2024
SBF Foundation welcomes the President of the Republic of Singapore, Mr Tharman Shanmugaratnam, as its first Patron
Strategic donors alongside SBF and SBF Foundation Directors, together with President Tharman Shanmugaratnam (centre) and Ms Jane Ittogi at the Corporate Purpose Roundtable hosted by SBF Foundation.

“The SBF Foundation’s commitment to building a socially and environmentally responsible business community is much needed. From recognising how we depend on each other, to taking critical actions to transit to a more sustainable economy, it will ultimately be decisions by businesses, the community, and individuals, that make us the better society that we all benefit from.” –  Mr Tharman Shanmugaratnam, President of the Republic of Singapore.

SBF Foundation, the social impact arm of the Singapore Business Federation (SBF), extends a warm welcome to the President of the Republic of Singapore, Mr Tharman Shanmugaratnam, as its first patron. Identifying with the President’s vision of fostering a culture of respect and dignity for all, the Foundation aims to rally the business community to build a more inclusive and sustainable Singapore.

Corporate Purpose Roundtable

The inaugural Corporate Purpose Roundtable was held at the Istana on 6 Feb and graced by President Tharman Shanmugaratnam. The strategic donors – founding members of the Corporate Purpose Roundtable, came together to exchange insights on current issues and challenges faced by the business community, and discuss how the collective efforts by businesses, including SMEs, can address societal gaps and uplift our communities.

The Corporate Purpose Roundtable provided a unique platform for business leaders to delve into critical questions regarding enterprises’ corporate purpose and the societal impact of their decisions and actions. The roundtable is part of The Corporate Purpose Initiative (TCPI) which was announced at SBF Foundation’s 10th Anniversary in November 2023.

“The inaugural Corporate Purpose Roundtable reinforced the notion that our collective responsibility goes beyond profit-making. By aligning our values with our actions, we can pave the way for a business ecosystem that not only thrives economically but serves as a force for positive transformation in society. As forward-thinking leaders, we can usher in a new era where businesses are not just contributors to the bottom line but champions of social and environmental well-being.” – Mr Sherman Kwek, Group CEO of City Developments Limited

The Corporate Purpose Initiative (TCPI)

TCPI will be SBF Foundation’s focus for its next phase. It will be the platform for businesses to come together to co-create co-curate and scale new and existing programmes to address gaps in the system and have potential to be social impact multipliers.

Mr Hsieh Fu Hua, Founder of BinjaiTree said, “In the last couple of decades, social responsibility has become a part of corporate values. Besides profits, organisations now seek to create shared value for their communities and also take responsibility for the environment. SBF Foundation’s Corporate Purpose Initiative is an important step forward in rallying organisations in this regard.”

Through the TCPI, SBF Foundation will facilitate more business collaboration and encourage contributions of funding, expertise, and corporate volunteering, to ensure a more comprehensive and impactful approach. The Foundation will also undertake more evidence-based research and storytelling to showcase the tangible social impact outcomes for businesses and drive positive change and empowerment within the business ecosystem.

“Doing good is a mission that requires the collective efforts of all members of society, but especially businesses and business leaders, who stand at the intersection of profit and purpose. Businesses and business leaders must be guided by a moral compass which points towards creating meaningful societal impact and should lead the way in shaping a future where economic success coexists with positive change.” – Mr Jonathan Ng, CEO of Far East Organization

Ms Janet Ang, Chairman of SBF Foundation said, “SBF Foundation is very honoured to have President Tharman as our Patron. We hope to catalyse ideas and initiatives to drive collective effort amongst our businesses both large and small, to support our business ecosystem – especially our SMEs in their corporate purpose journey and their ESG efforts to build sustainable businesses. We look forward to rallying the business community to renew their corporate purpose and take positive next steps to create collective social impact in Singapore. Together, we can pave the way for a more compassionate, sustainable, and socially responsible business landscape in Singapore.”

 

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