CSR
The framework for corporate governance is not only an important component affecting the long-term prosperity of companies; it is also a leading species of large genus namely, National Governance, Human Governance, Societal 5 Governance, Economic Governance and Political Governance. All of this is also a part of sustainability. Sustainability encompasses various issues including, environment, health, safety, corporate social responsibility, philanthropy, community, etc. A sustainable corporation is the one that protects the environment and improve the lives of those with whom it interacts, while creating profits for its shareholders. This definition of sustainable corporation is achievable when the triple-bottom-line (economic, social, environment) is well integrated into the framework of corporate governance.
Environmental and other socially vital commitments is usually among the promises that responsible companies make to their communities.
John D. RockfellerJohn D. Rockefeller, whose success in business enabled him to start the Rockefeller Foundation He said, "I was trained from the beginning to work and save. I have always regarded it as a religious duty to get all I could honorably and to give all I could." Whenever businesses make contributions to their community, they are honoring this tradition of giving back to the people who make their ongoing success possible.
Corporate social responsibilityis a term that has come to mean whatever a company does to give back to the community in which it has a presence. Sometimes this involves grants, volunteerism or sponsorships. Other times, a company will choose to demonstrate its corporate social responsibility by a commitment to clean energy or some other laudable effort or cause.
Posted by Drs. Brad Googins
A recent survey of nearly 800 sustainability professionals in business, government, NGOs, academe, and the media in over 70 countries concluded that experts overwhelmingly believe companies should collaborate with multiple actors, including governments, to advance sustainability most effectively. Yet the survey found a huge gap between the importance to companies of partnering for sustainability versus its likely adoption in practice(58% versus 30%). Key perceived barriers to collaboration included the absence of shared goals, a lack of executive leadership, and simply a lack of experience.
There are four types of corporate social responsibility
Environmental Responsibility
Specific environmental issues that affect businesses include global warming, sustainable resources and pollution. Businesses are being urged by environmental groups and governments to reduce their carbon footprint, to obtain their materials from sustainable sources and to reduce their pollution.
Human Rights Responsibility
The ethical issue for corporations is ensuring that human rights are respected throughout all levels of the supply chain. Major companies have received criticism for their use of sweat shops and for sourcing resources that are harvested by unfairly treated workers.
Public responsibility
CSR acknowledges this, and attempts to make the interactions between corporations and society positive and productive. This can be done by consulting with neighbors and citizens who are affected by corporate activities and by striving for transparency in corporate pursuits so that the public knows what is going on.
Staff Responsibility
Staff and employees of corporations have a right to expect fair pay, safe working conditions and meaningful work. CSR is one aspect of a transformation in the corporate world that attempts to overcome archaic views of workers as mere means to an end on the part of shareholders. Particularly in less developed countries that are often the sites of intensive resource extraction, the treatment of labor is frequently substandard. CSR is intended to promote the rights of all workers and to ensure that corporations respect these rights and make whatever changes are required to prevent the exploitation and mistreatment of labor.
ROLE OF EFSO IN CSR & SUSTAINABLE DEVELOPMENT
EFSO has taken an initiative in promoting Sustainable Development in corporate sectors by encouraging environment loving employer & employees who have passion for Green initiatives & work towards sustainable development with interest & passion rather than taking it like extra responsibility. The environment loving employees give much better results towards Green Initiatives. The corporate & organizations should embed this green initiative passion for profitable sustainable development of the sector. EFSO will promote CSR by encouraging eco friendly activities by organizing various eco friendly events in the organization like eco friendly tours, eco sports & organic food festivals.
EFSO vision is to help the world run better and improve people's lives. Our partnerships across the world of sports and eco friendly activities reflect our commitment to excellence, innovation, and sustainability, as well as our objective to give back to local and global communities. Throughout the year, EFSO and our partners work together to raise funds for worthy causes, participate in days of service and inspire young people through junior achievement programs. These programs are at the core of how EFSO and our partners are helping the world run like never before.
To Know More About CSR & SUSTAINABLE DEVELOPMENT
Click Here
