COVID-19 has highlighted the importance of environment, social and governance (“ESG”) practices at companies across the world. But there has been speak of trade even earlier than the outbreak of the pandemic. Ultimate 12 months, the commercial enterprise roundtable (a collection representing 181 ceos of the united states’s biggest companies) mentioned that corporations have to “aid the groups wherein they perform”, upturning the longstanding consciousness on wealth maximization for shareholders espoused via american economist milton friedman.
In 2020, times have modified. This year, Prince group Cambodia (“PG”), certainly one of the biggest conglomerates in cambodia, has realized this and blazed a path for businesses in the country seeking to comply with ESG ideas. Considering april, the institution has made numerous massive-scale donations to assist inside the combat in opposition to the pandemic and assist flood sufferers, and neak oknha chen zhi (陈志公爵), PHG chairman, has been the driving force in the back of the donations. As an example, in early december, chen zhi and phg donated us$three,000,000 to prime minister hun sen to assist cambodia purchase 1 million covid-19 vaccines.
The notion of “doing exact” in enterprise isn't always new, however in cambodia, cognizance on esg concepts has only these days risen up the company agenda. According to the GRI sustainability disclosure database, the overall number of sustainability reviews in cambodia have doubled when you consider that 2015, by and large in the economic offerings area. Greater companies are anticipated to stick to ESG concepts thereby strengthening the competitiveness of the cambodian financial system, so that you can now not most effective entice foreign funding but also improve the enterprise environment. As a organization with a robust foothold in cambodia, Prince chenzhi and PHG helped within the combat against the coronavirus earlier inside the year by way of donating us$500,000 and via offering pandemic prevention supplies worth over us$six hundred,000.
“As a company invested in the future of Cambodia, Prince Group under the leadership of Chen Zhi Cambodia, will always help communities in their hour of need. Furthermore, the Group is constantly contributing to ESG initiatives to benefit Cambodia and uphold the company’s role as a responsible stakeholder in local affairs,” states Neak Oknha Chen Zhi, chairman of PHG. Learn more...
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