CSR Guidelines for the Financial Sector - page 20

5
AnnexA - CSRCommitment Troubleshooting
How to createmoreCSRCommitment?
From our experience, practitioners in the region often strugglewith getting the boardmore engaged and committed
toCSR. Board of directors are often skeptical about CSR and therefore, getting them to discuss the topic of CSR in
the boardroom or at that strategic level can prove to be difficult with a lot of resistance. If that is the case, here are
some suggestions to help overcome that:
Problem
Little or no
engagement
Resistance
Possible Solution
Identify your unique
business case
Keep it at low
budgets but efficient
Communicate
effectively
Tax deductable
Source of Problem
Not sure of the value
Too expensive
No resources
Description
To get the board to buy intoCSR, it is important to show them
what is the unique business case for CSR for your organization.
Is it going to be a competitive advantage, brand recognition, risk
management and howwill it influence the day-to-day business
of your organization. Showing the board the value of CSR often
helps them feel the tangible nature of CSR and encourages them
to get more involved.
When the board are not engaged inCSR they are oftenworried
about the additional costs that appear to stem from
implementingCSR. Try startingwithCSR on a low budget with
employees and stakeholder engagement show them the benefit
that can come from it and then gradually increase the time and
resources investment intoCSR. Thismakes it easier for boards to
grasp, accept and support.
Because of the nature of CSR, it is important to communicate
effectively about CSR, its purpose, vision and objective.When
broken down into simple basicmessages CSR is easier to accept,
handle andmanage than a nascent principle or practice.
Depending on the jurisdiction of your organization, it may be
worth emphasizing that someCSR investmentsmay be tax
deductible. This is a high selling point tomany boards.
Possible solution
Many boards resist CSR because they are not sure of its value. If
that’s the case, try and present the unique business case of CSR
for your organization asmentioned above to represent the value
of CSR.
It is possible to have effective sustainableCSR at very low
budgets and costs. The easiest way is to integrateCSR into the
workplace and the business through existing policies.With a
slow integration approach, the value of CSRwill show up and
this can be captured to show that CSR does not have to be
expensive.
A lot of boards resist CSR because they don’t have the resources
tomanageCSR issues. If that’s the case, please note that there
aremany training and capacity building programs taking place
across the region that can help build on existing know-how and
create new and additional resources.
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