PwC Singapore establishes foundation to address socio-technological impact

29 April 2019 3 min. read
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PwC in Singapore has established a new charitable foundation aimed at addressing contemporary issues associated with an aging population and developed economies.

The Singaporean firm of global professional services leader PwC has launched The PwC Singapore Foundation, a charitable organisation with a focus on the elderly, disabled and education which has been established to help address issues associated with an aging population and developed economies – such as the social impact from the rapid advance and adoption of modern technologies.

“Technological change has brought about challenges for those who don’t have the means to keep up, increasing the pressure for society to support those left behind,” said PwC Singapore Executive Chairman Yeoh Oon Jin. “We have always placed great importance on giving back to the community through our corporate responsibility programmes and the launch of the PwC Singapore Foundation marks the next step in our corporate responsibility journey.”

Designed to increase the firm’s social impact and reach, The PwC Singapore Foundation aims to strategically foster sustainable and impactful giving by establishing long-term relationships with its non-profit partners and increasing awareness of its community projects among employees and clients. In addition to PwC’s existing community volunteering programmes, the Foundation will supplement efforts by providing financial support to beneficiaries.

“The Foundation provides us with a more efficient channel for our corporate giving and amplifies our current reach and social impact,” says PwC Singapore’s Corporate Responsibility Leader and partner Charlotte Hsu, “Through assessing the needs of the various charities and programmes, we will better understand their needs and support them in the way they need it most.”PwC Singapore establishes foundation to address socio-technological impactWith a focus on education and the elderly and disabled communities – and in the context of wide-ranging socio-economic changes – the Foundation points to the issue of an aging local population (which is closely linked to the disability agenda as to proportional representation), with the proportion of residents in the 65-plus bracket having risen by five points to 13.7 percent in the last decade, and their number expected to double to over 900,000 during the next.

“The Singapore Foundation has committed to support the elderly by funding causes that help ensure all citizens can age healthily, purposefully and gracefully, in our community,” states the firm, with the Foundation further seeking to support the building of an inclusive society by welcoming differently abled talents. Meanwhile, the Foundation is also committed to investing in education and skills building.

“Education is the key to build a smart and future-ready nation,” PwC declares. “While Singapore is widely recognised as a country with high literacy rates and a skilled talent pool, in this age where jobs are changing – driven by the impact of breakthrough technologies ranging from artificial intelligence and robotics to augmented reality and blockchain – what and how we learn needs to transform.”

According to the Foundation, it will leverage PwC’s expertise and knowledge to aid educational development and mentoring in areas as wide-ranging as financial literacy and digital skills, with the Foundation set to couple with PwC Singapore’s existing skills-based volunteering programme where partners and employees can share their expertise to provide free training to staff within charities.

“Our community engagement efforts are focused on strengthening the capabilities of non-government organisations, supporting social enterprises and developing skills,” concludes Hsu, who has been at the firm for nearly 25 years. “By leveraging both financial giving and volunteering, our corporate responsibility efforts can create lasting and meaningful change within our community.”