Singlife named "Champion of Good" for leading ESG initiatives

Singlife named “Champion of Good” for leading ESG initiatives | Insurance Business Asia

Environmental

Singlife named “Champion of Good” for leading ESG initiatives

Environmental and social impacts outlined

Environmental

By
Roxanne Libatique

Singapore-based financial services provider Singlife has received the “Champion of Good” designation from the National Volunteer and Philanthropy Centre (NVPC).

This recognition highlights Singlife’s efforts in promoting environmental and societal impact.

Champion of Good

Singlife is one of 78 organisations awarded the “Champion of Good” title out of 290 companies recognised in the 2024 Company of Good cohort.

This marks the first edition of NVPC’s enhanced Company of Good Recognition System, which evaluates beyond traditional corporate giving metrics to assess progress in corporate purpose and impact in areas such as people, society, governance, environment, and economy.

Pearlyn Phau, group chief executive officer of Singlife, said the company was committed to offering customers a better way to financial freedom while making a positive impact on communities and the environment.

“Our core values of agility, collaboration, empathy, innovation, and trust (ACE-IT) help drive our purpose. Being recognised as a Champion of Good is a tremendous honour. As a long-term business, we are firmly committed to integrating our purpose into everything we do,” she said.

The report outlines the company’s progress across five sustainability pillars:

responsible investor
accelerator of net zero
innovator for green and good
sustainability-embedded culture
effective governance and risk management

In two years, Singlife has adopted international principles and best practices to enhance its sustainability journey. It became the first local insurer to sign the United Nations Principles for Sustainable Insurance within its first year. Additionally, it is the first Southeast Asian insurer to join the United Nations-supported Principles for Responsible Investment and is represented on the Sustainability Reporting Advisory Committee, which guides Singapore companies on adopting the International Sustainability Standards Board (ISSB) standards.

Singlife has also integrated ESG considerations into its investment decisions, significantly expanding its sustainable investment portfolio. As of December 2023, the company had invested over S$670 million and committed an additional S$610 million into sustainable assets. This includes co-investments in the largest equity exchange-traded fund (ETF) listed on the Singapore Exchange to support climate action.