Corporate Social Responsibility in Singapore: Awareness and Implementation

The awareness and implementation of Corporate Social Responsibility (CSR) in Singapore has been increasing over the past four years since the formation of the Singapore Compact, a national society promoting CSR in Singapore.

What is CSR? Some companies associate CSR with charity and philanthropy, but CSR actually goes beyond that. According to Singapore Compact:

Corporate Social Responsibility is essentially about businesses doing well and doing good at the same time. CSR is about the long term strategy of aligning business strategy and operations with universal values to achieve positive and sustainable outcomes for customers, suppliers, employees, shareholders, communities, other stakeholders and as well as the environment.

Through the implementation of CSR, companies can reap benefits and improve profits. Mr Koh Juan Kiat, Vice-President of Singapore Compact and Executive Director of Singapore National Employers’ Federation explains:

Adopting CSR brings intangible benefits such as a good reputation for the company, high morale among employees and improved performance and attracts investors. Employees will also take greater pride in their company and this will affect productivity.

In 2008, survey findings by the Ministry of Trade and Industry (MTI) show that out of the 507 Singapore-based enterprises surveyed, 40% of the respondents were aware of the term CSR. Of the CSR-aware respondents, two-thirds have implemented CSR activities.

To date, 240 organisations have joined Singapore Compact and are implementing CSR practices. These organisations include large corporations, SMEs, co-operatives, unions, federations and NGOs. In addition, 70 companies have signed up as signatories to the United Nations Global Compact (UNGC) network in Singapore.

Despite the growing awareness and implementation, CSR in Singapore is still in its infant stage and more needs to be done. As such, Singapore Compact will hold an inaugural International Singapore Compact CSR Summit from 6 to 7 October at Orchard Hotel. The conference will cover topics such as:

• CSR and the Community: The Role of Corporate Foundations
• CSR Global Trends
• CSR: Strategy for Sustainability and Success
• Investor’s Perspectives on CSR
• CSR and Sustainable Development – The Environment and Beyond
• CSR – what can be done?

This is a good and timely opportunity for your company to understand more about CSR and how to implement CSR in your organisation. Visit http://csrsummit.csrsingapore.org/ for details and registration.

Interview with Thomas Thomas, Executive Director, Singapore Compact for CSR

This interview with Thomas Thomas, Executive Director, Singapore Compact for CSR, is submitted by the organisers of the International Singapore Compact CSR Summit.

1. What are your hopes for International Singapore Compact CSR Summit that will be taking place from 6-7 October 2009 at Orchard Hotel?

I hope that there will be a surge in CSR awareness and implementation in Singapore and this will in turn act as an impetus for the region. The ideas and discussions leading from the Summit will motivate and ingrain the values and principles of CSR. It will result in better managed companies that take into account the interest of stakeholders and a better world for all. Read more

International Singapore Compact CSR Summit

October 6, 2009

to

October 7, 2009

Held at Orchard Hotel, Singapore from 6-7 October, the inaugural International Singapore Compact CSR Summit is the region’s premier educational and networking platform for leading professionals in raising the awareness and understanding of Corporate Social Responsibility (CSR) for sustainability and success in their organisation.

With the theme “Strategy for Sustainability and Success”, the event will explore on learning how to plan measure and implement Corporate Social Responsibility strategies in your organisation and discover best practices, sustainable development and excellence.

This timely conference brings together experts from various sectors to address regional and international trends in CSR, and also provide an opportunity for participants to network amongst professionals and thought leaders, and benchmark against proven best practices.

Who Should Attend:

• Business leaders
• Decision and policy makers
• Directors/managers
• CSR and HSE professionals
• Senior management executives
• Management consultants
• Union leaders
• Co-operative leaders
• Academics/researchers who are interested in elements of CSR and relevant international standards: corporate governance, environment, labour, supply chain, community investment, health and safety and many more

For more information, please visit http://csrsummit.csrsingapore.org.

Singapore Compact

10 Hoe Chiang Road

#22-01 Keppel Towers

Singapore 089315

Tel: +65-6827-6825

Fax: +65-6827-6802

Email: summit@csrsingapore.org

Event: The Future of Corporate Responsibility

November 25, 2008
12:15 pm	to	1:30 pm

Speaker: Jem Bendell, Director, Lifeworth Consulting, Associate Professor, Griffith Business School

Venue: Seminar Room 2-2, Level 2, Manasseh Meyer, Lee Kuan Yew School of Public Policy, 469C Bukit Timah Road, Singapore 259772

This seminar discusses corporate responsibility trends and the implications for research, policy and management. Details and registration at the LKYSPP website.

Round Up: Interviews with Pakistani executives about CSR and more

(This article is contributed by our guest writer, Saad Khan, and was first published in Social Bridges.)

Social Bridges presents a round up of interviews that we conducted with Pakistani executives to know what their companies are doing for the community and what’s their environmental and social footprint. It was really heartening to know that Pakistani corporate sector has started doing good for the society and are also trying to reduce their carbon footprints. These interviews were really very helpful in learning the CSR dynamics of Pakistan. Read more