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In the business world CSR and ESG are essentially the same. There are many definitions of what it covers. The definition coined by Chris Marsden of Amnesty International Business is as good as many: “Corporate Social Responsibility (CSR) is about the core behaviour of companies and the responsibility for their total impacts on the societies in which they operate.”

It is about an organization being:

  • Profitable;
  • Responsible;
  • Aware of all impacts- positive and negative- of its actions be they environmental, social, political, or “other”.

The benefits of an appropriate, tailored CSR programme ALWAYS far exceed the financial costs. The benefits are widespread and include:

  • Reputation;
  • Brand;
  • Employee motivation, engagement and pride;
  • Recognition from regulators and governments;
  • More effective understanding with suppliers;
  • Social recognition.

Every organization in 2011 needs a meaningful CSR programme. It would be a failure of the board and its corporate governance fabric if CSR was omitted or continued to be seen as a “nice to have”.

At Majlis we have the experience and knowledge to work with your organization as it develops or improves its CSR programme.
For more information please contact the Corporate Governance Department of Majlis Partners