Doing good to do well
Every action, effort and individual counts if we want to strengthen our social fabric and create an enduring legacy for future generations
AS COMPANIES do well, they also have the responsibility to do good.
For Standard Chartered Bank, our corporate purpose serves as our North Star, guiding the way we make decisions, and ensuring we leverage our resources to create positive impact that resonates with our brand promise – “Here for good”.
Our business sustainability thrives on society’s prosperity; we believe that when we invest our time, talent and resources for the good of our communities, we unlock untapped potential that in turn drives sustainable economic growth in our markets.
It is no different in Singapore. As one of the oldest banks, and the first international bank to be accorded enhanced Significantly Rooted Foreign Bank privileges by the Monetary Authority of Singapore, we have been very focused on doing good to do well since we first set up shop in the Lion City 165 years ago.
This is why we are proud to be an early adopter of the National Council of Social Service’s (NCSS) Sustainable Philanthropy Framework, which was launched earlier this year to encourage businesses of all sizes to take a sustained and long-term approach to philanthropy.
We can do well only in close collaboration with like-minded stakeholders, including government agencies, non-profit organisations, as well as our clients and employee volunteers, who share our common goal of building an inclusive and resilient society.
A NEWSLETTER FOR YOU
Friday, 2 pm
Lifestyle
Our picks of the latest dining, travel and leisure options to treat yourself.
Keeping seniors connected in the digital world
In an ageing society such as Singapore, empowering the elderly to adopt technology is critical for their social and economic inclusion.
Recognising this, the bank made a S$2 million contribution to the Digital for Life Fund by the Infocomm Media Development Authority in 2021, to build a digitally inclusive society where digital technologies and opportunities are made available to all. We organised the Gardens “Byte” the Bay event in June, as part of Standard Chartered’s global employee volunteerism month, where I joined 1,000 of my colleagues to spend time with more than 1,200 seniors, aged from their 50s to 90s, and taught them how to connect to Wi-Fi, use mobile apps and plan their daily commutes using their smartphones.
In addition, my co-workers volunteer at monthly digital clinics where our seniors are taught how to use digital tools confidently and protect themselves from online scams, as part of our participation in Project V, a structured corporate volunteering initiative by NCSS and the National Volunteer and Philanthropy Centre (NVPC) to encourage sustainable volunteering at scale among businesses.
As our community needs evolve digitally, we all have a role to play to help everyone be included in the digital journey, and enable our senior citizens to live active and dignified lives.
Helping underserved women and families
Another segment of society we actively support as part of Futuremakers, Standard Chartered’s global youth economic empowerment initiative to tackle inequality and promote greater economic inclusion, is women from lesser-privileged backgrounds.
One of the initiatives to help these women learn, earn and grow is the Futuremakers Women in Entrepreneurship (WiE) programme. Through this collaboration with Singapore Management University’s Lien Centre for Social Innovation, we supported 20 female-led microbusinesses who were matched with mentors, networks as well as other resources needed to help them thrive.
The WiE initiative, which contributes to the advancement of the United Nations Sustainable Development Goal 5 to achieve gender equality, was implemented successfully in China, Malaysia, South Korea and Taiwan, and was named as one of the self-sustaining solutions for society and environment in the annual Steward Leadership 25 award this year.
Another Futuremakers initiative we concluded this year is the Family Empowerment Programme, in partnership with AWWA and Temasek Trust, where the bank provided S$750,000 in catalytic funding to support 75 lower-income families in their education, skills training and employment-related goals.
Promoting disability inclusion through sports
To build a truly inclusive society, we invited 200 runners and volunteers from our community partners, Runninghour, Special Olympics Singapore and imPAct@Hong Lim Green to participate in the recently concluded Standard Chartered Singapore Marathon, demonstrating the power of sport to unite our community. This year, we also brought back the Ekiden relay and gave out complimentary slots to corporate teams who committed to raise funds for Futuremakers, encouraging other companies to join us in supporting a good cause.
Employees at the heart of our community impact strategy
My colleagues and I are each given three days of paid volunteering leave every year. So far, over 40 per cent of our 9,000 employees in Singapore volunteered at least once for a cause of their choice and contributed over 31,000 hours of service to the community in 2024.
This culture of giving and volunteerism enhances employee satisfaction, builds camaraderie and provides a platform for leadership development. Among the many role model employee volunteers in the bank is Adaikalam Manickam, who started helping out at our Hari Raya Puasa food packing event in 2017, and is now a community champion leading multiple bank-wide festive food packing initiatives we run.
Beyond volunteering in events, many employees contribute their professional expertise to support worthy social causes. For instance, some of my colleagues are mentors to aspiring social entrepreneurs and are regulars at the digital literacy workshops we run for seniors. To date, they have contributed over 6,000 hours of their time in such skills-based volunteering activities this year.
Our commitment and recognition
Our commitment to corporate giving has been recognised. Among others, we are grateful to be named Singapore’s Best Bank in Corporate Responsibility by Euromoney and Champion of Good under the refreshed Company of Good recognition system by NVPC, accolades that affirm our contributions to the community service sector, and serve as a reminder for us to continue making a positive difference.
We are also honoured to receive both the Volunteer Partner and Charity Platinum awards from Community Chest Singapore (ComChest), NCSS’ philanthropy and engagement arm, with whom we partner closely to raise funds for Futuremakers and other initiatives in Singapore, thereby aligning our global programmes with worthy local causes.
Eye on 2025 and SG60
Next year is an important milestone for Singapore, as the little but mighty red dot celebrates her 60th year of independence. On our part, Standard Chartered will continue to work with our partners to deepen our community impact and benefit society.
For the 12th year running, more than 800 of our volunteers will participate in the annual Fu Dai initiative, a collaboration with ComChest and Heartwarmers, where we pack and deliver prosperity bags to seniors and families in need ahead of Chinese New Year. Additionally, we will also be embarking on a financial literacy programme for children from lower-income families. More details will be shared in the coming months.
Much work remains to be done, and I would like to invite more like-minded partners to join us in mobilising philanthropic capitals to create new programmes and opportunities to help those in need gain sustainable employment.
Every action, effort and individual counts if we want to strengthen our social fabric and create an enduring legacy for future generations. Put simply, to do well as a nation, everyone should first strive to do good.
The writer is CEO, Singapore and Asean, at Standard Chartered Bank
Copyright SPH Media. All rights reserved.
