"From Wealth to Purpose & Stewardship” Roundtable in Hong Kong

Sustainable Finance Initiative (SFi) and LGT Private Banking, co‑hosted an intimate roundtable in Hong Kong on “Wealth to Stewardship: Family Purpose,” featuring H.S.H. Prince Max von und zu Liechtenstein, Chairman and CEO LGT Group and Li Tan, Co-Founder and General Partner of Audacy Partners, alongside leading families, investors and advisors. The conversation was moderated by Katy Yung, Chief Executive Officer, Sustainable Finance Initiative and Mariam Ashroff, Head of Sustainability Management, APAC, LGT Private Banking.

Set against the backdrop of mounting climate risks, geopolitical uncertainty and accelerating technological disruption, participants discussed the shift from wealth preservation towards purposeful stewardship across the full spectrum of capital – business operations, investment portfolios and philanthropy. The discussion highlighted how next generation family members are challenging entitlement, building their own entrepreneurial track records, and using this experience to help their families evolve governance, strategy, and risk‑return‑impact expectations. Many of these journeys reflect the broader tension and opportunity between legacy and innovation, control and empowerment, preservation and growth, and fear and hope, as families explore what stewardship should look like in practice.

A recurring theme was the importance of values‑based family governance. Attendees shared how explicit family constitutions, shared purpose statements, and safe spaces for emotional and inter‑generational dialogue can transform conflict from something to be avoided into a catalyst for resilience, innovation and growth. Rather than treating operating companies, family offices and foundations as silos, some families have adopted an umbrella approach that aligns all activities with a common purpose, including climate and social objectives. It was also a useful reminder that many founding family businesses were originally built to solve real problems and shoulder responsibilities to their communities, often with a distinctly long-term mindset rather than purely commercial motivations.

Climate and energy transitions were framed as central to long‑term business resilience in Asia Pacific and globally, not niche “impact” topics. Case studies ranged from decarbonising industrial processes and turning wood waste into clean energy and biochar, to developing climate‑technology platforms that support regional decarbonisation whilst creating new commercial opportunities. Participants stressed that many legacy, resource‑intensive sectors in the region will need to transform rapidly, and that families with patient capital and deep sector knowledge are uniquely placed to lead this transition. There was also a clear recognition that developing countries will require locally tailored solutions and financing that is not driven solely by financial return, particularly as regions such as India and Africa, home to a significant share of the world’s population, grapple with both climate mitigation and adaptation needs. As one participant emphasised, "Climate tech is not an industry. It is the future of every industry." 

The roundtable also examined how families are blending different types of capital to respond to complex challenges. Instead of separating “return‑seeking” investments and “pure” philanthropy, some are deploying catalytic, blended or venture philanthropy approaches that can help early‑stage solutions become commercially viable over time. Impact was described as an additional dimension, alongside risk and return, requiring new tools, metrics and mindsets, but fully compatible with disciplined capital allocation. Several participants questioned whether the scrutiny placed on defining “impact” has been matched by a similarly honest re-examination of “risk” and “ return” in a rapidly changing world. The importance of speaking different “languages” to family members who wear different hats (founder, philanthropist, investor) also surfaced, with storytelling highlighted as a critical, and often under-developed skill for building consensus and buy-in around sustainability integration. There was acknowledgement that existing capital and governance structures can themselves become bottlenecks, and that families may need to experiment with redesigned frameworks better suited for long-term, impact-aligned decision-making. 

Looking ahead, participants reflected on the implications of AI, demographic change and evolving geopolitical realities for both markets and society. There was broad recognition that AI could accelerate climate and technological solutions, whilst also amplifying social disruption and inequality if left unguided. This underlined the call for new measures of progress beyond GDP and quarterly earnings, and for stronger collaboration between families, policymakers and financial institutions to embed sustainability and impact into the fabric of business and family life.

The session concluded with a shared sense of urgency, but also, optimism. Across the discussion, purpose, intent and stewardship emerged as steady anchors that can help families and societies navigate intergenerational transitions and structural shifts. Family enterprises in Asia Pacific – with their long-time horizons, entrepreneurial energy and deep community ties - have a unique opportunity to lead the transition from wealth preservation to purposeful stewardship. SFi and LGT Private Banking look forward to continuing this dialogue with our community in the lead‑up to the SFi Impact Summit in June and through future convenings across the region.