-  Singapore stock exchange announces sustainability reporting policy and guidelines (read more)
-  A more challenging media environment for corporate Malaysia? (read more)
-  Lessons from the Pakistan: a role for business in disaster resilience (read more)

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday

The Singapore Stock Exchange has this weekend issued a policy statement on sustainability reporting and proposed guide for sustainability reporting for  its listed companies.   The press release that makes the announcement includes a link to the policy statement and guide and states that SGX is seeking feedback from the public on the adoption of sustainability reporting and its policy guidelines (closing date for feedback is 29 October).

The guide takes the why, how, where, who, what approach - which advocates the use of the Global Reporting Initiative (GRI). The policy statement provides the exchange's view of sustainability and how it should be approached within an organisation (the board is ultimately responsible).

An interesting extract from the policy is the statement below:
"The Exchange adopts a progressive approach towards the policy on sustainability reporting, which balances global and local developments. The policy statement sets the baseline for holistic reporting going beyond corporate governance to social and environmental aspects. We expect, with our statement, to generate awareness among listed companies, leading to acceptance and commitment to sustainability as an operating principle as well as to be reported on. As the pace of sustainability reporting gains momentum amongst issuers, the Exchange will review our policy on sustainability reporting to keep pace with global developments and will consider formulating formal rules to regulate disclosure if necessary."

This is a very welcome move by the SGX, it will be interesting to watch the response from the business community within Singapore in the coming months and the uptake of officially encouraged voluntary reporting that follows. Our recent research for ACCA examining reporting around ASEAN and the Asian Sustainability Rating (ASR) show that currently Singapore companies do not disclose as much as their counterparts in the region - will this change going forward?

 More on this in CSR Asia Weekly.

-  Who has your private information?
-  Communicating sustainability - a few guiding principles
-  Energy Efficiency - the case for Malaysian businesses
-  Third World workers' wage whining unlikely to spoil Canadian fashion discounts

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday

If you are planning on coming to our CSR Asia Summit, September, 14-15, please register fast. We are already at 80% capacity and expect a sell-out event. This year's Summit is the most exciting yet and includes innovative panels and workshops being held by some of the leading experts in the region. We have keynote speeches from senior executives at Citi, ANZ Bank, Sime Darby and Cathay Pacific. There are also pre- and post-Summit training events to maximise the benefits of your trip to Hong Kong. Details and online registration here.

Summit workshops topics include:

• Carbon disclosure
• Millennium Development Goals
• Climate change
• Disaster preparedness
• Asian transnational corporations
• Investor perspectives and ESG issues
• Community investment
• Sustainable value chains
• Corporate governance
• Developing a CSR strategy for your company
• HIV/AIDS
• Sustainable ingredients
• Reporting
• The Asian Sustainability Rating

 

-  Waste Management - the issues, opportunities and strategies for businesses
-  It's in the "jeans"
-  Letter to the Editor
-  Harnessing workers' dreams

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday

Following on to my blog yesterday it has been reported today that the Indian State of Orissa will "enact a law, making it mandatory for the corporate houses, operating in the state, to invest a certain percentage of their profit on peripheral development."  Whilst sadly a misrepresentation, it seems the new regulation is to be called a 'CSR law'.  A more accurate description, as I've argued in my blog below is that it is a CSR tax.  At minimum, it is, in the big picture of CSR, only one small element, that of community development. 

Whilst I'm sure some companies may feel that they would rather spend their money directly on local development rather than pay money to the local government to do this on their behalf, I'm sure there are others who are wondering that if they are to spend 10% of profits (as it mooted in this article) on community development, what exactly the responsibility of the local government is and who will be co-ordinating all of this expenditure and ensuring it has an impact?

For companies operating in Orissa, be warned, the Minister has outlined that companies are expected to spend the money on "infrastructure development, education, health and other sectors". 

No doubt there will be more to follow on this development in India.

This report in the Economic Times of India reports that the Indian government has asked all companies to provide details of their investments made as part of their corporate social responsibility (CSR) initiative during the last fiscal year.

Last December the Indian Ministry of Corporate Affairs introduced voluntary CSR norms - which were all encompassing and focussed on management holistic approach to CSR: 1. Care for all statekholders; 2. Ethical functioning; 3. Respect for workers' rights and welfare; 4. Respect for human rights; 5. Respect for the environment; and 6. Activities for social and inclusive development.  Most recently however, the Ministry has also encouraged companies to set up a separate 'fund' to cover expected CSR costs.  The report suggests that in discussions with Ministry representatives  ['that there was] a veiled suggestion that the government is looking to impose mandatory rules for companies to spend on their CSR, he said that in case companies failed to take voluntary initiatives, the government in consultation with the Planning Commission will consider making CSR spending a ‘mandatory exercise’.  

The desire to encourage companies to undertake CSR is obviously a good one - however,  there are warning signs emerging that India is heading the same way Indonesia did a few years ago with the creation of a CSR law, that effectively became a philanthropy tax, never had the support of business and still to this day doesn't have any implementing legislation.  CSR is about how you make the money, not how you spend a percentage of the profits.

-  Billionaires and their philanthropy
-  Migrant workers and human trafficking
-  Is biodiversity your business?
-  Phuket Tourism: Is it Sustainable for Phuketians?

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday

-  Women on Boards
-  China's trade union: Where to now?
-  An Asian Green Investment Bank - Malaysia Leading the Way
-  A new CSR mantra: Location, location, location

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday

In a very literal sense Thailand has introduced new guidance where companies need to do CSR in order to retain their licence to operate.  The National Telecommunication Commission has this week warned private operators that their 3G licences could be taken away from them if they do not abide by consumer protection laws.  The CSR issues companies are expected to manage covers issues such as junk mail management, consumer health and contingency planning.  This is another part of the general trend in Asia whereby regulators are expecting CSR as a minimum requirement in order to do business.

This Friday we will be officially launching the CSR Asia Tokyo office.   The launch is very kindly hosted by Bloomberg and cocktails follow the session in which Richard (CSR Asia Chairman),  Mr. Daisuke Shintani, Mr. Seji Kawazoe and Mr Peter Pedersen will all be speaking.  The session will be translated simultaneously and promises to be an interesting event.  Richard, Makiko and myself (Erin), hope that if you are in Tokyo you can join us for the event.  If you would like to know more please contact Makiko in our Tokyo office.

The CSR Asia Summit is now just two months away and spaces are filling up fast. There are keynote addresses from Cathay Pacific, Citi, Hong Kong Exchange and Clearing, ANZ and CPA Australia. Numbers are limited and the Summit on 14th and 15th September will the most innovative and cutting edge conference that we have organised.

Summit workshops topics include:

• Carbon disclosure
• Millennium Development Goals
• Climate change
• Disaster preparedness
• Asian transnational corporations
• Investor perspectives and ESG issues
• Community investment
• Sustainable value chains
• Corporate governance
• Developing a CSR strategy for your company
• HIV/AIDS
• Sustainable ingredients
• Reporting
• The Asian Sustainability Rating

Our innovative CSR Bazaar sessions will include shorter presentations on:

• Community investment measurement
• Water issues
• Biodiversity
• Consumer issues
• Communications for CSR

Half-day pre- and post-training  sessions include

• ISO26000
• Social media
• Carbon footprinting
• Measuring community investment
• Stakeholder engagement

 

-  Is religious intolerance the new racism? 
-  Companies neglecting biodiversity issues despite huge business opportunities 
-  The problem with traffic - the case of Malaysia
-  Shared Responsibility - how MNCs and SMEs can work together

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday.

-  Lonely workers and suicide: What can responsible companies do? 
-  FIFA fails to score at the World Cup 
-  The Heat is on: surging temperatures, power cuts and social responsibility in Vietnam?
-  Even a doghouse needs a blueprint: Part 2 - Partnership Design Assessment Tools & Tips

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday.

-  Sexual harassment in the Chinese workplace
-  Are trafficked humans and criminal labour brokers part of your supply chain?
-  Beauty is Only Skin Deep
-  Opportunities for CSR under the 10th Malaysia Plan

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday.

-  Dubai - SME stakes in CSR
-  Climate change, poverty and refugees: A 10 point agenda for business 
-  Key risks facing beverage industry

Announcement: The next issue of CSR Asia Weekly will be published on 23 June due to the Dragon Boat Festival holiday (16 June) in Hong Kong.

If you'd like to be included in our e-mailout list, click here to subscribe. We upload and email CSR Asia Weekly out every Wednesday.