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2354 Soc - Resp. 2

The document discusses corporate social responsibility and outlines its key elements and voluntary nature. It also discusses CSR initiatives companies can undertake and the role of the ILO in promoting CSR. National voluntary guidelines for sustainability reporting are presented along with their objectives and core principles.

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Kanika Rustagi
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35 views10 pages

2354 Soc - Resp. 2

The document discusses corporate social responsibility and outlines its key elements and voluntary nature. It also discusses CSR initiatives companies can undertake and the role of the ILO in promoting CSR. National voluntary guidelines for sustainability reporting are presented along with their objectives and core principles.

Uploaded by

Kanika Rustagi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Corporate Social Responsibility – 2

The elements that characterize CSR

i) Its voluntary nature – enterprises voluntarily adopt socially


responsible conduct by going beyond their legal obligations.

ii) It is an integral part of company management.

iii) CSR actions are systematic not occasional.

iv) Its link with the concept of sustainable development.

v)Its consideration of the impact of business operations on society.


Being socially responsible means not only fulfilling legal expectations,

but also going beyond compliance and investing ‘more’ into human

capital, the environment and the relations with stakeholders.”


The outcomes of CSR initiatives should be a spillover, not their reason
for being.
The ILO can play an important role in CSR because labour standards
and social dialogue are key aspects of CSR. Most CSR initiatives,
including codes of conduct, refer to the principles deriving from
international labour standards. Furthermore, the ILO’s unique tripartite
structure and its efforts to promote social dialogue are key to
facilitating the involvement of all relevant stakeholders in the
dissemination of CSR.
Corporate social initiatives
1. Corporate philanthropy: Donations to charity via a corporate
foundation
2. Community volunteering: Company-organised volunteer activities.
3. Socially-responsible business practices: Producing ethical products.
4. Cause promotions and activism: Company-funded advocacy
campaigns.
5. Cause-based marketing: Donations to charity based on sales.
6. Corporate social marketing: Company-funded behaviour-change
campaigns
National voluntary guidelines

Non- financial metrics such as those relating to environmental, social


and governance (ESG) factors need to be captured by companies and
thus the need for a standardized reporting framework. UN Global
compact, Global Reporting Initiative (GRI) and Carbon Disclosure
project are internationally accepted reporting frameworks which
provide a platform for companies to disclose their sustainability
practices and policies.
Objective
The primary objective of these guidelines is to encourage adoption of
sustainability reporting and mainstream disclosure on environmental,
social and governance metrics.

It is based on the premise that you can’t change unless you measure.
NVG provide businesses a framework which enables them to move
towards responsible decision making and urges them to adopt the
“triple bottom-line” approach.
NVG – Core Principles

Principle 1: Businesses should conduct and govern themselves with Ethics,

Transparency and Accountability

Principle 2: Businesses should provide goods and services that are safe and contribute

to sustainability throughout their life cycle

Principle 3: Businesses should promote the well-being of all employees

Principle 4: Businesses should respect the interests of, and be responsive towards all

stakeholders, especially those who are disadvantaged, vulnerable and marginalized


Principle 5: Businesses should respect and promote human rights
Principle 6: Business should respect, protect, and make efforts to restore the
environment
Principle 7: Businesses, when engaged in influencing public and regulatory policy,
should do so in a responsible manner
Principle 8: Businesses should support inclusive growth and equitable development
Principle 9: Businesses should engage with and provide value to their customers
and consumers in a responsible manner

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