Asean CSR

The ASEAN CSR Network (ACN) welcomes the Association of Banks in Singapore’s (ABS) recent guidelines on responsible financing for Singapore banks. 

As Singapore is a major financial hub, the new guidelines are a good start in ensuring banks have a framework to be aligned with the growing global movement for Environmental, Social and Governance issues to be addressed when screening customers and prospects for loans and investments.

On 2 October 2015, ASEAN CSR Network participated in a roundtable discussion in Kuala Lumpur, Malaysia. The theme of the event was “Strengthening Corporate Respect for Human Rights: Roundtable on the UN Guiding Principles (UNGP) Reporting Framework and the Roles of Key Actors in Incentivising Improved Corporate Performance.”

Ibu Yanti, Chair of ASEAN CSR Network, shares her insights on CSR, the status of CSR in Indonesia and gives her views on why the ASEAN Responsible Business Forum  will be a key platform for multi-stakeholder engagement.

Website: http://asean-csr-network.org/c/responsible-business-forum 

The creation of the ASEAN Economic Community (AEC) by end 2015 is expected to bring numerous benefits such as free movement of goods and labour, greater intra-ASEAN investment and trade. Yet with the positives from a single market and production base, negative impacts can also arise, putting vulnerable groups at risk.

These issues must be tackled and resolved within a multi-stakeholder cooperation model. Hence, it is imperative for policy makers, civil society and businesses to work together to strongly encourage the adoption and implementation of responsible business practices or corporate social responsibility (CSR) in achieving sustainable economic growth.