Thursday, September 19, 2019
Setting an Example for Corporate Social Responsibility
With its five subsidiaries, the financial holding company here has been in forefront of executing the corporate social responsibility and green management
Setting an Example for Corporate Social Responsibility
  • By matthew
  • August 22, 2011, 14:44
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The corporate social responsibility (CSR) activities of Standard Chartered Korea (SC Korea) have set an example to the others in the industry. The financial holding company not only pursues the growth of the banking industry via its business here, but also intends to contribute to the protection of the natural environment while acting as a constructive partner of local communities.

SC Korea has four strategic directions with regard to its CSR activities: providing constant and consistent aid instead of one-time pecuniary assistance.

Green Management by Standard Chartered Korea

The holding company and its five subsidiaries, including SC Korea First Bank, share the philosophy that no corporate entity can attain sustainable management, not to mention profits, without public support. It is this conviction that has constituted the backbone of its social contribution activities.

The company’s CSR activities have revolved around volunteer work since 2006, when the company began to give its employees days off for the purpose of social services. Until 2010, the staff of the holding company and its subsidiaries recorded 7,000 accumulated hours of volunteer activities.

Employees are also engaged in various energy conservation programs inside the company, such as making it a habit to turn off some electric appliances in their offices, replacing monitors with energy-saving ones, and using the stairs instead of elevators whenever possible. Such efforts are supported by hands-on programs like the Best Practice competition, Green Office campaign and idea contests. The Green Printing campaign is conducted in a similar thread, reducing papers usage by 20% every year.

Social Contribution by Standard Chartered Korea and Affiliates

SC First Bank, along with its parent company, has done its utmost to protect the natural environment of the nation and communities it conducts business in. In that vein, the 3rd Young Climate Change Ambassador (YCCA) held a fashion show under the theme of climate change at the COEX Millennium Plaza on June 1. It was hosted by the British Council and Standard Chartered Korea.

At the event, eight student designers affiliated with the Blue See Green project group presented recycled clothes in order to increase public awareness in regards to recycled clothing and the marine environment. The participants had an interesting experience doing paper cup reform craft and taking an oath to preserve the environment. The event was highly instrumental in giving them an opportunity to become more familiar with the World Environ-ment Day held on June 5.

Meanwhile, on February 23, the bank held a donation event for Hansarang Campaign 2011 at the head office located in Jongno, Seoul. Standard Chartered CEO Richard Hill and Chairman Lee Dong-geon of the Community Chest of Korea graced the occasion in celebration of the welfare movement's 10th anniversary. At the ceremony, executives and staff members delivered their donations for 2011, worth 579 million won, to the charity.

Chae Shi-ra, a famous actress and honorary ambassador of the organization, also attended the ceremony, showing her gratitude for their decade-long endeavor for the balanced growth of society. The cumulative donation currently totals approximately 5.4 billion won, with the company contributing the same amount as the employees under the Matching Grant program.

“I believe that the Hansarang Campaign, which is of our employees’ own volition, symbolizes the commitment of Standard Chartered to Korean society”, said the CEO, adding, “I am proud of everyone who has opted to be a member of the outreach and I would like to show my heartfelt appreciation once again for their tireless work for the sake of those in need of our help.”

Standard Chartered Bank has been in business in Korea since it opened its first local branch, the Jemulpo office, here in the late 1880s. In 1968, it became the first European bank to open an office in Seoul. It acquired Jeil Bank in 2005 and renamed itself SC Korea First Bank.