Social Europe Inspiring Change – Sowing the Seeds of Success Private sector as a vehicle for social change By Terhi Karvinen EU Delegation in Trinidad and Tobago Women’s Executive Networking Seminar Port of Spain, 20 March 2014 Hyatt Regency

Social Europe TERTIARY EDUCATION €27M INNOVATION €8M NATIONAL SUGAR ADAPTATION STRATEGY €75M HIV/AIDS €3.5M ENVIRONMENT €8M ENABLING BUSINESS ENVIRONMENT €16M NON STATE ACTORS €2M POVERTY REDUCTION €3.8M EU cooperation in T&T

Social Europe Shifting roles in society Changing role and demands of public sector on one hand Increasing pressures towards the private sector on the other Changing landscape of development community

Social Europe The responsibility of enterprises for their impact on society Respect for legislation, collective agreements, new legislation not excluded Maximise shared value Identify/prevent/mitigate adverse impacts Definition of CSR

Social Europe CSR as Multi-dimensional Human rights Labour and employment (training, diversity, gender equality, health and wellbeing) Environment (biodiversity, climate change, resource efficiency, life cycle assessment, pollution prevention) Bribery and corruption Consumer interests and privacy Volunteering Tax governance

Social Europe Why CSR? 1.Increased innovation capacity 2.Build positive government and NGO relations 3.Help identify industry priorities 4.Build industry/country/company/organisation reputation and brand 5.Enhance employee recruitment and retention 6.Trust 7.Risk management 8.Competitiveness 9.Cost savings 10.Access to capital

Social Europe Levels of engagement with the society Focus on business operations Philanthropy Public policy dialogue, advocacy, institution building

Social Europe Drivers of CSR in T&T (2012 CSR report) Philanthropy Brand, Trustworthiness and reputation Employee pressure Government action Consumer pressure Competitiveness Supply chain Strategic plan

Social Europe Path to deeper CSR involvement Balanced multi-stakeholder approach Market reward Self and co-regulation (ISO26000 and ISO14001) Reporting and accountability CSR policy for T&T

Social Europe CountryOverallEconomic partici- pation and opportunity Educational attainment Health and survival Political empower- ment Iceland Barbados T&T Slovenia France Italy The WEF global Gender Gap Report 2013 Women and CSR

Social Europe Thank you