Environmental Practices and Csr Activities Followed by Itc

Topics: Triple bottom line, Corporate social responsibility, Corporation Pages: 3 (255 words) Published: September 14, 2011
Environmental Practices and CSR activities followed by ITC

CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility (CSR) is becoming an increasingly important activity to

businesses nationally and internationally. As globalisation accelerates and large

corporations serve as global providers, these corporations have progressively recognised the

benefits of providing CSR programs in their various locations. CSR activities are now being

undertaken throughout the globe.

1.1 What is corporate social responsibility?

The term is often used interchangeably for other terms such as Corporate Citizenship and is

also linked to the concept of Triple Bottom Line Reporting (TBL), which is used as a

framework for measuring an organisation’s performance against economic, social and

environmental parameters.

The rationale for CSR has been articulated in a number of ways. In essence it is about

building sustainable businesses, which need healthy economies, markets and communities.

The key drivers for CSR are

1

:

‰ Enlightened self-interest - creating a synergy of ethics, a cohesive society and a

sustainable global economy where markets, labour and communities are able to

function well together.

‰ Social investment - contributing to physical infrastructure and social capital is

increasingly seen as a necessary part of doing business.

‰ Transparency and trust - business has low ratings of trust in public perception.

There is increasing expectation that companies will be more open, more accountable

and be prepared to report publicly on their performance in social and environmental

arenas

‰ Increased public expectations of business - globally companies are expected to

do more than merely provide jobs and contribute to the economy through taxes and

employment.”
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