Singapore Compact President’s speech at opening of Int’l Singapore Compact CSR Summit 2010

Speech by Ms Olivia Lum, President of Singapore Compact for CSR at the opening of the International Singapore Compact CSR Summit 2010 on 6th October 2010 at Resorts World Sentosa, Singapore. Welcome to the Second International Singapore Compact CSR Summit. To our overseas guests, welcome to Sentosa. Before we start this conference, on behalf of Singapore Compact for CSR, I would like to extend our deepest condolences to Minister Mentor Lee Kuan Yew and his family on the passing of his beloved wife. We will remember Mrs Lee who in her own quiet ways, modeled for us how to live and care for our community with grace and dignity. She has been a wonderful “Mother of Singapore” and we honour her with our gratitude and respect.I would like to thank our Guest of Honour, Dr Yaacob Ibrahim, for gracing this event. Responsible businesses have an important role in meeting the global challenge of climate change and other environmental issues. In Singapore, these are under the purview of Minister Yaacob. We are therefore privileged to have him as our Guest of Honour . Globally, the trends are clearly pushing for embedding socially responsible values and practices within the organisation. The move by the Singapore Exchange to encourage listed companies to do sustainability reports is therefore timely and will have a positive impact on Singapore companies. This year’s Summit will see three important initiatives: a. The launch of the ASEAN CSR Network; b. The inaugural CSR awards recognising good practices in 5 areas of CSR; and c. The publication of another book, entitled, “Socially Responsible and Sustainable: Perspectives and experiences of companies”. These initiatives together with ongoing ones will reinforce the CSR in Singapore and the region. ASEAN has recognised the importance of CSR not just to achieve the socio cultural objectives of the community but also to drive other ASEAN goals. An example is that the ASEAN Inter Governmental Commission on Human Rights will be using CSR to promote human rights and for businesses to recognise their role. Singapore Compact is pleased to support this regional initiative. We are honoured to host the first secretariat of this Network. We are committed to the growth of CSR values, in Singapore, the region and globally. We will try to make our modest contributions together with our partners. For the inaugural Singapore CSR awards, we received 58 entries and I am told that the judges had a difficult task deciding on the winners. I thank all the organisations that submitted entries and the judges for their contributions. I also wish to congratulate the winners and hope their best practices will encourage the growth of innovative CSR practices. Today, the publication we are launching is part of the CSR journey project we undertook. I thank the 10 participating companies and the researchers for their contributions. The addendum on the progress of the 10 companies that participated in last year’s journey will hopefully encourage others to embark on this journey. A question businesses will have to ask of themselves is whether they have increased profits by making others poorer. Have they caused harm to the environment in the process? Businesses through the products and services that they bring to the market, must improve the lives and the wellbeing of people and the environment. Businesses should become less of the problem and more of the solution. Businesses can be a greater force by working together with other stakeholders. For that I would like to invite more business leaders to join my colleagues and me in Singapore Compact. Since the Summit last year, our membership has grown by 43%. I hope we will see another big jump in support for the CSR movement after this Summit. Let me end by thanking the many people who supported us to make this Summit a success. Firstly, to our partners and sponsors, many thanks. All of you are listed in the Summit brochures and on the backdrop. We hope to have a continuing relationship with you as we take the CSR agenda forward. Next, I also want to thank all the speakers and moderators. Some of you have travelled a great distance. In particular I thank Mr Juan de la Mota for agreeing to deliver the distinguished lecture. He was unable to make it last year and we are pleased that he is here with us today. Most importantly, I want to thank all delegates and participants of this Summit together with those who worked behind the scenes to ensure everything runs as planned. In conclusion, I want to leave you with the message that the exercise of social responsibility will become the differentiating competitive advantage for a better future. It will benefit us all. I wish you success in your sustainability journey.

Speech by Ms Olivia Lum, President of Singapore Compact for CSR at the opening of the International Singapore Compact CSR Summit 2010 on 6th October 2010 at Resorts World Sentosa, Singapore.

Welcome to the Second International Singapore Compact CSR Summit. To our overseas guests, welcome to Sentosa.

Before we start this conference, on behalf of Singapore Compact for CSR, I would like to extend our deepest condolences to Minister Mentor Lee Kuan Yew and his family on the passing of his beloved wife. We will remember Mrs Lee who in her own quiet ways, modeled for us how to live and care for our community with grace and dignity. She has been a wonderful “Mother of Singapore” and we honour her with our gratitude and respect.I would like to thank our Guest of Honour, Dr Yaacob Ibrahim, for gracing this event. Responsible businesses have an important role in meeting the global challenge of climate change and other environmental issues. In Singapore, these are under the purview of Minister Yaacob. We are therefore privileged to have him as our Guest of Honour .

Globally, the trends are clearly pushing for embedding socially responsible values and practices within the organisation. The move by the Singapore Exchange to encourage listed companies to do sustainability reports is therefore timely and will have a positive impact on Singapore companies.

This year’s Summit will see three important initiatives:

a. The launch of the ASEAN CSR Network;

b. The inaugural CSR awards recognising good practices in 5 areas of CSR; and

c. The publication of another book, entitled, “Socially Responsible and Sustainable: Perspectives and experiences of companies”.

These initiatives together with ongoing ones will reinforce the CSR in Singapore and the region. ASEAN has recognised the importance of CSR not just to achieve the socio cultural objectives of the community but also to drive other ASEAN goals. An example is that the ASEAN Inter Governmental Commission on Human Rights will be using CSR to promote human rights and for businesses to recognise their role.

Singapore Compact is pleased to support this regional initiative. We are honoured to host the first secretariat of this Network. We are committed to the growth of CSR values, in Singapore, the region and globally. We will try to make our modest contributions together with our partners.

For the inaugural Singapore CSR awards, we received 58 entries and I am told that the judges had a difficult task deciding on the winners. I thank all the organisations that submitted entries and the judges for their contributions. I also wish to congratulate the winners and hope their best practices will encourage the growth of innovative CSR practices.

Today, the publication we are launching is part of the CSR journey project we undertook. I thank the 10 participating companies and the researchers for their contributions. The addendum on the progress of the 10 companies that participated in last year’s journey will hopefully encourage others to embark on this journey.

A question businesses will have to ask of themselves is whether they have increased profits by making others poorer. Have they caused harm to the environment in the process? Businesses through the products and services that they bring to the market, must improve the lives and the wellbeing of people and the environment. Businesses should become less of the problem and more of the solution. Businesses can be a greater force by working together with other stakeholders. For that I would like to invite more business leaders to join my colleagues and me in Singapore Compact. Since the Summit last year, our membership has grown by 43%. I hope we will see another big jump in support for the CSR movement after this Summit.

Let me end by thanking the many people who supported us to make this Summit a success. Firstly, to our partners and sponsors, many thanks. All of you are listed in the Summit brochures and on the backdrop. We hope to have a continuing relationship with you as we take the CSR agenda forward.

Next, I also want to thank all the speakers and moderators. Some of you have travelled a great distance. In particular I thank Mr Juan de la Mota for agreeing to deliver the distinguished lecture. He was unable to make it last year and we are pleased that he is here with us today.

Most importantly, I want to thank all delegates and participants of this Summit together with those who worked behind the scenes to ensure everything runs as planned.

In conclusion, I want to leave you with the message that the exercise of social responsibility will become the differentiating competitive advantage for a better future. It will benefit us all.

I wish you success in your sustainability journey.