22 August 2025 – The Singapore Business Federation (SBF) and SBF Foundation today launched the inaugural Social Sustainability Study to better understand how companies in Singapore are advancing purpose alongside profit.

The study, which drew responses from 438 companies across 14 sectors, revealed encouraging progress: nine in ten businesses recognize the importance of social sustainability, particularly in enhancing reputation and employee engagement. However, only half have dedicated resources to drive such initiatives, with many citing competing priorities and resource constraints as key barriers. What would help? Companies highlighted the need for three enablers: financial incentives, training and capability building, and standardized metrices and frameworks.

The event, attended by 100 participants, also featured a lively panel discussion on how businesses can translate intent into action. Panelists shared practical insights on overcoming internal challenges, securing leadership buy-in, measuring impact, and the growing role of corporate volunteering in driving meaningful change.

Ms Grishma Kewada, Chief Executive and Country Manager of Coface Singapore, remarked: “Corporate volunteering allows us to align our business values with meaningful action, creating a positive impact for both our employees and the community we serve.”

Mr Samuel Teh, General Manager of Cook Medical Singapore, added: “We hope that through the scaling up of our corporate volunteering efforts, it will pave the way for a stronger, more impactful relationship with the local community in Singapore.”

Jean Tan, CEO of SBF Foundation and Chief Social Sustainability Officer at SBF, underscored the importance of a unified framework for measuring social impact, which could help businesses better track, report, and be recognized for their contributions: “Today, many guidelines sit in silos, which can be confusing for companies. A consolidated framework with standardized metrics would reduce ambiguity, promote fairer competition, and even unlock incentives such as tax reliefs or preferential access to contracts. Just as carbon credits reward environmental efforts, we could introduce a Social Impact Points System to measure and reward activities like corporate volunteering, inclusive hiring, or well-being policies.”

The event also marked the official launch of VolunteerInc., SBF’s national corporate volunteering programme. Designed to support companies of all sizes, especially SMEs, VolunteerInc provides practical tools, training, and project management support to help businesses mobilize their employees as skilled volunteers. It also includes mechanisms to measure social impact, making it easier for companies to integrate volunteering into corporate culture and long-term strategy.

The day concluded with a strong call to action: social sustainability is no longer a “nice-to-have,” but a business imperative. With initiatives like the Social Sustainability Study and VolunteerInc., SBF and its Foundation are committed to helping companies harness the power of purpose, for stronger businesses and a more inclusive Singapore.