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The Codes and Standards On CSR: (Type Text)

it is a document for the sharpness about csr i.e corporate social responsibility. so you can copy paste it as it is as assignment

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2K views5 pages

The Codes and Standards On CSR: (Type Text)

it is a document for the sharpness about csr i.e corporate social responsibility. so you can copy paste it as it is as assignment

Uploaded by

piyush raj
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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The Codes and Standards on CSR

[Type text]
The Codes and Standards on CSR
One of the significant advances in the management of business during the last three decades has been the widespread
adoption of corporate codes of conduct. The importance of these codes cannot be overstated. By writing, publishing, and
publicly sharing a business’s code of conduct, companies put themselves on record regarding the ethical standards to which
they adhere and which apply to all members of a company. These codes help promote transparency, consistency, and
impartiality, which benefits not only employees, but also investors, and all of a company’s stakeholders. Moreover, codes of
conduct often support the development of more secure workplace environments because not only do they constitute a
company’s public commitment to high ethical standards, but they may reduce the risk of retaliation against whistle blowers by
putting a company’s ethical commitment on record.

A comprehensive guidance is available to companies in the form of various globally recognized codes and standards. These are voluntary in
nature. These focus on suitability and labour rights, human rights, community relations, stakeholder engagement and other related issues. Some
of the important codes are given below:-

1. Social responsibility: social responsibility means responsibility of an organization to meet the society’s expectation on economic as well
as social fronts. It means that the company should act in a manner which will serve in the best interests of the society.
2. Seven principles of social responsibility :
1. Accountability: The organization is encouraged to be responsible for its actions and decisions and set out policies which are
easier to influence their behavior in a natural way.
2. Transparency: Make information available to stakeholders’ transparency promotes trust.
3. Ethical behavior: Ethics involves doing the right thing.
4. Respect of stakeholders’ interest: This includes customers, shareholders, the community, suppliers, people working in the
business and the public.
5. Respect for the rule of law: Every organization should show respect for and work within the rule of law at a local, regional,
national or international basis.
6. Respect for international norms of behavior: There are norms of behavior across the world, but also a lot of regional variations.
Every organization should be compliant with and make allowances for such norms and variations.
7. Respect for human rights: This is easy to apply. No organization needs to make progress by exploiting people.

By: PIYUSH RAJ


Roll no. - 1457
Section- B
3. ISO 26000:
ISO 26000 is the international standard developed to help organizations effectively assess and address those social responsibilities that
are relevant and significant to their mission and vision ; operation and processes ; customers , employees , communities , and other
shareholders and environmental impact.
4. Importance of ISO 26000:
 The ISO 26000 standard provides guidance on seven key underlying principles of social responsibility. Accountability ,
Transparency , Ethical behavior , respect for the rule of law , respect for international norms of behavior , and respect for human
rights;
 Recognizing social responsibility and engaging shareholders; The seven core subjects and issue pertaining to social responsibility
are:- Organizational governance ,Human rights, labour practices, the environment , consumer issues etc.
 Suggesting ways to integrate socially responsible behavior into the organization.
5. Scope of ISO 26000. The scope of ISO 26000 includes the following:
 Assist organizations in addressing their social responsibilities while respecting cultural environmental and legal differences and
economic development conditions.
 Provide practical guidance related to making social responsibility operational.
 Assist with identifying and engaging with shareholders and enhancing credibility of reports and claims made about social
responsibility.
 Emphasize performance result and improvement.
 Increase confidence and satisfaction in organizations among their customers and shareholders.
 Achieve consistency with existing documents, international treaties and conventions , and existing ISO standards.
 Promote common terminology in the social responsibility field.
 Broaden awareness of social responsibility.

GRI is an independent international NOT FOR PROFIT organization which has developed guidelines for
sustainability reporting since 1997. The GRI Sustainability Reporting Standards are developed with true multi-
stakeholder contribution and rooted in the public interest.

GRI core products are the Sustainability Reporting Standards which are made available as free public goods. They
have been continuously developed over the last year and represent global best practice for reporting economic,
By: PIYUSH RAJ
Roll no. - 1457
Section- B
environmental and social issues. The reporting guidelines are designed to be used by organizations of any size,
sector or location.

GRI guidelines help business and governments worldwide to understand and communicate their impact on
critical sustainability issues such as climate change, human rights, governance, and social well- being.

Purpose of sustainable reporting. A sustainable report should provide a balanced and reasonable
representation of the sustainability performance of a reporting organization – including both private and positive
and negative contributions.

Importance of sustainable reporting. The practice of disclosing sustainability generates reliable,


relevant, and standardized information, ensures accountability, helps identify and manage risks. And enable
organization to assess new opportunities. Reporting with GRI Standards supports companies, public, private,
large, and small, protect all environments and improve society, while at the same time thriving economically by
improving governance and stakeholder relations, enhancing reputations and building trust.

Principles for sustainability reporting. The SRG lines consist of principles. These are divided into two groups

1. Principles for defining report content. It determines the process which should be applied to identify what
content the report should cover. This determination should be made by considering both the organizations
purpose and experience and the reasonable expectations and interest of the organizations stakeholders.

By: PIYUSH RAJ


Roll no. - 1457
Section- B
Principles for defining report quality. The Principle ensures the quality of reported information. Including its
proper presentation. The report should include both favorable and unfavorable results, as well as topics that can
influence the decision of stakeholders in relation to their materiality. Report should clearly distinguish between
factual presentation and their reporting interpretation of information.

By: PIYUSH RAJ


Roll no. - 1457
Section- B

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