Corporate Social Responsibility

Article excerpt

THANKS to former Finance Secretaries Jess Estanislao and Ramon del Rosario Jr., CSR or corporate social responsibility has now become a buzz word in current industry circles. More and more business corporations are allotting a share of their annual budgets to support projects that are of priority concerns to national development or the communities where they operate. Among the projects include infrastructure support to social development projects, human resources development, and improving access to social services, culture, and the arts.

Many of these corporations (local and multinational) are taking their corporate social responsibility seriously, In fact, many of them had institutionalized these programs through the establishment of foundations. Among them are Metrobank which is active in promoting excellence in education, culture, and the arts through regular awards and exhibits; PLDT through support of development organizations such as the Philippine Business for Social Progress; the Bank of the Philippine Islands, RCBC Banking Corporation, Citibank, the Hong Kong Bank which is involved in the Gawad Kalinga program in providing low-cost homes; media networks like GMA and ABS-CBN which are involved in poverty alleviation and environment; Phinma, Meralco, and MFI (education a" tertiary and vocational/technical, agricultural/aquaculture innovations including renewable energy.

There are many others, too numerous to mention, which are sharing resources and expertise to uplift quality of life in both the urban and rural sectors of our society. To this list, we add the Toyota Motor Philippine Corporation (TMPC) which has regularly presented its Toyota Classics, now in its 16th year. We thank its president, Mr. Katrsuaki Watanabe, Dr. David Go, president of the Toyota Philippines Foundation, and its chairman, Mr. George S.K. Ty, who made it possible for us to enjoy some of the worldas best-loved orchestras and renowned musicians. …