Frasers Property Thailand partners with Social Value Thailand to promote SROI, advocating for social impact assessments and sustainable contributions in the country’s business sector
BANGKOK, 24 APRIL 2024
Frasers Property (Thailand) Public Company Limited (“FPT”), Thailand’s first integrated real estate platform, is paving the way for Thailand’s private sector to enhance operational standards and create sustainable societal value. Its two flagship projects, “C asean Samyan CO-OP” and “Giving Blood, Saving Lives,” serve as models for socially impactful operations by leveraging Social Return on Investment (SROI) evaluation criteria to quantify their effectiveness. Through these efforts, FPT aims to set new benchmarks in Thailand for corporate responsibility while supporting efficient and impactful business practices.
Mr. Sarit Triroj, Executive Vice President, Corporate Communication and Branding, Frasers Property (Thailand) Public Company Limited, said, “The company is committed to leveraging its strengths and expertise to develop projects that benefit society, highlighting the Social Return on Investment, or SROI, as this helps enhance societal value. FPT is recognised as a leader in the country’s private sector for its comprehensive assessment of the deep impacts of its social endeavours. With C-asean Samyan CO-OP, a knowledge-sharing platform accessible to all, undergoing an SROI assessment, the results showed that every baht invested yielded a social return of 3.5 baht. Similarly, the recent ‘Giving Blood, Saving Lives’ project demonstrated a social return of 4.5 baht for every baht invested, equating to a 4.5-fold social return on investment.”
The “Giving Blood, Saving Lives” project is a blood donation initiative held at Samyan Mitrtown and aims to contribute to the National Blood Centre of the Thai Red Cross Society. This ongoing effort has been active since 2020, assisting in blood procurement amidst the COVID-19 pandemic and guaranteeing a sufficient blood supply for patients across the country.
“The company successfully mobilised blood donations to the Thai Red Cross Society, totalling 5,543,350 cc. This achievement was made possible through an efficient system that included advance online registration and SMS reminders to previous donors. On the day of the event, company volunteers screened and guided potential donors, resulting in a lower likelihood of individuals being unable to donate blood and an overall increase in donated blood volume to the Thai Red Cross Society,” added Mr. Sarit.
With respect to SROI, the “Giving Blood, Saving Lives” project achieved the following:
- Blood donors received guidance on healthcare, leading to early disease detection and a reduction in long-term healthcare expenses.
- Volunteers developed a sense of pride in their lives and work, enhanced diverse skills such as communication, event management, and teamwork, and expanded their social connections and networks.
- Local businesses or surrounding communities noticed an uptick in sales attributed to increased foot traffic and spending in the area, along with the satisfaction gained from participating in blood donation efforts.
- The National Blood Centre observed a rise in blood supply, resulting in cost savings that would otherwise be spent on sourcing and acquiring blood independently.
- Frasers Property Thailand helped promote goodwill among employees and amplified brand recognition.
Moreover, these initiatives align with and contribute to the UN Sustainable Development Goals (SDGs), specifically ‘Goal 3: Good Health and Well-being,’ by improving access to blood, which plays a vital role in enhancing overall quality of life. Additionally, they support Goal 17: Partnerships for the Goals, by encouraging collaboration among businesses, health organisations, social enterprises, and the government to encourage voluntary blood donations from the public.
Ms. Sakulthip Keeratiphantawong, Secretary General at Social Value Thailand Association, shared, “Conducting SROI assessments sheds light on the multifaceted impacts affecting all stakeholders involved. This tool provides a clearer understanding of operations, enabling transparent and tangible communication about impact issues. The results obtained can be utilised as valuable data for planning and enhancing ongoing projects to make them more effective. Additionally, they serve as a roadmap for developing new projects aimed at addressing societal challenges and generating value for communities.
“The ‘Giving Blood, Saving Lives’ project by Frasers Property Thailand is a proactive blood donation campaign with efficient management practices. It promotes community engagement and inspires volunteer employees to participate in social care. These factors add value to the routine activity of blood donations, showcasing the excellence of operations capable of generating social returns for all stakeholders. This can serve as a model for other organisations to build upon or expand further,” concluded Ms. Sakulthip.
