Adapting to COVID-19: The Changing Face of Philanthropy
11th June 2020 8:00am Singapore Time
- In the face of COVID-19 the philanthropy sector has had to rapidly adapt to the urgent needs of their grantees and broader communities. All panelists reflected on the importance of responding immediately with Leong Cheung of HK Jockey Club stating they focused on “speed over perfection”.
- Speakers elaborated on a few positive consequences of the COVID crisis, namely the rapid increase in digitalisation, a renewed motivation for multi-sector collaboration, and forcing mechanism for philanthropists and corporates to rethink how they are creating value, going beyond just financial contributions.
- Despite the overall positive tone of the panel, speakers cautioned of potential challenges ahead due to the long-tail effects of COVID and discussed how this feeds into the climate crisis and increasing natural disasters as well. This may be further strained by the expected reduction in philanthropic donations over the next year.