Redefining the "S" in ESG with MCCY and Verian
At the Decoding X Conference 2024, Verian hosted a panel on Corporate Sustainability featuring Mr. Shaun Oon, Deputy Director (Strategic Planning) at the Ministry of Culture, Community and Youth (MCCY), and moderated by Ms. Sandra Lim, Regional President at Verian.
The discussion explored how Singapore can define and embed the social dimension of ESG — moving beyond volunteering toward people-centred workplaces built on trust, wellbeing, and growth.
About the Panel
MCCY and Verian collaborated on the landmark study Charting a Sustainable Future: Roadmap to Corporate Social Sustainability in Singapore, which sought to understand what Singaporeans expect from companies and how organisations can operationalise the “S” in ESG through culture, leadership, and capability-building.
Key Insights
1. The "S" needs localisation
Singapore performs strongly on environmental (E) and governance (G) measures, but less is understood about the “S.” MCCY’s goal was to define corporate good through local expectations rather than imported ESG templates.
“We didn’t want to reduce corporate good to volunteering. We wanted to know what Singaporeans really want from companies,” Shaun Oon explained.
2. Social sustainability starts at work
The study found that employees associate responsible business with flexibility, wellbeing, and opportunities for learning and growth. Singaporeans view human development — not philanthropy — as the cornerstone of corporate purpose.
“It’s not about shorter hours,” Shaun shared. “It’s about how work fits into life — caring for family and friends, having space to do more in our own community.”
3. Trust is the new social contract
Trust emerged as the critical enabler. Shaun described it as a mutual agreement between employer and employee — to invest in each other’s growth and honour commitments.
He highlighted MCCY’s own flexible arrangements for officers with caregiving responsibilities and cross-agency attachments as examples of institutional trust in action.
“Trust is a contract — an agreement that we’ll invest in your growth and give you flexibility, and we’ll keep that promise.”
4. Purpose and performance can align
Shaun cautioned against the notion that companies must “do good until it hurts.” Instead, aligning social outcomes with business strategy ensures sustainability and competitiveness.
“Doing good doesn’t mean doing it until it hurts. If companies don’t move, social pressures will move them.”
5. Future-readiness is social readiness
Corporate sustainability is also about staying relevant amid change. Workplaces that invest in upskilling and adaptability will better withstand future disruptions.
“Sustainability is about continual relevance — will what we’re doing today still make sense five or ten years from now?”
Takeaways for Leaders
Continue the Conversation
Explore the upcoming report Charting a Sustainable Future: Roadmap to Corporate Social Sustainability in Singapore or contact Verian to learn how the ABCDE Framework can support your organisation’s ESG journey.
This article draws from Verian’s and MCCY’s collaborative study and the Decoding X 2024 panel discussion on Corporate Sustainability.