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Earlier at #PBC2024, Winfried Engelbrecht-Bresges and I delved into "Examining Trust and Measurement in Asian Philanthropy" – a joint publication by Institute of Philanthropy and McKinsey & Company. Having been deeply involved in Asian philanthropy, these insights piqued my interest - 🔹Growth of Asian Philanthropy: Approximately 75% of Asian foundations were created this century, compared to about 40% in the US and Europe. That's a remarkable boom in the institutionalization of philanthropy right here in Asia. 🔹Trust versus Measurement: Asia is actively embracing trust-based and measurement-focused giving. By not treating them as mutually exclusive, we're blazing a distinctive trail. 🔹Innovative Accountability: Asian institutions are at the forefront of a revolution in accountability. By combining trust-based giving with measurement-focused approaches, they are redefining accountability and empowering grantees along the way. So, what's next for Asian philanthropy? The opportunities are immense. 🔹First, capability building is the name of the game. The sector has a unique opportunity to professionalize and collaborate, forging ahead with training programs, social venture incubators, and other initiatives that propel the adoption of the latest best practices. 🔹Second, tech is a catalyst. We have a chance to leapfrog the old ways and really experiment with emerging technologies including AI, satellite imagery, blockchain. These tools – whether used to generate outcomes data or to interpret data and generate learnings – can amplify reinforce existing power dynamics among funders, grantees and other stakeholders, while supercharging impact delivery and enhancing measurement practices. 🔹Lastly, collaboration and shared infrastructure are force multipliers. By joining forces and aligning goals, philanthropy is not just building community; its bringing down costs for everyone and accelerating our collective impact. Asia's brimming with generosity, diversity, and tech. By marrying strategic, community-centric approaches with a balance of trust and rigorous measurement – all while building capabilities, leveraging tech, and fostering collaboration – Asia can unleash philanthropy's full power in the region. This is an invitation to reimagine what's possible. Asia's unique landscape presents an unparalleled opportunity to drive transformative change. This is Asia’s moment to craft a 'fit-for-purpose' Asian model, where trust and measurement go hand in hand for impactful, sustainable philanthropy. Let’s make philanthropy here extraordinary. Read the full report: https://lnkd.in/enM2mc-A #AsianPhilanthropy #SocialImpact #TrustAndMeasurement #ImpactfulPhilanthropy
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