Committee of Supply 2023 debate, Day 7: Yeo Wan Ling on corporate sector as a force for good

The corporate sector is a critical force for good; it can uplift the communities it operates in, protect employee well-being, promote ethical supply partnerships and ensure environmental sustainability, said MP Yeo Wan Ling in Parliament on Monday (Mar 6). She asked for an update on the Alliance for Action on Corporate Purpose, which is meant to rally business leaders and firms to combine their resources to serve community needs. She also wanted to know the Ministry of Culture, Community and Youth’s plans to encourage the growth of purpose-driven business entities. Ms Yeo also spoke about the Business and IPC Partnership Scheme (BIPS). It was introduced in 2016 to encourage employee volunteerism and foster a culture where businesses and staff support social needs. Ms Yeo noted that a majority of business owners she had spoken to were unfamiliar with the programme, while those who knew about it were put off by the tedious application process. She asked for an update on the take-up rate and how the programme can be better promoted.