“We’re looking at action-oriented partnerships, with resources, expertise and capabilities to drive impact. We’re looking at systems-level change, or catalytic philanthropy, with outcomes for greater impact,” adds Lim. To date, $1 billion has been pledged by over 80 global members and partners to catalyse collective action for good.

PAA’s early core members comprise the Bill & Melinda Gates Foundation, Dalio Philanthropies, Li Ka Shing Foundation, Tanoto Foundation, Temasek Trust, and four companies under Sinar Mas. With three focus areas: climate and nature, holistic and inclusive education, and global and public health, PAA members and other funders can access a curated list of calls to action (CTAs). Tapping on philanthropic capital, these CTAs provide opportunities to test out innovative models to drive positive climate and community change.

One such project is Decarbonising Rice by Temasek Life Sciences Laboratory. Rice production is both a victim and a contributor to climate change. Crop yields have decreased due to extreme weather events, thus affecting the livelihoods of farmers. Rice fields also emit methane, a culprit of climate change. “Temasek Life Sciences Laboratory is test-bedding a rice cultivation approach that reduces methane emissions while improving yields to sustain the livelihoods of rice farmers. It includes using resilient naturally-bred rice varieties, customised fertigation solutions and alternative irrigation methods,” says Lim. “The trials have been successful in India, and the team is scaling it in different places because of the different soil and climate conditions.”

On its part, PAA is building a new ecosystem through initiatives that catalyse and accelerate sustainability and impact. The first is the Asia Centre for Changemakers (ACC), which was launched last year to strengthen Asia’s philanthropic ecosystem. Supported by Temasek Trust, the ACC seeks “to empower philanthropists, advisers, public and private sector, as well as social entrepreneurs with the knowledge and ability to measure impact”.

Next, the Amplifier mentorship programme seeks to support impact-focused start-ups aiming for positive disruption. “This whole-of-ecosystem approach helps them bridge the valley of death and get ready for the next phase of institutional funding,” says Lim.

Meanwhile, a strategic partnership between Temasek Trust and DBS Foundation will unveil Co-Axis, the first digital catalytic capital marketplace to mobilise private investments towards solutions tackling the world’s environmental and social challenges. The beta version is set to launch in April.

Such an approach to transformative change, Lim says, sits well with the next generation of philanthropists in Asia, who are interested in sustainability and impact. “Sustainability in all sense of the word: green, long-term and recoverable grants, stretching every philanthropic dollar and, hopefully, recycling that dollar.”

So as the saying goes, “If you want to go fast, go alone. If you want to go further, go together”. Lim expounds, “The going together is something that we need more of. If you can pool the resources and capabilities, you can scale much quicker and help more people. You learn from each other and don’t need to repeat the same mistakes.”

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