Recognising Companies as Drivers For ChangeSINGAPORE - Media OutReach - 4 May 2023 - Brands For Good, a Singapore-based non-profit organisation founded in 2017, is proud to announce the 5th edition of the Brands For Good Awards for 2022/2023. At the forefront of promoting businesses that embrace "goodness" and that make initiating positive change a part of their DNA and culture. Each year Brands For Good sets an award theme to promote the different underlying themes of "doing good in business" (given in Appendix A). This year's awards seek to recognise purpose-driven companies.
By recognising the vital role that businesses play in society, for economic development, as well as being people developers, Brands For Good was set up to help businesses transform into leaders of positive change, and to promote the idea of 'activist entrepreneurship'. According to Brands For Good, activist entrepreneurship refers to the approach taken by business owners and entrepreneurs who actively engage in social, environmental, or political causes while running their businesses. This concept combines the traditional aspects of entrepreneurship with a focus on activism to create a more conscious, responsible, and values-based approach to business. Activist entrepreneurs prioritise using their businesses as a platform to support causes they care about, while also ensuring ethical practices, employee welfare, community engagement, and transparency. Since the founding of Brands For Good, the organisation has helped more than 250 companies to undergo internal transformations for social good.
In today's business landscape, consumers and even employees, will consider buying from or joining companies and brands that place importance on social impact beyond financial success. Thus, atop profitability, Brands For Good awardees are also judged on additional matrices such as social impact, accountability and transparency. This year, Brands For Good judges will be on the lookout for clarity of mission and purpose. Brands For Good believes that purpose-driven companies that prioritise social responsibility and sustainability will not only able to meet the expectations of consumers, but also to create long-term value for their stakeholders. The annual awards is not just a celebration of achievements by exemplary companies, but also a call to action for other businesses to follow their lead. By emphasising the importance of purpose and social responsibility, the Brands For Good Awards also recognises businesses that are leading the way in creating a better future for all of us.
Brands For Good nominees undergo a strict review of their submissions by a panel of renowned experts. Each category features judges with specific experience in the category, and who have a deep understanding of the challenges and opportunities the brands face in today's marketplace - to qualify businesses that are truly exemplary in their field.
Award categories include:
Business For Good: This category recognises businesses that have successfully implemented differentiated business models and/or innovative internal processes to achieve not only economic but also social and environmental goals.
Capital For Good: This category celebrates investment funds (including venture capitals and family offices) that are generating good return on investment from their successful selection and investment in companies that achieve not only economic but also social and environmental goals.
Leadership For Good: This category acknowledges purpose-driven brands, companies and/or individuals that have shown industry and ethical leadership towards meeting impact goals and social change.
Technology For Good: This category spotlights and awards brands for the invention or innovation of technology that addresses social and/or environmental challenges and capture market opportunities.
Brands For Good Awards Ceremony 2022/2023
This year's ceremony will be held on on 4 May 2023, from 9am to 1pm at Marina Bay Sands (Hibiscus Room). Minister Edwin Tong, Minister for Culture, Community and Youth and Second Minister for Law will be the Guest-Of-Honour at this year's award ceremony.
The ceremony will recognise 36 companies from over 100 nominations and expects 500 business leaders to attend. There will also be a panel discussion on "Looking Ahead: The Future of Doing Good", discussing whether new technology such as artificial intelligence platforms like ChatGPT can help businesses do good.
Brands For Good Pledge Challenge
In March 2023, Brands For Good launched the "Brands For Good Pledge Challenge", seeking to acquire pledges from more than 1,000 companies, that will pledge to uphold the ethos of being an honourable brand, that will uphold the stewardship of doing what is right, and what is good for the community, for people, for the environment, when conducting their business. The organisation is proud to boast an active community of like-minded business owners who continue to uphold a completely new standard to doing good.
To date, more than 250 pledges have been received and these companies will be invited formalise their pledges at the ceremony in a Pledge Taking Session at the Brands For Good Awards Ceremony 2022/2023.
For more details on the Brands For Good Awards or to nominate companies for 2024/2025, visit www.brandsforgood.asia/bfg2024-nominate. Nominations for next year's edition will be open on 5 May 2023.
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About Brands For Good
In 2017, Brands For Good started as an idea among 3 individuals. It was founded shortly thereafter by four founding partners – IPOS Society, International IP Commercialisation Council, Singapore, CEO Asia Pte Ltd and Maybank - to recognise businesses whose business innovation not only make a difference but also create positive impact on Environment, Social and Governance (ESG). Today, Brands for Good Limited, is a non-profit organisation dedicated to award businesses for their exemplary business model in embodying the principles of Social Responsibility as integral to their business. Going-forward, we hope this recognition will honour SMEs across Asia and inspire many more to do the same.
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