Enhancing Corporate Social Responsibility

Post-event Statement

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Purpose

To strengthen networking and improve synergy among selected Asian development institutes by enhancing their knowledge management and knowledge sharing strategies, and establishing a framework for collaboration in an area of CSR.

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Background

Globalization requires global responses and multilateral strategies involving cooperation among key actors and stakeholders. Public private partnership (PPP) has been recognized in sustainable development as a leading success factor towards sustainability and efficiency. A multi stakeholder approach to good governance and development encompasses corporate and social responsibility (CSR). Corporate Social Responsibility is defined by the World Bank as "the commitment of businesses to behave ethically and to contribute to sustainable economic development by working with all relevant stakeholders to improve their lives in ways that are good for business, the sustainable development agenda, and society at large". The debate around CSR is gaining full momentum and is increasingly relevant for economic development of the Asia-Pacific region.

The mission of the Asian Development Bank Institute is to build capacity of public officials in ADB’s developing member countries (DMC’s) to support long-term growth in the Asia-Pacific region. The aim of this seminar is to discuss current challenges and specific avenues for success of CSR in Asia. In order to further develop CSR in Asia, governments are strongly expected to prepare both legislative and administrative environments to support and accelerate the initiatives by the private sector in Asia. Therefore government officials need to deepen their knowledge on CSR to foster sustainable development and poverty alleviation. As the majority of businesses in Asia are small and medium sized enterprises (SME’s), we must discuss the benefits of CSR for SME's along the supply chain and strengthen a network for partnership among governments and the private sector.

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Objectives

It is increasingly recognized that the necessary resources for development of ADB DMCs should be mobilized from the private sector. As part of this broad objective, the conference to enhance corporate social responsibility (CSR) socially responsible investments (SRI) has been conceived and developed. This first conference will identify the issues/challenges and best practices of CSR and SRI activities and cases in Asia in collaboration with other partner institutions in Asia – UNESCAP, CSR Asia, ASrIA AIM, etc. and private corporations. This is also part of ADBI’s objective to strengthen its networking with Asian research/CBT institutions.

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Outputs

Executive Summary of Proceedings

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Participants

Senior corporate and government officials from selected ADB developing member countries as well as business organizations and industry leaders.

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Language

English (no interpretation will be provided)

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Responsibilities

Each participant is required to prepare a brief report (one page) on current policies aimed at enhancing corporate responsibility such as national reporting requirements for businesses, on financial, labor, and environmental aspects or/and current tax incentives and foreign investment.