Jockey Club closes fourth Philanthropy for Better Cities Forum, launches Commission on Asian Philanthropy

Nearly 100 eminent speakers and more than 2,000 delegates from 40 countries and regions joined the two-day event, including representatives of over 200 local, regional and global foundations. The PBC was convened by The Hong Kong Jockey Club's Charities Trust in association with the Institute of Philanthropy (IoP), a charitable organisation established by the Club and its Trust at the opening of the third PBC in September last year.

At the forum today, the launch of the Commission on Asian Philanthropy was announced in the first plenary session. The commission brings together influential philanthropic organisations as founding commissioners, including the China Soong Ching Ling Foundation, The Hong Kong Jockey Club Charities Trust, IDEAS Dompet Dhuafa Republika, King Khalid Foundation, The Nippon Foundation, Piramal Foundation, Rainmatter Foundation, Tanoto Foundation, Tata Consultancy Services and Tencent Charity Foundation. As a three-year initiative co-convened by IoP and the Asia Philanthropy Congress ("APHIC"), the commission will define the scope and opportunity of Asian philanthropy and establish an 'in Asia, for Asia' ecosystem to advance the professionalisation of the philanthropic sector in the region and unleash Asian philanthropy's full potential for social good.

Winfried Engelbrecht-Bresges, the Club's CEO and IoP Director, delivered the forum's closing address, echoing insights from forum speakers and underlining the importance of the Commission on Asian Philanthropy. "To fully leverage the collaborative power of philanthropy in Asia, this morning we launched the Commission on Asian Philanthropy. Convened by IoP and the Asia Philanthropy Congress and bringing 10 leading Asian foundations together, it aims to build an 'in Asia, for Asia' ecosystem and to expand the capacity of Asian practitioners. Crucially, it is committed to staying plural. There will be no one-size-fits-all. Rather, the intention is to learn from, and share, the rich diversity of Asian philanthropy."

The overarching theme of PBC 2024 was "Delivering impactful philanthropy in the real world". As an aid to discussions, the IoP shared two specially commissioned reports: "Examining Trust and Measurement in Asian Philanthropy," a joint publication by IoP and McKinsey & Company; and "High-Impact Philanthropy: Giving Better across Asia and the World," produced by the Bridgespan Group. IoP also shared a special supplement on impact measurement produced in collaboration with the Stanford Social Innovation Review.

The forum's first plenary session today was entitled "Launch of the Commission on Asian Philanthropy: The Asian Way of Giving: Unleashing the power of Asian philanthropy for a sustainable future." It featured a panel discussion between Her Highness Princess Nouf bint Muhammad AlSaud, CEO of King Khalid Foundation; Ichiro Kabasawa, Executive Director of The Nippon Foundation; Dr Gabriel Leung, the Club's Executive Director of Charities and Community and IoP Director; Haryo Mojopahit, Managing Director of IDEAS Dompet Dhuafa Republika; Aditya Natraj, CEO of Piramal Foundation; and Beili Shen, Vice Chairperson of China Soong Ching Ling Foundation. They explored emerging trends, opportunities, and pathways to further the professionalisation of Asian philanthropy and pave the way for enduring action and transformative change.

The forum's closing plenary featured a panel discussion on how investing in arts and sports yields a high social return on investment. It featured Dustin Lance Black, 2009 Oscar winner (Best Original Screenplay), American Screenwriter, Director and Producer; Tom Daley, gold medal-winning Olympic diver; Vincent Ho, 2023 LONGINES International Jockeys' Champion, Jockey, The Hong Kong Jockey Club; and Ruby Yang, 2007 Oscar winner (Documentary Short Subject), Director of the Journalism and Media Studies Centre, The University of Hong Kong. The session was moderated by Trisha Leahy, Member of Project MuSE Advisory Committee of The Hong Kong Jockey Club and former Chief Executive of the Hong Kong Sports Institute.

On 11 September, the IoP will convene its flagship Foundations Circle to foster dialogue, knowledge-sharing, learning and collaboration. With more than 55 global philanthropic organisations due to convene at the event this year, it is in line with the Government's mission to promote the city as an international philanthropy hub. Rounding out Hong Kong Philanthropy Week, the Hong Kong Academy for Wealth Legacy will host a three- day summit from 12 to 14 September.

The Club's support for the PBC Forum, like all of its charity and community initiatives, is made possible by its unique integrated business model through which racing and wagering generate tax contributions, charity support and employment opportunities for the community.

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The Hong Kong Jockey Club

Founded in 1884, The Hong Kong Jockey Club is a world-class racing club that acts continuously for the betterment of our society. The Club has a unique integrated business model comprising racing and racecourse entertainment, a membership club, responsible sports wagering and lottery, and charities and community contribution. Through this model, the Club generates economic and social value for the community and supports the HKSAR Government in combatting illegal gambling. In 2023/24, the Club returned a total of HK$40.1 billion to the community. This included HK$29.9 billion to the HKSAR Government in duty, profits tax and Lotteries Fund contributions and HK$10.2 billion in approved charity donations. The Club is Hong Kong's largest single taxpayer and one of the city's major employers. Its Charities Trust is one of the world's leading charity donors. Please visit www.hkjc.com.

Institute of Philanthropy

The Institute of Philanthropy was established in September 2023 through a strategic seed grant of HK$6.8 billion (US$870 million) from The Hong Kong Jockey Club and its Charities Trust. Established as an independent "think-fund-do" tank for China and Asia, IoP is dedicated to promoting philanthropic thought leadership and enhancing sector capabilities at local, regional and global levels in collaboration with fellow funders. It seeks to provide an Asia-based platform bringing global stakeholders together to promote the betterment of societies everywhere.