How the next generation of leaders can tackle philanthropy, sustainability and AI

An alternative system with plants and beyond

During the discussion about building a more sustainable food system, Blair Crichton, whose company is pioneering the production of a meat alternative using jackfruit, said, “The key is thinking about broadening the food system and thinking about the whole life cycle analysis of the food system.” He posited that regenerative crops, such as his company’s choice of fruit, can play a significant role in the longevity of the food system.

Read more: How this banker joined the sustainable food revolution and got his groove back

Is AI a friend or foe?

In Gen.T regional senior editor Chong Seow Wei’s fireside chat with Dean Ho, the pair discussed the biggest concerns surrounding the rise and use of AI. Ho, who believes that AI can be used to achieve greater precision in the medical field, said that aside from the highly discussed concerns around data privacy and the regulation of AI, a bigger concern is the lack of access to the technology for certain communities around the world.

“Access to AI is an issue. Digital literacy is a challenge in many parts of the world,” said Ho.

Building on a family legacy

In a panel, John Cheng was joined by Rehan Amarasuriya—the fifth-generation business owner of BP de Silva, the company behind The 1872 Clipper Tea—and the pair shared how they managed family dynamics and balanced tradition and innovation in business.

“Start with the small things. Pick up small projects that help you build your credibility and build trust with your elders,” said Amarasuriya.

Redefining luxury with a purpose

In their panel, Woo Qiyun and Stephanie Dickson discussed with moderator Alison Lim, BNP Paribas Wealth Management’s head of Southeast Asia Market, how they are leveraging the power of media and creativity to raise awareness about pressing climate and sustainability issues. They also discussed the relevance of luxury in the time of conscious consumption.

Tips on being an effective leader

In a fireside chat, Sapna Kewalramani Malhotra, the director of philanthropy at The Kewal Ramani Foundation and co-founder of Her Rise Above, shared several useful reminders for leaders. “Know your purpose, understand your organisation’s purpose and make sure those align,” she said. “Try to understand the complex problems [you hope to address], especially within the world of philanthropy, and their root causes.”

“When it gets uncomfortable, persevere through that discomfort and know that you are there for a reason. Also, ask why a lot and listen a lot.”

Succession in a family business

In a panel on succession planning for a family-owned company, BNP Paribas invited Eu Yan Sang third-generation leader Richard Eu and his eldest son, Richie, to share their experience. Eu Yan Sang is a more-than-century-old traditional Chinese medicine company with over 180 retail outlets across four markets in Asia, including Hong Kong and Malaysia. When Richard stepped down as group CEO of the parent company Eu Yan Sang International (EYSI) in 2017, he chose to pass the baton to a non-family member—and this remains so today. Richie is currently managing director of the mergers and acquisitions department at EYSI.

Read more: Why there’s always time for kindness in leadership, according to KonsultaMD’s Chelsea Elizabeth Samson

Sharing how the family maintains a healthy relationship with each other, Richie shares the importance of setting boundaries. He recalled a conversation with his late grandfather, a minority shareholder of EYSI: “We were sitting having lunch [one day] and he was asking me these very business-type questions. So I went, ‘Yeye, do you want to talk about business or do you want to talk about all the girls that I’m dating? (Laughs) Let's have a grandfather-to-grandson conversation, not a shareholder-to-employee conversation.’ And our relationship is a lot healthier because of that.”

Cherry Ng, head of wealth planning Services APAC at BNP Paribas Wealth Management, who was also on the panel shared tips on how families can start the conversation about succession. “Discussions between family members should include the owners’ values, how they see the mission and vision of the family business, the current ownership structure, the shareholders’ agreement and the decision-making process,” she said. “You also have to let your next generation that they have a choice whether to take up the challenge [of taking over the leadership position] or not. You have to communicate and also respect their choice, whatever it is.”

Mae Anderson, head of Philanthropy Services Asia at BNP Paribas Wealth Management, also gave a short presentation on navigating the region’s cultural renaissance and evolving philanthropic landscape, while BNP Paribas’ Garth Bregman and Prashant Bhayani gave an insightful brief on the macro investment landscape and how the current geopolitical climate impacts this.

In addition to the talks, attendees partook in an interactive workshop where they learned about the risks and opportunities presented by climate change and the actions that if taken, can make a significant impact.

On the event’s second day, they also visited Block71, a global incubation initiative helmed by NUS Enterprise. There, they toured the space, which is home to more than 1,000 startups and heard from some of the founders about their ventures.

The two-day event concluded with attendees being shuttled to The Lighthouse at Fullerton Hotel, where they first played a game that highlighted the importance of investing in sustainability before gathering on the rooftop for a closing party, complete with cocktails, canapés and a beautiful panoramic view of Singapore’s cityscape.

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