POTENTIAL AND PROSPECTS FOR PHILANTHROPY IN IMPLEMENTING POST-2015 DEVELOPMENT GOALS

Along with governments, businesses, and civil society, philanthropists have contributed their time and money toward the attainment of the Millennium Development Goals (MDGs). As the world moves toward the expiry of the MDG and toward Sustainable Development Goals, it is timely to take stock of the developments in philanthropy and consider how philanthropy can continue to contribute to the quest for sustainable development. This paper surveys the trends in philanthropy and the development of expressions and forms of philanthropy in Asia. First, the profile of philanthropists in Asia has changed over the years. With rising wealth, philanthropic giving has been increasing. The number of givers has been growing and philanthropists are giving at a younger age than before. Second, philanthropy has evolved from direct charitable giving to more strategic giving, to the funding of social ventures, and to giving with like-minded others in giving circles. Crowdfunding has also provided alternative platforms for giving. Third, corporate philanthropy has gone beyond donations to volunteer programs, inclusive business models, and shared value. To achieve their goals, philanthropists have also supported and collaborated with other organizations and groups, such as social entrepreneurs and connectors—organizations that bring givers and causes or beneficiaries together. The paper concludes with recommendations on how the potential of philanthropy in all its forms can be harnessed for sustainable development in Asia.