CSR is increasingly integrated as a business strategy and has maintained a proper place in the policies and practices around the globe. A number of factors are supplementing the awareness about CSR in a corporate setting. At an international level, a number of multi-stakeholder firms, non-profit organizations as well as inter-governmental organizations are taking initiatives to adopt CSR as an integral part of their business processings. The organizations are adopting CSR as a part of their policy matters to increase the demands and interest of different stakeholders and to enhance the competition to access the global market and satisfying the needs of society. Corporate social responsibility (CSR) in different countries
In major markets of the world, the corporate social responsibility is not a new term. In the last decade, the social media has come up with a number of ideas and opportunities for the companies to get creative with the initiative of CSR and examine this new kind of engagement. On the whole, the CSR industry continued to gain a grip with an impressive social impact, making its way to transparency.
At the same time, the rich data and communication technologies have helped the companies to deal with environmental and social issues. The experts believe that smart devices with rich data sources are better in exchanging knowledge and these advanced technologies have helped to solve bigger issues, around the globe.
The corporate social responsibility has become complete decree.
The Committee Encouraging Corporate Philanthropy has seen a prominent trend, around the globe, that certain regions of the world have obliged certain aspects of the corporate social engagement. The corporate entities that have current or about to grow multi-national footprint are in need of understanding this emerging landscape while addressing their social investment programs and the support compliance. In some emerging markets like Indonesia and Brazil, there are regulations that determine a particular type or level of corporate social investments.
In most parts of the world, the minorities are another most focused part of the society, when it comes to the appreciation of the CSR. There are a number of recorded initiatives, focused on the empowerment of girls and women rights. At the same time, the social impact has made its way to recommence and become a mission card. Professional on social network seemed to be more willing to volunteer their skills to induce a positive impact on the society and their circle.
To the fact, CSR has a huge impact on the climatic changed and the global environment on the whole. At the time when the global industries like textile are working keenly on the idea of sustainability in their production, the results are remarkable and come up with a massive positive impact on the society and the global climate on the whole. There are a number of big trends that are on the go, focusing on the climatic measurement and changes.
Corporate social responsibility (CSR) in different countries
CSR in US
US companies have had the luxury of defining and interpreting their own view of responsible business within the context of their own company. Subsequently they have been able to measure and promote activities with greater freedom than their international counterparts.
CSR in Australia
“Social responsibility is the responsibility of an organization for the impacts of its decisions and activities on society and the environment, through transparent and ethical behaviour that:
Contributes to sustainable development, including the health and the welfare of society
- Takes into account the expectations of stakeholders
- Is in compliance with applicable law and consistent with international norms of behaviour, and Is integrated throughout the organization and practiced in its relationships.”
Corporate Social Responsibility or CSR has been debated since the early twentieth century, but there has been little agreement over its definition due to:
- Differences in national and cultural approaches to business
- Differences in motivation for CSR – doing it because it is morally correct or doing it because it makes good business sense
- Differences in disciplinary backgrounds, perspectives and methods of scholars engaged with CSR
Business View of CSR
Business leaders and management scholars have generally understood CSR as a response to business failures that have accompanied the astonishing growth in size, impact and power of modern corporations. That growth is characterized by the separation of ownership from control and the rise of modern management techniques. While modern management has created great efficiencies, it has also led to a dilution of individual responsibility that is generally only visible when business gets into strife.
Business failures in Australia, such as Australia’s then biggest corporate collapse of HIH in 2001, together with crises in corporate accountability, such as the machinations of James Hardie to avoid liability for asbestos compensation by former workers, have led to a greater questioning here of the nature of corporate responsibilities.
Business leaders deal with CSR issues through specialist business organizations such as the Global Reporting Initiative, the UN Global Compact and the World Business Council for Sustainable Development. In contrast, scholarship related to CSR draws from many areas, including management, ethics, psychology, sociology, finance and accounting, sustainability, public affairs and communications.
CSR in Canada
Canada’s enhanced Corporate Social Responsibility (CSR) Strategy, “Doing Business the Canadian Way: A Strategy to Advance Corporate Social Responsibility in Canada’s Extractive Sector Abroad” builds on experience and best practices gained since the 2009 launch of Canada’s first CSR strategy, “Building the Canadian Advantage: A Corporate Social Responsibility Strategy for the Canadian Extractive Sector Abroad.”
The enhanced Strategy, announced on November 14, 2014, clearly demonstrates the Government of Canada’s expectation that Canadian companies will promote Canadian values and operate abroad with the highest ethical standards. It also outlines the Government’s initiatives to help Canadian companies strengthen their CSR practices and maximize the benefits their investments can provide to those in host countries.
Key elements of the enhanced CSR strategy include:
Strengthened support for CSR initiatives at Canada’s diplomatic network of missions abroad, aimed at ensuring a consistently high level of CSR-related service to the Canadian business community around the world, building networks and local partnerships with communities, and reinforcing Canadian leadership, excellence, and best practices in the extractives sector;
- Increased support and additional training for Canada’s missions abroad to ensure Trade Commissioners and staff are equipped to detect issues early on and contribute to their resolution before they escalate;
- Re-focusing the role of the Office of the CSR Counsellor, including strengthening its mandate to promote strong CSR guidelines to the Canadian extractive sector and advising companies on incorporating such guidelines into their operating approach. The CSR Counsellor will also build on the work conducted at missions abroad by refocusing efforts on working to prevent, identify and resolve disputes in their early stages;
- In situations where parties to a dispute would benefit from formal mediation, the CSR Counselor will encourage them to refer their issue to Canada’s National Contact Point (NCP), the robust and proven dispute resolution mechanism, guided by the OECD Guidelines for Multinational Enterprises on responsible business conduct, and active in 46 countries;
- Companies are expected to align with CSR guidelines and will be recognized by the CSR Counselor’s Office as eligible for enhanced Government of Canada economic diplomacy. As a penalty for companies that do not embody CSR best practices and refuse to participate in the CSR Counselor’s Office or NCP dispute resolution processes, Government of Canada support in foreign markets will be withdrawn;
- Inclusion of benchmark CSR guidance released since 2009, namely the United Nations’ Guiding Principles on Business and Human Rights, and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas; and
- Flexibility to build awareness of a broader range of extractive sector-specific CSR guidance, including those developed in Canada, e.g., the Mining Association of Canada’s Towards Sustainable Mining, and the Prospectors and Developers Association of Canada’s e3 Plus.
CSR in United Arab Emirates
The concept of corporate social responsibility (CSR) in Dubai and the UAE has always been present from the earliest Islamic times, with people and organizations practising Islamic values, donating through philanthropy and Shariah compliant ways of commerce. In recent years, there have been worldwide initiatives to invest responsibly and focus on investing profits into community life and saving the environment.
CSR at government level
The UAE is among the countries in the region most interested in social welfare, through the provision of various public services aimed at maintaining an advanced level of social and economic stability. This has included the provision and development of infrastructure and municipal services, education and health.
In the net shell, reviewing the past decade, we can see that the language of CSR is changing for a good reason and the people are getting more and more aware as well as willing to implement the idea. This search has led its way to new ideas and has developed an expectation of what a socially responsible corporation has to be. The alarming situations in the global village are highly demanding a strategic implementation of CSR into the society and demand the corporate entities to be an active part of the ideology.