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CSR Malaysia

Sunday
Feb 05th
Home arrow News arrow Asia arrow Singapore: Businesses Getting More Transparent
Singapore: Businesses Getting More Transparent Print E-mail
Saturday, 10 October 2009
Businesses are getting more transparent when it comes to their corporate social responsibility (CSR) initiatives, according to experts. According to a Channel News Asia report , experts have said that this has arisen due partially to investors beginning to take into consideration environmental, social and governance issues.

According to the news report, chief operating officer of UN Principles of Responsible Investment, Jerome Tagger, said, "There's been requests from investors that corporates disclose more in general. There's been a request that corporates use frameworks such as the global reporting initiative, the UN global compact and others."

Generally, industry players desire greater CSR disclosure, but allow for some flexibility, giving businesses the liberty to report in their own format. In Singapore, many mainboard-listed firms in Singapore are starting to publish their CSR reports. Unlike its counterpart in Malaysia, Bursa Malaysia, which requires public listed companies to report on CSR activities, the Singapore Exchange does not feel there is a need for this for the time being. However, the news report states that the exchange "plans to continue to promote ethical practices".

Executive VP and Head of Listings of the Singapore Exchange, Lawrence Wong, was reported to have said, "It is also about setting the right tone for companies listed on SGX. So we reinforce our self regulatory organisation, governance and also enhance disclosure standards not only for the market but also for ourselves,"

It was reported that the exchange is open to the idea of CSR ratings for listed companies, as it might assist investors in their decision as to where to park their money.

According to the report, observers believe Korean and Japanese companies are the most established in responsible investment within Asia.

 

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