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The Philanthropy for Better Cities Forum 2018 draws together some 1,400 delegates.

Jockey Club engages local philanthropic foundations in finding better city solutions

Following the much-lauded Philanthropy for Better Cities Forum 2018 (PBC Forum), organiser is eager to maintain the momentum through a series of exchange activities with local foundations.

In Partnership WithThe Hong Kong Jockey Club Charities Trust

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Convened in September by The Hong Kong Jockey Club Charities Trust, the second Philanthropy for Better Cities Forum attracted some 1,400 local and international attendees. A range of topics encompassing the role of philanthropy was discussed throughout the packed two-day event, addressing some of the most challenging metropolitan social issues of the 21st century.

The Forum was launched in 2016 and is the first event of its kind to be held in the Asia Pacific region. It serves as a major philanthropy stage on which local and international philanthropists, social entrepreneurs, policy-makers, opinion leaders and academics can gather to discuss the best approaches for helping metropolitan philanthropy achieve its goals.

The Philanthropy for Better Cities Forum 2018 proved so valuable that the Trust believes it vital that its work be continued. As such, the Trust is now working to link up foundations in Hong Kong through various events, so that parties wishing to find solutions to pressing social issues can make their voices heard.

In early November, the Trust co-organised two gatherings with local foundations in the Education Seminar Series 2018 to encourage knowledge transfer and facilitate network building. Participants included The Croucher Foundation and The Hong Kong Club Foundation.

The first seminar featured an inspirational discussion on the topic “Why are we so miserable when things are getting better?”. Two speakers from the world-famous London School of Economics and Political Science (LSE) were invited to share their views on social and environmental sustainability.

Dame Minouche Shafik, Director of LSE, addressed the current global challenges in economics and politics, offering a diagnosis of the social issues related to anger, insecurity and anxiety, before suggesting suitable public policy solutions. She observed that the Welfare State, which was established in the 1940s, was not working as intended anymore. A new system was needed that could cope with the fact that people were now living much longer than in past decades.

Notable academics Dame Minouche Shafik and Lord Nicholas Stern share the stage at the first seminar in the Education Seminar Series 2018.

On another note, Lord Nicholas Stern, Chair of the Grantham Research Institute on Climate Change and the Environment at the LSE, discussed various issues related to global environmental sustainability. The climate change specialist gave his views on what the world of finance and individuals could do to help build a world that was socially and environmentally sustainable. He believed the world should at least be able to offer future generations the same standards of life as we currently enjoyed.

A few weeks later, the Trust invited President of the Foundation Center, Bradford K. Smith, to lead another seminar on the topic “Fashion, tradition and innovation: What’s new (and what’s not) in philanthropy today”. The Foundation Center is a non-profit organisation that empowers people to understand and increase philanthropy’s ability to improve the world.

President of The Foundation Center, Bradford K. Smith, speaks on the many global trends shaping the field of philanthropy.

Smith explored some of the many global trends that were transforming the field of philanthropy, such as impact investing, online giving, donor-advised funds and crypto-currencies. He also discussed innovative ways of funding offered by foundations to increase the impact of technologies in a challenging world – for example the IBM Watson AI XPRIZE which challenges teams to develop and demonstrate how humans can collaborate with powerful AI (artificial intelligence) to tackle the world’s grand challenges.

Through these two networking events, the Trust hopes that, as with the Philanthropy for Better Cities Forum, seeds can be planted and different parties provided with new insights in addressing metropolitan social issues. At the same time, they will raise awareness of the various ways in which the sectors involved can create social impact.

About PBC Forum

At last year's PBC Forum, 67 prominent speakers shared their inspiring ideas centred on five main themes: Leveraging the Market, Sustainable Development, Maximising Impact, Youth & Creativity, and Health & Well-being.

Notable speakers included Professor Michael J. Sandel from Harvard University, who engaged the audience with his ‘Socratic moral debate’ in the keynote address, challenging the limits of markets in delivering social good.

Sharing inspiring ideas with the audience at the PBC Forum are three highly respected speakers: Professor Michael J. Sandel (left) from Harvard University, along with Nobel Laureates Professor Muhammad Yunus (centre) and Professor James J. Heckman.

Two Nobel Laureates also joined the Forum to give their opinions on solving future social issues. Professor James J. Heckman, of the University of Chicago, argued for early childhood intervention in families with disadvantaged backgrounds to deliver highvalue returns in later life for both themselves and society at large. Professor Muhammad Yunus, who launched a highly successful microcredit movement in Bangladesh that improved millions of poor people's lives and demonstrated the bankability of underprivileged people, galvanised attendees with his remarkable personal experiences in his drive for more effective social services. Both these respected figures share the same goal – to create a better society.

Decorated sports personalities Michael Phelps (third left) and Yao Ming (third right) join Jockey Club Chairman Anthony Chow (middle), CEO Winfried Engelbrecht-Bresges (second left) and other panellists for a photo following the session on Sports & Cities.

Also invited to the 2018 PBC Forum were record-breaking Gold Medal winner Michael Phelps and former top basketball player Yao Ming, who shared their experiences in setting up charitable foundations. The duo are role models in sports, and their voices reach far and wide. Meanwhile Jockey Club CEO Winfried Engelbrecht-Bresges encouraged all budding sportspeople to be more proactive about their role in giving back to society.

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