How is CSR Reflected in Legislation and Standards?
Many businesses are embracing Corporate Social Responsibility – CSR. There are many reasons for this, motivated by philanthropic and self-serving interests. But what standards do legislators hold these companies to? And what independent standards can they adopt, to demonstrate their CSR credentials?
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Corporate Social Responsibility (CSR)
This video is part of course module 6.2
Program 6: Managing within Organizations
Course 2: Corporate Social Responsibility
Other videos that describe Corporate Social Responsibility:
🎬 What is Corporate Social Responsibility (CSR)?
🎬 What is the Triple Bottom Line?
🎬 CSR: Who are an Organization’s Stakeholders?
🎬 What are an Organization’s Environmental Responsibilities under CSR?
🎬 What are an Organization’s Social Responsibilities under CSR?
🎬 What are an Organization’s Ethical Responsibilities under CSR?
It’s impossible to cover all the legal and regulatory frameworks in the nations and federal states around the world. But the key elements of CSR embedded in legislation include things like:
– Employment protection
– Equal Opportunities and Discrimination legislation
– Maternal, paternal, and carer rights
– Consumer protection and product liabilities
– Environmental protection
– Health & Safety legislation
In addition, the accounting industry and corporate oversight bodies are building CSR requirements into Corporate Governance and mandatory reporting to shareholders and regulators.
Four Standards & Certifications
1. The Sustainability Accounting Standards Board – https://www.sasb.org
2. B Lab’s B-corp certification – https://www.bcorporation.net
3. ISEAL code compliance – https://www.isealalliance.org
4. International Organization for Standardization: ISO 26000 – https://www.iso.org/iso-26000-social-responsibility.html
1. What CSR-related regulations and legislation are you aware of in your country or state? (2 MC CPD Points)
2. How could compliance with an external standard benefit your organization? (2 MC CPD Points)
There are many books that discuss CSR. These are the ones I recommend:
📖 Corporate Social Responsibility: A Very Short Introduction
📖 Cannibals with Forks: The Triple Bottom Line Of 21st Century Business
📖 Strategic Management: A Stakeholder Approach: R Freeman
📖 The Stakeholder Strategy: Profiting from Collaborative Business Relationships
📖 Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause
📖 Corporation Be Good! the Story of Corporate Social Responsibility
⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos
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00:00 – Corporate Social Responsibility legislation and standards
00:36 – CSR in Legislation
02:25 – Corporate Social Responsibility for its own sake
02:52 – CSR in owner-managed businesses
03:19 – Companies’ desire to hold themselves to CSR standards
03:47 – The Sustainability Accounting Standards Board
04:06 – B Lab’s B-corp Certification
04:37 – ISEAL Code Compliance
05:10 – International Organization for Standardization: ISO 26000
06:05 – Summing up
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