The Misconception of CSR Its not about philanthropy.

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Presentation transcript:

The Misconception of CSR Its not about philanthropy

One Dimensional Approach Traditional thinking

Multi Dimensional Approach Leveraging CSR to create value

What is CSR? oNot about donating sums of money to various charitable organizations/ causes. oIt is instead about running a business in a way that minimizes all negative impacts on society and the environment, while ensuring that business operations give rise to significant long- term benefits for all stakeholders. oIts ALL about Creating a sustainable business Living within environmental limits Ensuring a fair society

oCollapse of financial institutions were fundamentally due to a lack of accountability to their stakeholders, whether shareholders, customers, employees or other groups. oIf businesses do not become accountable and responsible: More collapses More reputational losses An even greater loss of investor confidence Sustainable Business

EmployeesUnions Local Communities InvestorsCustomers Suppliers and Contractors GovernmentMediaNGOsEnvironmentOthers An Integrated Approach to Stakeholder Accountability

Corporate Accountability Model Corporate Values Impacts, Risks & Opportunities Stakeholder Engagement Management & Governance Measurement and Disclosure Policy Coverage Defining the role the company wants to play in society How the company sets about defining and engaging with its stakeholders The depth of analysis of the risks and opportunities faced by the company Establishes its commitment and intent regarding implementing accountability Accountability incorporated with management and good governance. Tracking performance and keeping stakeholders informed

Corporate Accountability Model oIts what you Do and not what you Say that is important.