Opening Remarks by Mr. Lim Boon Heng, Chairman, PAA, and Chairman, Temasek Holdings, at the Philanthropy Asia Summit 2025

Philanthropy at a Crossroads

Today, the choices we make are more vital than ever.

The world is witnessing a seismic change in the global order, one where rules-based globalisation and free trade are being challenged by rising protectionism and nationalism.

A multipolar world is emerging, fracturing longstanding alliances and multilateralism. Geopolitical tensions are heightening uncertainty. International aid is shrinking, leaving critical gaps in areas like climate adaptation, food security, and public health.

According to the World Economic Forum, Asia Pacific nations could lose up to 35% of GDP by 2050¹ due to climate change and natural disasters. This threatens to reverse decades of progress in the region.

Yet, there are signs of promise.

Governments are stepping forward. At COP29 in Baku, nearly 200 countries agreed to triple climate finance for developing nations – to US$300 billion a year by 2035². It’s still far from what we need to close the global financing gap, but it’s a step in the right direction. The broader goal is to scale public and private flows to US$1.3 trillion a year.

Philanthropy is also rising to the challenge. Not just to fill funding gaps, but to build cross-sector partnerships and scale solutions.

We are experiencing other tailwinds.

There is much potential to harness family office wealth attracted to the financial hubs of Singapore and Hong Kong. We are also witnessing a shift in giving: from isolated interventions to systemic solutions, from short-term grants to long-term investment, and from charity to catalytic capital.

Technology is accelerating this shift. AI and data analytics are enabling sharper insights. And digital platforms are making giving more accessible, efficient, and inclusive³.

Innovative funding models are gaining traction⁴. One example includes Temasek Foundation’s partnership with Abler Nordic to finance sustainable oil palm in Indonesia⁵. Another is the interest of philanthropic organisers and funders in deploying risk capital, such as in Singapore’s FAST-P initiative to support Asia’s green energy transition.

By aligning philanthropic capital with commercial or other funding pots, projects are then able to scale in impact. That is the reason why the PAS is once again co-located with Ecosperity Week, organised by Temasek. Both events are seeking to drive the sustainability agenda, each coming from a different lens.

But more and more, we are seeing the convergence of philanthropic and commercial efforts. It is my sincere wish that PAS and Ecosperity will be able to contribute towards a more sustainable and resilient future.

From Challenge to Opportunity

Asia is brimming with talent, innovation, and home to a growing ecosystem of changemakers. Across our region, we are witnessing significant advances, from expanded access to education and a rise in nature-based climate solutions, to growing community-driven innovation in healthcare and nutrition.

Many solutions are already in motion. PAA’s role is to support these efforts, strengthen them, and pull together the right partnerships to help them scale.

A Call to Action

This understanding has shaped our Summit agenda.