“[These include questions like:] Where can I get quality information? Where can I look for the projects that can help me deploy the wealth and the non-financial capital that I have in the most meaningful way?”
Some next-generation leaders are trying to broach the topic with their family members, says Tan. “I have family dynamics I need to navigate; how do I have that conversation with daddy or mummy?”
To answer these questions, private banks have been approaching CSP Singapore, which has trained some 2,200 professionals across four markets on research-backed sustainable investing topics and approaches. “Yes, [we can] check off the IBF [requirement] that we need to send bankers for training, but alongside that, how can we ensure that our bankers are more confident in having conversations?”
Established in October 2021, CSP Singapore was set up to enable wealth managers and “activate” wealth holders, says Tan, who joined in April 2023.
See also: ‘Philanthropy should not be a band-aid’ for funding gaps: Philanthropy Asia Alliance CEO
Nearly 80% of CSP Singapore’s 2,200 trainees attended their training here; the others underwent their courses in Hong Kong, Dubai or London. By attending a CSP Singapore training session, private bankers can fulfil a programme requirement for Institute of Banking and Finance Singapore (IBF) certification.
CSP Singapore’s training head Ayesha Bohart says the courses help build bankers’ confidence “to start the first conversation” about sustainable investing, from identifying causes close to clients’ hearts to discussing their motivations.
But banks still see philanthropy as separate from their typical client services, says Tan in an interview at the AVPN Global Conference 2025 in Hong Kong.
See also: ABC Impact, DBS, UOB partner on US$110 mil sustainability-linked subscription loan facility
That said, “awareness has definitely shifted” throughout Tan’s two years with the non-profit.
CSP Singapore is one of three CSP entities around the world. “I think the pace is there for Europe and North America; they are much further down the line in terms of exposure,” says Tan. “Over here, you can say it’s nascent.”
Some 70% of businesses in the region are family-owned. Hence, Asians look at impact investing differently, says Tan. “Philanthropy is one [example], but impact can come in the form of innovating their businesses to be more sustainable for the future. Ultimately, it is to leave a meaningful legacy. For the Asian families we speak to, impact investing as a terminology may not land as smoothly as compared to the Western side.”
Instead, such families prefer terms like “future-proofing” their multi-generational businesses, Tan adds. “How can we ensure that the business can sustain to take care of our next generation?”
Read more about the AVPN Global Conference 2025:
‘Philanthropy should not be a band-aid’ for funding gaps: Philanthropy Asia Alliance CEO
Four Asian organisations among world’s top 20 ‘corporate givers’
