NCSS launches inaugural Sustainable Philanthropy Framework

MANY companies have shared that it remains challenging to concretise their contributions, particularly to social needs, Masagos Zulkifli, minister for social and family development and second minister for health, said on Wednesday (Jul 24).

Speaking at the Singapore Apex Business Summit, he noted that when he met Singapore Exchange-listed companies as well as small and medium-sized enterprises last year, a common question was: “What exactly is the ‘S’ in ESG (environmental, social and governance)? How do I know I am doing it, and how do I measure it?”

He said: “For if there are no common handholds, then each corporate has to put language to the ‘S’ in the ESG in (its) own way. There would be no common language to track and demonstrate value to (the) shareholders and… stakeholders.”