Source: CSR asia, by Leena Wokeck lwokeck@csr-asia.com
June 29, 2011
A key issue for CSR is the question how we can ensure that businesses minimise detrimental impacts on communities and the environment. There is, however, a focus on the potential positive impacts of economic growth on development as well. Responsible business practices, corporate accountability, and transparency are also important for the potential of the private sector to proactively contribute to development goals and solutions to global sustainability challenges.
It is often argued that the private sector is the biggest alleviator of poverty. In Asia, the most striking example due to its sheer size and related impressive numbers is China, where hundreds of millions of people have been lifted out of poverty by massive inward investment. We have seen Chinese companies grow exponentially and not only invest vastly internally, but also rise to become globally operating multinational enterprises.
But such development – in China and elsewhere - has not always been positive: Fast growth has come with a sometimes very high environmental price tag of degrading ecosystems, depleting resources and pollution. The social consequences too are debatable: Poverty alleviation figures have only limited value as an indicator for sustainable development. Simply ensuring that the most basic needs are met is not enough. In addition, investment in developing countries does not always actually trickle down to local communities and in many of the fastest growing economies of Asia pockets of poverty and deprivation persist.
Read more: CSR Asia - Corporate Social Responsibility in Asia
