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Abdur Rashid Mirza
University of Lahore
School of Accountancy & Finance
Lecture no.04
Corporate Social Responsibity
Meaning of Corporate Social Responsibility
Corporate= Corporate is a business or entity.
Social = Living together in communities.
Responsibility = Something for which one is responsible; a duty, obligation, or burden.
Historical Perspective From the 1950s to the present the concept of CSR has
gained considerable acceptance .
Corporate Social Responsibility (CSR)
CSR considers the impact of the companys actions on society (Bauer)
CSR requires decision makers to take actions that protect and improve the welfare of society as a whole along with their own interests (Davis and Blomstrom)
Corporate Social Responsibility (CSR)
Key Issues in CSR
Labour rights:
child labour
forced labour
safety and health
Environmental conditions
water & air emissions
climate change
Poverty Alleviation
job creation
public revenues
skills and technology
Compliance Management:
Management by certification
ISO 26000: Social Responsibility
To be Introduced in 2009 or 2010
Principles of SR 1. Ethical behaviour 2. Respect for rule of law
3. Respect for and considering of stakeholder interests
4. Accountability 5. Transparency
6. Precautionary approach 7. Respect for human rights
Organizational Governance
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Core Subjects
ISO 26000 Roadmap
Human Rights
Principle 1: Support and respect the protection of international human rights.
Principle 2: Make sure their own corporations are not involve in human rights mishandlings.
The UN Global Principles (1)
Principles of the Global Compact
Adapted from Table 3-1: Principles of the Global Compact
Labor
Principle 3: Freedom of association and the effective recognition of the right to collective bargaining.
Principle 4: The elimination of all forms of forced and compulsory labor.
Principle 5: The effective abolition of child labor.
Principle 6: The elimination of discrimination with respect to employment.
The UN Global Principles (2)
Principles of the Global Compact
Adapted from Table 3-1: Principles of the Global Compact
Environment
Principle 7: Support a precautionary approach to environmental challenges.
Principle 8: Undertake initiatives to promote greater environmental responsibility.
Principle 9: Encourage the development and distribution of environmentally friendly technologies.
The UN Global Principles (3)
Principles of the Global Compact
Adapted from Table 3-1: Principles of the Global Compact
Anti-Corruption
Principle 10: Business should work against all forms of corruption, including pressure and bribery.
The UN Global Principles (4)
Principles of the Global Compact
Adapted from Table 3-1: Principles of the Global Compact
Thank you