1 Corporate Social Responsibility & The Role of Media in Corporate Governance.

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Presentation transcript:

1 Corporate Social Responsibility & The Role of Media in Corporate Governance

What is included in CSR 2 Charity (Philanthropy) Doing business responsibly Being a good citizen

Philanthropy 3 Financial donations to worthy causes Setting up socially needed bodies Running or supporting social bodies Supplementing state efforts towards social welfare

Doing business responsibly 4 Protecting stakeholders’ interests Employees  Equal opportunity  Human element Clients & Suppliers  Passing benefit of research  Not dealing in “bad” goods.

Being a good citizen 5 Obeying the law (including CCG) No direct or indirect tax evasion Concern for environment Doing general good for the society  U-fone’s medical line Supplementing government’s efforts towards good citizenship  Paying for various social campaigns

Concern for Environment 6 Eco-balance  Deforestation  Soil degradation  Atmospheric changes Pollution  Waste/Discharges management Depletion of resources  Emphasis on creating re-usable resources

Strategies for Prevention of Industrial Pollution 7 Environmental processes’ audit  Waste management audit  Material usage review  Non-solid effluents audit Financial considerations  Cost benefit analysis of being eco-balanced  Use of new cleaner technology  Life cycle assessments Spreading awareness among users

Environmental Risk Management 8 Elements of environmental risks  Definition of an environmental disaster  Probability of its occurrence  Cost of handling it when it occurs  Allocation of responsibility Means of handling the risk  Prevention  Insurance

Resource Management 9 Energy resources (fossil fuels vs. others) Re-cycling of materials  Using re-cycled material  Using bio-degradable material Conservation of life supporting systems  Forests, tree, water sources  Wild life

Laws relating to EP 10 EP Act What else? Self-regulation

Some Big Environmental Disasters 11 Chernobyl Nuclear Disaster (1986)  Nuclear reactors went berserk Exxon Valdez (1989) in Alaska  11.5 million barrels of crude spilled Tokiamora Accident (1999)  Nuclear radiation leaked Bhopal Tragedy (1984)  Leakage of poisonous gas, killing 300 and affecting 400,000 persons

Role of Media 12 Reporting on facts Commentary Awareness Campaigns Advertisement

Objectives of Media Intervention 13 To stop the “bad” corporate practices. To encourage the “good” corporate behavior.

Reporting on Facts and Commentaries 14 Corporate reporting is gaining popularity.  It is coming out of the domain of specialized journals into daily newspapers. It has impact on all stakeholders; so companies care.  Shareholders activism  Consumer activism Factual reporting and commentaries can serve as “carrot and stick” mode of motivation for companies.

Awareness Campaigns 15 Media has greater reach; hence is more effective.  Polythene bags issue  Harmful effluents disposal Companies can help media in campaigns for social good. Awards Political campaigns

Advertisement 16 Media can insist on honest advertising  Printing disclaimers is not enough Advertisements are also a way of buying media’s support (or silence)

Ethics in Media 17 Must maintain editorial independence. Refuse dishonest advertisement. Avoid sensationalism  All reports should be substantiated Media also needs CSR standards Morals in advertising