Across Asia, a new wave of second- and third-generation business heirs is redirecting family enterprises toward sustainable investments, challenging traditional profit-centric businesses.
Komal Sahu, Chief of Sustainable Finance at AVPN, the largest network of social investors in Asia, notes that younger generations are recognizing their family’s wealth as a catalyst for positive transformation. By integrating environmental, social, and governance factors into their investments, these heirs aim to drive positive change while maintaining financial viability.
Al Jazeera has shared three business heirs across Asia that exemplifies this:
In Malaysia, 27-year-old Abe Lim, an heir to a lubricant and cleaning products business, departed from her father’s profit-focused approach, despite being groomed to take over the company. Instead, she founded Purpose Plastic, successfully transforming discarded plastic into home decor and other products while emphasizing sustainability.
In some cases, the older generation encourages innovative thinking to secure the ongoing success of their businesses. The Lopez family in the Philippines, known for success in telecommunications and energy, divested from coal in 2016 to focus on renewable energy. Marianna Lopez Vargas, partnerships manager at the Oscar M Lopez Center, believes that a complete transition to renewables is achievable with the right incentives.
Singapore-based Fernando Scodro, responsible for his family office’s investment strategy, is educating his family about socially conscious investing, which leads to impactful investments like COGNI, a Brazilian startup focused on energy efficiency.
As these Asian business heirs redefine success, their commitment to sustainable investments signals a profound shift toward a more socially and environmentally conscious business landscape.
Featured Image Sources: Al Jazeera, Esquire PH, X
