Corporate Social Responsibility Forum - part of The Prince of Wales International Business Leaders Forum - www.iblf.org has drawn up a list of key themes in CSR, which have been reproduced below.
Business and venture philanthropy
Venture philanthropy is a new form of charitable giving that has caused great interest mainly, although not solely, in the United States. At an early stage of development and based on well established venture capitalist principles, it has the potential to revolutionise social practice. However, present developments suggest that venture philanthropy has some way to go before it becomes viable, complementing other more old-fashioned forms of charitable giving.
Business and human rights
As the influence of multinational corporations expands globally, pressure from media, consumer activists, pressure groups and ethical shareholder requirements is forcing the corporate sector to demonstrate responsible behaviour towards their workers, host communities and societies at large. Ensuring human rights are respected has become a key component of this pressure. In response, codes of conduct and voluntary standards have been set up, but are unlikely at present to be followed by legislation.
Business and corporate governance
Corporations increasingly realise that adopting suitable corporate governance standards are a condition for ensuring investor confidence and access to capital. At the same time, the parameters of corporate governance are being redefined, as a result of both stakeholder and shareholder demands for corporations to address wider societal concerns. Some argue, therefore, that it would make sense to intertwine the two. In practice this raises major complexities and trade-offs.
Business and micropower
The growing demand for electricity in developed and developing countries, is generating research into the commercial potential of renewable and decentralised forms of energy. In turn, this is opening up opportunities for companies to diversify into "green" forms of energy, which can enhance both profits and reputations.
Socially responsible investment
Socially responsible investment is beginning to take a significant market share in some countries. Growing demand from pension scheme holders, in many countries, for social and environmental considerations to be taken into account, sometimes combined with regulatory regimes, means that the corporate sector may well have to amend some policies and practices.
Corruption
Corruption has become a major issue in the past decade for governments, the corporate sector and international organisations. Measures have been taken on an institutional, governmental and corporate basis to address the problem, but they are unlikely to prove effective until a more systematic approach is agreed and enforced.
Business innovations and health dividends
The diversity and deterioration of health standards and capacities world-wide, and the inability of the public sector alone to address them, has brought the role of business into focus. Globalisation, in particular, has created new challenges, risks and roles for business in addressing the health of its various stakeholders. Corporates have therefore begun to engage in a limited way with health issues in partnership with both public and non-governmental sectors.
International trade and the political divide
The World Trade Organisation's Third Ministerial Conference in Seattle in 1999 was the first occasion at which growing and increasingly vocal criticism of the multinational trading system became fully apparent. Whether this is something that the WTO should concern itself with is moot, but for international trade to be successful, some general understanding of and compromise on the different positions is needed. Continued protests at events since then demonstrate that the polarization of views has not gone away, and that the disparate and disorganised groups present in Seattle have been joined by well-established, powerful international campaigning organisations such as Greenpeace and Friends of the Earth. The Doha and Cancun conferences (in 2001 and 2003 respectively) failed to make significant progress on reconciling the different perspectives of developed and developing countries, and continued to emphasise the importance of multinational corporations in the ongoing debate about sustainable development.
The digital divide
The move towards a knowledge-based economy at the national and global level threatens to widen the existing income disparity between those with access to information technology and those without. In both cases, well co-ordinated public-private partnerships, flexible to local conditions, are crucial if the internet is not to further marginalise some groups in society.
Changing responsibilities of the private sector in emerging markets
Globalisation, economic liberalisation, political transition and technological transformation are creating rapid and fundamental changes in society. Business has emerged as a principal engine of growth in the new world order and, as the roles and responsibilities of the state, civil society and the private sector shift, so to do expectations of business behaviour. In emerging and transitional economies, in particular, business faces rapidly evolving demands from an ever-widening array of stakeholders.
