Korea will be the first Asian economy to fine companies for false or exaggerated green claims. But critics say the ₩3 million (US$2,300) fines fall short of what needs to be done. Read more about the crackdown on greenwashing here.
"Moonshot" philanthropy aims high Investment in high-risk, early-stage innovations that have the potential to achieve disruptive impact. This is the mindset of James Chen (Chen Yet Sen Family Foundation), whose focus on areas such as eyesight has seen him scale solutions for Asia and beyond. Read Chen's case for aspirational giving here.
Can ESG avoid being politicized in Asia? Unlike in the US, sustainability in Asia is still evolving and not yet being politicized, but this is a real risk to future development. Investors and regulators can avoid ESG becoming a partisan issue by agreeing on basic definitions, principles and standards. Read how Asia can chart a better course here.
Female directors required for Korean companies Korea's corporate boards will feature more women thanks to a new mandate for listed companies with assets of more than ₩2 trillion (US$1.5 billion). But even unlisted companies are taking notice, bringing more gender diversity to their boards, as explained here.
Celebrating 50 years of BRAC, the world's largest NGO Shameran Abed, Executive Director of BRAC International, reflects on the Bangladesh-based organization's approach to poverty reduction and uplifting communities, including through microfinance and education. Read more about BRAC's innovative (and replicable) approaches here.
Singapore: Public policy school's record donation A gift of S$101 million (approximately US$75 million) from the Low Tuck Kwong Foundation was bestowed on The Lee Kuan Yew School of Public Policy (National University of Singapore). The gift will support leadership and scholarship programs while improving Singapore-Indonesia relations. Read more here.
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