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CSR Value and Responsibility: Shareholders, communities and governments

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A keynote presentation to the East Africa CSR Forum on Developing CSR Policies and Guidelines. Dar es Salaam, Tanzania, Sept 2013

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CSR Value and Responsibility: Shareholders, communities and governments

  1. 1. Canada-East Africa CSR Forum Developing CSR Policies and Guidelines Dar es Salaam, Tanzania Sept 30 – Oct 1, 2013 CSR, VALUE AND RESPONSIBILITY Shareholders, Communities and Governments Wayne Dunn Professor of Practice in Corporate Social Responsibility McGill University Institute for the Study of International Development wayne@waynedunn.com
  2. 2. What is Corporate Social Responsibility?  Where did it come from?  How did it get here?  Why isn’t it? • Community social responsibility • NGO social responsibility • Government social responsibility  Or is it part of all of these? Shared Social Responsibility Creating Shared Value
  3. 3. Where did it come from? Globalized world is demanding more of business…  Global media – The CNNization of the world – remote local issues direct to television screens  Proliferation of NGOs and CBOs – direct, well organized and financed support to communities  Internet and Social Media – direct communications from remote projects to worldwide audience  Global Democratization – increased attention to local issues
  4. 4. CSR History – late 1990s to present Some phenomena  Growing expectation that business can and should contribute to social and community well-being  Emergence of Social License - Local communities and other stakeholders have growing power and influence  Reputational capital is increasingly important
  5. 5. www.waynedunn.com; CSR History – late 1990s to present  ‘Socially conscious’ shareholders  Social Investment Funds (Socially responsible investment refers to making investment decisions based on financial returns as well as a company’s social and environmental practices, corporate values and ethics).  The Financial Markets • Dow Jones Sustainability Index • FTSE Sustainability Index
  6. 6. “By working together to mobilize sustainable investment in the Least Developed Countries, government, business and civil society give hope and opportunity to the world’s poorest” “lasting and effective answers can only be found if business – working together with other actors including government and civil society– is fully engaged” Kofi Annan United Nations Global Compact announced by the then UN Secretary-General Kofi Annan in an address to The World Economic Forum on January 31, 1999, and was officially launched at UN Headquarters in New York on July 26, 2000
  7. 7. CSR in the OLDEN DAYS Policies & Good Intentions Solving Social Problems
  8. 8. CSR in the OLDEN DAYS (cont) Framework Plan ?Results? System more than a warm fuzzy issue Spending isn’t the answer Partners
  9. 9. CSR: Beyond Beads and Trinkets
  10. 10. What is a company’s social responsibility throughout the industrialized world and in many developing countries there has been a sharp escalation in the social roles corporations are expected to play. Companies are facing new demands to engage in public-private partnerships and are under growing pressure to be accountable not only to shareholders, but also to stakeholders such as employees, consumers, suppliers, local communities, policymakers, and society-at-large. Harvard CSR Initiative “CSR is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well of the local community and society at large” World Business Council on Sustainable Development
  11. 11. What is CSR  It’s about organizing business investments, operations and activities so social value is created while also creating shareholder value.
  12. 12. Collective Social Responsibility The Millennium Development Goals (MDGs) are eight international development goals that were officially established following the Millennium Summit of the United Nations in 2000 All 193 United Nations member states and at least 23 international organizations agreed to achieve these goals by the year 2015
  13. 13. What is Corporate Social Responsibility?  Themes • Business is bad but getting better (or not) • We (business) need to do more and we are (especially my business)!  Why isn’t it • Community social responsibility • NGO social responsibility • Government social responsibility  Or is it part of all of these? Shared Social Responsibility Creating Shared Value
  14. 14. Strategic Social Responsibility Shared Value & Responsibility Community Government Business International Organizations NGOs
  15. 15. How to think about CSR systematically • Frameworks and systematic approaches to CSR is still an evolving area, despite a lot of progress over the last 15 years • No one size fits all • CSR programs and activities can be examined along many dimensions
  16. 16. Some Key Dimensions to Think About Type of Activity Grants and Donations Community Social & Health Training and Education Local Institutional Development Local Infrastructure Employment Procurement Local Industries (Oil Palm) Other
  17. 17. Some Key Dimensions to Think About Value Proposition What Value Gets Created – For Who? Avoid Zero-Sum situations when possible Value Sustainability Does the initial investment continue to provide value beyond the investment timeframe Social Value Return on Investment Not every dollar invested in CSR creates the same level of social value
  18. 18. Some Key Dimensions to Think About Partners Who/what benefits from success of this initiative? What sort of partners would fit with this initiative? (if any) What value would they receive? Create? (for project and for company)? Shareholder Value Creation What’s in it for the company?
  19. 19.  Value for People  Value for Communities  Value for Shareholders  Value for Governments  Value for all stakeholders Need to balance interests CSR is a SHARED RESPONSIBILITY CSR is about value creation not Charity
  20. 20. Questions, Comments, Suggestions Wayne Dunn Professor of Practice in Corporate Social Responsibility McGill University | Institute for the Study of International Development wayne@waynedunn.com www.csr-exec-ed.com Desk: +1.250.743.7619 Mobile: +1.250.701.6088 Ghana +233 (0)54 110.7974 “Education is not the filling of a pail but the lighting of a fire.” William Butler Yeats

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