Sun Life Singapore announced on 5 September the launch of its “Life is Brighter” charity fund.
The fund’s goal is to provide sustainability by leveraging the insurer’s range of social and community causes. It also aims to “create resiliency and a brighter tomorrow,” the insurer said in its press release.
Sun Life Singapore will collaborate with Community Chest to allocate donations from the fund towards charity programmes. Donations will also be channelled towards health and wellness initiatives in the country, mainly those focused on mental well-being and on the prevention of, and support for, those with diabetes.
At present, the insurer revealed that it is planning to collaborate with KK Women’s and Children’s Hospital, as well as Limitless, on its Lighthouse initiative intended for at-risk youths with mental health issues.
Sun Life Singapore added that the fund also aims to cover environmental, social, and governance (“ESG”) areas over time.
By the end of the year, Sun Life Singapore projects that the fund will raise around SG$800K (US$614K) in donations to the Community Chest fund. This would exceed their initial pledge of SG$520K by 2026.
According to the press release, the creation of the fund will allow the insurer to combine donations from its Philanthropic Pledge—which was established to advocate “philanthropy and aims to inspire others to give back to the community”—along with other donations and money from fundraising efforts, to “be managed centrally and channelled to selected causes”.
Commenting on the launch, Sun Life Singapore CEO Christopher Albrecht said: “This fund is an important milestone that underscores our ESG framework. We are committed to being a purpose-driven and sustainable organisation; one that cares for our clients’ lifetime financial security and in leading healthier lives, and also one that cares for our community and the future of our planet.”
Community Chest Chairman Chew Sutat added, “This multi-year collaboration and social impact strategy is a good example of how companies can make sustainable philanthropy more meaningful for business and employees, while uplifting lives in our community.”
