The ‘superpower’ of doing good

Unwittingly and inevitably, corporates that embrace their social mission are better positioned for success.

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By doing good, corporations get imbued with a valuable “superpower” – one that positions them for success by setting them apart in the highly competitive business world. Pixabay
PayPal's purpose statement is clear and meaningful : "to democratise financial services to ensure that everyone, regardless of background or economic standing, has access to affordable, convenient, and secure products and services to take control of their financial lives”. REUTERS

DeeperDive is a beta AI feature. Refer to full articles for the facts.

Jeffery Tan

Published Fri, Sep 2, 2022 · 09:30 AM

A DECADE ago, ESG (the environmental, social and governance elements of a business) was just beginning to be understood by corporations. It was only an incidental topic of conversation at management meetings and corporate gatherings.

Fast forward to 2022, the pandemic has propelled ESG to the forefront of corporate consciousness, making it a focal point of business. Today, it is considered by investors, policymakers and other stakeholders to be the essential elements that ensure the sustainability of a business.

Of the three elements of ESG, the ‘S’ (or the social) dimension is probably the element that is least prominent. As the ‘middle child’ in the tri-letter acronym, the ‘S’ is not well understood and often ignored, even as much attention is lavished on its other two ‘siblings’ – ‘E’ (environmental) and ‘G’ (governance).

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