Businesses urged to contribute to responsible growth in Asia

“A business can only be as strong as the society in which it operates,” stated Cherian Mathews, Asia regional director of Oxfam GB, as he challenged businesses to play an active role in contributing to an equitable and prosperous future for all in his keynote address at the “CSR Asia Summit” in Bangkok.

The event brainstorming the role of corporate social responsibility is being held by CSR Asia at Sofitel Centara Grand Hotel, CentralPlaza Ladprao, until today.

Mathews said millions in Asia still battled poverty because of vulnerability and exclusion. 

“In Asia, building resilience to shocks, particularly from climate change, volatile food prices and social inequalities, must be a top priority for the private sector, in its own self-interest,” he said. 

Over the past 20 years many Asian economies have grown rapidly, driven by and benefiting businesses in every sector, and lifting hundreds of millions of people out of poverty. “This pace, however, has also been volatile, and leaves Asia with issues such as growing inequality, lack of social cohesion, rapid urbanisa-tion, water shortages, and a range of climate-change-related disasters,” said Professor Richard Welford, chairman of CSR Asia.

There are many ways that the private sector can contribute to responsible growth and inclusive development, according to Welford. 

“Step 1 is getting your house in order,” he said. “Companies need to ensure their operating procedures do no harm, and maximise opportunities to contribute to environmental sustainability and social stability.” 

The next step is to find ways to have a major impact on the lives of those living in poverty. 

“Innovate your products and services to meet the needs of Asia’s poor. Or open your value chains to provide opportunities for employment, income earning and knowledge sharing to those now excluded from the formal system,” Welford urged the audience of business leaders.

Stock Exchange of Thailand president Charamporn Jotikasthira said in his keynote speech: “To assure investors that the Thai market will sustain its attractiveness, we continue to enhance the ‘quality’ of the Thai capital market. 

“Central to these efforts are the promotion of ever-greater good corporate governance and social and environmental responsibility. The exchange offers its full support to listed firms as they incorporate CSR into their operations.

“I can reassure you that CSR has definitely become one of the most crucial issues for Thai capital market development,” he told the 400 participants.

At the same event, Suphachai Chearavanont, president and chief executive officer of True Corp, said he believed that the communications and access to knowledge and information were rights for Thai citizens, and not a privilege. 

“True’s commitment is to bridge the digital divide in Thailand. Through our integrated communications infrastructure across the country we bring together diverse communications technologies and innovations not only for our stakeholders, but also for underprivileged members of society so that they can have equal access to knowledge and information. 

“In doing so, True has undertaken to play a leading role in helping Thailand develop into a knowledge-based society.”