Social Reserves refer to the intangible ties that bind a country together. As a resource, they may be compared to a country's financial reserves.[1] The term bears some similarity to the Bhutanese concept of Gross national happiness in that it attempts to value quality of life in a way that goes beyond traditional economic indicators.[2]
The term was coined in November 2013 by Singapore President Dr Tony Tan at an event organised by St. Joseph's Institution, Singapore. Speaking in a lecture series on leadership, President Tan said:
Singapore maintains large financial reserves, primarily through two sovereign wealth funds. The Government of Singapore Investment Corporation (GIC) manages Singapore's foreign reserves; Temasek Holdings is an investment company owned by the Government of Singapore. Prior to running for Singapore's elected presidency, President Tony Tan was executive director of GIC.[4]
An example of an effort to build up social reserves, he said, was the way that he had expanded Singapore's President's Challenge charity event to go beyond fund-raising to promote volunteerism and social entrepreneurship.[5]