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Corporate Social EngagementIPB’s corporate vision is based on the proud history of our mutual ethos; this means that we see society as our ultimate stakeholders. In 2012 we embarked on a programme of corporate development. We were energised by the realisation that as a successful business we will be able to give back to our stakeholders and engage in making a real difference to society.
In 2012 IPB Insurance issued a dividend to society of €5 million. This was a unique departure in an Irish business context as we were the first company in the country’s history to issue a social dividend. The social dividend is funding our programme of Corporate Social Engagement (CSE). Our CSE programme is based on our philosophy that businesses need to be more than responsible, they need to be accountable. In order to distribute the social dividend in the most effective and impactful way possible we developed a CSE framework, the aim of which is to ensure the CSE programme is sustainable, stakeholder-led, ethical, makes a societal difference and has a national reach.
Through our programme of CSE we aspire to:
- Become a catalyst for change in how companies think and act in relation to their commitment to society.
- Establish IPB as an organisation that makes a real contribution to society based on commercial success.
- Make a significant contribution to Ireland’s Corporate Agenda for Social Responsibility.
- Creating opportunities for project sustainability.
- Make a real difference and impact in society.
IPB has chosen five distinct themes that will inform the types of projects that the CSE programme supports. The five themes are Diaspora, Sport, Education, Youth and Community and Business Innovation. Between now and 2015 we will be allocating funding to support activities and projects under these five themes on a phased basis, i.e. targeting one theme at a time.
The CSE framework and the delivery of funding are overseen by the CSE Steering Committee. The Steering Committee was set up in the second half of 2012 to provide guidance and leadership, to evaluate proposals and to ensure proper controls and procedures are in place. The Committee reports to the Board of IPB, who provide essential leadership and governance.
IPB will maintain a rigorous review and evaluation process and we may engage with stakeholders or third parties to assist as and when appropriate. All proposals will be evaluated against clear criteria set at the outset and this will be specific to each theme. However, generally all proposals will be asked to elaborate under the following key headings and to have a clear presentable plan ready for implementation:
- Business Case
CSE in action
DIASPORA - The IPB Gathering Ireland Fund 2013
IPB chose to include Diaspora as one of the key themes to be targeted by our CSE programme for a number of reasons. There are an estimated 70 million people globally who claim Irish heritage and at the moment this is one of Ireland’s greatest untapped resources. By fostering relationships with the diaspora, from the recent emigrants to the third generation Irish, we believe we can bring new momentum to the development of the global Irish network and deliver short-term economic and social benefits as well as longer-term rewards as relationships strengthen over time.
We were delighted to partner with The Gathering 2013 to launch the €2 million IPB Gathering Fund in October last year. IPB contributed €1 million, which was matched by an additional €1 million in funding by the Government, to establish the €2 million fund. This public-private partnership has enabled thousands more people to become actively involved in planning and taking part in the Gathering.
The IPB Gathering Fund was administered by the local authorities for flagship and community events within their own areas. Half of the fund is being used to support up to three flagship events and activities in every city and county, while the other half is being used to support a number of smaller local and community events. By the end of the year, the Fund will have supported over 1,300 individual Gathering Ireland events.
IPB has been a sustainable and successful business for many years. Our success has allowed us the opportunity to make a significant commitment in the area of corporate social engagement. We are optimistic about the future and ambitious about what we can achieve. Our aim is to make a difference in everything we do and to make a positive contribution to all our stakeholders. In 2012 IPB issued a social dividend of €5 million and established the CSE framework to distribute this fund over the five themes of Diaspora, Sport, Education, Youth and Community and Business Innovation.
€1 million of this fund was allocated under the theme of ‘Diaspora’ in support of the Gathering Ireland 2013 initiative. This was matched by equal funding from the government and distributed through the local authorities to support local Gathering events and projects around the country. As we roll out the other four themes, the groups who are eligible to apply will be contacted and the application process and criteria will be explained.
In the future, we may work with strategic partners, as was the case with the IPB Gathering Fund, or through collaboration with sector specific organisations.
A strategic partner is an organisation or government body who commits to providing funding and/or mobilising resources to support a joint vision. Their strategy and goals should be aligned with those of the IPB CSE framework.
Collaboration between IPB and sector specific organisations may take place if the organisations can provide ideas and strategies that fit under one of our key themes. We believe there are significant benefits from collaboration both for IPB and the organisation including:
- Assisting with the creative process.
- Providing insights and different areas of expertise.
- Increasing capacity to existing team.
- Assisting with reaching a wider/new audience.
- Providing an opportunity to contribute to their event or activity rather than invent something new.
What is the IPB CSE framework?
In 2012 IPB issued a dividend to society of €5 million. In order to distribute the social dividend in the most effective and impactful way possible we developed a Corporate Social Engagement (CSE) framework. This framework consists of a Steering Committee, which provides essential governance and leadership across each of the key themes of Diaspora, Sport, Education, Youth and Community and Business Innovation. Between now and 2015 we will be allocating funding to support activities and projects under these five themes on a phased basis. IPB will invite proposals at the appropriate time prior to the rolling out of initiatives. In the main we do not accept unsolicited proposals.
When did it start?
IPB launched the social dividend in 2012.
How much is the social dividend?
Our social dividend is €5 million and this will be used to support initiatives under our five key themes between 2012 and 2015.
Can anyone apply for funding?
In the main, IPB does not take unsolicited proposals and applications for funding will operate on an invitation basis only. Once you have received an invitation to apply for funding and considered the criteria associated with that initiative, you must register with our CSE website before you can submit your proposal. The on-line application process will be available when the next initiative is being launched.
Will there be another social dividend issued?
The Board of IPB will consider its position regarding a social dividend on an annual basis.
How is the fund divided?
IPB has chosen five distinct themes which will inform the types of projects that the CSE programme supports. The five themes are Diaspora, Sport, Education, Youth and Community and Business Innovation.
The Board of IPB will make appropriate decisions relating to the allocation of funds across each of these themes. The CSE Steering Committee, which provides essential governance on the management of the fund, reports to the Board of IPB.
How will proposals be appraised?
All proposals will be evaluated against clear criteria set at the outset and this will be specific to each theme. Generally all proposals will be asked to elaborate under the following key headings and to have a clear presentable plan ready for implementation:
- Business Case
Can I find out why my proposal was not successful?
Due to the volume of applications we are unable to give individual feedback.