Leading figure in the Philippines’ social enterprise space, Professor Carlo Sagun (Bayan Family of Foundations), and founder of Asia Value Advisors Philo Alto, share how philanthropy and social enterprise can come together to help the Philippines move towards meeting the UN Sustainable Development Goals (SDGs).
In the past six years there has been an increase in efforts to strengthen the social enterprise ecosystem in the Philippines. This has been led by the Ayala Group of Companies working with us at Bayan Family of Foundations, alongside other leaders in the space to move things forward. It’s an important time to grow investment in businesses focused on social and environmental outcomes in order to help the Philippines work towards meeting the SDGs. Social enterprises (SEs) are uniquely placed to do this and we are glad to see work to help them grow.
Social investment in the Philippines
We are hoping that support from major businesses and philanthropic investment in this space continues to flourish and advance the social enterprise sector to help us meet the goals. There has been a good start with some important investments into the space. Since 2017 there’s been a modest USD $1 million (Php 58.4M) investment into the sector by the Bank of the Philippine Islands (BPI) Foundation (the foundation of BPI whose largest shareholder is Ayala Corporation). This has helped us at Bayan Family of Foundations to offer social enterprise bootcamps and grants, and, importantly, to develop a ‘National Social Enterprise Development Roadmap’. It means we have more direction as a sector. And, it has brought other supporters in to the space too.
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