Thaipat Announces 2016 CSR Trends, Unveils ‘Non-loss, Non-dividend’ Social Business Initiative in Thailand
Thaipat Institute reveals 2016 CSR trends to guide Thailand’s private sector towards Sustainable Development Goals (SDGs). Thai businesses are advised to align their operation in response to the SDGs. Creating value by win-win approach with Social Business model helps initial investment remain intact.
Dr.Pipat Yodprudtikan, director of Thaipat Institute, the Foundation for Thailand Rural Reconstruction Movement under Royal Patronage, says at the annual conference on 2016 Corporate Social Responsibility or CSR trends today (10 March 2016) that, “The world is stepping into a new era whereby SDGs lay the roadmap over the next 15 years. Companies that see SDGs as an opportunity will transform their business models to serve societal needs and tap into new markets, at the same time driving corporate growth and success, jumping far ahead of companies that unable to align their businesses to the SDGs”.
Thaipat Institute has compiled the Thailand CSR movement in its “6 CSR Trends in 2016: New SD Paradigm” report, and given to more than 200 participants at the today’s event so as to equip them with the directions how businesses can contribute to the universally-adopted SDGs and to address all stakeholders expectations around the SDGs. Delivering business and social results at the same time.
In 2016, businesses which have affected by the volatile economy and the dipping of oil price as well as various commodities, such as energy and steel firms, need to shift their business strategies from focusing company growth to achieving corporate sustainability in a manner that are aligned with environmental and social issues considerations. The strategies need to turn environmental and social issues into business opportunities to bolster competitiveness and profitability of the firms.
Also, the firms which pursue social contribution in term of philanthropy will need to balance their CSR budget in line with ongoing economic slowdown. The concept of non-loss, non-dividend Social Business, conceived by Professor Muhammad Yunus, will become a prominent option to charity-based CSR this year. This option can turn a charity dollar which has only one life into a social business dollar which can be invested over and over again.
Thaipat Institute, in collaboration with the Thailand Social Business Initiative (TSBI), therefore holds the seminar on “Social Business: A Solution to achieve SDGs” in the today’s event so as to exchange the knowledge on Social Business concept and its application in solving social problems within the Thailand context, including the discussion on Social Business Initiative as a solution to achieve SDGs. Speakers include Dr.Faiz Shah, director of Yunus Center AIT, and Dr.Soontorn Koonchaimang, working group member on Social Business Initiative under the Ministry of Interior.
Globally, sustainable investment assets have expanded dramatically in recent years. The 2014 survey from the Global Sustainable Investment Alliance (GSIA) indicated the number of impact/community investing is over $100 billion. It marks a significant increase of 26 percent from 2012.
In the European Union, there are 2 million social enterprises which create 11 million jobs. One out of four new entrepreneurs in Europe is a social entrepreneur. In 2011, the European Commission launched the Social Business Initiative to support the development of social enterprises, including key stakeholders in the social economy and social innovation, which represent 10 percent of the EU’s GDP.
Currently, several nations have developed various forms of social enterprises. For example, there are Community Interest Company (CIC), Benefit Corporation (B-Corp), Low-profit Limited Liability Company (L3C), Social Purpose Corporation (SPC), and Flexible Purpose Corporation (FPC).
In Thailand, the concept of non-loss, non-dividend Social Business, conceived by Professor Muhammad Yunus, is anticipated to use as a mechanism to help the poor and the disadvantaged, and a tool to attain zero poverty, zero unemployment and zero net carbon (CO2) emission in line with the targets of SDGs from 2016 onward.
Thaipat Institute has published the “Creating Social Business” book with aim to help entrepreneurs and businesses understand Yunus’ Social Business concept. The book also features 10 social businesses joint venturing by multinational partners and Grameen organization in Bangladesh. Interested companies can request a free copy of the book from Thaipat Institute or find more information at www.thaipat.org.
For more information, please contact
Thaipat Institute: Piyalakha Laitae, Tel. 0 -2930- 5227