Corporate Social Responsibility of the Financial Sector - Strengths, Weaknesses and the Impact on Sustainable Development

2012 ◽  
Vol 22 (5) ◽  
pp. 321-335 ◽  
Author(s):  
Olaf Weber ◽  
Michael Diaz ◽  
Regina Schwegler
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Sector ◽  
Corporate Social ◽  
The Impact

scholarly journals The Environmental Aspect in the Concept of Corporate Social Responsibility in the Energy Industry and Sustainable Development of the Economy

Energies ◽  
2021 ◽  
Vol 14 (18) ◽  
pp. 5993
Author(s):  
Katarzyna Huk ◽  
Mateusz Kurowski
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Negative Impact ◽  
Iso 14001 ◽  
Energy Industry ◽  
Environmental Aspect ◽  
The World ◽  
Corporate Social ◽  
The Impact

Sustainable development is now an important direction for the further development of all economies in the world. It is important to balance economic development with the impact on the environment and our planet. Another direction in the development of management sciences is the emergence of the concept of Corporate Social Responsibility, which considers this impact in three key aspects—economic, environmental and social—in terms of microeconomics. This concept gives companies specific guidelines and tools that minimize their negative impact on the environment. Reducing the negative impact of companies influences the environment and this is what is mainly associated with them. However, companies should also pay attention to internal consistency and caring for employees. Company practices such as the exploitation of people, including children, and injustice in the workplace are some of the factors that can be observed in less developed countries. The article focuses on the presentation of the environmental aspect in the context of the concept of corporate social responsibility. We analyzed individual sectors of the economy in terms of the environmental aspect, with particular emphasis on the energy industry. The study is based on a statistical analysis taking into account data from 1718 companies from all over the world. The aim of the article is to present the environmental aspect in the context of corporate social responsibility in the energy industry as a direction for sustainable development of the economy. The article is based on the analysis of the literature and databases presenting CSR, which was created on the basis of questionnaire research. The article shows which regions of the world are worse and which are better in terms of the environmental aspects of CSR. Conclusions on the main CSR guidelines for the environment are also presented. We analyzed factors such as environmental routines, policies and targets, implementation of environmental management systems, ISO 14001/EMAS certification, environmental reporting, environmental requirements inside the supply chain, the trend of GHG emissions and the trend of energy consumption for their environmental impact. The analysis was carried out on the basis of given regions of the world and individual sectors of the economy, especially the energy industry.

scholarly journals Impact of Corporate Social Responsibility Implementation in Jordanian Public Shareholding Companies on Sustainable Development

2017 ◽  
Vol 13 (2) ◽  
pp. 94 ◽  
Author(s):  
Ismail Al-Zyoud
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Analytical Methodology ◽  
Study Results ◽  
Level Of Significance ◽  
Corporate Social Responsibility Implementation ◽  
Corporate Social ◽  
The Impact

The study aimed to investigate the impact of corporate social responsibility implementation in Jordanian public shareholding companies on sustainable development. The study used descriptive analytical methodology. A questionnaire was designed and distribute over a sample consisting of 135 reponsedents, 125 were collected and 5 questionnaires were removed. The study results indicated that there a statistically significant impact at the level of significance (α≤0.05) of social responsibility in Jordanian public shareholding companies on sustainable development. It also indicated that there is a statistically significant impact at the level of significance (α≤0.05) of economic, legal, ethical and philanthropic responsibility in Jordanian public shareholding companies on sustainable development. The study recommended a set of recommendations.

scholarly journals Corporate social responsibility of financial sector institutions in the light of sustainable development goals financing: the role of banks and stock exchanges

2018 ◽  
Vol 7 (3) ◽  
pp. 1-14 ◽  
Author(s):  
Inna Makarenko ◽  
Yulia Yelnikova ◽  
Anna Lasukova ◽  
Abdul Rahman Barhaq
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Sustainable Development Goals ◽  
Sustainability Reporting ◽  
Financial Sector ◽  
Stock Exchanges ◽  
Development Goals ◽  
Corporate Social

Significant gap in investment resources for financing Sustainable Development Goals can be overcome with the revitalization of the corporate social responsibility mechanism of the financial sector institutions, for example banks and stock exchanges as the largest players in the global financial sector. The most relevant for them are Goals 1, 5, 8, 10, 13, 17. Incorporating these goals into activities of the financial sector institutions requires not only the activation of their CSR mechanism in the directions indicated by the targets, but also the radical restructuring of all business processes and the reorientation of their overall sustainability strategy. Analysis of current sustainability reporting disclosure by financial sector institutions in global and regional aspects was conducted. Based on the analysis, the authors define the role of CSRs of banks and stock exchanges in SDG financing as follows: banks – ensuring their own sustainability and efficiency through CSR mechanisms, formation of new tools, methods and technologies of financial support of SDG; stock exchanges – minimization of information asymmetry in investor decision making, taking into consideration ESG criteria, formation of exemplary disclosure practices and new markets and market benchmarks by listing companies.

scholarly journals Interrelation between the Choice of Investment Trend and Subsequent Economic Results and Strategy of Sustainable Development in Organization

2021 ◽  
pp. 56-65
Author(s):  
E. U. Ganshina ◽  
I. L. Smirnova ◽  
S P. Ivanova
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Investment Projects ◽  
Industrial Organizations ◽  
Innovation Model ◽  
Corporate Social ◽  
Technological Opportunities ◽  
The Impact

The topic of making investment and choosing the most effective trends of investing money is becoming more acute for today’s organizations due to numerous crisis economic events and accompanying difficulties with capital reproduction. In researching options of investment special attention is paid to strategic aspects of alternative financial and technological opportunities of putting in resources and forecasting the horizon of recovery of the investment. Apart from this, the research interest is aroused by the impact of basic lines of enterprises’ investment on the level of their economic results together with trends of providing long-term sustainable development. The authors analyzed cases of the biggest Russian industrial organizations, identified correlation between investment flows within the frames of the organization and the effect of investment on the basis of consolidated accounting of these companies. The article analyzes some investment projects of the NMLK Group and the PAO Sibur, for instance, introduction of innovation model of making forecast concerning breaking-down of critical equipment and the system of corporate social responsibility. The authors made recommendations on prioritization of aspects of socially important trends of investment for today’s big companies, which could lead to raising efficiency of organizations’ work and thus to principles of sustainable development

scholarly journals Landmarks of Corporate Social Responsibilities in Romania

2014 ◽  
Vol 26 ◽  
pp. 53-62
Author(s):  
Mirela Teodorescu
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Community Involvement ◽  
Local Level ◽  
Corporate Identity ◽  
Commercial Success ◽  
Corporate Social ◽  
The Impact ◽  
A Company

Currently, the image of a company, its corporate identity and culture have become of fundamental importance. Involvement in the community is necessary for a company that wants to ensure not only commercial success but also the respect in which society operates. Donations, sponsorship and corporate social responsibility are forms that companies can interact with the community in which it operates. The difference between a company's social responsibility and philanthropy is that the former involves the development of a strategy for community involvement and partnerships in which the company has in turn gain, while in the case of philanthropy, NGO strategy is oriented towards solving the problems of beneficiaries. Corporate Social Responsibility is a concept increasingly more present in Romanian business society. Obviously, the main driver in this process have established multinationals that have done a transfer of organizational culture locally. Like almost every important concept, undergo accelerated assimilation needs, has become more like a fashion initially, than as a result of full awareness of the needs. As expected in an economic and social framework rather immature and unstable social responsibility in Romania was valued more for its commercial valences than the ethical. In a market that was becoming increasingly competitive, players quickly discovered the potential of this dimension in the construction process of the image and reputation building, as the prerequisite for commercial success in the short and medium term (Hawkins, 2006). I want to emphasize from the outset that, the complexity of processes and phenomena referred to, the impact they have on the living standards and health of the population, Sectoral Strategies for Sustainable Development, which will be launched today, concern equally to state authorities at central and local level, and each of Romanian citizens. Therefore, it is natural to train as many social partners in public debates on sectoral strategies launched during the session, so that they integrate with society's expectations Romanian, medium and long term, says President Ion Iliescu in opening allocution of First Session on Strategy of Sustainable Development of Romania “Horizon 2025” (Ion Iliescu, 2004).

scholarly journals Forming Social Responsibility of Agricultural Enterprises in the Conditions of Sustainable Development

2020 ◽  
Vol 4 (46) ◽  
pp. 195-200
Author(s):  
M. V. Polenkova ◽  
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Rural Areas ◽  
Business And Society ◽  
Agricultural Enterprises ◽  
Wide Range ◽  
Corporate Social ◽  
The Impact ◽  
Collective Farms

The article substantiates the necessity to introduce modern mechanisms of interaction between the state and business, and between business and society as well in order to ensure sustainable economic growth in Ukraine. Today agricultural enterprises more and more often appear under pressure to solve social problems, realize the harm they do to the environment in their supply chains, and need to find ways to solve critical socio-economic and environmental challenges set in accordance with the goals of sustainable development. The evolution of schools of thought developing the concept of corporate social responsibility is studied, as well as those of the economic system and industrial transformations, which were actively developing in the twentieth century society. It has been found out that the impact of social responsibility on the welfare of the population was considered through the prism of three areas: business ethics, business and society, and social aspects of management. It is substantiated that corporate social responsibility is an umbrella term for various theories and practices, admitting that corporations are responsible for their impact on society and the environment, sometimes even beyond compliance with the law and the responsibility of individuals; companies are responsible for the behavior of others with whom they do business (for example, suppliers in the supply chain); companies should handle their relationships with society at large. The peculiarities of the approaches of large farms (collective farms) to the socio-economic development of rural areas in the planned economy in Soviet times are outlined. It has been found out that collective farms provided a wide range of support to rural communities and household plot owners, namely, by providing the following: full employment, rural social infrastructure, resources and services on homesteads. The peculiarities of European approaches to the development of social responsibility have been studied. The relationship between the social responsibility of agricultural enterprises and the revival of rural areas has been established.

Corporate social responsibility (CSR) practices in Islamic banks of Bangladesh

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Md. Anowar Hossain Bhuiyan ◽  
Md. Abud Darda ◽  
Md. Belal Hossain
Keyword(s):  
Sustainable Development ◽  
Factor Analysis ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Well Being ◽  
Islamic Banks ◽  
Content Type ◽  
Arts And Culture ◽  
Corporate Social ◽  
The Impact

Purpose Corporate social responsibility (CSR) influences an organization in deciding its ethical approaches in the corporate practices and also important to maintain sustainable development. Islamic banks are capturing almost 40% of the total bank account holders in Bangladesh and contributing to the socio-economic and environmental development of the country through their CSR activities. The purpose of this paper is to investigate the impacts of CSR activities of Islamic banks for sustainable development in Bangladesh from the perception of the beneficiaries. Design/methodology/approach This study is based on a questionnaire survey of 200 conveniently selected beneficiaries from five purposively selected Islamic banks in Bangladesh. Respondents’ agreement score for various CSR-related activities has been observed in a five-point Likert scale and, finally, to identify the impact of CSR, exploratory factor analysis has been done. Findings Results revealed that respondents are expressing strong agreement for almost all the activities, and they are much satisfied with ongoing CSR activities by Islamic banks, which implies positive attitudes of beneficiaries regarding CSR activities. The results of factor analysis further confirm the perception of respondents toward CSR activities of Islamic banks in terms of social enhancement, education and health, socio-economic well-being and contemporary arts and culture. Originality/value The Islamic banks should enhance their CSR activities for socio-economic development, provide more allocation in education programs, increase sponsorship in sports events and assist in flourishing Bangladeshi arts and culture.

scholarly journals The Impact of perceived Corporate Social Responsibility (CSR) on Job Attitude and Performance of Internal Stakeholders

2012 ◽  
Vol 2 (4) ◽  
pp. 77 ◽  
Author(s):  
Nadeem Iqbal ◽  
Naveed Ahmad ◽  
Muhammad Sheeraz ◽  
Noman Ahmad Bashir
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Image ◽  
Attitudes And Behaviors ◽  
And Behaviors ◽  
Job Attitude ◽  
And Performance ◽  
Corporate Social ◽  
The Impact

Corporate social responsibility (CSR) has grown rapidly during last decade. Trend is showing that there is a significant increase of society’s overall concern about sustainable development with the aid of corporate social responsibility. The concept of sustainable development is gaining importance not only in scientific literature but also in board of governors room (BOG) of firms.   Past researches have  investigated the impact of CSR on employees but have been mostly focused on the analysis of the ‘external’ impact of CSR, considering the likely influence of CSR on prospective (rather than actual) employees, via mechanisms such as corporate image or corporate reputation (Blackhaus Stone and Heiner, 2002; Turban & Greening, 1997). The results of this study show that CSR has a significant effect on employees work attitudes and behaviors. CSR may possibly improve employees' attitudes and behaviors, contribute to corporations' achievement, and achieve a win-win state of affairs. Therefore, corporations should attach importance to CSR practice so as to benefit employees.   Keywords: Sustainability, Corporate Social Responsibility, Employees, Job Attitude, Job Performance 

Sign in / Sign up

Export Citation Format

Share Document