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Promoting Sustainable and Responsible Business in Asia and the Pacific

The Role of Government

image of Promoting Sustainable and Responsible Business in Asia and the Pacific
This policy-oriented paper identifies initiatives that policy-makers in the Asia Pacific region should duly consider for promoting CSR practices, at both the regional and national levels, and spanning domestic SMEs to large MNEs. The initiatives are diverse in focus and scope, although there is one common denominator: virtually none can be enacted by government alone. Any initiative to promote sustainable and responsible business needs to be sustainable in itself, and that in turn necessitates the active engagement and tangible inputs of the business community.

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Executive summary

Corporate social responsibility (CSR) is about companies operating in a manner that is sustainable, cognizant of their responsibility to the wider community in which they are located. CSR is more than simply acts of philanthropy or allocating a proportion of its earnings to worthy causes; it is strategic in nature, and is about how a business actually functions. CSR typically boils down to a set of policies within a company that seek to ensure that its actions and activities are beneficial, not only to itself and its shareholders, but also to other stakeholders, typically comprising: customers, employees, the wider community and the environment.

English

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