Genashtim 2022

HIGHLIGHTS

Our financial performance continues to improve significantly. This looks set to continue especially with several new initiatives. We do hope that this further amplifies to the world that Business as a FORCE for Good is Good for Business. We will continue to distribute one-third of our profits to employees and set aside 10% for charitable initiatives. We have also expanded support and benefits for our employees, including life insurance, college scholarships for their children, and funding personal solar installations for their homes. The latter will move us further into carbon-negative territory. We have also enhanced mental health benefits by hiring two additional professional counsellors for our employees.

At the Steward Leadership Summit officiated by Singapore’s Minister for Education Chan Chun Sing on 30 November at the Shangri-La Singapore, the Chairman of Temasek Holdings Lim Boon Heng unveiled the inaugural list of Steward Leadership 25 (SL25). This is a listing of the 25 best stories of steward leadership excellence within Asia-Pacific. Genashtim stood beside some giants in the industry on this list which was put together by the Stewardship Asia Centre, INSEAD, WTW, and The Straits Times.

Furthermore, our Founder and CEO was invited to the Stewards Council for B for Good Leaders, a global network of 30,000 entrepreneurial leaders.

BUSINESS

Since starting with 24 Independent Verification Analysts for B Lab Global in September 2021, we have had to increase capacity three times. Currently, we have 45 people working on this, and another 25 are undergoing training. As we reached the first anniversary of this, we were told by B Lab Global that we had exceeded their expectations.

During the course of the year, we have started discussions with various national and regional organizations to do something similar for them.

Our traditional eLearning business, in particular our eCornell program, continues to grow exponentially. New clients include additional governmental institutions in the Philippines, Singapore, and Indonesia, and Traveloka, an Indonesian unicorn.

We have also been approached by some very large multinational companies for collaboration, and we hope that 2023 will see these deliberations bearing fruit.

We will be launching our ESG Business Institute at the beginning of 2023 as the global accreditation body for ESG professionals.

IMPACT

In 2021, Genashtim allocated US$ 100,000 for philanthropic initiatives, and will at least match this amount for 2022. After working with some of the refugee learning centers in Indonesia for some years, we have decided to fully fund two of them in 2023.

Through DG-Bridge, we have continued to support 11 families in Afghanistan who do not have any male adults. Of the 68 beneficiaries, 49 are women or girls. We have funded them with sewing machines and lessons in the hope that they will be able to support themselves.

RECOGNITION

Genashtim continues to receive multiple international awards and recognition, details of which are on the news page of our website. We again made it to the ranks of Best-for-the-World among B Corps for seven consecutive years since we first got certified.

APPRECIATION

We continue to be grateful to our employees, our clients, and our principals for our continued success and growth in revenue. We will use this financial strength to deepen and broaden our social impact.

With the coming new Lunar Year, we associate ourselves with the positive attributes of the Rabbit, who is known to be elegant, alert, quick, skillful, kind, patient, and very responsible.