Responsible Business Summit Asia 2015

Best practice for the first Responsible Business Summit Asia

With about 100 registered participants from Singapore, Hong Kong and China, India, Japan, the Philippines, Sri Lanka, Thailand, Australia, Europe and the US, the first Responsible Business Summit Asia initiated discussions between representatives from corporations, academia, press, non-for profit as well as some government agencies. It was organised by the Ethical Corporation on 6-7 May 2015 in Singapore.

Participants got hands-on advice how to get the company’s sustainability efforts understood by its target audience, how to better engage communities to minimise social risks and build trust, and how to ensure responsible business consistency throughout the supply chain, learning from diverse industries including banking, beverages, chemicals, consumer goods, health, palm oil, resource extraction, telecom, transportation. The guiding question – when and how does sustainable innovation pay off – was answered by in-depth analysis and best practice sharing, including strategies for product innovation by embedding social and environmental standards, and learning from crisis before it happens. The presentations showed that even the classical sustainability themes – stakeholder engagement and reporting – are under continuous development. The most successful cooperation between a company and an NGO (Greenpeace) came – surprisingly? – out of the palm oil industry. The discussion on employee engagement included recommendations how to promote skill-based volunteering. In reporting, the focus on (social, environmental and economic) impacts rather than mere outputs is the international trend, and some companies develop new formats for their sustainability reports, tailor-made for different target groups.

Given the high level of competence and active participation, collaboration and innovation for sustainable business growth in region can be expected as a benefit of the summit. We will keep you informed about follow-up events.

what accountants need to know integrated reporting

What Accountants need to know about Integrated Reporting

Paia presented a paper on Integrated Reporting at GRI Regional Conference held in Melbourne on 26-28 March 2012.

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sustainability indexes asia

Sustainability in Asia in early stages but much progress has been made

The journey for sustainability in Asia is young, but sustainability professionals are encouraged by the progress.

After SGX released a policy statement and guide to sustainability reporting in June 2011,  The Business Times examined the role of sustainability indices and disclosure for investments.

Carrie Johnson, Director of Paia Consulting, was invited to share her thoughts on the Asian Sustainability Rating (ASR), an analysis of listed companies’ disclosure on sustainability issues.

The following is extracted from the actual article published in the Business Times:

Carrie Johnson, director of Paia Consulting sees the index as a catalyst for change. She says:

‘Sustainability indexes significantly help sustainability issues get credibility at the senior management level. Once the senior management team realises that investors are taking sustainability seriously, it helps raise the profile of sustainability internally. In fact, companies that list on sustainability indexes get exposure to a wider range of investors, who may not otherwise consider them. Several investor analysts now include sustainability risks in their overall risk assessment of companies. Being on a sustainability index helps reassure those investors that sustainability risks are being managed.’

Much progress made in sustainability in Asia – full article on Eco-Business.