BANGKOK, July 31, 2013 /PRNewswire/ -- Over the past 20 years many Asian countries have grown rapidly, driven by and benefiting businesses in every sector, and lifting hundreds of millions of people out of poverty. This pace, however, has also been volatile, and leaves Asia with issues such as growing inequality, lack of social cohesion, rapid urbanization, water shortages, and a range of climate change-related natural disasters.
As a result, businesses in Asia are faced with tough questions - how is it possible to grow responsibly, ensure economic development is more inclusive, and make essential products and services accessible for all? Three of Southeast Asia's leading voices in this area came together to discuss ways forward for the private sector today, with an eye ahead to the CSR Asia Summit to be hosted in Bangkok, for the first time in four years, this September.
"It starts with a critical look at your company's core business and the way it operates. Through engagement with shareholders, board members, staff, customers, suppliers, vendors, and members of the community, the most important issues and impacts will come to light," said Professor Richard Welford, Chairman of CSR Asia and the region's thought leader on corporate social responsibility (CSR). "Addressing issues such as human rights, environmental sustainability, and corporate governance are not easy, but improve the competitive position of a company by reducing risks and improving its brand value."
"The Stock Exchange of Thailand has sent a clear signal to companies here," said Mr. Sukich Udindu, Vice President of Corporate Social Responsibility, Minor International PLC. "Increased expectations for corporate accountability on social and environmental impacts, by shareholders and other stakeholders are driving Thai companies to proactively and strategically address these issues in their core business practices at home, and in their international operations," he observed.
To tackle Asia's rising inequality and exclusion, CSR Asia's Welford reminded companies that stable and cohesive societies form the basis of thriving economies, and are therefore in their own self-interest to help build. "Think about models that drive inclusive business, that extend your company's economic footprint outwards to include those outside of the formal economy."
In an exemplary model of inclusive business by a corporation, Coca-Cola Chairman and CEO Muhtar Kent made a public commitment in 2010 that the company would enable the economic empowerment of 5 million women entrepreneurs by 2020 (known as 5by20), with the help of partners in government, civil society, women participants and the private sector. "Women around the world are already pillars of our business system. With 5by20, we are building on that foundation by implementing programs to help women entrepreneurs throughout the Coca-Cola value chain -- from fruit farmers to artisans. Our objective is sustainable communities through empowered women," says Ms. Gilda Custodio-Maquilan, Sustainability Manager, Coca-Cola Philippines.
These panelists will be joined by over 60 other speakers, and 500 participants at the upcoming CSR Asia Summit 2013 to be hosted in Bangkok for the first time since 2009, and being held 17-18 September 2013. The Summit will explore challenges and opportunities for the private sector to drive more inclusive and equitable growth in Asia. Find out more: http://csr-asia.com/summit2013/
PR Newswire Asia is the Official Newswire Partner of the CSR Asia Summit 2013.
About CSR Asia
CSR Asia is the leading provider of training, research and consultancy services on sustainable business practice in Asia. Through our offices in Hong Kong, Kuala Lumpur, Singapore, Bangkok, Tokyo and Sydney, and our partnerships in Vietnam, Indonesia, Bangladesh, and the UK, CSR Asia builds capacity and promotes awareness of CSR in order to advance sustainable development across the region.
Telephone: +852-3579-8079
Email: enquiry@csr-asia.com
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