First Sustainability Impact Award recognizing exemplary leadership in sustainability (2023)

SINGAPORE,February 1, 2023/PRNewswire/ --To recognize the sustainability efforts of individuals and companies inSingapore, and to encourage such business practices, UOB and The Business Times (BT) have come together to launch the first Sustainability Impact Awards. The opening ceremony and presentation of the award logo was in charge of Dr.amy coro, Chief Minister of State for Sustainability and the Environment, at the SPH Media news center this morning.

The awards aim to recognize and celebrate individuals and companies that have made a significant positive impact on the environment and the well-being of society through their sustainability initiatives.

The Center for Governance and Sustainability (CGS) ofNational University of SingaporeThe Business School is the knowledge partner of the award.

EMChen Huifen, editor of The Business Times, said: “In recent years, environmental, social and governance (ESG) issues have been a key concern for many. To help our readers navigate this rapidly evolving ecosystem, BT has prioritized and continues to strengthen our ESG reporting. We are honored to partner with UOB on the awards, which we believe will become a useful platform for sustainability advocates to develop and share their stories while serving as beacons of success for others."

Before revealing the awards logo, Mr.eric lim, Director of Sustainability at the UOB, spoke about the bank's longstanding commitment to partnering with its stakeholders to fulfill a purpose focused on creating positive environmental and social impacts.

The Lord. Lim said: "In a recent survey of SMEs conducted by UOB, we found that 76 percent of companies in key industries inSingaporethey now value the importance of sustainability, up from 60% in 2021. Sustainable impact is fundamentally tied to the concept of corporate and personal purpose when value is created in a meaningful way, and the Sustainability Impact Awards exemplify the essence of this belief.” .

The awards - which will be open from February 1 until nominationMarch 31, 2023- will be judged by a prestigious jury chaired by Mr.Lee Chuan Seng Free Mp3 Download, President of the National Environment Agency. They accompany him:

EMChen Huifen, editor the BT;
Teacherlaurent loh, Director de CGS na NUS Business School;
Herr Chia Ngiang Hong, Group General Manager of City Developments Limited;
Señorjeffrey siow, Managing Director and COO of Enterprise Singapore;
Señormiguel spike, Head of Product Listing and Admission Policy, Singapore Stock Exchange Regulations; and
EMTeresa Goh, Executive Founder of 360 Dynamics.

Regarding the judging criteria for the award, Professor Loh said that responsible business management is a basic requirement for all categories. While nominees can come from any industry, Individual category candidates are judged based on behavioral and qualitative characteristics, and companies in the Corporate category must demonstrate their internal sustainability practices and the extent of their impact.

“In our pursuit of sustainability, it is important that we go beyond products and results. What is more important, what really matters is the actual impact on people's lives and their living environments. Through the Sustainability Impact Awards, we hope to identify models that have made a real difference, pushing the boundaries of environmental and social impacts rooted in good governance," said Professor Loh.

Interested natural and legal persons can download the registration form on the websiteawards site. the application deadline isMarch 31, 2023.

More information on the evaluation criteria of the Sustainability Impact Awards can be found in the annex.

-FIM-

About SPHMedia

SPH Media is a leading media group active in publishing newspapers, magazines and books in print and digital formats. It also owns and operates other businesses, such as radio stations and outdoor media. SPH Media's mission is to be the trusted source of newsSingaporemiAsiarepresent the congregations that compose themSingaporeand connect them with the world. The business is in the hands of SPH Media Trust, a limited liability company. More information about SPH Media can be found atwww.sph.com.sgand our social media channelsFacebook,Instagram,LinkedIn, miYouTube.

About business times

SingaporeThe only English-language financial daily, The Business Times (BT), is the definitive guide to local, regional and international business markets. Along with company news and commentary, BT covers the start-up, wealth, real estate, lifestyle and SME scenes, telling you what you need to know about ASEAN and the region.

See bt.sg for more information.

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About the UOB

UOB is a leading bank inAsiaWith a global network of nearly 500 offices in 19 countries and territories throughoutPacific Asia,EuropamiNorth America. Since its creation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is ranked among the best banks in the world: Aa1 by Moody's Investors Service and AA- by S&P Global Ratings and Fitch Ratings. In itAsia, the UOB operates through its headquarters inSingaporeand subsidiary banks inPorcelain,Indonesia,Malaysia,thailandmiVietnam, as well as branches and representative offices in the region.

For more than eight decades, generations of UOB employees have passed on an entrepreneurial spirit, a focus on long-term value creation, and an unwavering commitment to doing the right thing for our clients and colleagues.

We believe in being a responsible financial services provider and are committed to transforming the lives of our stakeholders and the communities in which we operate. Just as we are committed to helping our clients manage their finances wisely and grow their businesses, UOB tirelessly supports social development, especially in the areas of the arts, children, and education.

About the Center for Governance and Sustainability (CGS)

The Center for Governance and Sustainability (CGS), formerly known as the Center for Governance, Institutions and Organizations (CGIO), was founded byNational University of Singapore(NUS) Business School in 2010. Its aim is to promote relevant and impactful research on corporate governance (CG) and corporate sustainability (CS) topics that are relevant to institutions, government agencies and businesses.SingaporemiAsia. This includes corporate governance and business sustainability, governance of family businesses, state-owned companies, business groups, and institutions. CGS also hosts events such as public conferences, industry conferences, and academic conferences on topics related to governance and sustainability.

The CGS is the national evaluator of the sustainability and corporate governance performance of public companies inSingapore. For more information about CGS, seehttps://bschool.nus.edu.sg/cgs/

NUS Business School is known for providing managerial thought leadership from an Asian perspective, enabling its students and corporate partners to take advantage of global knowledge and Asian perspectives. For more information, visit bschool.nus.edu.sg or go toBIZBeatSchool research presentation portal.

The school is one of the 16 NIS colleges and schools. A world leading university specializing inAsia, NU esSingaporeFlagship university offering a global approach to education, research and entrepreneurship with a focus on Asian perspectives and experience. Your transformative education encompasses a broad curriculum emphasized by multidisciplinary courses and college enrichment. More than 40,000 students from 100 countries enrich the community with their diverse social and cultural perspectives.

Adjunct

About the Sustainability Impact Award

The first Sustainability Impact Awards were officially launched that day.February 1, 2023, and is co-presented by The Business Times (BT) and UOB to recognize and celebrate people and companies that have made a significant positive impact on the environment and the well-being of society through their sustainability initiatives. The Center for Governance and Sustainability (CGS) ofNational University of SingaporeThe Business School is Knowledge Partner in the award.

Award Categories and Judging Criteria

UNIQUE CLASS

awards

Impact Leader of the Year
Individual Excellence Award

authorization

People must reside inSingapore.
People from organizations with a clear business purpose are invited to participate, including commercial enterprises, social enterprises, GLCs, charities and NGOs.
Individuals must meet the conditions specified in the declaration of appointment form.

evaluation criteria

The following framework and criteria are used to measure the impact of sustainability:

main attribute

Meaning:

People must demonstrate the importance of the real environmental and/or social results resulting from the implementation of the projects/initiatives/programs they lead.
The importance of meeting the needs of the community should be emphasized and articulated. The need can come from the company of the individual or from society.
It is not necessary to include indirect effects that lead to higher profitability.

Guide:

Individuals must demonstrate leadership in the effective implementation of projects/initiatives/programs.
Bonus points are awarded to individuals who have implemented pioneering projects/initiatives/programs and have influenced a variety of stakeholders.

essential attributes

Advocacy:

People need to demonstrate how committed they are to making the change and how they have engaged and motivated internal and external stakeholders. For example, how did he/she influence public strategies/decisions/policies/behavior of officials/political decision makers, etc.?

Reach:

Individuals are required to demonstrate how the projects/initiatives/programs they lead have had a positive impact on the local Singaporean community. People who have expanded their impact beyond Singapore to reach a larger impact area will receive bonus points based on the size of the impact.

Duration:

The duration of the impact refers to the amount of time that the relevant stakeholders have experienced the result. This award evaluates the impact in the short and long term.

Depth:

Depth of impact refers to the degree of change in the level of outcome experienced by relevant stakeholders. Examples could be the level of improvement in the lives of local communities or the level of improvement in energy efficiency.

Good governance (required)

Governing Leadership:

The individual must demonstrate how they maintain a strong mission and vision for their company and ensure that leaders at all levels are committed to fairness, transparency, diversity, equity, and inclusion.

Stakeholder participation:

People must demonstrate their practices regarding stakeholder engagement. This includes, but is not limited to, practices to improve internal stakeholder engagement and measures to engage external stakeholders.

Observance:

People must show that they do not have outstanding quotas.

Evaluation

Individuals are evaluated based on the social and/or environmental result attributed to their efforts rather than the size or impact of their business.
In the "Individual" category, individuals who have demonstrated outstanding achievements in either ecological or social aspects are honored, as well as individuals who have demonstrated outstanding achievements in both aspects.

COMPANY CATEGORY

awards

Small Medium Enterprises (SMEs)

Impact Company of the Year

Impact Business Excellence Award

Big company

Impact Company of the Year

Impact Business Excellence Award

authorization

Companies must be registered and have their headquarters inSingapore.
The Business category is subdivided into Small and Medium Enterprises (SMEs) and Large Enterprises.

- According to Enterprise Singapore, SMEs refer to companies with a turnover of up to$100 millionor maximum job size of 200 employees.

-Large companies have higher sales than$100 millionor employment size of more than 200 employees.

Companies with a clear business purpose are invited to participate, including corporations, social enterprises, GLCs, charities and NGOs.
Companies must meet the conditions specified in the nomination statement.

evaluation criteria

The following framework and criteria are used to measure the impact of sustainability:

main attribute

Meaning:

Companies must demonstrate the importance of real environmental and/or social impacts resulting from the implementation of projects/initiatives/programs.
The importance of meeting the needs of the community should be emphasized and articulated. The need may come from your organization or society.

Guide:

Companies must demonstrate leadership in the implementation of projects/initiatives/programs.
Bonus points are awarded to companies that have implemented pioneering projects/initiatives/programs and have influenced other entities such as companies, media or academic institutions.

essential attributes

Scale:

Organizations must demonstrate the scale of the impact, including but not limited to the affected stakeholders, the scale of the people affected, the scale of the people experiencing the result, etc.

Reach:

Businesses must demonstrate their contribution to Singapore's national priorities/national strategies/national development plans. Companies that expand their impact beyond Singapore to reach a larger impact area earn bonus points based on the size of the impact.

Duration:

The duration of the impact refers to the amount of time that the relevant stakeholders have experienced the result. This award evaluates the impact in the short and long term.

Depth:

Depth of impact refers to the degree of change in the level of outcome experienced by relevant stakeholders. Examples could be the level of improvement in the life of local communities, or the level of improvement in energy efficiency, etc.

Extra points

Synergy:

Companies that promote sustainability and work together with other institutions and stakeholders receive bonus points. Examples include engaging suppliers to promote a green supply chain or engaging consumers in a green lifestyle.

Innovation:

Companies would receive bonus points for demonstrating the creativity and originality of the projects/initiatives/programs.

requirements

environmental practices

objectives: Companies must present their objectives/visions/statements on environmental protection. Environmental protection includes, among others, waste management, energy saving, climate protection measures, etc.
strategies: Organizations should outline strategies and practices to achieve the above objectives/vision/statements.

social practices

employee welfare: Companies must demonstrate their practices to improve the well-being of workers. These practices include, but are not limited to, employee training and education, health and safety practices, diversity and inclusion practices, etc.

Good Governance Practices

dominant leadership: Companies must demonstrate their commitment to values that support the success of the company, employees, and broader stakeholders, including, but not limited to, fairness, transparency, diversity, equity, and inclusion.
Stakeholder participation: Companies must demonstrate stakeholder engagement practices. This includes, but is not limited to, policies/regulations that guarantee the rights of interested parties, opportunities for interested parties to get involved, etc.
Transparency and Disclosure: Companies must demonstrate the content of the disclosure and its means of communication. Disclosure content includes, but is not limited to, company financial disclosures, ownership structure, voting rights, compensation policy, related party transactions, risk factors, stakeholder issues, governance structure and policies.

Evaluation

Companies are evaluated based on the social and/or environmental results attributed to their efforts.
The “Companies” category recognizes companies that excelled in environmental or social aspects, as well as companies that performed excellently in both aspects.