Social Investors in Asia embark on a new era to revive global and national economies through collaboration

TheAVPNGlobalConferenceputsunder-representedAsian voicesonaworld stagetoformnewpartnerships;withAsiaholding 63%oftheworld'spopulation and 42% of its wealth.

"This is the decade for action,the decade for decision," says NainaSubberwalBatra,CEOAVPN

Western models don't adequately address local issues - Asian leaders need to step up

Investors must allow investees to decide where best to utilise funds - local communities must be part ofsolutions

Impact investment is on a growth trajectory in SE Asia says MinisterLuhut BinsarPanjaitan

BALI,Indonesia,June 28,2022 -- The world's largest networking event for Social Investors in Asia,the AVPN Global Conference,has concluded in Bali,with the recommendations from the event to be handed to world leaders attending the G20 in Bali in November this year. One of the strongest themes to emerge from the event was that Asian voices have been under-represented on the world stage,despite Asia holding 63% of the world's population and42%ofitswealth,andthatthishastochangenowiftheworldhasanyhopeof reachingitsSDGgoals.

Pictured: Elizabeth Yee,Executive Vice President,Program Strategy at The Rockefeller Foundation,addressing the crowd at the AVPN Global Conference.

NainaSubberwalBatra,AVPNCEOsaid it was time to rethink how capital is accumulated and deployed in Asia because Western models of philanthropy don't adequately address local issues. The funding gap for achieving the Sustainable Development Goals has doubled since the pandemic,with Asian nations disproportionately affected,so she urged Asianfundstofill the gap and said the power dynamic must move to the frontline with those who best understand how to create impact in developing communities.

Declaring the Asian revolution has arrived,she called on Asian leaders to step up and leapfrogtheworld,saying,"Thisisthedecadeforaction,thedecadefordecision.Thisis our decade - the Asian decade."

Ms Batra's speech was followed by an opening address from Minister Sandiaga Uno,Indonesia'sMinisterofTourismandtheCreative Economy,whosaidthatblended and sustainablefinance would be key to developing back better from the pandemic. He also highlighted the importance of collaboration to ensure outcomes.

"This year is the starting era for the revival of the global and national economy,especially for the tourism and creative economy sector," Minister Sandiaga Una said. "I believe through our collaborations,we could use some of the opportunities of this philanthropic network to subdue the devastating impacts of the pandemic."

The event was held with the support of Kemenparekraf (The Ministry of Tourism and Creative Economy),with Minister Uno saying he hoped the conference would provide solutions and opportunities in terms of a sustainable and inclusive economy,to create a safe environment,increase productivity,stability and security and also to strengthen global leadership,especially in Asia.

Minister Luhut Binsar Panjaitan,Coordinating Minister for Maritime Affairs and InvestmentofIndonesia,said,"Over the last few years,impact investing in Southeast Asia has been on a growth trajectory Southeast Asia secured 298 deals with over USD 6 billion. Indonesia remains the largest market compared to other countries in Southeast Asia with 28% of the total deals by volume and 21% by value."

ProfessorBambangBrodjonegoro,Co-ChairoftheT20thinktank,saidtheG20wasstill dominated by its developed nation members but it was time to shift this dynamic.

"WehopebybeingthehostoftheG20,wecanshareavisionthatiscloser totheneedsof developing nations," he said.

Withpooledfundskeytosolvingmajorissues,AVPN,withitspartners,announced several new funds during the course of the Conference including:

USD 25m Gender Fund-whichwillbelaunched attheG20

USD 3m Sustainability Seed Fund withGoogle.organdAsianDevelopmentBank to help combat climate change through technology

USD 1m Maternal,Newborn,Child Health and Nutrition Fund with Chevron,Johnson& Johnson,QuantedgeAdvancementInitiativeandVitol Foundationto provide a healthy start for vulnerable babies and children

USD 1m STEM Fund withLenovoFoundation,XTCMarketsandBHP,toclosethe gendergapinScience,Technology,EngineeringandMathandensurewomen and girls have greater engagement in these courses and careers.

TheConferencealsosawthelaunchofnewplatformsandcollaborationstoensurethatthe recommendationsmadeduringtheeventleadtoaction thatwillcontinue todrivechange:

The AsianGenderNetwork (AGN)whowillworktowards amoregenderequitable worldbymobilisingcapitaltoimprove outcomesforgirlsandwomen;

The Asian Impact Leaders Network (AILN),launched in collaboration with Rockefeller Foundation,bringing together leaders from government,private sector andNGOstoprovideaplatformtocollectivelymaximise theirimpact;and

The Youth Opportunities Platform which will unlock and mobilise resources towardsyouthpromotioninAsiaandgiveyoungpeopleaseatatthe tablein creating the future they want to see.

IncollaborationwithEconomistImpact,AVPNlaunchedAdvancing Impact: A Road Map for SocialInvesting inAsia,areport offering10newprinciplesofsocialinvestmenttoprovide direction forsocialinvestorslookingtoincorporatetheSDGImpactStandardsintotheir work.

Oneofthe keylearningsthatemergedfromthe eventis thatsocialinvestorsmustgive greater autonomy to investees to use funding where and how it is needed,rather than just in'safe'projects Thegreatestlessons isthatinvestorsneedtobemoreaudaciousandbold andneedtotrustthepeopleonthegroundtounderstandwherethegreatest impactcan be made.

Therewasalsoafocusonmentalhealth,withAsiannations seeinganincrease inmental health issues,while stigma around mental wellness prevails in the region.

RichardHawkes,ChiefExecutive,BritishAsianTrustsaid,"Therearedifficultiesin measuringsuccessofmentalhealthinitiatives.Thisiswherephilanthropistsandsocial investors have a huge role to play where they support these developing ideas."

NeerjaBirla,Chairperson,AdityaBirlaEducationTrust(ABET)said,"Thebigchallengesthat we face in our world [on mental health is] is lack of awareness: [either] you're not aware what mental health is,...[or] you don't want to accept it,which comes from stigma and taboo."

With AVPN celebrating its 10th anniversary this year,delegates were excited to be back to face-to-facemeetingsaftertwoyearsofvirtualeventsandthebuzzandenergyattheevent were palpable. To keep up the momentum from the conference,AVPN will continue to host eventsthroughouttheyear,andencouragenewmemberstojointobecomepartofthe network.

For moreinformationontheconference:https://avpn.asia/conference/

AboutAVPN

AVPNistheworld'slargest networkofSocialInvestorsinAsia,withover600diverse membersacross33markets.Their missionistoincreasetheflowoffinancial,human,and intellectual capital towards closing SDG gaps in Asia. Through enabling collaborations between policy makers,family offices,foundations and the private sector; bringing to bear the field needs,knowledge,and policy environment; AVPN improves the effectiveness of capital deployed.

As organisers of the AVPN Global conference—the world's largest networking event for Social Investors in Asia—their focus is to put Asian voices at the forefront of global discourse; with the output of the convening to be added to the main agenda of the upcoming G20. The event is also leveraged by the Social Investor ecosystem to form and announce new partnerships,innovate catalytic funding vehicles,and ultimately move more capital towards impact.

Pictured: Dato' Shahira Ahmed Bazari,Managing Director & Trustee of Hasanah Foundation,giving an address at the AVPN Global Conference,about accelerating change through innovative partnership models.

Quotesfromhigh-profilespeakersattheAVPNConference:

LuhutBinsarPandjaitan,CoordinatingMinister,Maritimeand InvestmentAffairsof Indonesia -"AVPNplays avitalroleinthismissionbybringingtogether publicandprivate sector leaders from across the world to pool capital,technical assistance and policy influenceto unlockurgentlyneededresourcesinAsia."

Odo R.M Manuhutu,Deputy for Tourism and Creative Economy Coordination,Coordinating Ministry for Maritime Affairs and Investment - "Key is how to take advantage of a crisis and turn it into opportunity. We need to be open minded and build trust with the private sector and the philanthropy world to drive solutions."

Angela Tanoesoedibjo,Vice Minister of Tourism and Creative Economy - "AVPN Global Conference 2022 has encouraged a lot of discussions and collaborations that connect many stakeholders to move collectively towards fostering sustainable and inclusive growth."

ElizabethGillies,CEO,Menzies Foundation - "Deep collaboration involves moving out of silos. That's why uncovering new ways of working requires a deep level of trust. To be a founder in that space,you need to find all those places that are unsexy and build that foundation."

ElizabethYee,ExecutiveVicePresident,Program StrategyandChiefofStaff,the RockefellerFoundation-"Wecanfailfast,fixfastandgetbackoutthere again.Noneofthe challenges that we face today are easy. We need to turn the impossible to probable."

WeiNengWu,Executive Director,ChandlerInstitute ofGovernance-"Allgovernmentsand nations have their unique characteristics and capabilities,but there are similarities and it is important to learn and adapt best practices from different governments."

YibinChu,HeadofCommunityInvesting andDevelopment,AsiaPacific,Citi-"Weneedto invest inyouthatanecosystemlevel.Rightnowtheworkbeingdonetosupport youthisin silos."

ChrisAnderson,Curator,TED - Creativity. Audacity. Collaboration - "These are the three keystoinfectiousgenerosity.Weaskchangemakerstobereally boldandaudaciousand ask them to think about their dream project if money were not a hurdle. Then we pool together groups of donors - 20-30 people at a time. They have 2.5 days together. We preserve these plans on videos and pick the projects they are most inspired by."

NicolaForrest,Co-Founder,Minderoo Foundation - "Most communities have the idea that they know what their answers are. But perhaps they need those capabilities to build their capacity to help them realize their dreams. And I think that's the place for philanthropy."

VidyaShah,Executive Chairperson,EdelGive Foundation - "We mistook mistakes as failures. ...[but] you make small mistakes and you learn along the way.................................. and that's how you become catalytic."

VeronicaColondam,Founder&CEO,YCABFoundation-"Ourcommonalityisthatallofus workacross thewholespectrum [ofsocialinvestment]."

RomyCahyadi,ChiefExecutive Officer,Instellar-"Itoldmycolleagues,nowthatcovidis clearingtherewillbemoreconferences,butifwewereonlytogotooneconference,goto AVPN."

AnnaSkarbek,ClimateworksCentre/MonashUniversity-"The driversofdemandwillbethenetzerocommitmentsandhighquality transparentcredits. Now the role of philanthropists and investors is to kick start a high quality supply of carbon credits."

HarveyKoh,SeniorAdvisor,FSG-"Weneededmoreflexiblecapital tocomein,particularly attheearlystageofthedevelopmentof[new]modelsbeforethingswereprovenright,to really underwrite their early development and prove them out,so more mainstream capital could come in."

AdrienneDiCasparro,Director-DonorCommunity,TheAudaciousProject,TED-"Ifweare failing some of the time,are we being audacious enough."

ArnavKapur,Lead-Partnerships,India andSoutheastAsia,Bill&Melinda Gates Foundation-"Threetrendsthatareseeninthepostpandemictimes-Increase in collaboration,increase in digitisation and young entrepreneurs joining the giving bandwagon."

JacquelineNovogratz,Acumen-"Weneedtouseourcapitalandmoveit to where it's most needed and not just to where it's safest."

Dato'ShahiraAhmedBazari,Trustee and Managing Director,Yayasan Hasanah - "What is most significant is the value that we bring to the recipients in any partnership and collaboration. We should let go of egos and logos."

GeraldineChin,Head,Impact Networks,Singapore International Foundation: - "There is a huge amount of potential in young people in Singapore. Harnessing this potential is what we need to do in order to drive change across different areas,from climate change to culture."