Responsibilities corporate social

It is hoped that the concept of Corporate Social Responsibility will lead business beyond conventional legal requirements to a greater responsibility that matches the expectations and interests of their stakeholders. 

These stakeholders include employees, shareholders, suppliers, customers, local authorities, non governmental organisations, and local communities. Together they are providing the pressures that are shaping the political climate. The first steps along a tortuous road have been taken. The pace will increase with implications to all professionals who have a role to play in protecting the environment. 

Meadows, D., The Limits to Growth, Report to the Club of Rome and the United Nations Conference on the Human Environment, Stockholm (1972) 

FeUenberg, G., The Chemistry of Pollution, J Wiley Sons, New York (2(XX)), ISBN 0471613916 

The Co-operative Bank pic. Ethical Investment Policy, The Co-operative Bank pic, Skehnersdale (2001) 

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Sustainability overall objective for human beings formulated by the United Nations in the 1990s is to ensure sustainable development for future generations chemical companies have already started to translate this objective into their industry practice with respects to products developed and sold, energy and natural resource efficiency in their processes, climate protection, corporate social responsibility for the workforce as well as stakeholders in production and consuming areas sustainability as an objective also already inspired operations research and supply chain literature (see for example Zhou et al. 2000 Al-Sharrah et al. 2002)... 

Encouragement of the pharmaceutical industry to take a more active, direct, long-term responsibility for the safety of their products and customers, through reallocation of priorities and funds, as part of corporate social responsibility. 

Trends Environmental protection by way of environmentally-oriented business management, sustainability, corporate social responsibility... 

Drug companies exist within a market economy and cannot be expected to deviate from the norms of that economy. By law, corporations have a "duty to put shareholders Interests above all others and no legal authority to serve any other interests" (Bakan 2004 36). Corporations are amoral they need to obey the law, but beyond that their obligation is to be as profitable as possible. Corporate social responsibility or anything that reduces profitability in the long term violates the corporation s fiduciary duty to its shareholders and leaves it vulnerable to a civil lawsuit. 

Industry perspectives on equity, access, and corporate social responsibility a view from the inside... 

A basic notion of social responsibility is corporative social responsibility. 

Proliferation of Corporate Social Responsibility and Socially Responsible Investing (CSR/SRI) standards and the compliance with key standards as a requirement of doing business. 

Today, leadership companies are expected to respond to a proliferation of corporate social responsibility (CSR) and socially responsible investing (SRI) standards. Leading companies report not just their return to shareholders but also their return to stakeholders. But with more than a dozen major standards organizations - each representing a variety of stakeholder perspectives - and even more questionnaires for reporting on CSR/SRI accountability and sustainability practices (see the Standards Directory Appendix Item A), how should a company approach this emerging field And, even more critical for the business bottom line, what strategic opportunities are indicated ... 

The Directory of Standards and CSR-Related Organizations, as compiled by The Future 500, may be found in Appendix 2, and is a summary of corporate social responsibility standards and organizations compiled by the Future 500 organization. 

There are many different ways of looking at the relationship between Corporate Social Responsibility (CSR) and Sustainable Development and the impact on the role of business and industry. However, there are, in our opinion, no major substantial differences between CSR as we have described it in this report and sustainable development as it originally was presented in Our Common Future. Or to put it another way every aspect of CSR should already be covered by sustainable development (DNV, 2002). 

In Tomorrow s Company s paper, Redefining CSR, the London-based think tank offers one of the simplest and clearest definitions of corporate social responsibility... 

In Europe, calls for increased disclosure got a boost in 2001 when the Association of British Insurers (ABI), a 400-member trade association of Britain s insurance industry, issued new guidelines. The ABI members account for more than 20 percent of stockmarket investment in London. These guidelines ask companies to disclose information about the social, environmental, and ethical risks and opportunities they face and how they plan to handle them. ABI officials say the guidelines represent an important opportunity for investors and companies to work together both to protect shareholder value and improve their understanding of corporate social responsibility (see www.abi.org.uk). 

Business for Social Responsibility, Comparison of Selected Corporate Social Responsibility Related Standards, November 2000, p. 3 footnote. 

K. L. Coyne, Overview Corporate Social Responsibility and Sustainable Development Standards. Presentation made to The Auditing Roundtable, New York Metro-New England Regional Meeting, March 6, 2002. 

Ipsos Reid, Reputation Management, Presentation at IQPC Conference Communications and Media Relations for Corporate Social Responsibility, August 27, 2003, Toronto, Canada. 

A. McWilliams and D. Siegel, Corporate Social Responsibility Correlation or Misspecifica-tion Strategic Management Journal, 21, 603-609 (2000). 

Every industry in the United States is grappling with sustainability, or corporate social responsibility, and the chemical industry is no exception. During the first quarter of 2004, PricewaterhouseCoopers LLP (PwC), in collaboration with BRIDGES to Sustainability (BRIDGES), conducted a survey, two focus groups, and interviews of senior executives and managers in the chemical industry, which revealed the following. 

Sustainable Development, Sustainability, Corporate Social Responsibility, are terms often used to describe the trend towards enhanced performance and reporting with respect to environmental, social, and economic indicators. 

Input from internal and external stakeholders is also critical to continuous improvement and our continued success. GSK actively seeks stakeholder involvement for its Plan for Excellence and its Corporate Social Responsibility initiatives. In addition, customer feedback is routinely obtained and helps to focus attention on issues that affect the public through the consumption of GSK products. GSK has also published reports of its EHS performance since 1992 and has continued to develop and enhance its reporting to align with many of the features recommended by the Global Reporting Initiative. 

Dow s Chairman and CEO, William Stavropoulos, The Business of Business Managing Corporate Social Responsibility What Business Leaders are Saying and... 

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