Businesses urged to boost CSR and IB programs
The Board of Investments (BOI) has urged businesses in the Philippines to further expand their corporate social responsibility (CSR) programs to take advantage of government incentives. As well as scaling up CSR, enterprises are also asked to adopt inclusive business (IB) models, which enable firms to have a sustainable approach to helping communities by integrating them in their operations as local suppliers and business partners. By using an IB approach, Trade Undersecretary and BOI managing head Ceferino Rodolfo said entrepreneurs can help poor communities in a way that generates both business growth and creates social impact. Micro, small and medium-sized enterprises (which account for 99.57 percent of Philippine business establishments), have greater flexibility to adopt IB models, but large companies have the advantage of creating a wider impact when they use the IB model in their operations, according to the BOI.
