CSR Guidelines for the Financial Sector - page 18

Why doaCSRAssessment?
In order tomove forwardwith a strategic approach to
CSR, it is crucial to have an understanding of the current
CSR situationwithin an organization. ACSR assessment
provides the necessary information to the decision
makers to identify how best tomove forwardwithCSR,
what CSR direction to pursue, what investment is
required andwhat social return on investment to expect.
ACSR assessment can ensure that the relevant CSR
directions to be pursed are sustainable, of the desired
impacts and alignedwith the organizations operations
and existing programs and needs.
It so happens that a lot of organizations already
undertakeCSRwithout necessarily calling it so or
realizing it. Accordingly, aCSR assessment can help
bring together all CSR related information from all
practices catering for a clear opportunity of advancing
CSR by building on existing initiatives without much
incremental resource investment.
For example, an organizationmay have in place
employee educational advancement programs or
community outreach initiatives. These are likely to
become important building blocks of a strategic CSR
approach. Among other things, aCSR assessment
should identify all of these existing implicit initiatives, so
they can be properly considered as part of a larger CSR
When undertaking theCSR Survey, we askedwhether
the financial institutions are undertaking any CSR
activities and the responses were as follows:
Does thebankundertake CSRactivities?
What is aCSRAssessment?
In undertaking aCSR Assessment, a logical first step
would be to identify and examine relevant information to
the organization’s products, services, decision-making
processes and activities to understand its CSR vision,
direction and current or potential competency area. A
comprehensiveCSR Assessment would include an
understanding of the following:
- The organizations’ core values
- The existing driversmotivatingCSR both internal and
- CSR issues that could affect the organization in the
short, medium or long term
- Key stakeholders that affect or can affect the
operations of the organizations
- The decisionmaking structure and policies that can
support or hinder amore comprehensiveCSR
- The resources needed to pursue a structured andmore
dedicated approach toCSR including human and
budgetary resources
- Existing awareness and understanding of CSR
- Current CSR initiatives, activities and program
Don’t knowwere to begin?
Attached inAnnex B is a toolkit on how to
undertake aCSR Assessment?
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