ABOUT CSR

One of the most important values amongst corporations is its good reputation. CSR projects and activities can bring along not only a good reputation, but many other benefits to a corporation. Corporate engagement to social issues does not have to be restricted to charity only. By its sensible and reasonable approach and behaviour, a corporation can and does protect and maximize its key company values such as human resources, a good reputation, the position on the market, consumers perception , etc. Corporate social responsibility (CSR) is about how businesses align their values and behaviour with the expectations and needs of stakeholders - not just customers and investors, but also employees, suppliers, communities, regulators, special interest groups and society as a whole. CSR describes a company's commitment to be accountable to its stakeholders.

CSR concept was used for the first time by an American economist Howard Bowen in 1953. During last 5 decades CSR has become an important and discussed instrument controlling how a corporation is treating its employees, environment and the society itself. During the time, Corporate Social Responsibility not only got into the strategies of the companies but also into the agenda of the European Union. UN Global Compact is emphasizing implementation of ten basic principles into business all around the world in the following areas:

Human Rights:

No. 1: Businesses should support and respect the protection of internationally proclaimed human rights (including the right to an education, to healthcare etc) No. 2: make sure that they are not complicit in human rights abuses.

Labour Standards:
No. 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining. No. 4: the elimination of all forms of forced and compulsory labour. No. 5: the effective abolition of child labour. No. 6: the elimination of discrimination (such as race, colour, sex, religion, political opinion, national extraction or social origin) in respect of employment and occupation.

Environment:

No. 7: Businesses should support a precautionary approach to environmental challenges. No. 8: undertake initiatives to promote greater environmental responsibility. No. 9: encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption:
No. 10: Businesses should work against corruption in all its forms, including extortion and bribery.

3 PILLARS OF CSR
The triple bottom line (TBL) The idea that the overall performance of a company should be based on its combined contribution to economic prosperity, environmental quality and social capital . TBL focuses corporations not just on the economic value they add, but also on the environmental and social value they ad d - and destroy. At its narrowest, the term 'triple bottom line' is used as a framework for measuring and reporting corporate performance against economic, social and environmental parameters. At its broadest, the term is used to capture the whole set of v alues, issues and processes that companies must address in order to minimize any harm resulting from their activities and to create economic, social and environmental value. Socially responsible company is shifting the view on own social role, from profit only to the wider context of three Ps People, Planet, Profit. Such a company focus not only on the economic growth, but also on environmental and social issues and takes needs of internal and external environment into account.

The CSR concept includes 3 dimensions of activities, 3 Ps : Profit / Economic Area People / Social Area Planet / Environmental Area

Economic Area

Ethical codex | Codex of corporate behaviour Transparency Rejection of corruption Quality and safety of products and services Marketing and advertising ethics Relationship with customers Relationship with suppliers, partners, investors etc.

Social Area
Health and safety of employees Human resource development Work-life balance Equal opportunities (for men and women and other disadvantaged groups) Variety on a work place ( ethnical minorities, handicapped and elderly people) Corporate philanthropy Employee engagement and voluntarism Social integration Life quality of citizens Local infrastructure development

Environmental Area
Ecological production, products and services (ISO standards) Ecological corporate policies (recycling, use of ecological products) Lowering an impact on the environment Preservation of natural resources.

BASIC CHARACTERISTICS OF CSR

THREE P - PROFIT, PEOPLE, PLANET Economic behaviour, social development, and environment preservation Optional - Socially responsible company does the CSR activities beyond the terms of legal obligations set by law Long-term - goals of socially responsible company are long-term oriented Openness - CSR is not possible to specify precisely, there are no limits, no bounds and standards

ISO 26000:2010

ISO 26000:2010 provides guidance rather than requirements, so it cannot be certified to unlike some other well-known ISO standards. Instead, it helps clarify what social responsibility is, helps businesses and organizations translate principles into effective actions and shares best practices relating to social responsibility, globally. It is aimed at all types of organizations regardless of their activity, size or location. The standard was launched in 2010 following five years of negotiations between many different stakeholders across the world. Representatives from government, NGOs, industry, consumer groups and labour organizations around the world were involved in its development, which means it represents an international consensus.