Corporate Social Responsibility

Corporate Social Responsibility?One of the buzz phrases in the Australasian finance industry at present is corporate social responsibility.

Corporate Social Responsibility (CSR) suggests that companies should consider not just the economic impact of their actions but also the social, employment and environmental impacts.

And as Attracta Lagan writes the stakes are huge:

“Business will determine the quality of the air we breathe, the fuel we burn, the food we eat and the water we drink. So too, it is business that will shape the emergence of a global society by determining who is included, who is informed, who gets what and which human rights are enshrined in the global workplace.”

The World Business Council for Sustainable Development defines CSR as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.”

One key element of CSR is ensuring that your workforce is treated fairly including fair pay and conditions, employment equity, occupational health and safety and work-life balance.

In the 1990s business leaders could get away with, or even be lauded for their blinkered focus on profits at the expense of all else. But these days more and more businesses, banks and finance companies included, are expected to work towards and report on their corporate social responsibilities. For instance here are the latest reports from Westpac, NAB, ANZ and Vero. Information in the NAB report helped Finsec identify serious staffing issues at the BNZ earlier this year.

So, as the Bill McKibben noted last year, all but the most recalcitrant multinationals are clambering to be seen as socially responsible corporates:

“Which is nice. The question is, what does it amount to?

“Take BP. In 2004, its revenues from solar power were almost $400 million; its total revenues, almost entirely from hydrocarbons, were $285 billion. In other words, the company has gone beyond petroleum to the tune of about one-sixth of 1 percent of sales.”

McKibben argues that we can’t leave the job of social responsibility to corporations to manage on their own. We need to use our political power as citizens to monitor them, to set them our own goals for what is acceptable and push them along:

“In fact, corporations are the infants of our society—they know very little except how to grow (though they’re very good at that), and they howl when you set limits. Socializing them is the work of politics. It’s about time we took it up again.”

(thanks to davescunningplan for the photo)


3 Responses to “Corporate Social Responsibility”

  1. 1 christian home business 19 April, 2013 at 10:31 am

    You know a lot of people don’t genuinely know the benefits of writing a blog. Or even just simply how much hard work that goes into building a blog site. Honestly operating a blog can be alot of fun and a good way to progress your own brand or business.

  2. 2 Victorina 20 April, 2013 at 4:49 pm

    You should generously massage your head with this oil at night for flaunting a high quality
    curls next day. Amla is used in the preparation of a highly effective natural shampoo
    by mixing 100 g each of amla, nuts and Shikakai soap
    in two quarts of water, the mixture is boiled for
    half an hour to simmer and then can be used as shampoo
    for one month for all hair treatment throughout the year.
    Deemark herbal hair care oil have been traditionally used to treat irritated stressed scalp, reduce effect of aging on
    hair shape and growth, combat seborrhea and alopecia. The remaining oil
    in the scalp for a day and then follow up with a shampoo the next morning.

    Indeed, nourishing and conditioning the scalp using aromatherapy oils is one of the most basic and simplest ways to prevent further hair loss and stimulate healthier hair regrowth.

  3. 3 行動電源推薦 22 June, 2013 at 6:46 am

    Rattling great visual appeal on this website , I would price it ten ten.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

You can contact us at:

0800 FINSEC (0800 346 732)

Creative Commons License
Join Now 0800 FINSEC

RSS New Zealand union news from LabourStart

  • An error has occurred; the feed is probably down. Try again later.

RSS LabourStart – act now to help other workers

  • An error has occurred; the feed is probably down. Try again later.

Finsec Photos



%d bloggers like this: