Global CSR Summit 2010
June 14, 2010 by Eugene Tay
Filed under Events
Green Business Times is the Media Partner for Global CSR Summit 2010.
The present environmental, political and financial issues confronting business, governments and people today have pushed Corporate Social and Responsibility (CSR) as one of the top priorities in organisations today. Prior to the global financial crisis, CSR has not been widely embraced by organisations and often been seen as adding unnecessary cost or simply lip service.
Customers, governments, investors and NGOs are now demanding that companies act responsibly and adopt and implement CSR practices within the corporate culture and activities.
In the post crisis world, it is no longer possible to continue “business as usual”. Business shrouded in secrecy, lacking accountability and transparency with unsustainable business models will eventually be exposed and brought down like a pack of cards as seen in the infamous Madoff Scandal. In this new business environment, a company’s reputation has become one of its most valuable assets, and CSR is one of the main key component of corporate reputation.
Emerging from global recession and limited financial resources, many companies are charting a new course. As business leaders navigate this evolving and challenging terrain, they must satisfy the demands of customers, employees, investors and governments. At the same time, the need to develop new strategies that address the economic, social, and environmental impact of their business practices remains imperative.
In spite of the variety of approaches to CSR, there is wide consensus as to its main characteristics. Companies that adopt socially responsible behaviour go beyond their legal obligations to choose this voluntary course of action, because they believe these to be in their long-term interests. CSR is also intrinsically linked to the concept of sustainable development in which companies must integrate economic, social and environmental results in their management systems.
Therefore, CSR is not an option to be ‘added’ to the principle activities of the company but it is an integral part of corporate management. It is about building on existing practice, maximising its impact and making a link between social responsibilities and best business practices.
At this year’s 2nd Annual Global CSR Summit 2010 & Awards, we celebrate and salute the resilience of companies that have not only weathered the financial storm but remained resolute in trying times, to continuously uphold the highest stan-dards in CSR while developing innovative and sustainable solutions and products for greater profitability and improving the welfare of societies.
Visit the Global CSR Summit 2010 website for details and registration.
