Development and Society
Corporate Social Responsibility
Why CSR Matters for Canadian Business Active Internationally
CSR enables a company to better manage their risks and
add value to the corporation.
Leading companies are now routinely publishing separate reports
on business ethics, corporate behaviour, employee policies, community
involvement, and environmental protection measures. How to incorporate
the principles of corporate social responsibility into normal business
practice will vary from company to company and according to local
circumstances. There is no standard blueprint, but there are an
increasingly large number of case studies to draw on. Partnership
with other organisations - such as NGOs, international institutions,
and academic institutions - is often crucial. This is because of
the expertise they bring in such specialist areas as the environment,
human rights, governance and development and because of the links
they may already have developed with local communities and government
agencies.
There is also scope for companies to get together to develop voluntary
standards or codes of practice with help from experts in NGOs and
support from governments. This can be a useful way to develop a
common understanding of best practice in complex operating situations
and in establishing performance benchmarks. By following such standards,
companies will be able to enhance their reputation. They can also
improve relationships with contractors and suppliers, boost consumer
confidence and improve risk management.
Corporate social responsibility is underpinned by various international
conventions and codes. These instruments may not carry the force
of law locally, but are important in establishing principles against
which companies operating abroad can assess their performance. See
advancing CSR Internationally in the ITCan
& CSR webpage.
There is not one generally accepted tool or procedure for a company
to follow in developing Corporate Responsibility Practices. The
first step is to determine what your organization is attempting
to accomplish in terms of CSR practices, such as the stakeholder
expectations and concerns you are wanting to address, the tangible
measures and actions you are prepared to commit towards this undertaking,
and prioritisation of these actions.
In addition to the tools/resources found in the above mentioned
sections of this website, the following are a list of selective
tools and resources for advancing CSR in your business. While some
of the tools/resources are general others are more specifically
relevant to companies operating in countries with weak governance/conflict
- where issues such as human rights, labour and anti-corruption
are more glaring.
INTERNATIONAL CSR TOOLS
Tools specific to operating in Conflict Zones
Tools to address the issue of Corruption and Bribery
Environmental Management Guidelines and Principles
HIV/AIDS related resources for Business
Tools and Guidelines related to Human Rights
Promotion and Protection of International Labour Standards
Sustainability Auditing and Reporting
World Bank (WB) and International Financial Corporation
(IFC) Standards, Guidelines and CSR focused Practices
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