Philippine Business for Social Progress (PBSP) is the largest corporate-led

social development Social development can refer to: * Psychosocial development * Social change * Social development theory * Social Development (journal) * Social emotional development * Social progress or social regress The word decadence, which at first meant ...

foundation Foundation may refer to: * Foundation (nonprofit), a type of charitable organization ** Foundation (United States law), a type of charitable organization in the U.S. ** Private foundation, a charitable organization that, while serving a good cause ...

in the

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

. Founded in 1970, PBSP was the first in

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...

to lead the promotion and practice of

corporate social responsibility Corporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethicall ...

(CSR). Comprising more than 260 businesses, PBSP operates nationwide programs in education, health, livelihood and the environment. PBSP had benefited 4.5 million

Filipinos Filipinos ( tl, Mga Pilipino) are the people who are citizens of or native to the Philippines. The majority of Filipinos today come from various Austronesian ethnolinguistic groups, all typically speaking either Filipino, English and/or othe ...

, and assisted 6,200 development projects through PHP 7 billion in grants and loans.

Legacy

Founded in 1970, PBSP was the first in Asia to advocate and practice

(CSR). PBSP was modeled after the

Venezuela Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in th ...

n Dividendo Voluntario para la Comunidad, where businesses allocate a certain percentage of their profits to development projects. PBSP's projects have delivered assistance to landless farmers, fishermen, rural workers, urban poor and indigenous cultural communities in the Philippines.

History

PBSP was established in 1970 when 50 Filipino businessmen set aside 1% of their companies’ net income before taxes for poverty reduction programs. PBSP first started implementing development projects in 15 provinces in the 1980s. The PBSP then developed in the 1990s a program to improve the harvests of rice farmers.{{Cite news, url=https://thedailyguardian.net/business/pbsp-celebrates-30-years-of-uplifting-lives-in-the-visayas/, title=PBSP celebrates 30 years of uplifting lives in the Visayas {{! The Daily Guardian, date=2018-10-17, work=The Daily Guardian, access-date=2018-10-30, language=en-US In the 2000s, PBSP implemented projects for health and education in

Mindanao Mindanao ( ) ( Jawi: مينداناو) is the second-largest island in the Philippines, after Luzon, and seventh-most populous island in the world. Located in the southern region of the archipelago, the island is part of an island group of ...

, that are in line with the

United Nations Millennium Development Goals The Millennium Development Goals (MDGs) were eight international development goals for the year 2015 that had been established following the Millennium Summit of the United Nations in 2000, following the adoption of the United Nations Millenniu ...

(MDGs).

External links

PBSP website

References

Business organizations based in the Philippines Non-profit organizations based in the Philippines