NVPC names about 300 organisations as Companies of Good in 2024
It now uses a new recognition system that is more inclusive and holistic to assess the companies
THE National Volunteer and Philanthropy Centre (NVPC) recognised 290 organisations as Companies of Good at this year’s conferment ceremony on Thursday (Jul 18).
The event took place at Raffles City Convention Centre with Deputy Prime Minister Heng Swee Keat as the guest of honour.
Tony Soh, chief executive of NVPC, said: “Since the inception of the Company of Good programme eight years ago, we have seen more businesses use their assets and capabilities for broader societal value creation and benefit.”
About 155 small and medium-sized enterprises (SMEs) were conferred this year – a significant increase from the previous ceremony’s 39 SMEs.
A more inclusive recognition system
This year, NVPC used the Company of Good (COG) Recognition System for the first time to assess the companies. This is an enhanced framework that goes beyond traditional metrics on corporate giving and tracks an organisation’s progress and impact across its corporate purpose and five key areas of people, society, governance, environment and economy.
There are now four tiers of recognition, from Company of Good - 1 Heart as the lowest tier to Champion of Good as the highest.
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At the event, 78 of the 290 organisations were labelled Champions of Good. This refers to outstanding organisations with multiplied impact for various stakeholders. Another 92 organisations were designated Company of Good - 3 Hearts.
At NVPC’s last conferment ceremony in 2022, 112 organisations were named Champions of Good. There was only one tier of recognition at the time.
Soh said: “We have revised the COG Recognition System to be more inclusive and progressive. This is to encourage companies to… progressively increase their efforts, contributions and impact over time.”
To qualify, companies had to complete a comprehensive questionnaire about their efforts across the five key impact areas.
“Companies are also required to submit quantitative data for their initiatives, set specific targets, outline multiplier efforts and provide recognised certifications,” added Soh.
On the same day, NVPC released the Company of Good 2024 Cohort Report, based on insights from the 290 conferred companies. In their last reported year, the companies donated a total of S$322.8 million to charitable purposes, and invested a total of S$10 billion in local businesses, through venture capital investments and obtaining shares in local companies. About 145 of them engaged in inclusive hiring, particularly from marginalised communities.
Making a difference to the community
One Champion of Good is SME and social enterprise Social Gifting, which specialises in gift-giving through an e-commerce platform. Through partnerships with organisations such as SG Enable, SPD and Rainbow Centre, it employs differently abled people and people at risk of social isolation, providing them with home-based assignments.
Valen Tan Husistein, adviser and founder of Social Gifting, said the SME’s philanthropic efforts have become “more structured over time”.
“Instead of simply performing well once, we create a framework and standard operating procedures, and implement tools to measure impact, gather feedback and strive for continuous improvement,” she added.
Sodexo Singapore is also a Champion of Good. The food services and facilities management company will collaborate with non-profit organisations for initiatives focused on women’s empowerment and feeding underserved communities.
Abel Ariza, managing director for Sodexo Malaysia-Singapore, said: “We expanded from employee-centric volunteering initiatives to client collaborations for social impact (for example, proposing inclusive hires when planning manpower for clients and onboarding social enterprises as vendors) and institutionalising sustainability in policies and processes (for instance, responsible procurement of palm oil and seafood to manage our impact on the environment and biodiversity).”
ABR Holdings, which operates more than 25 restaurant outlets under the Swensen’s brand, was named Company of Good - 3 Hearts. The group currently employs persons with disabilities and neurodivergent individuals in half of its stores, and is exploring sustainable food options.
Teo Tong Loong, group business development director at ABR and chief executive of Swensen’s, said: “In the space of inclusive hiring, we are constantly tailoring work scopes and training for individuals with special needs… By investing in eco-friendly practices, strengthening community collaborations and enhancing employee engagement, we aim to amplify our efforts.”
On the conferred companies this year, Soh added: “We hope that companies take this achievement as an acknowledgement and motivation to progress on their journeys towards actualising their corporate purpose goals and creating holistic impact in society.”
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