WBCSD launches corporate social responsibility report
Responsible behaviour is not something new in business life. Yet, in our fast changing times, business is being challenged to operate with new levels of transparency and dialogue to secure the goodwill it needs to operate, says the World Business Council for Sustainable Development (WBCSD).
Although the rationale for the very existence of business is to generate acceptable returns for its shareholders and investors, business leaders also understand that they have to satisfy a broader group of interested stakeholders. These include not only shareholders, but also employees, customers/consumers, suppliers, communities and legislators. Such stakeholders have influence and rights, according to Meeting Changing Expectations, the first report on corporate social responsibility by the World Business Council for Sustainable Development (WBCSD).
The 34-page report, co-authored by two leading business figures, Phil Watts of Shell International and Lord Richard Holme of Rio Tinto, contains case studies showing how companies are contributing to good practice in CSR and how they are responding to society’s changing expectations in this field.
The report unique was developed through dialogues between business and its stakeholders, those affected by or those affecting business’s activities—including representatives from labour organizations, academia, church, indigenous peoples, human rights groups, governments and NGOs.
The WBCSD says it will continue to make progress on CSR and will produce a full report next year. In the meantime, the organization will work with individual companies, NGOs and engage more countries and stakeholders into the process. It will also generate guidance on how to measure and report CSR performance.
The report can be viewed in Adobe Acrobat format by following the link below (requires Acrobat Reader plug-in)
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