Speech by MR Teo Ser Luck, Minister of State FOR Trade and Industry, at the INAUGURAL NATIONAL YOUTH CONFERENCE ON CSR ON SATURDAY, 6 APRIL 2013, 9.20AM AT ITE EAST CAMPUS
Mr Kwek Leng Joo, President of Singapore Compact
Mr James Soh, Executive Director of National Youth Achievement Award Council (NYAA)
Distinguished Guests, Ladies and Gentlemen,
A very good morning.
1. I am delighted to be here this morning at the Inaugural National Youth Forum on CSR. Today’s event covers two important topics that are close to my heart – youth and the role of business in society which is also known as corporate social responsibility or CSR.
2. A group of young people conducted a survey[1] among 1,800 polytechnic and university students earlier this year. They were asked to write down something meaningful in life they want to do and what would make them happy. The three top responses were travel, spending time with the family and contributing to society.
3. I like these choices because they are about opening up our minds and experiences through travel, maintaining relations with your loved ones and contributing towards a better world. The youth of today know that happiness does not come by material achievements alone. Good academic results are important but you need to be able to look beyond good results, good jobs and good income to achieve sustained happiness.
4. You are here today to learn how businesses can make a difference and how you can be part of this changing force to shape your future. Businesses that adopt CSR as part of their core values also look beyond being profitable and wealth creation. They look at how they can contribute to the well-being of society and the environment at large.
5. Historically, Singapore’s economic and social success was built upon these same principles. We can say that we were built upon the foundation of corporate social responsibility from the time we achieved our independence in 1965. During that period we faced many challenges such as high unemployment, housing shortages, unhygienic environment, low wages to name a few. We overcame these challenges by working together, by sharing responsibilities and by trying to achieve a better environment for our people and our families.
6. It is still the same challenge that we face today, although the circumstances and issues may differ. We have to create a society which is prosperous for all and where this prosperity is enjoyed with dignity and respect in an environment that is healthy, safe, clean and green. The Government’s role will be to create the right conditions for this to happen. Businesses, civil society and individuals have to work together to do well and to do good. That has also been the ethos of Singapore Compact which reflects the CSR ideals.
7. Singapore has to be a value-driven society. It was values of working together, understanding and meeting the expectations of different stakeholders that enabled us to have an inclusive society where everyone matters today. It enabled individuals to realise their potential. It enabled us to contribute to society and enrich ourselves in the process. Ultimately, social responsibility, be it that of an individual or a corporation, must make a positive difference to our lives and society. The Government will continue to support the embedding of social responsibility and best practices for long term sustainability of the environment, business and people.
8. I am heartened to hear that our youths today are placing great importance on contributing to the society. We are confident that we can work together to create a sustainable and better future for ourselves and our families. As young people, you are free to dream about the future you want and in today’s world, you are given many opportunities to make a difference and drive changes.
9. Let me conclude by congratulating Singapore Compact and NYAA for the partnership in spearheading this novel initiative. I wish you all success in inspiring our youths and grooming our next generation of CSR champions.
10. Last but not least, I wish all of you a meaningful and productive forum session. Thank you.