Sustainability Reporting for Competitive Advantage

Sustainability Reporting is on the rise in Asia

noreply@blogger.com (Anonymous) — Mon, 26 Jun 2017 13:40:00 +0800

In conversation with Rajesh Chhabara, managing director of CSRWorks International who shares his views on current trends, challenges as well as his future hopes for sustainability reporting in Asia. This interview first appeared in the June issue of CSR Today published from Mumbai, India.

Q: What is the state of sustainability reporting in Asia?
Sustainability reporting is gaining traction in Asia. The number of companies which report is on the rise. We are also seeing a marked improvement in the quality of reports. However, the number of companies which don’t report is significantly higher than the ones that do. So clearly, there is much work to be done.

Q: What is driving sustainability reporting in Asia?
Early adopters started producing sustainability reports to reflect their leadership in responsible business practices. Their peers and competitors began reporting as they did not want to be seen as a laggard. More recently, regulation has become the main driver for those who refused to report voluntarily. Many stock exchanges in Asian countries, including India, Malaysia, Hong Kong, Taiwan, Thailand, China and Singapore have made sustainability reporting mandatory for listed companies. This will result in a dramatic increase in the number of reporting organisations.

Q: Why are regulators taking an interest in sustainability disclosure?
Regulators’ intervention reflects the interests of stakeholders in general. Stakeholders expect businesses to disclose how they manage their social and environmental impacts. In recent years there have been many incidents worldwide where businesses have been accused of putting profit before people and planet. This has created a deficit of trust between businesses and stakeholders. Regulators are making an effort to hold businesses accountable by enforcing disclosure.
Stock exchanges are also under pressure from investors who are increasingly wary of risk surprises emerging from potentially irresponsible business practices by companies they invest in. Increasingly, investors are assessing companies’ long term ability to create value by appraising their approach to managing social, economic and environmental risks. They require full disclosure by companies to evaluate how it is addressing sustainability risks and opportunities.

Q: Is regulatory compliance an effective approach to get companies to adopt sustainable business practices?
Probably not. Regulation should be the last resort. Ideally, companies should report voluntarily and consider sustainability a key element of their overall business strategy. If companies see sustainability reporting as a form of compliance, too often they fail to see the benefits which come with adopting it. Sustainability reporting should be seen as an important strategy for competitive advantage.

Q: What are the common topics that Asian companies report on?
Companies in Asia tend to be strong on community work, charity and philanthropy. Thus, there is more emphasis in these areas in their reporting, which may not necessarily be linked to their business strategy, or may not align with their business goals. There is less focus on those issues which would be more strategic to their businesses, making sustainability reporting more beneficial for business development. However, there is a clear change in the air. There are several companies who have taken a more strategic view of sustainability and value creation. Many of them now have world class reporting on topics such workplace practices, climate change, environmental health and safety, customer experience, anti-corruption, human rights and diversity, just to mention a few.

Q: What do you say to those who think sustainability reporting is a Western concept and not relevant to Asia?
There are always skeptics, and they would want to say that. But Asian businesses operate in a global market and all markets are inter-connected. Even though the trend of sustainability reporting started from the West, there is no reason why we should not follow it here. The reason that the sustainability reporting concept emerged from the West is perhaps because consumers and stakeholders there are more aware of what firms are or are not disclosing. As such, they demand responsibility and accountability from these companies. In turn, firms are responding to these demands and expectations, and this is why they started disclosing information. However, in Asia, this demand is not coming from local stakeholders and consumers yet, because of lack of awareness. But I believe this will change. Young generation in all Asian countries are more aware, more global and they will be more vocal. They will demand responsible products and services as well as responsible behavior from companies they patronize. It will change here, and it will no longer be just a Western idea.

Q: Is sustainability reporting useful for small businesses?
There are many benefits that small businesses can look forward to. For example, if a small firm wants to start business relations with multinational companies, they will need to have sustainability programs in place. If these small firms want to internationalize their business, enter consumer markets in other parts of the world, they will need these credentials because consumers in these markets are highly aware and will expect companies to act responsibly. Another important advantage is access to capital. Small businesses generally have very low access to capital and usually fall under the radar of analysts. But reputation as a sustainable company can increase their visibility to more investors, especially with investors who take into account sustainability performance, such as SRI funds. This helps small businesses open new doors to capital by establishing themselves as firms committed to sustainability.
Another example, if a small business is a significant consumer of energy, focusing on becoming more energy efficient will save cost for them in the long run, and any saving in cost will help them to be more competitive.

Q: It definitely sounds appropriate for small firms to take up sustainability reporting and disclosure as soon as they can. However, what are some difficulties or concerns small firms might face when producing their first sustainability report?
The first challenge will be resources. Producing sustainability reports is a new area, so quite likely there will be no in-house resources. Hence, there will be a need to hire an external consultant. There is a cost to this and small businesses are inclined to be sensitive to any additional costs. Sustainability reporting might seem like a luxury to them, especially if one cannot see any immediate benefits. There is a clear gap of awareness and this lack of awareness poses as a barrier.

Q: If cost and resources are main obstacles for small firms, how do you think firms can set out on their first sustainability report?
Definitely small firms can embark on sustainability reporting by starting small. There is no need to produce a large report initially. There is a perception that only large companies produce reports, and their reports often look overwhelming and intimidating. But they have the resources and experience for reporting for many years. In the case of small firms, they don’t have to strive to produce lengthy reports. The key is to understand the process, identify 3 to 5 issues most relevant to their business, in terms of risks or impacts or opportunities, and just focus on these few things in the beginning.

Q: CSRWorks is organizing Asia Sustainability Reporting Summit in September in Singapore. What prompted you to start this conference?
The Asia Sustainability Reporting Summit is the first regional conference here. We noticed the need for a regional platform for businesses and other stakeholders to come together to have a meaningful conversation about reporting. We have a growing sustainability reporting community in Asia and the Summit offers them an excellent platform to learn, share and network with each other. This Summit is also an extension of our hugely popular Asia Sustainability Reporting Awards, where we hope to showcase the excellent work from our winners and finalists. The Summit will be addressed by an impressive line-up of well-respected sustainability reporting leaders. This is an unprecedented opportunity to learn from the experts.

Q: What are the main topics for the Summit?
The Summit agenda includes almost all aspects of sustainability reporting. My favourite sessions are going to be the ones focused on how to develop best-in-class sustainability reports, how to develop your first sustainability report, how to report on Sustainable Development Goals (SDGs), what do investors expect from sustainability reporting, and how to report on inconvenient topics!

Q: Can you share with us more about the Asia Sustainability Reporting Awards?
We started the Asia Sustainability Reporting Awards to create the first, and the highest, regional recognition for reporting excellence. We had compelling reasons for doing that.
Currently, in Asia, companies which don’t produce sustainability reports overwhelmingly outnumber those which do. Our mission therefore is two-fold: one, to honour the leaders, and two, to encourage and inspire more companies to embrace sustainability reporting. We want to celebrate best practice in sustainability reporting.
We firmly believe that it is very important for Asian companies to disclose their sustainability performance to stay relevant to investors, customers, employees and community at large. A good sustainability strategy makes a company future-proof. An economy with lots of future-proof companies simply means better life for everyone.
Overwhelming response to the Asia Sustainability Reporting Awards proves that there is a strong need for a regional platform to showcase best practices and for benchmarking and peer learning. We are happy to have created this platform.
Last year, we received more than 450 entries from over 100 organisations from 16 countries in Asia. Our winners and finalists display high-quality reporting performances that have thoroughly impressed our independent panel of judges. We are already accepting entries for this year’s Awards, and it looks like a very promising year again.

Q: How has been the participation from India?
An impressive number of Indian companies have been regularly participating in the Awards. Quality of reports published by Indian companies is impressive. In fact, the performance of Indian companies at ASRA has been outstanding. A significant number of Indian companies have made it to the finals with several of them eventually winning. Past winners from India have included Arvind, YES Bank, Birla Carbon. Birla Carbon and Arvind have actually won awards in multiple categories which reflect their commitment to high level of reporting.
Other very promising reports submitted from India that I would like to mention would include Bharti Airtel, L&T, Vedanta, Shree Cement, Hindustan Zinc, Hero MotoCorp, Mahindra & Mahindra, and GAIL.

Q: How do Indian companies benefit by participating in ASRA?
Winning a reputed international award helps companies to build trust both at home and overseas among stakeholders which include customers and investors. Participation in ASRA allows Indian companies to show case their sustainability credentials to an international audience and boost their reputation. Moreover, winning awards motivates the teams which work hard to produce top class sustainability reports.

(This interview first appeared in the June 2017 issue of CSR Today, a pioneer magazine on corporate social responsibility published from Mumbai, India.)

To learn more about the Asia Sustainability Reporting Summit 2017, please visit www.csrworks.com/Summit

To learn more about the Asia Sustainability Reporting Awards 2017, please visit www.csrmatters.com

noreply@blogger.com (Anonymous) — Wed, 30 Nov 2016 10:15:00 +0800

Vietnam’s Baoviet wins Asia’s top sustainability reporting award

Hong Kong’s Hang Lung Properties clinches multiple awards

Singapore: Vietnam’s leading state-owned financial-insurance group Baoviet Holdings clinched Asia's Sustainability Report of the Year award at the just concluded 2016 Asia Sustainability Reporting Awards (ASRA). Baoviet also bagged Asia’s Best Integrated Reporting award.

Mr. Nguyen Anh Tuan, Baoviet's Deputy Chief Operating Officer
and Head of Corporate Strategy and General Affairs Division receiving the top
award from the British High Commissioner in Singapore H.E. Mr. Scott Wightman.

Hong Kong’s leading real estate operator Hang Lung Properties emerged as the biggest winner as it cornered three awards including Asia’s Best Sustainability Report (Stand-alone) award.

Other top winners at the 2016 ASRA included Singapore’s major telco StarHub, India’s textiles group Arvind, Singapore’s eco-hotel Siloso Beach Resort and Japan’s leading consumer products company Suntory Group.

Winners of the 2016 Asia Sustainability Reporting Awards were announced and honoured in an exclusive awards ceremony-cum-gala-dinner event in Singapore on 28 November 2016. The event was hosted by the British High Commissioner H.E. Mr. Scott Wightman at his official residence Eden Hall. Sweden’s ambassador in Singapore H.E. Mr. Håkan Jevrell was present as the Special Guest.

Awards in 16 categories were presented by the High Commissioner Mr. Wightman, the Ambassador Mr. Jevrell, and Ms. Camilla Fenning, the Foreign and Commonwealth Office's Head of the Climate and Energy Network for South East Asia at the British High Commission Singapore.

The event was attended by the finalists of ASRA 2016, and dignitaries from diverse fields including business, non-profit, embassies, trade associations, advocacy organisations and academics.

The winners received a specially designed plaque framed with recycled wood. The winner of the top honours, Asia’s Sustainability Report of the Year, received an exclusive golden plaque. All finalists received a merit certificate printed on FSC certified paper sourced from sustainable forests. In addition, the winners and the finalists will be authorised to use the privileged Asia Sustainability Reporting Awards Icons for branding purpose.

Printed edition of Sustainability Reporting: Learn from Asia’s Best, a special publication featuring the 2015 ASRA winners, was released at the event.

To encourage more Asian companies to embrace sustainability reporting, CSRWorks International, a Singapore-based sustainability firm, has created the Asia Sustainability Reporting Awards. The awards are CSRWorks International’s not-for-profit initiative, and is part of its own corporate responsibility programme.

“International recognition for sustainability reporting will help ASRA winners attract socially responsible investment,” said Rajesh Chhabara, managing director at CSRWorks International. He added, “A surge in investment by socially responsible investment (SRI) funds in Asia will spur long term sustainable growth led by businesses which respect the environment, people and communities and are yet profitable.”

Please see below the complete listing of winners.

The 2016 ASRA Winners

Asia's Sustainability Report of the Year
Winner: Baoviet Holdings, Vietnam

Asia's Best Sustainability Report (Stand-alone)
Winner: Hang Lung Properties, Hong Kong
Highly Commended: Olam International, Singapore

Asia's Best Sustainability Report within Annual ReportWinner: StarHub, Singapore

Asia's Best Integrated Report:Winner: Baoviet Holdings, Vietnam
Highly Commended: YES Bank, India

Asia's Best First Time Sustainability ReportWinner: Arvind Limited, India

Asia's Best Sustainability Report (SME)Winner: Siloso Beach Resort, Singapore

Asia's Best Online CSR CommunicationWinner: Suntory Group, Japan

Asia's Best CSR Communication within Annual ReportWinner: Salcon Berhad, Malaysia

Asia's Best Materiality ReportingJoint Winners: Qatar General Electricity & Water Corporation (KAHRAMAA), and Arvind Limited, India

Asia's Best Stakeholder ReportingWinner: Qatar General Electricity & Water Corporation (KAHRAMAA)

Asia's Best Environmental ReportingWinner: Hang Lung Properties, Hong Kong

Asia's Best Carbon DisclosureWinner: PT Pertamina (Persero), Indonesia

Asia's Best Supply Chain ReportingWinner: HP, Asia Pacific, Singapore

Asia's Best Community ReportingWinner: Singtel, Singapore

Asia's Best Workplace ReportingWinner: Trina Solar, China
Highly Commended: YTL PowerSeraya, Singapore

Asia's Most Transparent ReportWinner: Hang Lung Properties, Hong Kong

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More comprehensive information on the Asia Sustainability Reporting Awards can be viewed at: www.csrmatters.com

About ASRAThe Asia Sustainability Reporting Awards (ASRA) recognise and honour sustainability reporting leaders in Asia. The Awards celebrate best practices in sustainability reporting and communications. The vision for ASRA to become the most inspiring recognition of sustainability reporting excellence in Asia. The Awards are open to all types and sizes of private, public and non-profit organisations in all sectors who produce a sustainability report in Asia. An independent panel of judges with distinguished background judge the entries to decide the winners. www.csrmatters.com

About Organisers
The Asia Sustainability Reporting Awards are organised by csrmatters, a unit of CSRWorks International, Singapore’s leading boutique sustainability advisory, research and training firm with a successful track record more than 10 years. CSRWorks closely collaborates with businesses and other stakeholders to promote excellence in sustainability reporting across the region. Rajesh Chhabara, Managing Director of CSRWorks, has launched ASRA as a not-for-profit initiative to give organisations, large and small, the opportunity to showcase their sustainability efforts, thereby building trust among their stakeholders, adding value to their businesses and attracting socially responsible investors. www.csrworks.com

Supporting Organisations
The Awards are supported by diverse organisations representing governments, NGOs, academia, media and professional sectors keen on encouraging responsible business practices and sustainability disclosure in Asia, including the British High Commission Singapore, Embassy of Sweden in Singapore, the High Commission of Canada, the British Chamber of Commerce, the Canadian Chamber of Commerce, Vietnam Business Council for Sustainable Development (VBCSD), Sasin Centre for Sustainability Management and Systainability Asia among others.

noreply@blogger.com (Anonymous) — Sun, 23 Oct 2016 18:44:00 +0800

Asia Sustainability Reporting Awards 2016 Finalists
Singapore, 24 October: An impressive 68 companies from 14 countries have made it to the final round of the 2016 Asia Sustainability Reporting Awards. The finalists were shortlisted by the members of an independent judging panel. The winners will be announced at an exclusive awards night on 28 November 2016 in Singapore.
Hosted in Singapore, the Asia Sustainability Reporting Awards (ASRA) are the highest recognition for sustainability reporting in the region. ASRA, a non-profit initiative, aspire to become the most inspiring recognition for sustainability reporting excellence in Asia.
ASRA 2016 Awards will be given in 15 categories including Asia’s Best Sustainability Report (standalone), Best Sustainability Report within Annual Report, Best Integrated Report, Best Sustainability Report (SME), Best First Time Sustainability Report, Best Online Sustainability Report and Best CSR Communication within Annual Report. Other award categories include specialised areas of reporting, such as environment, carbon disclosure, stakeholder engagement, workplace, supply chain, and community commitment. The best overall submission will be named Asia’s Sustainability Report of the Year award.
A spokesperson from the ASRA Secretariat said, “ASRA 2016 have received a very strong participation from across the region and the participating organisations represent a wide range of sectors. There will be a tough competition for each category.”
Names of the finalists are available on the Awards website (www.csrmatters.com). The final round judging is underway.

About the Awards
The Asia Sustainability Reporting Awards (ASRA) recognise and honour sustainability reporting leaders in Asia. The Awards celebrate best practices in sustainability reporting and communications. The vision for ASRA to become the most inspiring recognition of sustainability reporting excellence in Asia. The Awards are open to all types and sizes of private, public and non-profit organisations in all sectors who produce a sustainability report in Asia. An independent panel of judges with distinguished backgrounds judge the entries to decide the winners. www.csrmatters.com

About Organisers
The Asia Sustainability Reporting Awards are organised by csrmatters, a unit of CSRWorks International, Singapore’s leading boutique sustainability advisory, research and training firm with a successful track record more than 10 years. CSRWorks closely collaborates with businesses and other stakeholders to promote excellence in sustainability reporting across the region. Rajesh Chhabara, Managing Director of CSRWorks, has launched ASRA as a not-for-profit initiative to give organisations, large and small, the opportunity to showcase their sustainability efforts, thereby building trust among their stakeholders, adding value to their businesses and attracting socially responsible investors. www.csrworks.com

ASRA Supporting Organisations
The Awards are supported by diverse organisations representing governments, NGOs, academia, media and professional sectors keen on encouraging responsible business practices and sustainability disclosure in Asia, including the British High Commission Singapore, Embassy of Sweden in Singapore, the High Commission of Canada, the British Chamber of Commerce, the Canadian Chamber of Commerce, Vietnam Business Council for Sustainable Development (VBCSD), Sasin Centre for Sustainability Management, Systainability Asia, Green Evangelist, Academy of Fashion Professionals, Sustain Ability Showcase Asia (SASA), ABC Carbon and Ginga Environment.

Asia Sustainability Reporting Awards 2016 Open for Nominations

noreply@blogger.com (Anonymous) — Fri, 6 May 2016 18:46:00 +0800

The Asia Sustainability Reporting Awards 2016, the highest honour for sustainability reporting excellence in Asia, is open now for entries.

The Awards are being offered in 14 categories that include Asia’s Best Sustainability Report, Asia’s Best Integrated Report, Asia’s Best Sustainability Report (SME), Asia’s Best First Time Sustainability Report, Asia’s Best Online Sustainability Report and Asia’s Best CSR Report within Annual Report. Other awards categories include specialized areas such as environment, carbon disclosure, stakeholders, supply chain and community. Above all, the Sustainability Report of the Year award will be given as the top award.

The Awards are open to all types and sizes of private, public and non-profit organisations in all sectors who produce a sustainability report in Asia. An independent panel of judges with distinguished backgrounds will judge the entries to decide the winners. A short-list of finalists will be announced in mid-October and the winners will be announced in a glittering awards night in Singapore in November.

The Awards, a non-profit multi-stakeholder initiative by CSRWorks, Singapore’s leading sustainability advisory firm, are the foremost and the only Asia-level awards for sustainability reporting. The Awards are organised by csrmatters, a unit of CSRWorks which is focussed on research, recognitions and ratings. The Awards aspire to become the most inspiring recognition for sustainability reporting excellence in Asia.

“The Asia Sustainability Reporting Awards has created a much needed platform for sharing best practices, bench marking, mutual sharing and peer learning by bringing together the leaders in sustainability reporting in Asia,” said Rajesh Chhabara, managing director of CSRWorks. “We also hope that the awards will inspire more companies to start reporting.”

He added that the Awards present an excellent opportunity to organisations to showcase their sustainability efforts, build trust among their stakeholders and attract socially responsible investors.

Interested organisations may submit their entries by the early bird deadline of 30 June 2016 or by the final deadline of 15 September 2016. An organisation may submit entries to multiple categories.

Further details on partnership opportunities, judging criteria, judging panel and how to enter are available on the awards website.

See past year's winners here.

Asia Sustainability Reporting Awards 2015 Report Published

noreply@blogger.com (Anonymous) — Fri, 11 Mar 2016 08:40:00 +0800

The Asia Sustainability Reporting Awards 2015 Report is now available on the awards website.
Or, simply click on the image below to read or download the Report.

Hang Lung Properties clinches top awards at Asia Sustainability Reporting Awards 2015

noreply@blogger.com (Anonymous) — Fri, 29 Jan 2016 09:15:00 +0800

Hang Lung Properties and Birla Carbon Emerge As Big Winners

Winners of Asia Sustainability Reporting Awards 2015 with British High Commissioner Scott Wightman at Eden Hall in Singapore.

Singapore: Hang Lung Properties, Hong Kong clinched Asia's Sustainability Reporting of the Year Award at the just concluded Asia Sustainability Reporting Awards. Hang Lung also won Asia's Best Sustainability Report Award 2015.
Other top winners included Commercial Bank of Ceylon, Sri Lanka (Asia's Best Integrated Report), Omnicom Media Group MENA, Dubai and ACWA Power, Dubai (Joint winners of Asia's Best First Time Sustainability Report), ADFIAP Philippines (Asia's Best Sustainability Report-SME), Orient Overseas Container Line, Hong Kong (Asia's Best CSR Communication within Annual Report) and Birla Carbon (Asia's Best Online CSR Communication). Birla Carbon also won Asia's Most Transparent Report award.

Winners of the Asia Sustainability Reporting Awards 2015 were announced and felicitated in an exclusive awards ceremony-cum-gala-dinner event in Singapore on 28 January 2016.
The event was attended by dignitaries from diverse fields including business, non-profit, embassies, trade associations, advocacy organisations and academics. A significant number of finalists were present at the event who travelled from different places in Asia to attend the event.
The winners received a specially designed plaque framed by recycled wood. The winner of the top honours, “Asia’s Sustainability Report of the Year,” received an exclusive golden plaque. All finalists received a certificate printed on FSC certified paper sourced from sustainable forests.
In addition, the winners and the finalists will be authorised to use the privileged Asia Sustainability Reporting Awards Icons for branding purpose.
The event was hosted at Eden Hall, the official residence of the British High Commissioner in Singapore. The British High Commissioner His Excellency Scott Wightman was the Guest of Honour.
Winners of various awards categories are listed below.

Asia's Sustainability Report of the Year (Judges' Choice):
Winner: Hang Lung Properties Limited, Hong Kong

Asia's Best Sustainability Report:
Winner:Hang Lung Properties Limited, Hong Kong

Asia's Best Integrated Report:
Winner:Commercial Bank of Ceylon PLC, Sri Lanka
Highly Commended: PT Pertamina EP, Indonesia

Asia's Best First Time Sustainability Report:
Joint Winners: Omnicom Media Group MENA, Dubai and ACWA Power, Dubai"

Asia's Best Sustainability Report (SME):
Winner:Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), Philippines

Asia's Best CSR Communication within Annual Report:
Winner:Orient Overseas Container Line Limited, Hong Kong

Asia's Best Online CSR Communication:
Winner: Birla Carbon
Highly Commended: Maybank, Malaysia

Asia's Best Materiality Reporting:
Winner: Birla Carbon, Aditya Birla Group, India

Asia's Best Stakeholder Reporting:
Winner: Maynilad Water Services Inc., Philippines

Asia's Best Carbon Disclosure:
Winner: Airport Authority Hong Kong.
Highly Commended: Kulim (Malaysia) Berhad

Asia's Best Supply Chain Reporting:
Winner: Gammon Construction Limited, Hong Kong

Asia's Best Community Reporting:
Winner: YES Bank Limited, India
Highly Commended: StarHub Limited, Singapore

Asia's Best Workplace Reporting:
Winner: Maybank, Malaysia.
Highly Commended: Ayala Corporation, Philippines

Asia's Best Environmental Reporting:
Winner: Maynilad Water Services Inc., Philippines

Asia's Most Transparent Report:
Winner: Birla Carbon, Aditya Birla Group, India

*Visit www.csrworks.com for official announcement of the awards.

Asia Sustainability Reporting Awards Finalists

noreply@blogger.com (Anonymous) — Mon, 25 Jan 2016 01:09:00 +0800

The winners of the Asia Sustainability Reporting Awards 2015 will be unveiled in an exclusive awards ceremony-cum-gala dinner event on 28 January 2016 in Singapore. The event will be held at Eden Hall and the British High Commissioner His Excellency Scott Wightman will be the Guest of Honour.
The awards will be given in 14 categories. In addition, there will be a "Report of the Year" award to be given as judges' choice.

Here is the list of finalists for the 14 awards categories*:

1.       Asia’s Best Sustainability Report
Airport Authority Hong Kong (Hong Kong, China)
Bharti Airtel (India)
Cairn India (India)
                          CLP Holdings Limited (Hong Kong, China)
Hang Lung Properties Limited (Hong Kong, China)
                          Majid Al Futtaim Properties (UAE)
                         Mahindra & Mahindra Ltd (India)
                         Maybank (Malaysia)
Olam International (Singapore)
PTT Global Chemical Public Company Limited (Thailand)
Singtel (Singapore)
                        Yes Bank (India)

2. Asia’s Best Integrated Report
Commercial Bank of Ceylon PLC (Sri Lanka)

  Kulim (Malaysia) Berhad
  PT Pertamina EP (Indonesia)
                          The Link Real Estate Investment Trust (Hong Kong, China)

3.       Asia's Best First Time Sustainability Report
ACWA Power (Dubai, UAE)
Cerebos Pacific Limited (Singapore)
MGI Coutier Exotech Industries Pvt Ltd (India)
Omnicom Media Group MENA (Dubai, UAE)
PT Pupuk Kujang (Indonesia)
Sime Darby Plantation (Malaysia)

4. Asia's Best Sustainability Report (SME)
ACWA Power (Dubai, UAE)

ADFIAP (Philippines)

MGI Coutier Exotech Industries Pvt Ltd (India)

5. Asia's Best CSR Communication within Annual Report
Cairn India (India)

Commercial Bank of Ceylon PLC (Sri Lanka)
EMC Software Services (India)
Orient Overseas Container Line Limited (Hong Kong, China)
Telekom Malaysia Berhad (Malaysia)

6. Asia's Best Online CSR Communication

Birla Carbon (India)

Maybank (Malaysia)
Indosat (Ooredoo group), Indonesia
7. Asia's Best Materiality Reporting

Airport Authority Hong Kong (Hong Kong, China)

Bangchak Petroleum PLC (Thailand)
Birla Carbon (India)
Chunghwa Telecom (Taiwan)
Hang Lung Properties Limited (Hong Kong, China)
Maynilad Water Services, Inc (Philippines)

8. Asia's Best Stakeholder Reporting

Airport Authority Hong Kong (Hong Kong, China)

ADFIAP (Philippines)

Bangchak Petroleum PLC (Thailand)
Commercial Bank of Ceylon PLC (Sri Lanka)
Maybank (Malaysia)
Maynilad Water Services, Inc (Philippines)

9. Asia's Best Carbon Disclosure
Airport Authority Hong Kong (Hong Kong, China)

  Cairn India (India)
  Gammon Construction Limited (Hong Kong, China)
                          Kulim (Malaysia) Berhad
  Maynilad Water Services, Inc (Philippines)
  Orient Overseas Container Line Limited (Hong Kong, China)
   Sime Darby Plantation (Malaysia)

10.   Asia's Best Supply Chain Reporting
Birla Carbon (India)
Gammon Construction Limited (Hong Kong, China)

11.   Asia's Best Community Reporting
Birla Carbon (India)
Chunghwa Telecom (Taiwan)
Commercial Bank of Ceylon PLC (Sri Lanka)
Maybank (Malaysia)
PT Pertamina EP (Indonesia)
PT Semen Indonesia (Persero) Tbk (Indonesia)
  PT Wijaya Karya (Persero) Tbk (Indonesia)
                       StarHub Ltd (Singapore)
  Telekom Malaysia Berhad (Malaysia)
   YES Bank (India)

12. Asia's Best Workplace Reporting
Airport Authority Hong Kong (Hong Kong, China)

                      Ayala Corporation (Philippines)
                    Commercial Bank of Ceylon PLC (Sri Lanka)
                 Maybank (Malaysia)

13.   Asia's Best Environmental Reporting

Airport Authority Hong Kong (Hong Kong, China)

                   Bangchak Petroleum PLC (Thailand)
                    Birla Carbon (India)
                   Maynilad Water Services, Inc (Philippines)
   Orient Overseas Container Line Limited (Hong Kong, China)
                   SM Prime Holdings (Philippines)
                  UOL Group Limited (Singapore)
              Wheelock Properties (HK) Limited (Hong Kong, China)

14.   Asia's Most Transparent Report
  Birla Carbon (India)
                   Cairn India (India)
                  Chunghwa Telecom (Taiwan)
                 CLP Holdings Limited (Hong Kong, China)
   Maybank (Malaysia)
                 PT Pertamina EP (Indonesia)
                  SM Prime Holdings (Philippines)

*Please visit the awards web page for the official list of finalists.

About the AwardsThe Asia Sustainability Reporting Awards recognise and honour sustainability reporting leaders in Asia. The Awards celebrate best practices in sustainability reporting and communications. Our vision for the Asia Sustainability Reporting Awards is to become the most inspiring recognition of sustainability disclosure in Asia.
The Awards are open to all types and sizes of private, public and non-profit organisations in all sectors who produce a sustainability report in Asia. An independent panel of judges with distinguished backgrounds evaluates the entries to decide the winners.

About CSRWorksThe Asia Sustainability Reporting Awards is a not-for-profit initiative of CSRWorks International, Singapore’s leading sustainability advisory, research and training firm with more than 10 years of track record. CSRWorks closely works with businesses and other stakeholders to promote excellence in sustainability across the region. Our vision for the Asia Sustainability Reporting Awards is to become the most inspiring recognition of sustainability disclosure in Asia.

For more information about the Awards, please visit: www.csrworks.com

Singapore Creative CSR Awards: Entries open

noreply@blogger.com (Anonymous) — Mon, 14 Dec 2015 21:09:00 +0800

Pleased to share that CSRWorks is supporting Singapore Creative CSR Awards as a strategic partner as well as advisors for the Awards.

5 Things You Should Know About The Asia Sustainability Reporting Awards 2015

noreply@blogger.com (Anonymous) — Wed, 7 Oct 2015 21:43:00 +0800

The recently announced Asia Sustainability Reporting Awards (ASRA) have created a lot of buzz among the sustainability reporters and professionals. Here are the 5 things you may not know about the #ASRA Awards:

The Asia Sustainability Reporting Awards 2015, the first edition, are the only Asia-level sustainability reporting awards. The awards' mission is to becoming the most inspiring recognition for sustainability reporting excellence. The Awards will be offered annually.
The Awards will be judged by an independent panel of international judges with distinguished backgrounds. The judging panel information is available on the Awards website.
The Awards are being offered in 14 categories. Sustainability topics may be unique to a company, sector or country. The range of categories means no aspect of sustainability excellence is left out.
The Awards are a not-for-profit multi-stakeholder initiative led by Singapore's leading sustainability advisory firm CSRWorks International. According to CSRWorks, “the Asia Sustainability Reporting Awards will create a much needed platform for sharing best practices, bench marking and peer learning by bringing together the leaders in sustainability reporting. Moreover, the Awards will provide an excellent opportunity to organisations to showcase their sustainability excellence and build trust among their stakeholders. ” Those who wish to support, sponsor or partner the Awards are welcome to be part of the initiative.
The entry fee for the Awards is kept at minimal to just cover the admin expenses and the cost of the Awards Function Gala Dinner for the participating companies.

If you support and encourage sustainability disclosure by companies, please help create awareness about these awards and tell us how would you like to be part of these awards.

You can also nominate your favorite companies who you think have a commendable sustainability report or communication.

Asia Sustainability Reporting Awards 2015 update

noreply@blogger.com (Anonymous) — Tue, 29 Sep 2015 23:12:00 +0800

Newly launched Asia Sustainability Reporting Awards aspire to become the most inspiring recognition for sustainability reporting excellence in Asia. The 2015 edition of the Awards is open for entries now.
An independent panel of judges with distinguished backgrounds will judge the entries and decide the winners. The Awards are being offered in 14 categories including Asia’s Best Sustainability Report, Asia’s Best Integrated Report, Asia’s Best Sustainability Report (SME), Asia’s Best First Time Sustainability Report and other specialized categories with focus on carbon disclosure, stakeholders, supply chain, community and many more.

The Awards, an multi-stakeholder initiative by CSRWorks, Singapore’s leading sustainability advisory firm, have already garnered considerable attention as well as support from diverse organisations; being the foremost and the only Asia-level awards for sustainability reporting.
CSRWorks explains their decision to create these regional Awards: “An increasing number of companies in Asia are embarking on sustainability reporting in line with global trends. Our aim is to encourage and promote sustainability disclosure by honouring those who have demonstrated leadership in sustainability reporting.”
According to CSRWorks, “the Asia Sustainability Reporting Awards will create a much needed platform for sharing best practices, bench marking and peer learning by bringing together the leaders in sustainability reporting. Moreover, the Awards will provide an excellent opportunity to organisations to showcase their sustainability excellence and build trust among their stakeholders. ”
Entries are welcome from all types of organisations from all sectors; all types of sustainability communication and disclosure will be accepted.
Early bird submissions end on 26th October 2015 and final submission deadline on 23rd November 2015. The winners will be announced in mid-January 2016 in an awards function in Singapore.
Further details on partnership opportunities, judging panel and how to enter are available here.

For more information, please contact:
Ms Zi Jin Wong
Email: zijin.wong@csrworks.com

The politics of the market

noreply@blogger.com (Anonymous) — Sun, 27 Sep 2015 19:16:00 +0800

China’s unprecedented stock market crash in the recent weeks shows the dangers of investing in a market which is heavily manipulated by the government, lacks transparency and fundamentals are unknown.
The government media and machinery worked tirelessly to promote bullish behaviour by openly encouraging retail investors to buy more shares. And people did invest as if the bull run will never end. The government campaign resulted in 40 million new stock accounts between June 2014 and June 2015 and the Shanghai Composite Index went up by 150 per cent in the same period. When the market crashed, the government tried to manipulate the market again by pumping more than $200 billion in stock markets to stop the rout only to realise it can’t possibly stop the free fall. The government is now left red faced and embarrassed.
China’s leaders have viewed the rising stock market, erroneously, as a sign of the country’s economic might and a necessary manifestation of their growing global influence. A falling stock market therefore is perceived a sign of political weakness. This explains why the government panicked over the crash and started an extraordinary rescue operation. Short selling was capped. Pension funds were ordered to buy more stocks. New Initial Public Offerings were suspended to limit the supply of shares and the central bank created funds for brokers to buy shares. Companies major shareholders were barred from selling their shares for six month and companies were ordered to buy their own shares. Nothing worked.
There are some intriguing facts. Even though the stock market lost almost one third of its value over the weeks, it was still 80 per cent higher than the last year. Foreign investors do not account for significant share of stock trading. Less than 5 per cent local household assets are invested in stock market. State-owned companies dominate the two main stock exchanges- Shanghai Stock Exchange and the Shenzhen Stock Exchange. State-owned companies offer only a tiny part of their shares for trading to maintain their control over the company. In other words, these companies don’t really rely on stock markets for raising capital. In summary, stock markets do not play a significant role in China’s economy. It’s actually the politics that believes that booming stock markets reflect the government’s success in reforms and a fall erodes the government leaders credibility.
Governments everywhere, particularly in developed countries, try to prop up stock markets by intervening when they have to. But in their case, the stock markets account for more than 100 per cent of their GDP and the stakes are high. The way the Chinese government has intervened is more than just business.
It’s this sensitivity which led to the arrest of journalist Wang Xiaolu who worked for Caijing magazine and wrote in an article that the government was going to end interventions in the stock market. He was promptly arrested saying he “caused panic and disorder at stock market, seriously undermined the market confidence and inflicted huge losses on the country and investors for the sake of sensationalism.” His video confessions were aired on the state-owned TV channel CCTV. He is seen apologising for his news story in the video.

Press Freedom
The authorities have warned other journalists and media outlets not to give too much coverage to stock market problems. Dozens of other people have been arrested in connection with the stock market crash facing accusations of insider trading, malicious short selling and spreading online rumours about stock markets.
The journalist’s arrest has turned the stock market crash story into a human rights and media freedom story. Media rights and human rights groups, within and outside China, have openly criticized the government move.
The key question is this: will the government slow down the market reforms after failing to control the stock market crash and go back to the tight control over the markets? What incentive it now has to reform the markets to let them function on economic fundamentals and transparency instead of driving through propaganda? The coming months will be crucial to watch.

This article, written by me, originally appeared in Ethical Corporation magazine, Sept 2015 issue.

Green and Sustainable Cities Initiative

noreply@blogger.com (Anonymous) — Sun, 13 Sep 2015 00:17:00 +0800

CSRWorks International is pleased to be a partner of the newly launched Green and Sustainable Cities Initiative. Launched in Singapore on 4 September 2015, the initiative aims to get businesses, youth organisations and civil society committed to “a proactive, ground-up, ecosystem and entrepreneurial approach” to help make urban areas around the world more environmentally and economically sustainable.

CSRWorks and 14 other community and industry group leaders, representing more than 5000 local, regional and international organisations, signed a Memorandum of Understanding (MOU) agreeing to engage “in diverse activities to facilitate the growth of Green and Sustainable Cities”, with two main purposes by developing a shared-value economy and to develop youth leaders in close academia-industry collaboration. The long-term goal is to promote the notion that “doing good well is also good for business”.

(Photo: The MoU Signing Ceremony in Singapore on 4 Sept 2015 at Marina Bay Sands Convention Centre)

14 Asia Sustainability Reporting Awards up for grab

noreply@blogger.com (Anonymous) — Wed, 9 Sep 2015 09:42:00 +0800

The Asia Sustainability Reporting Awards 2015, hosted in Singapore, has 14 categories for which entries are being invited. Then there is the top honour of "Asia's Sustainability Report of the Year" which will be selected as Judges' Choice. A star-studded international judging panel will be unveiled soon!

IMPORTANT TIMELINE

Early Bird Entry submission deadline: 26 October 2015
Extended Entry submission deadline: 23 November 2015
Announcement of Finalists: Mid December 2015
Announcement of Winners and the Awards Ceremony/Gala Dinner: Mid Jan 2016

More information about the Awards is available on http://www.csrworks.com/events.html

If you have a CSR Report or CSR Communication in any form, do send your entry today!

Download the Entry Form at www.csrworks.com

Asia Sustainability Reporting Awards 2015 Categories

noreply@blogger.com (Anonymous) — Fri, 4 Sep 2015 09:14:00 +0800

The Asia Sustainability Reporting Awards 2015 are open for entries from organisation operating in Asia. The Awards will be given out in 14 categories. Multiple entries are allowed. The Awards include the following categories:

Asia’s Best Sustainability Report
Asia’s Best Integrated Report
Asia’s Best First Time Sustainability Report
Asia’s Best Sustainability Report (SME)
Asia’s Best CSR Communication within Annual Report
Asia’s Best Online CSR Communication
Asia’s Best Materiality Reporting
Asia’s Best Stakeholder Reporting
Asia’s Best Carbon Disclosure
Asia’s Best Supply Chain Reporting
Asia’s Best Community Reporting
Asia’s Best Workplace Reporting
Asia’s Best Environmental Reporting
Asia’s Most Transparent Report

Descriptions of each category can be found on the Awards webpage at www.csrworks.com

Stay tuned to get regular updates about the Awards which aim to be the most inspiring recognition for sustainability disclosure in Asia!

Asia Sustainability Reporting Awards 2015

noreply@blogger.com (Anonymous) — Thu, 3 Sep 2015 09:27:00 +0800

Entries are being invited for the inaugural Asia Sustainability Reporting Awards 2015.
The Awards recognize and honour sustainability reporting leaders in Asia. The Awards celebrate best practices in sustainability reporting and communications.
The Awards are being offered in 14 categories including Asia’s Best Sustainability Report, Asia’s Best Integrated Report, Asia’s Best Sustainability Report (SME) and Asia’s Best Carbon Disclosure.

ELIGIBILITY

The Asia Sustainability Reporting Awards are open to all kinds of periodic sustainability reporting by all types of organisations in Asia. The types of reports eligible for the awards include:

Annual Sustainability Report / Annual CSR Report
Integrated Report
CSR Communication within an Annual Report
UNGC Communication on Progress
Online CSR or Sustainability Communication (i.e. Company website or micro-site)
Any other type of CSR or sustainability communication disclosed and available publicly

Entries will be accepted for the most recent report published by an organisation for the calendar year 2014 or the Financial Year 2014-15, as the case may be.

JUDGING
An independent panel of judges with distinguished backgrounds will assess the entries to decide the winners. The judging panel will have members drawn from diverse fields such as non-profit organisations, academia, sustainability advocacy, professional bodies, industry networks, media etc to enrich the judging process.
The judging panel is completely independent of the organisers to maintain the highest possible neutrality and objectivity. The judging panel is being put together and will be announced shortly.
The Asia Sustainability Reporting Awards are committed to follow the highest standards in awards judging. The guiding principles for judging the Awards include: independent from organisers, integrity, objectivity, impartiality, avoidance of conflict of interest, and transparency.
More information is available on the Awards webpage.

ABOUT THE ORGANISERS
The Asia Sustainability Reporting Awards are organised by CSRWorks Events, a unit of CSRWorks International, Singapore’s leading sustainability advisory, research and training firm. Established in 2005, CSRWorks closely works with businesses and other stakeholders to promote excellence in sustainability across the region. Our vision for the Asia Sustainability Reporting Awards is to become the most inspiring recognition of sustainability disclosure in Asia.

Please help create awareness about these awards by sharing this post.

Upcoming Sustainability Training Programmes

noreply@blogger.com (Anonymous) — Tue, 18 Aug 2015 15:08:00 +0800

How to Write a Professional Sustainability Report

15-16 September 2015, Tuesday & Wednesday
Singapore

Keeping in line with the regional and global trends, the Singapore Exchange (SGX) CEO announced in October 2014 that sustainability reporting would be mandatory for Singapore-listed companies in the near future. SGX had previously issued voluntary sustainability reporting guidelines in 2010-11. Several other exchanges in the region and around the world have either made sustainability reporting mandatory or are moving in that direction.
Leading global investors are increasingly taking into account a company’s social and environmental performance to make investment decisions. Sustainability disclosure increases a company’s credentials and opens up new sources of investment. Sustainability reporting also helps a company reduce business risks, improve efficiency and lower operational costs. Early adopters will also have an edge over their peers, will gain stakeholders’ respect and reap a number of benefits of embracing sustainability reporting.
Many organisations already practice Corporate Social Responsibility (CSR) in some form. However there are several gaps between their existing CSR approach and the globally accepted sustainability reporting guidelines such as the Global Reporting Initiative (GRI) G4 and IIRC’s Integrated Reporting guidelines.

This course is designed to help listed-companies in moving from traditional CSR to a strategic Sustainability Reporting in an easy Do-It-Yourself manner.

This training will be very useful to those in the following functions:
Senior executives responsible for CSR and Sustainability Reporting in their respective organisations. Directors and managers from corporate affairs, corporate communications, investor relations, public relations, human resources, environmental health & safety and senior management.

Measuring and Reporting Organisational Carbon Footprint
22 September 2015, Tuesday
Singapore

This program is designed to offer a foundation course in carbon emissions footprinting (measurement). Participants at this course will learn the essentials of GHG management and carbon performance. This course will provide the attendees with an excellent knowledge and understanding of the GHG Protocol to facilitate quantification and management of your carbon footprint and greenhouse gas (GHG) emissions. They will learn how to measure their organization’s carbon footprint using the GHG Protocol.

This course will be very useful to those in the following functions:
GRI Reporting team members, CSR/Sustainability, EHS, energy management and facilities management.

For more details about these trainings, please contact Frederique Perpetu at frederique.perpetu @csrworks.com or +65 6471 2833.

Creative CSR Awards 2015 Winners

noreply@blogger.com (Anonymous) — Wed, 15 Jul 2015 18:02:00 +0800

A big congratulations to the winners of the Singapore Creative Awards 2015! The winners in various categories include Maybank Singapore (Community Building), GSK (Environment), DBS Bank (Social Enterprises) and Club 21 (Cause). Glaxo Wellcome Manufacturing also was the Grand Prix Winner.
The Creative CSR Awards, debuted in 2014, are organised by the Association of Accredited Advertising Agents Singapore (4As). The award recognises and honours business organisations in the Singapore private and public sectors for creative, sustainable and effective CSR programs and projects. In order to qualify, they should be able to demonstrate the organisation’s ethical values, creative approach to differentiate their CSR initiatives, commitment to sustaining the program, impact on the community, environment and social purpose, measuring and evaluating results.

Entries for the Creative CSR Awards 2016 are now open. CSRWorks International is proud to be an advisor for the awards. Hope to see you at the awards night next year!
To find out more about the Singapore Creative CSR Awards 2016, please email Amanda Khoo at amanda@4as.org.sg.
(Contributed by: Frederique Perpetu, Head of Marketing & Outreach, CSRWorks International)

Greenpeace at war in India

noreply@blogger.com (Anonymous) — Mon, 11 May 2015 17:57:00 +0800

Environmental campaigner Greenpeace has run into serious trouble in India. The government has barred Greenpeace India from receiving foreign funding and has frozen all its bank accounts including the domestic bank accounts. As a result, Greenpeace India has no more access to new funding – local or foreign- or the monies in its various bank accounts.

The government’s tough stand against Greenpeace is based on a report submitted by the Intelligence Bureau to the prime minister’s office last June when the new federal government was taking charge. The report leaked to media terms Greenpeace as a “threat to India’s economic and national security.” The report says that a number of large development projects have been cancelled, disrupted or delayed because of Greenpeace campaign against coal mining, coal fired power plants, Genetically Modified Organisms (GMO), hydro power projects, tea farming practices and several large industrial projects. The intelligence report has mentioned London-based Vedanta’s bauxite project and South Korean company POSCO’s steel plant in Odisha state and hydro power projects in Arunachal Pradesh state bordering China as examples of affected projects.

The intelligence agency estimates that disruptions to large projects have cut India’s gross domestic product growth by 2-3 per cent a year.

The intelligence agency has noted that Greenpeace and other NGOs are using funds from donors in USA, UK, Germany and the Netherlands to mobilize protests against development projects in India. The agency also alleged that Greenpeace has flouted laws relating to receiving and accounting foreign funding. The agency has raised questions about the intentions of a number of expat Greenpeace officials, consultants and journalists who were brought to India for various campaigns and projects. The agency has also raised the issue of steep salaries being paid to Greenpeace officials and consultants.

Growth pledge

The Indian government, led by prime minister Narendra Modi, came to power by promising rapid development and fight against corruption. Since taking office, PM Modi has made development his key priority. He has launched an unprecedented reform agenda to create a welcoming environment for foreign investors. He has toured almost all industrialised nations inviting their governments and businesses to “make in India.” His energised pitch and the reform agenda have earned friendly postures from the world leaders and global CEOs with US president Barak Obama even calling him India’s Reformer-in-Chief. He wants to modernise India’s creaking infrastructure and needs nearly one trillion dollars in the next five years, mostly from the foreign investors. The last thing he wants is activists coming in the way. Aggressive campaigns by activists can potentially turn off foreign investors.

Even though PM Modi has repeatedly said he is for sustainable development and will not allow development at the cost of environmental destruction, Greenpeace has a different vision for India’s development. PM Modi looks at coal fired power plants, hydro power and nuclear power as crucial to quickly solve India’s acute shortage of power. Greenpeace advocates India should embrace renewable energy instead and has actively tried to physically halt power projects.

The government thinks that the GMO is important for India’s food security; Greenpeace is against it citing ecological dangers. For the government, large industrial and infrastructure projects across the country are badly needed for the economic development, creating employment and alleviating poverty. Greenpeace says these projects are risking bio-diversity, destroying forests and displacing communities.

The government, based on the Intelligence reports, seems to have concluded that Greenpeace is obstructing India’s development at the behest of foreign interests. The action has been swift.

Lock down

In March, Greenpeace campaigner Priya Pillai, who was headed to the UK to brief British MPs on the ongoing campaign against a coal mine in Madhya Pradesh state jointly owned by London-registered Essar Energy, was deplaned and put on a no-fly list on the orders of the home ministry. Later, a Delhi High Court judge ordered the government to lift the ban on her travel, a victory for Greenpeace. In another judgement in January, Delhi High Court had ruled that the home ministry had not followed due process or shown justification in blocking money from Greenpeace International to Greenpeace India. This however followed by freeze on domestic bank accounts and new investigations against the campaigner.

Greenpeace has taken a confrontational position. The campaigner has categorically denied all charges and has labelled the government action as “attempts to silence criticism and dissent”, “an attack on civil society” and “a cynical move to suppress democracy.” Greenpeace India Executive Director, Samit Aich has said that “a campaign is being waged against dissent, but we will not be cowed.”

The government looks determined to act tough against those who oppose its development plans. At the time of writing this piece, the news came in that the Indian government has asked the Ford Foundation; the New York based private foundation which funds several local NGOs in India, to get government clearance before spending money, to make sure its funds were used for "bona fide welfare activities within the country."

The battle lines are drawn. The war is over which development model is good for India and who decides what is good for India.

Contributed by Rajesh Chhabara, founder of CSRWorks International and a member of Ethical Corporation's editorial advisory board.

This article originally appeared in Ethical Corporation magazine, May 2015 issue.

India's corporate espionage wake-up call

noreply@blogger.com (Anonymous) — Sat, 25 Apr 2015 15:11:00 +0800

A fast developing espionage scandal in India has exposed a shocking nexus between corrupt government officials, middlemen and some of the most powerful local corporations. The organised racket of espionage shows how domestic companies owned by influential business families may have gained competitive advantage through illegal means.
The growing list of companies allegedly involved in the scandal now includes India’s top energy companies Reliance Industries, Essar Group, ADAG Reliance and Jubilant Energy, Cairn India - the oil exploration division of billionaire Anil Agarwal’s London-listed Vedanta Resources, infrastructure developer GMR Group and accounting and consulting giant PricewaterhouseCoopers and a bunch of local consulting firms. At least twelve people have been arrested that include senior executives from the suspect companies. More arrests are expected, investigators have indicated.
Investigators have revealed chilling details of the modus operandi. Local consulting firms would pay bribes to government employees in various ministries to get commercially sensitive secret information about government decisions and proposals. The final recipients of the information were some of the largest domestic companies. The information could be used for lobbying, playing stock markets, gain competitive advantage and even defraud the government by manipulating bids for infrastructure projects.
Government employees involved had fake identity cards and duplicate keys to the offices of ministers and senior bureaucrats. They would re-enter the ministry premises after office hours, make copies of the documents and leave, all this while security cameras would be turned off. They will then pass on the documents to consultants, lobbyists and companies for money.
The investigations started in October last year after the new central government’s newly appointed national security advisor noticed frequent reporting of highly classified details of government meetings by media. He then asked the Research & Analysis Wing (RAW), India’s little known elite intelligence agency, to investigate. A highly secret investigation that involved taping phones of the suspects and monitoring their movements resulted in several arrests in February this year.
Investigators say they have more than 100 hours of taped phone conversations that indicate senior executives of some of the top energy companies in India were actively involved in the espionage. The CEO of Metis Business Solutions, a top energy consultancy in India with an office in Melbourne, is among those arrested. The company’s website, no more accessible, claimed more than 250 clients worldwide in the oil, gas, power and coal industries.
Examples of documents stolen include sensitive information about the national gas grid, national budget input, market sensitive data, confidential plans and minutes of high-level government meetings, government plans for foreign collaborations, planned projects with other countries, foreign investment proposals by multinational companies and disinvestment decisions relating to public sector companies.
Started with the petroleum ministry, the investigations have so far discovered stealing of commercially sensitive classified information from the ministries of finance, commerce, coal, power, defence.

Action promised

The federal government, headed by prime minister Narendra Modi who came to power last year with unprecedented majority by promising that he will fight corruption, has promised a strict action saying that no guilty will be spared. Reacting to the arrests, Reliance Industries and the Essar Group have said that they have launched internal probes and have promised action.
Prosecutors are, however, going to face likely difficulty in effectively charging the culprits as India does not have a proper corporate espionage law. The Official Secrets Act, India’s anti-spying law dating back to 1923, can be applied only if “obtained or attempted to obtain information which is calculated to be or might be, or is intended to be, directly or indirectly, useful to an enemy.” Prosecutors are therefore charging those arrested under other laws covering “house trespass or house-breaking by night” and “forgery”.
“India Inc is not surprised with the corporate espionage scandal now rocking the petroleum ministry, with many chief executive officers (CEOs) saying documents are regularly leaked from the ministries, tax authorities, banks, and regulators – thus giving competitive advantage to corporates with deep pockets,” Business Standard, a leading local newspaper published from Mumbai, said in a report based on interviews with unnamed CEOs in February.
The government estimates that $1 trillion of investment would be needed to develop India’s infrastructure in the next five years, much of this will have to come from private investors, mostly from foreign investors. There are more than 600 mega infrastructure projects presenting huge business opportunity for local and multinational companies. Ports, oil & gas, telecom, power, railways and airports together account for 69% of the required investment, according to the Planning Commission, India’s central planning body.
The current scandal may unsettle foreign investors already frustrated with India’s antiquated laws, rampant corruption and spectacularly slow and inefficient bureaucracy. India ranks at number 85 in Transparency International’s Corruption Perception Index 2014, and is at number 142 on the World Bank’s Ease of Doing Business 2015 list.
Multinational companies eying investment opportunities often find themselves at a disadvantage compared with domestic companies when it comes to bribery. Multinational companies, particularly the ones from the UK and USA, are often bound by tough anti-bribery and corporate espionage laws at home. In India, they have to compete with large domestic companies helmed by influential families who may find bribery and espionage a fair game. The scandal has only reaffirmed their suspicion that India does not offer a fair level playing field.
It’s time to act tough by the government to win foreign investors’ confidence. For Indian companies, it’s time for introspection. Illegal means to gain competitive advantage may dent their reputation, increase regulatory risks and make them a target for international stakeholder action.

Contributed by Rajesh Chhabara, founder of CSRWorks International (www.csrworks.com)

(This article first appeared in Ethical Corporation, April 2015 issue)

Measuring and Reporting Organizational Carbon Footprint

noreply@blogger.com (Anonymous) — Mon, 13 Apr 2015 15:32:00 +0800

Training Course

Measuring and Reporting Organizational Carbon Footprint

28 April 2015

Singapore

Introduction

Topics covered

An understanding of greenhouse gas emissions and their effect on climate change.
Introduction to the GHG protocol for corporate accounting and the GHG protocol for project accounting.
GHG Reporting Indicators contained in the GRI G4 Reporting Framework and how they relate to the GHG Protocol standards.
Introduction to GHG inventories (Scope-1, Scope-2 and Scope-3).
GHG protocol for measuring and reporting corporate carbon emissions.
Establishing a GHG information management system.
Creating a user-friendly tool to monthly measure and monitor GHG emissions from the facility/office operations.

Who Should Attend?
This course will be very useful to those in the following functions: GRI Reporting team members, CSR/Sustainability, EHS, energy management and facilities management.

Trainer

This workshop is facilitated by Rajesh Chhabara, founder and managing consultant of CSRWorks International, one of the earliest sustainability consulting firms in Singapore. Rajesh has helped more than 50 organisations across the region to measure and manage their carbon footprint.

Training Style

Training is delivered in a highly interactive and fun style through case studies, activities and real examples.

Date & Time

28 April 2015, Tuesday
9 am – 5 pm (Registration starts at 8.45 am)

Cost

$300 per person for Singapore Compact and SBF-SDBG members
$380 per person for non Singapore Compact and SBF-SDBG members
*Course fees are inclusive of course notes and tea breaks

Venue
Singapore Business Federation
10 Hoe Chiang Road
Keppel Towers, #22-01
S089315

Please contact Diana Chng at diana@csrsingapore.org or (65) 6827 6825 for more details.

(This training is organised by Singapore Compact and Singapore Business Federation (SBF), and facilitated by CSRWorks International)

Responsible Business in ASEAN

noreply@blogger.com (Anonymous) — Thu, 2 Apr 2015 15:20:00 +0800

The Association of Southeast Asian Nations (ASEAN), a grouping of 10 nations, aims to become a single market in 2015 what will be known as ASEAN Economic Community. The economic integration will see free flow of goods, services, investment, capital and skilled labour among the member states to achieve a single market and production base. With 600 million consumers and $3 trillion in combined GDP, the new economic block will need a strong framework for responsible business to ensure the initiative results in a sustainable growth for weaker member nations and the communities living there.
ASEAN has several challenges to deal with. To start with, ASEAN is a grouping of very uneven economies. Singapore and Brunei, the two smallest member states in ASEAN are also the wealthiest. ASEAN also includes Cambodia, Lao and Myanmar which are the least developed countries in the world. In between fall the remaining countries that include Indonesia, Malaysia, Thailand, the Philippines and Vietnam.
It’s obvious that the capital will flow from the wealthy members to the poor nations in search for growth and expansion as their home markets are very small. While this is a welcome news for the host economies, the key concern is whether the investors will ensure high standards of ethics, human rights and environmental protection.
Singaporean companies perhaps will benefit the most from ASEAN becoming a single market. However, only 20 out of nearly 800 publicly listed companies published a sustainability report in 2014. Singaporean companies have failed in disclosing their economic, social and environmental impacts even though the Singapore Exchange, the local stock exchange, had issued voluntary sustainability reporting guidelines in 2010. Malaysia, where sustainability reporting has been mandatory for the listed companies since 2008, saw only about 20 companies’ report meeting the GRI guidelines.
Singapore has consistently ranked high on Transparency International’s Corruption Perceptions Index while Brunei also enjoys a reputation for low tolerance for corruption. In contrast, almost all other countries in ASEAN are notorious for rampant corruption. The question is whether Singapore companies will follow the same anti-bribery standards in other countries that they follow in Singapore. Early this year, two large Singapore companies, Keppel FELS and Sembcorp Marine, were accused of bribery in a major corruption scandal in Brazil involving the state-run oil company Petrobras. Though both companies have denied any wrongdoing, the incident should be a wake-up call for Singapore companies venturing overseas.
Singapore, Brunei, Malaysia and Thailand have significant number of migrant workers. There are ongoing concerns about abusive working conditions for migrant workers and human trafficking in some of these countries. Economic integration will speed up migration. Investments without respect for a firm commitment to protecting human rights will be red flags for activists.
Indonesia, already at the centre of rainforest destruction by palm oil and paper pulp companies, is an environmental hot-spot. More investment flowing into the country by companies without environmental integrity will result in continued deforestation, and displacement of local communities. Several of the palm oil and pulp companies accused of forest destruction in Indonesia are based in Singapore and Malaysia.
The good thing is that ASEAN leaders seem to be aware of the risks of ignoring corporate responsibility. The ASEAN Intergovermental Commission on Human Rights (AICHR) was established in 2010 and ASEAN Human Rights Declaration was issued in 2013. A study by AICHR has recommended ASEAN Member States to adopt rules and regulations to deal with adverse impacts of business practices and encourage businesses to implement and internalize corporate social responsibility values, including respect for human rights.
Human Development, Social Welfare and Protection, Social Justice and Rights, Ensuring
Environmental Sustainability and Narrowing the Development Gap between member countries have been included as goals in the ASEAN Socio Cultural Community Blueprint.
The most important initiative however is the establishment of ASEAN CSR Network in 2011, modelled on CSR Europe, to promote corporate social responsibility within the region. The Network recently organized ASEAN Next Gen CSR Forum in Bali attended by about 250 delegates including business leaders. Addressing the forum, the ASEAN Secretary-General, Le Luong Minh said there were many opportunities for businesses to contribute positively through sincere corporate values and principles.
There is work ahead for the ASEAN CSR Network. Brunei, Cambodia and Lao have not yet joined the ASEAN CSR Network and they don’t have any signatories to the United Nations Global Compact Principles.
Without an aggressive responsible business agenda, ASEAN Economic Community will find it hard to deliver on goals included in ASEAN Socio Cultural Community Blueprint.

-by Rajesh Chhabara,

Founder of CSRWorks International (www.csrworks.com)

(This article first appeared in Ethical Corporation, March 2015 issue)

Singapore Companies Laggards in Sustainability Reporting

noreply@blogger.com (Anonymous) — Fri, 1 Aug 2014 20:20:00 +0800

Sustainability Reporting Guidelines issued by the Singapore Exchange in 2010 have fallen on deaf ears as indicated by the findings of the latest study of sustainability reporting practices of listed companies in Singapore.
The second edition of much awaited study report about Sustainability Reporting in Singapore among Singapore Exchange Mainboard listed companies has been released. The report, carried out by Singapore Compact for CSR and NUS Business School, paints a grim picture of sustainability reporting among Singapore companies. The study covered 537 companies listed on the Singapore Exchange to gauge the level of their sustainability reporting. Here are the key findings:

Only 19 companies issue a proper sustainability report using GRI guidelines. The 2011 Study had found 11 companies with GRI-based reports.

Companies in the Manufacturing, Services and Commerce sectors are the biggest laggards.

Only 160 companies had some kind of mention of sustainability in their annual report or the website.

Environmental issues were the most neglected aspects by those with any sustainability information.

Only 17 companies made any reference to Climate Change.

Only 22 companies made a reference to material issues.

Only 32.1% companies from the high impact sectors, categorized so by the Singapore Exchange, provided some information about their sustainability practices. These sectors include Agriculture, Air Transport, Chemicals & Pharmaceutical, Construction, Food & Beverages, Forestry & Paper, Mining & Metals, Oil & Gas, Shipping and Water.

Study findings are not surprising for sustainability professionals. Sustainability has a very low buy-in at the CEO level in Singapore. CEOs don't see much value in sustainability agenda. The SGX guidelines expect listed companies to disclose their sustainability performance but are voluntary. In the absence of regulatory requirement, a vast majority of companies have chosen to ignore the guidelines.
Christopher Ang, Executive Director of Singapore Compact, says: “More companies need to communicate and report on their sustainability activities to gain a deeper understanding of their exposure to social and environmental risks, and demonstrate corporate transparency and accountability. Such insights can also help companies find growth opportunities and generates trust with their stakeholders, while providing drivers for companies to formulate long-term strategic visions and resilient business models.”
Associate Professor Lawrence Loh, one of the researchers and Deputy Head, Department of Strategy & Policy, NUS Business School says: "Companies should see that it is in their own interests to report on sustainability. Increasingly, many stakeholders, including investors, are expecting companies to go beyond mere engagement and to also communicate their commitment to sustainability efforts. Being sustainable is the most fundamental assurance for the long-term survivability and viability of the companies."
Good advice. Hope CEOs are listening!

See the full report here.

Will Aviva Explain Reckless Increases in MyShield premium?

noreply@blogger.com (Anonymous) — Thu, 31 Jul 2014 22:18:00 +0800

I am shocked to receive a premium demand for my MyShield policy from Aviva which is significantly higher than the prior years. I bought the policy in July 2012 and paid a premium of $481.46. In 2013, I was asked to pay $800. This year, the amount has been increased to $1129.63. Should I expect to pay $1500 next year? And $1900 the year after? Where will this stop?

Can anyone at Aviva explain the basis for these reckless increases in premium every year for a healthy man with no claim history?

There have been regular reports of insurance companies in Singapore arbitrarily increasing medical insurance premium for hapless customers. Is there any authority or agency in Singapore which can rein in these companies? Is there any regulation here to control these companies' behaviour and to ensure customers are not taken to ransom?

I have written to Aviva. Will share the reply here if they reply at all. Keeping my fingers crossed.

Update on 1 Aug 2014 at 7.20 PM: Aviva has not bothered to reply to my email yet which was sent to their "customer care" email address.

Training Course: Sustainability Reporting for HR

noreply@blogger.com (Anonymous) — Sat, 7 Jun 2014 12:28:00 +0800

After the two hugely successful sustainability training courses (Managing and Reporting Supply Chain Sustainability and Transitioning to GRI G4 Reporting) that we launched in collaboration with Singapore Compact for CSR, the next one is designed for the Human Resources professionals. Here are the necessary details:

Sustainability Reporting for HR

Introduction

More and more companies are opting to report their economic, social and environmental performance through annual sustainability reports. A sustainability report is increasingly seen as a critical instrument in building trust and credibility among internal and external stakeholders.

Sustainability reporting is a complex process requiring organisation-wide collaboration to deliver a report that is truly engaging and effective. Input from the Human Resources Department build a significant part of the report. About one-third of a typical sustainability report is devoted to employee related issues. This is not surprising as nearly 38 per cent of the performance indicators included in the Global Reporting Initiative (GRI) G4 Guidelines for Sustainability Reporting is Human Resources Management aspects. This underscores the importance of strategic participation of HR leaders in the reporting process instead of being passive providers of data at the end of the year.

More importantly, a good understanding of workplace-related sustainability issues and how they are reported will help HR leaders in employer branding. HR leaders can use sustainability reporting metrics to boost employee engagement, employee motivation, recruitment and retention of talent, work-life balance, team work, and leadership development.

This course is designed to introduce HR leaders and managers to sustainability reporting requirements and to prepare them for playing a strategic role in their organisation’s annual sustainability reporting process.

Training Style

Training is delivered in a highly interactive and fun style through case studies, activities and real examples.

Duration

One Day

Who Should Attend?

The workshop will be very useful for the entire Human Resource team, Sustainability Directors and Managers, Sustainability Steering Committee members and Sustainability Reporting Team members. Companies which aspire to be a leader in people excellence will find this workshop equally useful.

Training will be facilitated by Rajesh Chhabara, founder and managing consultant of CSRWorks International, one of the earliest sustainability consulting firms in Singapore. Please click for more information about the trainer.
To register, kindly download the registration form and send the completed form to ester@csrsingapore.org or diana@csrsingapore.org

Conflict between business and community, and the role of government

noreply@blogger.com (Anonymous) — Sat, 7 Jun 2014 10:40:00 +0800

Whenever there is a conflict between business and community, the state is expected to intervene with a regulation to address the situation. Almost every piece of business law is a result of this underlying notion of the state's responsibility.
If businesses don't want to attract regulation, they have to voluntarily resolve the conflict guided by the principles of ethics, integrity and responsibility. Unfortunately, voluntary action by businesses is rare as there are so few visionary business leaders. So regulation is the only answer to protect the community (and the environment) from the greed and recklessness of businesses. Even in the enlightened Europe, a legislation is in the works to make sustainability reporting by large companies mandatory. A necessary but unpleasant move for which businesses can blame only themselves.
A high level discussion coming up next week. Looking forward to participate as a speaker.