Building a sustainable enterprise in Singapore

In recent years, the role of corporations has increased in importance due to growing awareness and societal expectations. Besides financial accountability to stakeholders, ever-diversifying responsibilities, profit maximisation and so forth, consumers still expect corporations to demonstrate business sustainability.

It is a practice not just confined to economic viability but a strong commitment to the environment and society.

We believe that in order to become a truly excellent global corporation, we must not only advance our business activities but also contribute to the realisation of a better society as a good corporate citizen. In carrying out CSR activities, we capitalise on advanced technological strengths, global business deployment, and diverse, specialised human resources.

At the same time, we believe in sharing and practicing a common understanding of our CSR beliefs across the Group global workforce, while having the flexibility to partake in activities that best serve the needs of the local communities.

There are many different ways businesses can embark to enhance their sustainability efforts.

Businesses can look at developing new technologies, products, and solutions services that fulfil the needs of customers and provide solutions to social issues at the same time. During the development process, businesses can consider working with universities and research institutions to create products and services that deliver value to the community.

As the threat of climate change from global warming increases, there is an urgent need to be aware of the impact that operational activities have on the environment. The bid to lower carbon emissions and offer sustainable business solutions begins at the inception of product design.

In addition, businesses can look at stimulating local communities and economies through job creation. By focusing on local employment when establishing or expanding production bases, businesses can grow and prosper together with members of the community, building better ties as we move forward with globalisation.

There are many cases of sustainable businesses in Singapore and the region. Singapore Business Federation's (SBF) efforts in recognising companies' efforts to meet the need for deployment of environmentally-friendly technology with the presentation of the Singapore Sustainability Awards (SSA), is a positive move. This helps in increasing the awareness and need for sustainability and should be applauded.

Among the remarkable winners of the award in 2015 was personal products giant Kimberly-Clark, who was recently praised for its efforts in water reduction and for investing significantly to support the water needs of the communities in which the firm operates. In Asia Pacific, they achieved a 40 percent reduction in absolute water consumption and a 15 percent reduction in absolute greenhouse gas emissions (both against a 2010 baseline) for the business.

Canon, which won the Green Technology Award in 2015, had an interesting case study. This effort was jointly supported by National Environment Agency (NEA), National Library Board (NLB), and Canon. All three came together for a project called Project Homecoming, which encouraged printer manufacturers to start a national recycling programme for ink and toner cartridges.

This project aimed to foster a recycling culture within the community by bringing greater convenience to the public who are keen to make a personal contribution to recycling efforts across the island, and really helped the different partners with bringing good to the society.

Of course, the journey is not always easy. Each company will be at a different point in this journey but ensuring sustainability creates value for the business, and should be a big part of the business equation. Sustainability ensures that business and society and the environment work together to the best possible way to achieve prosperity for longevity and growth.