Now’s the time: corporate philanthropy must stay relevant to stay impactful

[SINGAPORE] A business licence alone no longer guarantees relevance. To earn trust and longevity, companies today must also hold a social licence – the recognition that they serve a purpose beyond profit and can contribute meaningfully to society.

Corporate philanthropy has evolved into a strategic lever for long-term value creation – most powerful when it is relevant – meeting real needs, building resilience, and creating opportunities that last.

At Standard Chartered (StanChart), our purpose to drive commerce and prosperity through our unique diversity guides both how we do business and our corporate philanthropy approach. Our sustainability thrives on society’s prosperity – and that belief anchors our initiatives for the communities we serve, from empowering youth and women to advancing disability inclusion and digital access.

From charitable contribution to catalytic change

As the first international bank to be accorded enhanced Significantly Rooted Foreign Bank privileges by the Monetary Authority of Singapore and a Champion of Good conferred by the National Volunteer and Philanthropy Centre, we have been very focused on creating positive impact that resonates with our brand promise – Here for good – since our local inception 166 years ago.

We were among the first companies to adopt the National Council of Social Service’s Sustainable Philanthropy Framework, which urges businesses to take a long-term, systemic approach to giving. It aligns perfectly with our focus on creating enduring impact across five areas: equitable opportunity, education and skills, mental and physical well-being, financial resilience, and digital inclusion.

This ensures our efforts are strategic, measurable, accountable, and scalable. And it reinforces an important catalytic driver – philanthropy achieves its greatest potential when it is collaborative – 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 a more caring and inclusive society.

This approach is reflected in the work we do year-round where we are able to turn purpose into actions. For the 12th year, we partnered with Heartwarmers Volunteer Group and Community Chest where over 600 colleagues packed and distributed festive bags or “fu dai” for families in need. Another 550 StanChart volunteers participated in conjunction with Hari Raya Puasa.

These acts of care have also been affirmed externally. Our Charity Platinum and Volunteer Partner Awards from Community Chest acknowledge our sustained giving efforts, both in financial support and in volunteering engagements. We have also been conferred the AmCham CARES High Distinction Award by the American Chamber of Commerce in Singapore. These accolades serve as reminders of the responsibility we carry – to sustain our efforts in strengthening social inclusion and keep our philanthropy relevant in a fast-changing world.

Inclusion beyond symbolism

The call to inclusion must go beyond one-off events to sustained acts of advocacy.

SEE ALSO

Tapping partnerships and people to raise scam awareness

For over a decade, our volunteers have supported the Metta Welfare Association’s charity carnival, and for the third consecutive year, joined the Down Syndrome Association in a 100-strong contingent at The Purple Parade to celebrate and advocate for a community where people of all abilities can thrive.

We are the first commercial bank in Singapore to pledge as an Assistance Dog-Friendly Business as part of our commitment to breaking down barriers and increasing accessibility for our employees and clients. We are also accredited with the Enabling Mark Platinum – the highest national recognition for inclusive workplace practices.

Technology is only empowering when access is equitable – and closing that gap is critical to a more equitable future. Our support for Bizlink Centre’s digital inclusion programme through the Infocomm Media Development Authority’s Digital for Life Fund has helped 500 persons with disabilities and individuals recovering from mental health conditions build digital skills needed for employment. These are small steps that send a big message: accessibility and dignity must be the norm, not the exception.

Sport as a powerful enabler of inclusion

Sport has also been a powerful enabler of inclusion because of its ability to bond communities.

At Beyond Limits – an inclusive fitness event we co-organised with People Association’s imPAct @Hong Lim Green – athletes of different abilities trained alongside our volunteers at adaptive sport stations including rowing machines, kettlebell lifts, and mobility-based movement activities designed to empower individuals to move with confidence, regardless of physical ability.

In recognition of our efforts for this initiative, we received the People’s Association Community Spirit Award for championing inclusion through sport.

In addition, our volunteers have been training as fitness buddies to adaptive athletes from Runninghour, Special Olympics Singapore and iHLG for this year’s StanChart Singapore Marathon, where about 200 of them will be participating. These initiatives are clear reminders that empowerment begins with empathy in action.

Leveraging our diverse talent for community impact

Volunteerism is a defining part of our culture. With three days of volunteering leave that each of us can utilise, four in ten colleagues in Singapore have volunteered at least once this year, contributing more than 32,000 hours of service – including over 5,000 hours of skills-based volunteering. Colleagues shared their professional expertise with children, graduating youths, and women entering or returning to the workforce. They also empowered seniors in digital literacy, including scam awareness, so that seniors can safeguard themselves against common online scams while staying digitally engaged. During our global employee volunteering month in June, over 500 colleagues and their families supported the Ministry of Social and Family Development’s Families for Life national movement to help children and their caregivers from lower-income families build financial resilience at the National Family Festival.

Employees walking the talk

There are many role model employee volunteers in the Bank, from those who lead large-scale volunteering activations to those who lead smaller-groups skill-based volunteering initiatives; from those championing disability inclusion initiatives to those advocating for a more sustainable environment – these efforts are championed and sustained by colleagues on top of their day jobs. When employees give of themselves, they gain perspective – and purpose becomes personal. Volunteerism is more than service; it strengthens leadership, camaraderie, and shared purpose.

Catalysing impact across Asean

As the only bank present in most Asean markets, we are uniquely positioned to support cross-border philanthropy and sustainability. As Singapore marks 60 years of nationhood, we are deepening our efforts in this little but mighty red dot while extending our impact across the region.

We recently announced a US$6 million investment to help young people across Asean secure meaningful employment and improve their long-term economic prospects. The announcement was made at a client networking event attended by Minister for National Development Chee Hong Tat and StanChart PLC Board of Directors led by our Group Chair, Maria Ramos, and it is a firm demonstration of our longstanding commitment towards improving the economic prospects of under-served women and youth in markets where we operate.

Through the StanChart Foundation – the philanthropic arm of StanChart which has created more than 100,000 jobs for young people around the world since 2019, we will explore opportunities in the blue economy – a sector that holds promise not only for environmental sustainability but also for job creation and coastal community development. A second initiative, the Youth Employment for Success programme, will support women aged 18 to 35 from lower-income backgrounds through job-readiness and well-being training, in partnership with Daughters of Tomorrow and Community Chest Singapore.

The programme will run from now till 2028, during which the beneficiaries will receive job-readiness and well-being related training to help them build confidence and improve their employment prospects.

The flagship Asean blue economy programme, together with our industry partners, holds immense economic potential that we want to translate into tangible job opportunities to uplift youth employability in this vibrant region. Similarly, our partnership with DOT reinforces the Bank’s SG60 commitment, as we continue to make a positive impact on the community alongside our employees in Singapore.

Purpose as a competitive edge

In a world where trust in institutions is constantly being tested, clients, employees, and investors increasingly expect companies to demonstrate values through action. The writing is on the wall – purpose has become a true differentiator, it is our strategic advantage that guides how we invest our capital, time, and energy.

Impact is measured by relevance, and being “Here for good” means exactly that – showing up where it matters most and creating opportunities that help communities and economies grow. I invite more partners to work with us to mobilise catalytic capital and co-develop programmes that build a more inclusive and endearing future for generations to come.

Corporate philanthropy that endures is not always the loudest. It is one that listens, adapts and stays relevant. In doing so, it helps both business and society thrive in harmony.

The writer is CEO, Singapore and Asean, Standard Chartered, and board trustee, Standard Chartered Foundation