Press Release
February 1, 2011

Villar to hold hearing on Corporate Social Responsibility Act Wednesday

Sen. Manny Villar will hold a committee hearing on the bill that will institutionalize corporate social responsibility of all foreign and domestic corporations performing business in the country on Feb. 2. Senate Bill No. 1239 or the Corporate Social Responsibility Act authored by Villar seeks to mandate all business organizations to consider the interest of society by taking responsibility for the impact of their activities on customers, employees, shareholders, communities and the environment.

"The initiative of some business organizations operating in the country to care for the environment or provide help to the less fortunate sector of society should be encouraged. The evolving times tells us that social services should not be a monopoly of the government, especially because we don't have enough public funds to immediately solve the many problems affecting the country," Villar said.

The bill also seeks to provide incentives to business organizations embracing projects that give back to communities by supporting community development programs, environment protection initiatives, social welfare and assistance and the like. The incentive could be in the form of a full deduction from its gross income of all expenses incurred.

The Senate Committee on Trade and Commerce chaired by Villar will hold a hearing on the Corporate Social Responsibility Act on Wednesday, February 2, 1 pm at the Pecson Committee Room.

The resource persons invited are: Maria Joji Aragon, Assistant Assistant, Department of Labor and Employment (representing Sec. Rosalinda Baldoz); Victorio Mario A. Dimagiba, Director,Bureau of Trade Regulation and Consumer Protection ( representing DTI Sec. Gregory Domingo); Ramon J.P. Paje (CESO), Secretary, Department of Environment & Natural Resources; Kim Henares, Commissioner, Bureau of Internal Revenue; Atty. Virnette Umali-Paco, General Counsel, Securities and Exchange Commission (representing Chairperson Fe B. Barin); Manuel V. Pangilinan, Chairman Of The Board, Philippines Business For Social Progress; Amb. Francis Chua, President, Phil. Chamber Of Commerce And Industry; Haruhiko Kuroda, President, Asian Development Bank; Prof. Francis Roman, Executive Director, AIM Center for Corporate Responsibility; Atty. Rosa Guadalupe Angela Paraiso and Atty. Armi Jane Roa-Borje, Corporate affairs, Jollibee Foundation (representing Tony Tan Caktiong, Chairman); Teresa Pacis, AVP for Corporate Affairs, GMA KAPUSO Foundation, Inc. (representing Felipe L. Gozon, Chairman of the Board); Anthony Pangilinan, Executive Vice President PLDT Foundation; Jaime Zobel de Ayala, Chairman of the Board and Executive Committee, Ayala Foundation; Robieson Mateo, Executive Assistant to the President, Binalot Fiesta Food Inc. (representing Rommel T. Juan, President/Owner).

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