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ESG: Social impact is the true measure

Impact sought: ESG seeks to ensure that corporates and other players positively affect the environments and communities they operate within PIC: SHUTTERSTOCK
Impact sought: ESG seeks to ensure that corporates and other players positively affect the environments and communities they operate within PIC: SHUTTERSTOCK

“Businesses must reconnect company success with social progress. Shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success. It is not on the margin of what companies do but at the centre. We believe that it can give rise to the next major transformation of business thinking.”

This quote from American author and academic Michael Porter has been a guiding principle for much of the work we as a bank have done as we have embraced the world of Environmental, Social and Governance (ESG) principles throughout our business.

If we look back, the term “ESG” emerged in 2005 where ESG principles found its roots as part of a study entitled “Who Cares Wins” conducted with private and public sector experts in conjunction with asset managers, bankers and analysts where bottom-line profits at all costs were reviewed against long-term sustainability metrics and business goals.

Editor's Comment
A promising step for public schools, but...

For too long, the state of many public schools has been a source of shame. We have all seen the pictures and heard the stories of broken windows, unreliable water and electricity, topped by classrooms that are not fit for proper learning. The establishment of the Education Infrastructure and Management Company Ltd (EIMC) signals that authorities are finally ready to take this problem seriously. We must commend the government for this initiative....

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