Covid-19 shows businesses it is possible to do well while doing good

Gone are the days when companies would focus on doing well first before giving back through corporate philanthropy.

If there's one thing the Covid-19 pandemic has taught business owners, it's that it is possible to do well while also doing good - which aligns with non-profit organisation Brands For Good's philosophy that "the act of doing good in itself is a powerful business model".

"Covid-19 has exposed the fragility of our global economic system and changed the way businesses are run. We are more inter-related than we ever imagined and, in these uncertain times, we have to work together to build a like-minded global community that believes in creating a socially responsible future," says Mr Alan Ng, co-chair of Brands For Good and former founding president of the Intellectual Property Office of Singapore (IPOS) Society.

The Brands For Good movement, jointly organised by IPOS Society, International Intellectual Property Commercialisation Council (IIPCC) Singapore and CEO Asia, recognises local businesses committed to making a difference and celebrates the positive impact they have created.

Held virtually last year, the third edition of the Brands For Good awards presented a total of 25 awards to small and medium-sized enterprises. The winners, selected from among 80 applicants, were honoured in three categories: Leadership For Good (a new category for change makers who lead by example), Business For Good and Technology For Good.

Applicants were assessed by a panel of 15 judges led by Professor Su Guaning, President Emeritus of Nanyang Technological University and IIPCC board member, according to their social impact, mission and values, accountability and transparency, stakeholder engagement, and profit and growth.

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The people behind the solutions

One of Brands For Good's founding beliefs is the power of intellectual property as a force for good. It is not only a viable economic asset, notes Mr Ng, but also an instrument that inspires innovation for the betterment of human life.

"In the wake of Covid-19, we've learnt that science and technology can uncover big solutions. But these solutions don't just happen. They require conviction, and dedicated people and partnerships with countless toils, and probably countless failures, before they can make a significant difference," he says.

It is the same philosophy behind the theme "All-in for Digital Transformation" for the Asean Responsible and Inclusive Business Forum (ARIBF) 2020, organised by the Asean Responsible and Inclusive Business Alliance (ARAIBA), which seeks to promote a regional network of responsible, inclusive, resilient and sustainable businesses that focus on the triple bottom line: People, Planet and Profit.

Held in conjunction with Brands For Good 2020, ARIBF 2020 brought together business leaders across various fields to explore how organisations in the region can digitalise to transform their businesses and emerge stronger in a post-pandemic world. Panel discussions covered topics such as the new realities in the healthcare sector, fintech and financial inclusion, and harnessing technology to empower workers.

Participants were also given a virtual tour of Chinese tech giant Huawei's Innovation Lab, featuring its facial recognition and Internet of Things.

Moving forward, Brands For Good hopes to build on its Brands For Good CarbonCare®️ Label initiative, a collaboration between Brands For Good and sustainability consultancy Carbon Care Asia (CCA), which was first launched in Singapore in 2019 "to encourage businesses in the region to understand and reduce their carbon footprint", according to Mr Ng.

Its sister scheme, the CarbonCare®️ Label, was launched in Hong Kong in 2011 and has since been awarded to over 300 listed and private companies, government departments, public bodies, social enterprises and non-profit organisations.

Two organisations, Amozonia Pte Ltd and Totally Hot Stuff were recognised under the Singapore certification last year. Totally Hot Stuff took the first step in measuring their baseline carbon emissions, while Amozonia was the first company to be awarded the Brands For Good CarbonCare®️ Champion Label for achieving a verified reduction in their year-on-year emissions intensity.

Also in the pipeline are more programmes and projects with partners such as People's Association, Invention Convention, Fintech Academy, Asian Development Bank and Asean CSR Network.

To nominate your company for Brands For Good 2021, please visit https://www.brandsforgood. asia/join