Corporate social responsibility is a form of

corporate self-regulation integrated into a business model. CSR Corporate policy functions as a built-in, selfregulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms.

 "Corporate Social Responsibility 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 as of the local community and society at large - The World Business Council for Sustainable Development

Group Trade, investment and linkages Employmen t creation and labor practices

Indicator Total revenues value of imports vs. exports total new investments local purchasing

Total workforce with breakdown by employment type, employment contract and gender Total number and rate of employee turnover broken down by gender percentage of employees covered by collective agreements

Technology and Expenditure on research and development human resource Average hours of training per year per employee broken down development by employee category Expenditure on employee training per year per employee broken down by employee category

Health and safety Cost of employee health and safety Work days lost due to occupational accidents , injuries and illness Government and community contributions Corruption Payment of government Voluntary contributions to civil society

Number of convictions for violations of corruption related laws or regulations amount of fines paid/payable

 Trade, investment and linkages it provides to local

resources Development of technology and human resource development Health and safety concern of the entity Payment to the government in the for of tax and contribution to the development activities of the community ployment creation and labour practices followed

CSR and Sustainable Development

The term Sustainable development was used for the first time at the United Nations Conference in 1972. Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own need.

It consists of three components:

Environmental

Sustainable Reporting
A sustainability report is an organizational report that gives information about economic, environmental, social and governance performance

IT has gained importance because of growing investor pressure, customers interest and competitive labour markets.
The ACCA [Association of chartered Certified Accountants] awards schemes or rankings to the company based on the sustainable report. The prominent reporting standards are AA1000, GRI [Global reporting Initiative] and ISO14000 Indian companies largely use GRI guidelines while reporting

SUSTAINABILITY REPORTING (MEANING)

The concept of sustainability reporting is of recent origin. Sustainability reporting is the practice of measuring , disclosing and being accountable to internal and external stakeholders for organizational performance towards the goal of sustainable development. Sustainability reporting is a broad term considered synonymous with others to describe reporting on economic, environmental and social impact. A sustainable report should provide a balanced and reasonable representation of the sustainability performance of a organization. Sustainability reporting is therefore a vital step for managing change towards a sustainable global economy

1. 2. 3. 4. 5. 6.

7.

Enhancing Reputation Creating Financial Value Demonstrating Transparency Achieving Continuous Improvement Improving Regulatory Compliance Strengthening Risk Awareness and Management Encouraging Innovation

8. Enhancing Management System and Decision making 9. Raising Awareness, Motivating and Aligning Staff and Attracting Talent 10. Attracting Long term Capital and Favorable Financing Condition 11. Permission to Operate 12. Establishing Competitive Positioning and Market Differentiation

Standard Chartered was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa, founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853.Both companies were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods between Europe, Asia and Africa. Sustainability agenda at Standard Chartered, takes into account the fundamental task of reestablishing confidence and trust in banks whilst continuing to maintain an unwavering focus on addressing the longer term challenges that world faces. Approach to sustainability, adopted by Standard Chartered focuses both on continuing to manage their core banking practices responsibly and on the seven specific areas which have been at the heart of their sustainability strategy for some year. They have focused on areas that integrate with their business strategy, based on three criteria: Relevance to markets Best use of capabilities and infrastructure to maximize contribution Distinctive value for business and the nations In 2008 The Bank has received Sustainable Bank of the Year Award. The sustainability reporting of Standard Chartered Bank shows how it is working for the benefits of the people with the economic, social and other welfare activities. Their activities include contributing to real economy, Promoting sustainable finance, Protecting environment, Empowering girls through various programme, Educating people about various diseases, Seeing is believing etc.Through their sustainability reporting they also let the people know about their working pattern and transparency in their business functioning.

Standard Chartered was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa, founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853.Both companies were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods between Europe, Asia and Africa. Sustainability agenda at Standard Chartered, takes into account the fundamental task of re-establishing confidence and trust in banks whilst continuing to maintain an unwavering focus on addressing the longer term challenges that world faces. Approach to sustainability, adopted by Standard Chartered focuses both on continuing to manage their core banking practices responsibly and on the seven specific areas which have been at the heart of their sustainability strategy for some year. They have focused on areas that integrate with their business strategy, based on three criteria: Relevance to markets Best use of capabilities and infrastructure to maximize contribution Distinctive value for business and the nations In 2008 The Bank has received Sustainable Bank of the Year Award. The sustainability reporting of Standard Chartered Bank shows how it is working for the benefits of the people with the economic, social and other welfare activities. Their activities include contributing to real economy, Promoting sustainable

Sustainability Strategy at Standard Chartered Bank

They have identified seven priorities to meet sustainability strategy 1. Protecting the environment: Reducing their environmental impact and helping others to do the same 2. Sustainable finance : Addressing the environmental, social and governance risks and opportunities involved in doing business with their customers 3. Access to financial services : Making finance more accessible to people excluded from formal banking services 4. Tackling financial crime : Detecting and preventing activities such as fraud and money laundering, corruption and crime 5. Responsible selling and marketing : Treating customers fairly through the highest levels of service, transparency and responsible banking practices 6. Great place to work : Attracting, developing and retaining the best talent by making employees feel valued, included and engaged 7. Community investment : Using their expertise and resources to help communities develop and economies g laundering, corruption and terrorist financing

Become proactive than reactive. Shaping the future of Standard Chartered. Open and maintain dialogues with stakeholder. Prioritize initiatives with performance indicators targets and

goal.
Communicate Internally and Externally. Innovate and Collaborate to meet the toughest challenges. New annual report.

 Consumers have become more and more conscious of CSR. In

some of the developed countries like UK, consumers look at Triple Bottom Line Valuation of the companies before choosing the products. This has led to more business for a socially responsible corporate. CSR companies create a good image and improved perception. Investors have better confidence in such companies which value ethics and show concern for the social good.

 CSR is a long term investment. The fruits of such practices

accrue slowly but surely as per the empirical studies. This in turn leads to improved demand for shares of such companies . In India, for instance, the shares of Tata Group and those of Birla Group companies command better valuation because of the CSR and ethical concerns of these companies. This sufficiently proves that such practices are well received by the community at large and valuation gets enhanced due to such perceptions.

The Triple bottom line is abbreviated as TBL or 3BL, and also known as people, planet, profit or the three pillars. The phrase was coined by John Elkington in his 1997 book Cannibals with Forks: the Triple Bottom Line of 21st Century Business. In practical terms, triple bottom line accounting means expanding the traditional reporting framework to take into account ecological and social performance in addition to financial performance. It captures an expanded spectrum of values and criteria for measuring organizational (and societal) success: economic, ecological, and social.

 1. PEOPLE

It is also known as human capital "People" pertains to fair and beneficial business practices

toward labour and the community and region in which a corporation conducts its business. A TBL company conceives a reciprocal social structure in which the well-being of corporate, labour and other stakeholder interests are interdependent. A triple bottom line enterprise seeks to benefit many constituencies, not exploit or endanger any group of them.

 It is also know as NATURAL CAPITAL. A TBL company refers to sustainable environmental practices. A TBL attempts to reduce its ecological footprint in following

ways: 1)Carefully managing its consumption of energy and non renewable. 2)Reduce manufacturing waste. 3)Rendering waste toxic before disposing it in a safe manner. 4)A TBL company does not produce harmful products. 5)Ecological destructive practices is avoided by TBL company.

 Long term profitability. Strong relationship with people and commitment to

improve planet.
Offers eco friendly products.

1 Adapting to new business sectors:

since many business opportunities are developing in the realm of social entrepreneurialism,business hoping to reach this expanding market must design themselves to be finacially profitable and socially benificial .

Division of labour :
It is characteristic of rich societies and a major contributor to their wealth . This leads to the view that organizations contribute most to the welfare of the society in all respects when they focus on what they do best.

Effectiveness :
support for the concept of the triple bottom line itself is said to be an example of the choices available to the citizens of a society made wealthy by businesses attending to business

Nationalism :
few countries adopt the view that they must look after their own citizens first. This view is not confined to one sector of society ,having support from elements of business, labour unions and politicians.s

Inertia :
the difficulty of achieving global agreement on simultaneous policy may render such measures at best advisory, and thus unenforceable.

Application :
one of the major weaknesses of TBL framework is its ability to be applied in a monetarybased economic system. Because there is no single way in monetary terms to measure the benefits to the society and environment as there is with profits, it does not allow business to sum across all three bottom lines.

Criticism from the left :

TBL is viewed as an attempt by otherwise exploitive corporations to avoid legislation as taxation and generate a fictitious people-friendly image for pr purpose.

 If you are not sensitive and responsible to the society you operate in, you

would be soon out of the business is the message from Indira Nooyi, CEO ad president of PepsiCo.
Thus, increasingly organizations around the world are recognizing the

value of demonstrating transparency and accountability beyond the traditional domain of financial performance.
This trend has come about through increased public expectations from the

organizations to take responsibility for the non financial impacts of its activities.