What is Corporate Social Responsibility(CSR)?
Corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefit society. It is important that more companies continue to take up good CSR as well as to improve them, this is because consumers’ awareness about global social issues are continuing to grow, therefore they will choose places to shop at that has good CSR. Surprisingly, consumers are not the only ones that care, as top talents around the world are also wanting to work in companies that practices good CSR.
Types of Corporate Social Responsibilities(CSR)?
Environment: Many companies focus on reducing the emission of large carbon footprint as it is both good for the company’s image and also the society as a whole.
Philanthropy: Companies also helps the needy by donating to local and international charities. They also offer their time and effort by participating in local community programs.
Ethical Labor Practices: By treating the employees fairly and ethically, these companies are also demonstrating CSR.
After researching for companies in Singapore that demonstrates good CSR, i came across one called City Developments Limited. Just a quick glance from their website, i could see that they have continued to demonstrate good CSR and have achieved numerous awards. For example, the company have made it to the 10th position in 2016 in the Global 100 Most Sustainable Corporations in the World, which made a drastic improvement from year 2011 when they were only placed 100th position. This shows that they have been determined to improve on their CSR over the years.
City Developments Limited(CDL) have also done a lot of community work over the years. They have 4 major areas, which is charity towards the needy and less fortunate, the environment, youth development and the arts. To help the community, CDL works closely with the government, non-governmental agencies, public and private organisations on wide-ranging community initiatives.
CDL have also been advocating on environmental sustainability in Singapore’s built environment to prevent pollution to the environment, and to apply environmentally-friendly practices in their operations. Therefore, i feel that CDL has great CSR as they focus on many aspects such as the environment, the community, and their charitable donations to help the needy. Companies in Singapore and around the world should use CDL as their role model and learn from them, so as to promote good CSR which will benefit both their company and the environment.
More information on their CSR and their work can be seen on their website at