Two-thirds of listed companies still not communicating sustainability information of business to stakeholders
Greater accountability of governance, social and environmental risks necessary for resilient business models
A total of 160 out of 537 companies listed on the mainboard of the Singapore Exchange (SGX) as of 31 December 2013 are found to have communicated, to various extent, sustainability information related to the governance, economic, environmental and social aspects of their businesses. Although this is an almost two-fold increase from the 79 companies in 2011 that were found to have communicated such information, two-thirds of Singapore’s listed companies are still not communicating sustainability to their stakeholders. Of the 160 companies that had communicated sustainability, only 19 of the companies used internationally recognised sustainability reporting frameworks, which guides them to provide more comprehensive and in-depth information about their businesses to their relevant stakeholders. As for the 30 ‘blue chip’ companies on the Straits Times Index, only 14 are providing in-depth sustainability information and using internationally-recognised frameworks when preparing sustainability reports.
This finding is from a new study by Singapore Compact for Corporate Social Responsibility (Singapore Compact) and the National University of Singapore (NUS) Business School on sustainability communication by SGX-mainboard listed companies.
2nd Youth CSR Conference in Korea
The UN Global Compact Network organised the 2nd Youth CSR Conference which took place in Seoul, Republic of Korea on 3 & 4 July 2014. Held at the Kyung Hee University, the conference was a follow-up to the inaugural conference which was held in 2012.
The theme for this year's conference was "Challenges for Building a Sustainable Future" and had the objective of bringing together approximately 40 youth representatives from Korea and five ASEAN countries to exchange their experiences, challenges and opportunities to in building a sustainable future. This year, the Singapore delegation comprised of four students from NUS, Temasek Polytechnic, NTU and AIESEC,