Sembcorp Industries has launched the Sembcorp Energy for Good Fund on September 21 with an initial injection of $1.5 million.
The fund was launched in conjunction with the start of the company’s annual Sembcorp Gives Back Week, a global employee-led volunteering initiative.
The fund will be used to provide relief to the social sector and migrant workers. This is done in a bid to ensure these support pillars of the community can continue to deliver essential services amid the Covid-19 pandemic.
In addition, Sembcorp says the fund will also show appreciation to essential workers in the energy, water, waste and environmental services.
Sembcorp has also partnered with The Community Foundation of Singapore (CFS) to use a portion of the fund to help smaller charities with limited reserves to defray their operating costs.
The fund will provide grants totalling $350,000 to 35 eligible charities including Daughters of Tomorrow and Aidha.
Each $10,000 grant will help to cover the charity’s utilities expenses for between six and 12 months on average, depending on usage.
Sembcorp and CFS have also provided mobile phone SIM card top ups to approximately 20,000 migrant workers, to help them stay connected with their loved ones back home.
Sembcorp will also be partnering the National Trades Union Congress (NTUC) disburse $500,000 to some 2,500 eligible union members who have continued serving the community amid the pandemic. They will each receive a one-time $200 token of appreciation in cash.
Separately, a month-long internal fundraising campaign in Singapore will also begin on September 21. The Sembcorp Energy for Good Fund will match staff donations dollar-for-dollar, with a total target of $100,000.
The full donation will go towards the CFS Sayang Sayang Fund, a fund driven by the community to support vulnerable groups adversely impacted by the Covid-19 pandemic.
“At Sembcorp, sustainability is our business. As we deliver essential services, we also want to do good for our people and communities. The Sembcorp Energy for Good Fund builds on this commitment,” says Wong Kim Yin, Sembcorp’s group president and CEO.
“The fund will support smaller charities with their utilities expenses, to help defray their operating costs. We also want to show our appreciation to workers who have helped keep our nation running smoothly. My sincere thanks to our partners CFS and NTUC for their support in this effort,” Wong adds.
Shares in Sembcorp closed 2 cents higher, or 1.5% up, at $1.33 on September 18.
