Newsletter | Volume 1

Providing Corporate Social Responsibility (CSR) to the society, means to make a documented effort and promise to improve Governance, Risk Management and Compliance (GRC) defaults in the organisation and to do more than what it is expected of responsible companies for all stakeholders.

Nordic companies are often considered best in class. However, many businesses have faced criticism for adverse environmental impacts, destruction of ecosystems, poor working conditions and child labour among subcontractors and corruption. However they assess most CSR issues as part of their business strategy, operations and relationship with their stakeholders.

The annual reports from companies are now so much more than just numbers and statistics. All companies are required to include qualified and documented data on diversity, equality, health, environment, safety and working conditions.

Responsible companies are looking for stakeholder trust and confidence also report on how they tackle their CSR/ESG responsibilities. Here management explains how they integrate the consideration of community into their business strategies, daily operations and relationship with stakeholders.

Irresponsible companies, on the other hand, try to get away by simply talking about principles and guidelines on how they have implemented CSR in the organisation. However, if the further illustrate how the theory, principles and guidelines are put into practice, management has the achieved what stakeholders expect from them in the future.

Media criticism for irresponsible CSR behavior
While in the past corporate offenders gave lip service to CSR actions, most global companies are now keen to act responsibly and even go further document the sustainability components of CSR are seen as marketing tools.

Stakeholders want to trust the corporate reports and wish that companies have a plan on how to address media criticism for irresponsible behavior and other claims for not acting irresponsibly in various CSR areas.

The Copenhagen Compliance G.R.A.S.P./CSR framework is based on the stages of corporate social responsiveness . The simple GRASP CSR strategy can help companies to utilise the CSR components for competitive advantages.

Governance. Establish the CSR policies, and its continuous monitoring of their implementation to enhance the prosperity and viability of corporate society.
Response. The company explains and reviews CSR aims and goals in its non-financial reporting.
Acceptance. Recognise the CSR responsibilities and accept criticism and promises to improve if met by disapproval.
Safeguard. The company defends itself against future defaults and/or criticism.
Proactive. Based on the enterprise CSR strategies to improve beyond what is expected.

At the 9th annual European GRC Summit at the World Trade Center on the 22-23rd September 2015, Mr. Jeffrey Avina will provide practical tips for managers and employees who handle reporting on CSR activities.

Be transparent and accountable on CSR challenges and the global dilemma.
Communicate the positive and negative CSR experiences within the organization.
Stick to a precise and accurate CSR strategy and develop it for future improvement.

Management must accept that it may be difficult to behave in a socially responsible manner in all situations and at all times in this globalized world of third party engagement and involvement in global businesses. However, if management is open on the CSR dilemmas and shows a willingness to do more than just write on the merits of CSR on the glossy paper of the annual report, you are in the right direction.

HOW TO ADDRESS THE GLOBAL CSR, GOVERNANCE, COMPLIANCE AND ACCOUNTABILITY ISSUES
What are the biggest challenges that affect the business environment and the business enabling environment in MEA?

A review of key challenges that face Companies operating in the region and advances that have been occurring to improve good governance on the public sector side which can build a better enabling environment for existing and potential investors.
A highlight of some of the better cases in the MEA region in this regard, including countries affected by the Arab Spring

Jeffrey Avina, LLM, Citizenship and Community Affairs Middle East and Africa, Microsoft

http://www.copenhagencompliance.com/2015/stockholm/register.htm