Petronas launched a new foundation to streamline its corporate social responsibility (CSR) activities for greater transparency and governance.
Called Yayasan Petronas (YP), the launch of the foundation was officiated by Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail, and is meant to deliver broader and deeper impact of its CSR activities across communities nationwide.
Its chairman Datuk Ahmad Nizam Salleh said prior to the launch, Petronas? CSR activities throughout its 45-year history were compartmentalised.
?We felt YP will also be able to improve management of the CSR programmes,? he said during the launch at the Kuala Lumpur City Centre (KLCC).
YP will focus primarily on education, community wellbeing and development, and the environment.
?For example, the Sentuhan Ilmu programmes are meant to increase opportunities for underprivileged students via Science, Technology, Engineering and Mathematics education.
?Whereas the Sentuhan Kasih and Sentuhan Harapan programmes are aimed at improving living standards for less privileged communities and their youths, Sentuhan Alam focuses on caring for environmental biodiversity, conservation and carbon-neutral programmes,? Ahmad Nizam said.
Although he did not have the exact figures at hand, Ahmad Nizam said Petronas has spent up to RM3.6 billion on scholarships alone since 1974, on top of what they are doing now.
?Since Petronas was founded we have engaged in over 500 CSR programmes. We encourage volunteerism among our staff, where even retired Petronas personnel are involved,? he said.
Ahmad Nizam added YP is also operated on a very tight model of governance, so as to prevent any abuse of power from occurring.
?A stringent criteria is applied when selecting Yayasan trustees, who are professionals in their respective fields and have engaged in numerous CSR and philanthropic activities over the years.
?Based on our motto of ?Where Good Flourishes?, YP seeks to create spaces and pathways where we can nurture collaborations among corporations, institutions, organisations, communities, and governments, for the sake of the wider society,? he said.