Move is to better measure social impact of companies’ philanthropic efforts for better social outcomes
MANY companies have shared that it remains challenging to concretise their contributions, particularly to social needs, said Masagos Zulkifli, Minister for Social and Family Development and Second Minister for Health, at the Singapore Apex Business Summit.
“When I met with SGX-listed companies and SMEs alike last year, this was a common question. What exactly is the S in ESG? How do I know I am doing it, and how do I measure it … For if there are no common handholds, then each corporate has to put language to the S in the ESG in (their) own way. There would be no common language to track and demonstrate value to (the) shareholders and… stakeholders,” he added.
The minister was speaking at the launch of the Sustainable Philanthropy Framework on Wednesday (Jul 24) at the Sands Expo & Convention Centre.
