PHILANTHROPY FOR BETTER CITIES FORUM 2024

The Hong Kong Jockey Club wrapped up its fourth and largest Philanthropy for Better Cities (PBC) Forum at West Kowloon Cultural District on Tuesday, Sept. 10. 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.

The second day of the forum saw the launch of the Commission on Asian Philanthropy. 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 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.