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Canada/Ghana Inaugural CSR Seminar - Keynote Address

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Wayne Dunn's keynote address to the Inaugural Ghana/Canada CSR Seminar. March 2006. Accra, Ghana
www.waynedunn.com

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Canada/Ghana Inaugural CSR Seminar - Keynote Address

  1. 1. Canada/GIMPA CSR Seminar Corporate Social Responsibility Integrating financial, social and environmental value creation CANADA/GIMPA CSR SEMINAR 23-Feb-06 Accra, Ghana Presented by: Wayne Dunn wayne@waynedunn.com A History of Creating Innovative PartnershipsPage 1
  2. 2. Canada/GIMPA CSR SeminarPresentation Objective and Outline  Define CSR and Social Investment;  Discuss rationale and driving forces for CSR and social investment;  Develop understanding of relevance of CSR to business community;  Brief description of two case studies  Questions and discussion. A History of Creating Innovative PartnershipsPage 2
  3. 3. Canada/GIMPA CSR Seminar What is CSR? Corporate Social Responsibility (CSR) A concept whereby companies integrate social and environmental concerns into their business mission and operations, and in their interactions with stakeholders. A History of Creating Innovative PartnershipsPage 3
  4. 4. Canada/GIMPA CSR SeminarDefinitions Corporate Social Responsibility (CSR), Sustainable Development, Social programs, Community Relations Terms are often used interchangeably Definition “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” Corporate Social Responsibility (Sustainable Development) Financial Social Environmental Responsibility Responsibility Responsibility WBCSD Diagram A History of Creating Innovative PartnershipsPage 4
  5. 5. Canada/GIMPA CSR SeminarThe New Reality of Business A History of Creating Innovative PartnershipsPage 5
  6. 6. Canada/GIMPA CSR SeminarCSR is a Global Phenomena “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” Kofi Annan UN Global Compact Secretary-General A History of Creating Innovative PartnershipsPage 6
  7. 7. Canada/GIMPA CSR Seminar CSR is:  Companies working in partnership with communities and others to address problems;  Companies promoting good values to Civil Society Companies their employees, suppliers, customers, partners;  Companies investing in social and economic development;  Companies being good corporate citizens; Gov’t & Donors A History of Creating Innovative PartnershipsPage 7
  8. 8. Canada/GIMPA CSR Seminar Why is CSR happening? 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 other communications innovations – direct communications from remote projects to worldwide audience  Global Democratization – increased attention to local issues A History of Creating Innovative PartnershipsPage 8
  9. 9. Canada/GIMPA CSR SeminarWhy is this happening (cont)  Emergence of Global Standards – Equator Principles – World Bank/IFC Environment and Social Standards adopted by private banks  World Bank/IFC Global Review of Extractive Industries A History of Creating Innovative PartnershipsPage 9
  10. 10. Canada/GIMPA CSR Seminar Shareholder Pressures  ‘Socially conscious’ shareholders  Social Investment Funds – Socially responsible investment refers to making investment decisions based on a company’s social and environmental practices and on their corporate values and ethics).  The Financial Markets – Dow Jones Sustainability Index (http://www.sustainability- index.com/) – FTSE Sustainability Index (FTSE4Good) http://www.ftse4good.com/ – Domini 400 Social Index (DSI) http://www.domini.com/ A History of Creating Innovative PartnershipsPage 10
  11. 11. Canada/GIMPA CSR Seminar Pressure: Consumers, Customers A History of Creating Innovative PartnershipsPage 11
  12. 12. Canada/GIMPA CSR SeminarSocial License  An emerging phenomena  In addition to more traditional state issues licenses and regulatory approvals  Based on the principle that communities and local interests have a valid role in determining whether or not a project will proceed  Communities have inserted themselves into the regulatory approval/permitting process and can easily disrupt operations that they disapprove of A History of Creating Innovative PartnershipsPage 12
  13. 13. Canada/GIMPA CSR SeminarWhy focus on social license Social Performance is key to Financial Performance “In a transparent, globalized world, economic performance, environmental performance and social performance hang together. Business is realizing that it has become an integral part of society and now has wide-ranging responsibilities… shareholder value and social responsibility support each other” Göran Lindahl, President and CEO Asea Brown Boveri (ABB) “Our commitment to community development “represent(s) an added cost, but is an essential investment in our future…(and) should help us to achieve greater profitability”. Jay Taylor (former) CEO Placer Dome “socialresponsibility is a matter of hard-headed business logic” John Browne, CEO British Petroleum A History of Creating Innovative PartnershipsPage 13
  14. 14. Canada/GIMPA CSR SeminarWhy focus on social performance “Seven of the top ten U.S. home improvement retailers, including Home Depot, have issued restrictive lumber buying policies in the wake of an aggressive campaign by environmentalists While industry is still sorting exactly what this means, there is no doubt that it threatens a significant share of the traditional market for BC forest products.” Globe and Mail – Aug 25, 2000 “socialresponsibility is a matter of hard- headed business logic” John Browne, CEO British Petroleum A History of Creating Innovative PartnershipsPage 14
  15. 15. Canada/GIMPA CSR Seminar Some CSR Examples Placer Dome Care Project – South Africa, Mozambique, Botswana, Lesotho and Swaziland – Poverty alleviation – Community health – Capacity development – HIV/AIDS A History of Creating Innovative PartnershipsPage 15
  16. 16. Canada/GIMPA CSR SeminarCSR Examples Local Economic Development in Porgera Valley  Papua New Guinea  Systematic look at sustainable communities  Alternative economic livelihoods  Attracting national and international development stakeholders A History of Creating Innovative PartnershipsPage 16
  17. 17. Canada/GIMPA CSR SeminarMDGs and Social License Millennium Development Goals Social License 1) Eradicate extreme poverty and hunger a 2) Achieve universal primary education a 3) Promote gender equality and empower women a 4) Reduce child mortality a 5) Improve maternal health a 6) Combat HIV/AIDS, malaria and other diseases a 7) Ensure environmental sustainability a 8) Develop a global partnership for development a A History of Creating Innovative PartnershipsPage 17
  18. 18. Canada/GIMPA CSR SeminarChanging Roles and Responsibilities Business – Traditional  Make profit  Pay taxes  Obey all laws  Deal directly with government of permitting and regulatory issues  Self contained projects with impacts isolated geographically  Internal decision making processes  Responsible to shareholders only A History of Creating Innovative PartnershipsPage 18
  19. 19. Canada/GIMPA CSR SeminarChanging Roles and Responsibilities Business - New  Triple bottom line (financial, social and environmental performance)  Support sustainable development  Deal with a variety of stakeholders  Inter-connected projects with global markets and impacts  Transparent decision making processes  Management of Reputational Capital A History of Creating Innovative PartnershipsPage 19
  20. 20. Canada/GIMPA CSR SeminarSummary  Define CSR and Social Investment;  Discuss rationale and driving forces for CSR and social investment;  Develop understanding of relevance of CSR to business community;  Brief description of two case studies A History of Creating Innovative PartnershipsPage 20
  21. 21. Canada/GIMPA CSR SeminarQuestion and Answer Wayne Dunn wayne@waynedunn.com A History of Creating Innovative PartnershipsPage 21

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