Sun Life crowdsourcing financial literacy boosters
Riza Mantaring, CEO and country head of Sun Life Financial Philippines and chair of Sun Life Foundation
On the occasion of its 10th anniversary, Sun Life Foundation, the corporate social responsibility arm of Sun Life Financial Philippines, is posing a challenge: for Filipinos to help it find creative ways to elevate the country’s financial literacy.
Called the “Brighter World Builder Challenge,” the program is open to anyone with a proposal that could “elevate Filipinos’ financial literacy, especially [for] those on the margins of society,” said Sun Life of Canada (Philippines), Inc. and Sun Life Foundation president Alex Narciso at the organization’s 10th anniversary celebration held recently at the National Museum.
The program will be done in partnership with crowdfunding platform The Spark Project, with entries to be crowdsourced from interested participants (details are available on The Spark Project’s website).
“We’re giving a shout out to people who have ideas on projects focused on financial literacy, as it’s our company’s core competency,” said Narciso. “It’s our way of communicating, too, that we are entering the digital age, modernizing the foundation.”
Narciso added they were hoping to choose 10 projects by January, and subsequently fund the pilot phases.
In addition to the “Brighter World Builder Challenge,” Narciso said the foundation, moving forward, would be more “intentional” in the implementation of its programs.
“We have limited funds, and we want those funds to go where they can be of maximum benefit,” said Narciso. “We’re in the process of reviewing our direction, because right now we’re guided by our four pillars: health, environment, education, and arts and culture. Now we want to have one or two flagship projects for each [pillar] so the funds can be allocated accordingly.”
Under the education pillar, the foundation’s current institutional beneficiaries are: Central Mindanao University, Father Saturnino Urios University, Mindanao State University’s Institute of Information Technology, University of San Carlos and the University of the Philippines’ Diliman, Baguio, Cebu and Mindanao campuses.
They also work with nongovernment organizations such as Children of Asia Philippines for a comprehensive education sponsorship program for elementary and high school students in Cebu’s slum areas; Children’s Hour, for the rebuilding of classrooms devastated by the earthquake in Bohol and supertyphoon Yolanda; and the Yellow Boat of Hope Foundation, for the provision of yellow boats to kids who would otherwise need to swim to attend school.
Under the health pillar, the Sun Life Foundation has partnered with the likes of Kythe Foundation to improve the quality of life of disadvantaged children dealing with cancer and other chronic illnesses; and La Proteccion de la Infancia, Inc. (Gota de Leche) to provide nutritional support and medical assistance to malnourished kids and those with disabilities, as well as pregnant and lactating women.
As for the environment and arts and culture pillars, the foundation works with the ABS-CBN Lingkod Kapamilya Foundation, Inc. (river rehabilitation and linear park development of Tumana-Malanday Creek in Marikina), the Bonifacio Art Foundation, Inc. (BGC Art Fest), and the Phinma Foundation, Inc. (for the design, development, construction and maintenance of a sponsored section in the Natural Museum of History).
With the aid of the Maranao People Development, Inc., Sun Life Foundation is also helping Marawi City residents affected by the armed conflict.
Aside from these four pillars, Narciso said the foundation would be aligning itself with the National Economic and Development Authority’s (Neda) AmBisyon Natin 2040 for the “collective long-term vision and aspirations of the Filipino people and for the country for the next 25 years.”
“[Neda] had a survey asking what Filipinos’ aspirations are. Three things came up: maginhawang buhay, panatag na buhay at matatag na buhay (to have comfortable, peaceful and stable lives). Given the nature of our business, we’re very much into these three things. If you plan whatever resources you have, and you have clear goals in life, you will go a long way,” said Narciso. “The foundation will be targeting the marginal sectors, because those who have the financial means are already being catered to by our main business. We want to widen our reach, because [the marginalized sectors] earn so little, and we want them to maximize their income with proper planning.”
