For many, cocoa simply brings to mind hot chocolate or ice cream. But for Jonathan Chan, it represents something more profound.
Meeting smallholder cocoa farmers in Sulawesi, Indonesia, during a research trip was more than just an introduction to the crop — it was one of his first encounters with the people at the heart of the Centre for Impact Investing and Practice (CIIP)’s work. This experience was one of several defining moments in his journey of driving meaningful change.
Supporting Underserved Communities
At CIIP, a non-profit entity established by Temasek Trust to foster impact investing and practices in Asia and beyond, Jonathan conducts research to identify impactful sectors which currently lack private funding and where impact investors can more effectively direct their capital.
His work has spanned an array of areas such as sustainable agriculture solutions and initiatives, inclusive financial services, as well as supply chain initiatives for the environmental, social, and governance (ESG) transition.
The CIIP team with colleagues from Khazanah, Research for Impact, and Katadata Insight Center, in Jakarta for a focus group discussion on ESG awareness and adoption among micro, small, and medium-sized enterprises (MSMEs).
The CIIP team’s engagement with the smallholder cocoa farmers, in particular, helped to reinforce the very communities that CIIP’s work ultimately aims to benefit. It provided valuable insights into ways to boost farmers’ incomes, stabilise their earnings, promote sustainable regenerative agricultural practices, and strengthen their offtake relationships with larger customers.
More concretely, the trip also brought often-abstract concepts to life for Jonathan and his team. It was a firsthand reminder that behind every agricultural commodity — like the cocoa used in chocolate — are the farmers whose livelihoods depend on it and the labour-intensive work that sustains the supply chain. This was made all the more tangible by seeing and tasting the cocoa beans themselves.
The experience directly informed CIIP’s report on sustainable agriculture and its upcoming report on the supply chain in the food and beverage sector (To find out more about CIIP’s research and insights, visit their website.)
(Left:) Jonathan with Fay Choo, Asia Cocoa Director, Mars; and Akhil Khurana, CIIP; at a cocoa research facility in Sulawesi. (Right:) Jonathan and CIIP colleague Levonne Goh (second from left) visiting MET EV, an electric transportation company in Ho Chi Minh City.
A Career Shaped by Purpose
As an undergraduate in English Literature, Jonathan’s career path was not mapped out from the start. But his deep concern for marginalised groups, environmental issues, and social justice guided the choices he made — both in the roles he took on and the subjects he explored academically.
He was particularly drawn to issues such as income inequality, the climate crisis, and its disproportionate impact on vulnerable communities.
This passion led him to his first internship with the investment team at ABC Impact, a private equity firm dedicated to impact investing and part of the Temasek Trust ecosystem. After completing his English degree at the University of Cambridge, he returned to ABC Impact as an intern with the impact team.
Seeking to broaden his understanding of impact-driven work, Jonathan next interned at Temasek Trust, where he contributed to the conceptualisation of a centre of excellence for impact investing in the region. This initiative would eventually become his current workplace, CIIP.
"I am aware that our research is but one part of a broader solution, but I remain hopeful that meaningful research can help mobilise greater amounts of capital to areas of greatest need."
— Jonathan Chan, CIIP
While pursuing a Masters of Arts in East Asian Studies at Yale University, he was accepted into a fellowship with the Yale Centre for Business and the Environment, which helped shape his thinking on the intersections between sustainability and business.
Jonathan speaking at the Caixin Asia Roundtable on impact investment in Asia.
Beyond research and impact investing, he has also applied his commitment for social and environmental issues to teaching and nonprofit work, before joining CIIP.
His concern for the environment, the poor and the excluded, has also shaped the way he approaches poetry. Some poems that grapple with social and environmental challenges are present in his debut collection of poems, going home.
The book’s poems focus on his personal and familial history as shaped by migration, as well as the relationship between developing a sense of home and one’s immediate community and environs. The book was shortlisted for the Singapore Literature Prize 2024.
Jonathan with his book, 'going home'.
His second poetry collection, bright sorrow, set to launch in late April, takes a more direct lens to subjects such as climate change, war, and the Covid-19 pandemic.
Through both his professional work and creative pursuits, Jonathan continues to seek ways to address pressing global challenges.
Navigating Impact-Driven Work with Curiosity and Conviction
Jonathan believes curiosity, empathy, and compassion can help "sustain a protracted struggle against the seemingly intractable problems that continue to trouble our world".
For instance, those interested in nature may use their passion to fuel their work in sustainability or conservation. Those interested in humanitarian causes could channel their passions towards the goal of ending poverty and social exclusion.
A cohesive and coherent set of ethics and convictions are also necessary to engage in this field of work, while reading widely can help give insight into complex and interconnected issues surrounding climate, societal division, or systemic injustices.
"Fundamentally, I believe that those interested in sustainability or creating meaningful impact in their work should start from a place of care."
— Jonathan Chan, CIIP
Working Together for a Common Good
What attracted Jonathan to join the Temasek Trust ecosystem was the breadth of its network and reputational heft.
Tackling global issues, specifically the climate crisis, requires resources at scale and institutions that are keen to combat them. As part of the Temasek Trust ecosystem, CIIP is able to collaborate with a wide range of partners and stakeholders interested in their work.
CIIP and Quona Capital hosted the "Southeast Asia's Fintech Opportunity: Unlocking Financial Inclusion" panel.
Jonathan enjoys meeting like-minded regional and global partners who share the same mission and approaches.
“Our hope is that this thick network of partnerships will result in investments and initiatives that provide positive material outcomes for customers and stakeholders across social and environmental dimensions,” he says.
The CIIP and Co-Axis teams at the networking reception of the Impact Investing Roundtable 2024, organised by Temasek and CIIP.
Contributing to a Sustainable Future
CIIP aims to foster impact investing and practices in Asia and beyond, by building and sharing knowledge, bringing together stakeholders in the community, and bringing about positive action that accelerates the adoption of impact investing.
Visit the CIIP website and follow them on LinkedIn to stay updated.
'People of Purpose' is a series that spotlights colleagues across the Temasek Trust ecosystem who are driving meaningful impact — sharing not just what they do, but what drives them and how they work with partners across sectors to achieve common goals. Each story reflects the spirit of collective action and our shared journey toward inclusive, sustainable change.
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