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From Corporate Social Responsibility to Corporate Sustainability

Moving the Agenda Forward in Asia and the Pacific

image of From Corporate Social Responsibility to Corporate Sustainability
This publication looks at recent developments in corporate social responsibility (CSR) with particular attention to the growing role of impact investment and the need for greater convergence of global CSR instruments and provides recommendations to policymakers to enhance the adoption of CSR as an integral part of business strategy and operations. Increasingly, companies are adopting sustainable business practices as an integral element of their corporate strategies, going beyond the traditional interpretation of CSR and engage in social or impact investment and/or play active roles in development cooperation, including the provision of disaster relief and humanitarian assistance. Various global CSR instruments and sustainability frameworks, such as the Global Compact, Global Reporting Initiative and ISO 26000, have been in existence for some time and have been increasingly adopted by many companies, usually the bigger transnational corporations (TNCs).

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Convergence and coherence in international CSR instruments: Implications for business in the Asian and Pacific Region

A variety of instruments have emerged globally and locally to help companies implement corporate social responsibility (CSR): principles, management standards, reporting indicators and others. These instruments have arisen over the past two to three decades in the absence of clear legal frameworks on the roles and responsibilities for businesses in the areas of environment, labour, human rights, corruption and others. Many of these standards have their roots in the major international conventions on labour, human rights, and environment, leading to a certain degree of convergence of topics.

English

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