CSR in ASEAN countries
One of the most successful examples is the Philippine Business for Social Progress (PBSP). It is an organization formed in 1970 by 50 business leaders, contributing 1% of their net income before tax in a pool of funds that finance poverty reduction activities. Today, it has 267 member-companies continuing to contribute to the fight against poverty in the Philippines. It is also in the forefront of the campaign to promote CSR in the Philippines. It was effective in advocating for companies to share and help in social development programs.
Thailand companies formed the Thai CSR Network of companies doing various social development activities. Being predominantly Buddhists, CSR for companies in Thailand is considered part of merit-making activities, mobilizing people to participate and generating resources to support social development activities. In Singapore, the Singapore Compact for CSR was formally launched in 2005 which was later renamed Global Compact Network. The group has more than 500 members today promoting CSR not only in Singapore but the ASEAN region as well.