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Primary and secondary research have been undertaken in the development of the Framework and Metrics. These include identifying critical and emerging needs vis-a-vis existing resources and efforts, resulting in areas being identified as opportunities where businesses can make most impact.
Reference to ESG disclosure standards was made to identify common principles in designing the Framework. In addition, impact databases were screened to identify locally relevant metrics.
Extensive stakeholder engagement was conducted with over 100 stakeholders, including local corporations, foundations, family offices, social service agencies, small and medium enterprises (SMEs), multinational corporations (MNCs), social enterprises, and public agencies. The engagements aimed to understand businesses’ aspirations towards corporate philanthropy, their potential contributions, challenges faced, and best practices.
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