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Luke Phang
Luke Phang Verified Account
Advocate for Ethical Businesses
Luke writes about ethical businesses, corporate leadership, social issues, and sustainability.
Governance Investment Stewardship Steward Leadership

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Luke writes about ethical businesses, corporate leadership, social issues, and sustainability. He previously worked as a Digital Strategy and Communications team manager at Stewardship Asia Centre. The views expressed in his articles represent his personal opinions and do not reflect those of any professional organisation he is affiliated with.

Redefining sustainability in business with Esther An
Redefining sustainability in business with Esther An
One of the most pressing issues of our time, the topic of Environmental, Social, and Corporate Governance (ESG), sits at the intersection of stewardship and steward leadership. Today, businesses are being challenged not just to turn a profit, but also to fulfill a broader societal purpose. The interconnectedness of our planet, people, economy, and businesses is undeniable, solidifying the case for ESG and stewardship integration into all facets of business operations. At the forefront of this movement, City Developments Limited's (CDL) Chief Sustainability Officer, Esther An, shares invaluable insights in a video snippet taken during the 2022 Stewardship Commons, on the ESG pillars that guide the work of CDL. The first pillar of CDL's ESG strategy, as outlined by An, is integration. This reflects steward leadership by embedding ESG principles into the corporate structure from the ground up. Steward leaders act as custodians of the business, ensuring sustainability is not just an afterthought, but a guiding principle that permeates all levels of the organisation.The second pillar, innovation, emphasizes the importance of adaptive leadership in the face of a growing climate emergency. Steward leaders are called upon to go beyond mere risk mitigation; they must foster an environment of innovation, seeking out sustainable technologies and solutions that mitigate environmental impacts.Investment, the third pillar, underscores the role of businesses as stewards of resources. It involves investing not just in technology and solutions, but also in the community. By directing resources towards societal development, businesses can play a pivotal role in driving sustainable changes.The final pillar, impact, is at the heart of steward leadership. It emphasises accountability and responsibility, requiring businesses to be mindful of their impact on society and the environment. Steward leaders understand that their role goes beyond satisfying investors and financiers; they are also accountable to a wider range of stakeholders.The video crystallises the essence of steward leadership in the context of ESG principles. It's a rallying call for businesses to step up, adopt a stewardship mindset, and champion sustainable practices. This video is a must-watch for businesses, executives, and anyone interested in understanding the integral relationship between ESG principles, stewardship, and steward leadership.
0 Comments   25 May 2023
Stewardship as a principle and a practice with Jaime Alfonso Zobel de Ayala
Stewardship as a principle and a practice with Jaime Alfonso Zobel de Ayala
 Stewardship is integral in a corporation that wishes to pursue shared prosperity for all stakeholders, according to Jaime Alfonso Zobel de Ayala, a next-generation leader in the Ayala Corporation, Philippines. He shared this insight with Stewardship Asia Centre (SAC) in an interview conducted during the Steward Leadership Summit 2022, as part of our engagements with business leaders.In the interview, Mr Ayala discussed the purpose of the corporation, which is to deploy resources towards solving important challenges in the national economy, in addition to striving to be an innovative and enduring Philippine-based business group, with a vision for shared value and prosperity for all stakeholders. He emphasised the importance of accountability and generating trust with stakeholders by delivering on the vision.Mr Ayala also discussed the role of businesses in safeguarding society today, stating that collaboration with like-minded institutions is key to solving complex challenges such as climate change, income inequality, and accessibility to healthcare. He noted that a company can serve as a model for generating value over the long term by taking into account the interests of all stakeholders. The interview also touched on the importance of stewardship and long-term value creation in business decision-making. Mr Ayala shared his perspective on how to prioritise and address the interests of all stakeholders and confront larger problems by breaking them down into smaller, more manageable ones.The conversation with Jaime Alfonso Zobel de Ayala highlighted the importance of steward leadership and doing good as a business from the perspective of an enduring Philippines-based family business. Watch the full video to hear from Mr Ayala and head over to our YouTube channel to watch more of our conversations with business leaders.
0 Comments   20 April 2023
Frank E. Mars on the importance of mutuality in decision-making
Frank E. Mars on the importance of mutuality in decision-making
Frank E. Mars (Board Chair & Advisor, Strategic Programs, Mars, Incorporated) discussed the concept of mutuality in a fireside chat with our CEO Rajeev Peshawaria, during a Stewardship Conversation we held at the Singapore Management University. In this clip, Mr Mars emphasized that mutuality means thinking beyond oneself and putting oneself in other people's shoes. He believes that mutuality is key to successful decision-making, and that thinking about the needs of all stakeholders is essential for long-term business success. What the clip to hear his insights and head to our YouTube channel for more conversations with business leaders.
0 Comments   20 April 2023
Bridging Thailand's wealth inequality with Thisana Thitisakdiskul
Bridging Thailand's wealth inequality with Thisana Thitisakdiskul
The issue of inequality and the wealth gap is a pressing national problem in Thailand, with household debt reaching almost 90% of the GDP, according to Thisana Thitisakdiskul, CEO and co-founder of Noburo. To combat this problem, the social enterprise aims to provide financial literacy and access to microcredit to the low-income working population.In an interview with Stewardship Asia Centre (SAC) during the Steward Leadership Summit in 2022, Thisana shares her journey of establishing Noburo and overcoming common stereotypes about low-income workers and debt. She emphasises the importance of being true to one's values and mission, and the power of conveying that passion to the team and society.Despite the challenges of scaling the business and balancing purpose and profit, Thisana remains committed to elevating financial literacy and promoting healthy wealth habits among the Thais. Noburo aims to become one of the leading social FinTech companies in Southeast Asia, expanding to countries such as Indonesia, Malaysia, Vietnam, and Cambodia.Watch the full video to learn more about Thisana's journey and the impact Noburo is making in Thailand. Visit our YouTube channel for more conversations with business leaders on steward leadership and doing good as a business.
0 Comments   19 April 2023
Erika Cheung on ethical safeguards and speaking up
Erika Cheung on ethical safeguards and speaking up
Erika Cheung, the executive director of ethics and entrepreneurship at a non-profit organization based in the US, was a key whistleblower in the Theranos scandal. In this interview with Luke, she shares her insights on ethical issues in businesses and the safeguards that can be put in place to address them. She also highlights the importance of having a speak-up culture and strong ethical values to protect stakeholders in the organisation.Cheung believes that having a mechanism for employees to speak up and be heard is crucial to ensure the longevity of the company. This means having a proper investigation and taking corrective action to address the issue. She notes that having a correct culture is necessary for this mechanism to work, where organisations need to value honesty and make sure that employees feel comfortable coming forward with any issues.To build a strong ethical culture, Cheung emphasizes the importance of having clear values and sticking to them in the course of doing business. This culture can dictate the processes, policies, and procedures within a business, so being conscious of the culture as the company grows is key to developing well-rounded programs that protect stakeholders. Cheung also provides advice on what business leaders and employees can do when they realize that something is wrong. She recommends collecting evidence, identifying allies, and taking the case to an ombudsman, third-party agency, or whistleblowing hotline. Watch the full video to hear Erika's insights. You can also watch more interviews with business leaders on our YouTube channel.
0 Comments   19 April 2023
How Faber-Castell approaches stewardship with Yandramin Halim
How Faber-Castell approaches stewardship with Yandramin Halim
 Faber-Castell has been in the business of manufacturing pencils and other writing instruments for over 260 years. In an interview with Yandramin Halim, Managing Director at Faber-Castell International, during the Steward Leadership Summit 2022, he talks about the company's commitment to stewardship in a multi-generational business. The interview, led by our Vice President, Ang Bee Lin, touched on how the company manages to embed stewardship purpose across geographical locations and the challenges of balancing profit and purpose.The company's commitment to stewardship involves identifying the DNA that makes the company survive and thrive. These values are institutionalised throughout the company, and it is required that every employee embraces these values, to ensure the company's sustainability for future generations.Like others, Faber-Castell too faces challenges such as the higher costs associated with environmentally friendly practices, but the company's vision is to enlist the creative potential in finding solutions. The company also communicates its values and purpose to trade partners, consumers and society at large. The company's commitment to stewardship has also led to an innovative journey, such as promoting the benefits of art-making activities for mental health, including for the senior population.The company's commitment to employee benefits goes back to the 1800s in Germany, where the company ratified an agreement to ensure all subsidiaries worldwide comply with the working recommendations and terms of employment by international labor organisations. Although there have been challenges in implementing this agreement in some countries, the company remains committed to the cause.Finally, the interview touched on the challenges that the company may face as digital technology advances. Still, the company believes that their products, such as pencils, will continue to be relevant as people seek organic ways to maintain their mental health and well-being.To watch other conversations with business leaders, visit our YouTube channel.
0 Comments   19 April 2023
Six ways of effective steward leadership
Six ways of effective steward leadership
Steward leadership is good for profit, planet and people. How can companies or business leaders achieve effective steward leadership in their organisations? I spoke to several prominent figures on their perspective on cultivating effective steward leadership. Hear from Shai Ganu (WTW), Tan Sri Dr Rebecca Sta Maria (APEC Secretariat), Dennis Tan (Prudential Singapore), Professor Narayan Pant (INSEAD), Munib Madni (Panarchy Partners), Richard Quest (CNN Business) and Rajeev Peshawaria (Stewardship Asia Centre) on the crucial ingredients to do well by doing good. What does doing well by doing good mean to you?
0 Comments   08 February 2023
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