CSR IMPACT ON ENVIRONMENT

 

CSR IMPACT ON ENVIRONMENT

Corporate Social Responsibility (CSR) is followed by organizations to continue their business activities in an ethical manner. Organizations can display social responsibility in various methods such as, donate funds for education, support underprivileged children, sponsorship for events and commitment to environment protection.

CSR has also been described by Husted and Salazar (2006) as being concerned with ‘the impact of business behavior on society’. CSR is a management concept whereby companies integrate social and environment concerns in their business operations and interaction with their stakeholders (United Nations Industrial Development Organization, 2019)

CSR and Environment

CSR is a wide range of actions and one prime focus of it is the environment. Environmental CSR focuses on minimizing any activities which damages the environment from business processes. Below mentioned activities are some significant actions practiced by organizations:

• Energy usage
• Water use
• Waste management
• Recycling activities
• Eco friendly work place
• Emission control

Green CSR activities reduce business risk, improve reputation and provide opportunities to reduce cost. Even the simplest energy efficiency measures can support to make a big difference in the organization. Caring on environment will increase revenue, since many customers prefer to buy from responsible companies.

In today’s social conscious environment, employees and customers place a premium on working for and spending their money with businesses that prioritize corporate social responsibility (Schooley, 2019)

Environmental CSR in Srilanka

Many organizations in Srilanka, consider their social, economical and environmental impact as part of their responsibility while at the same time generating profit. Recently, CSR has become as the most discussing topic in corporate sector. Due to country’s serious economic problems the people, employees, customers and other interested parties put pressure on the government sector to improve the people’s social and economic livelihoods (Tilakasiri, 2013).

In the view of environment we can see many organizations now practicing go green projects, energy saving activities and implementing recycling processes to support an environmental friendly business.

References

Husted, B W and Salazar, J (2006) Taking Friedman seriously: maximizing profi ts and social performance, Journal of Management Studies, 43 (1), pp 75–91

Schooley, S. (2019, April 22). Business News Daily . Retrieved October 01, 2019, from Business News Daily : https://www.businessnewsdaily.com/4679-corporate-social-responsibility.html

Tilakasiri, K. (2013, July). Corporate Social Responsibility and Social, Economic and Environmental Development in Sri Lanka. Corporate Social Responsibility and Social, Economic and Environmental Development in Sri Lanka .

United Nations Industrial Development Organization. (2019). Retrieved Oct 1, 2019, from UNIDO: https://www.unido.org/our-focus/advancing-economic-competitiveness/competitive-trade-capacities-and-corporate-responsibility/corporate-social-responsibility-market-integration/what-csr