Transcript: Remarks by Lim Boon Heng at Temasek Chinese New Year Luncheon
Colleagues, Partners and Friends1,
Good afternoon.
On behalf of the Board and Management of Temasek, welcome, and thank you for making time to join our annual Chinese New Year Lo Hei and luncheon.
It is always a pleasure to see everyone gathered so joyously, in celebration and anticipation of the New Year ahead. I hope it brings you good fortune, and that you, in turn, bring good fortune to your shareholders!
Reflecting on 2017, we see innovation and disruption all around us. What does it mean, then, to build an enduring institution: one that sustains beyond current generations? Today, the ability to think and plan ‘long term’ is tested constantly, as we deal with the rapid pace of change around us.
Sustainability is really about doing things today with tomorrow in mind - from governance, ethics to business practices, to engaging our community and protecting our environment.
Governance and ethics
Our companies are expanding, both and home and abroad. Management teams face complex regulatory and operating environments. There is more attention on what you do, and how you do it, now than ever before.
We all must recognise the balance between being nimble, adaptable and competitive, while not straying from core principles and values that have guided and established us as a Group. These principles are hallmarks of what Singapore means to the world.
There is no room to stray from those core values. Your shareholders – us included – are very clear on this point. And we see it as the role of all boards to uphold these principles.
We must all advocate sound governance principles. We must build and enforce sustainable business practices, to preserve and grow the long-term value of our companies. Doing the right thing always, is critical to building sustainable businesses.
Stewardship
For those of you who were here last year, you might remember Robin introduced the new Sustainability & Stewardship Group within Temasek.
A focus area for us is to build upon Temasek’s role as a trusted steward for the community. Partnering with Temasek Foundation Cares and the Ministry of Health, we will soon embark on a meaningful initiative for the elderly.
The project aims to provide one-stop, neighbourhood-based, functional screening for seniors aged 60 and up. It will cover eyesight, hearing and oral health, and also to help defray the costs of functional aids in these areas, such as glasses, hearing aids and dentures. We aim to launch this initiative in September.
Temasek is contributing to this cause through a new Health and Wellness endowment – our 19th endowment to date. We know that corporate support can also make an impact.
Our elderly are more vulnerable to conditions which will impact the quality of their lives, yet many of these conditions are preventable, or treatable, with effective community based screening.
I would like to encourage you to join us in supporting this meaningful cause. Robin and his team will follow up with your teams to share more.
Ecosperity
Last year I shared with you the US$12 trillion worth of potential business opportunities available by addressing the Sustainable Development Goals.
This year we will continue the discussion at our annual Ecosperity conference, on 5th June; again coinciding with World Environment Day.
The theme will focus on new opportunities in the areas of food, education and healthcare as we build a resilient society.
To translate ideas into impact around Ecosperity, we will partner a global initiative called UNLEASH.
UNLEASH will bring 1,000 young leaders from around the world here to develop solutions to the Sustainable Development Goals. We hope some of those solutions will offer business opportunities to our portfolio companies, so please get involved where you can!
Our Communities
Businesses and corporates exist within communities. We should never take this relationship for granted, and all of us need to remain deeply engaged with our communities.
Alongside us, the leadership of our portfolio companies has been actively engaging unions across different industries. In the past year, we organised 6 tripartite engagement events, reaching out to about 150 union leaders across sectors.
We will continue these engagement activities this year, and we thank you for your continued support of this programme.
Finally, as I stand between you and lunch – let me share with you some exciting work in the area of food sustainability.
Today’s lunch menu includes a variety of “sustainably farmed” seafood, supplied by Apollo Aquaculture and Temasek Life Sciences Laboratory.
The eventful 2017 has given us many reasons to spur us to action in 2018. In this year of the Dog, may we all mirror its traits of responsibility, persistence and courage. I trust that each of us will bring the best to our organisations to persevere and succeed in the changing landscape, while especially staying true to our core values and principles.
Thank you and enjoy!
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