The National Council of Social Service (“NCSS“) has launched a public consultation to seek feedback on the Sustainable Philanthropy Framework (“Framework“). The Framework aims to encourage businesses to adopt a longer-term approach in giving back to society. Developed to articulate the “Social” aspect in the Environmental, Social and Governance (“ESG“) goals of businesses, the Framework outlines three ways on how businesses can contribute back to the community:
(a) Giving – to determine businesses’ financial commitment and impact towards philanthropic initiatives;
(b) Volunteering – to aid businesses in evaluating the overall engagement of employee volunteerism; and
(c) Socially responsible business practices – to encourage businesses to go beyond maximising profit and adopt a longer-term approach to drive social impact on the ecosystem.
The Framework comprises a set of metrics that will help businesses measure and report their contributions to the social service sector and foster sustainable philanthropy. There are two types of metrics: (i) core metrics, which are applicable to all businesses regardless of where they are on their philanthropic journey; and (ii) expanded metrics, which aim to encourage a mindset transformation towards a sustained philanthropic culture. For more details on the core and expanded metrics, as well as the Framework as a whole, please click here.
The Framework is supported by a Playbook, which is designed to guide businesses to deepen their commitment in their corporate philanthropic journey.
The consultation period ended on 5 April 2024.
Click on the following links for more information (available on the NCSS website at www.ncss.gov.sg):
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