CSR Guidelines for the Financial Sector - page 55

CSRGUIDELINES FOR THE FINANCIAL SECTOR
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To assess theCSR decision-making structure of an organization it is important to ascertain theCSR awareness at the
board andmanagement level.With respect to the board theymay wish to consider the following issues:
1. Is the board fully committed toCSR and is it incorporated into the organization's vision and strategy?
2. Is the board accountable for CSR?
3. Does the board integrateCSR risks into theirmanagement of enterprise risk?
4. Is the board equipped to provide oversight onmaterial CSR issues?
5. Does the board regularly disclose information about the organization’s CSR performance?
Amore detailed assessment questionnaire is attached inAnnex E –CSRGovernance Toolkit.
With respect tomanagers, it is worth asking the following questions to understand the degree towhichCSR is being
integrated into the organization’smanagement, operations and decisions:
1. Enterprise RiskManagement:
a. Towhat degree are social and environmental risks and opportunities identified, quantified andmanaged in our
operations? In our supply chain?
2. CSR Trends:
a.What are the key social and environmental issues that could affect our long-term success?
b.What are our competitors doing onCSR and how are they benefiting from this approach?
3. Stakeholder Perception:
a.What are stakeholder expectations for a company in our industry?
b. Arewe perceived to bemeeting those expectations?
c.What are the risks if we are not?
4. Decision Impacts:
a. Havewe considered the social or environmental impacts of this decision?
b. Does this decision alignwith our CSR commitments?
5. Financial Investments:
a. Does our investment / asset management policies incorporate environmental, social and governance factors?
6. Operations:
a. Havewe taken advantage of opportunities to reduce our environmental footprint in order to generate operational
efficiencies and cost-savings?
7. Products and Services:
a. Do our products and services advance social or environmental benefits?
b. Are there social or environmental risks associatedwith the life cycle of our products that need to bemanaged,
from design and production to use and disposal?
8. HumanResources:
a. Does our Human Resource Strategy reflect CSR? For example, is CSR incorporated into staff training and
compensation?
9. ImpactMeasurement:
a. How arewemeasuring the social / environmental impacts of this area of our business?
10. Integration:
a. How is themanagement of social and environmental matters integrated into our core business processes, such as
performancemanagement, internal assurance and business planning?
11. BrandandMarket Development:
a. Does our company and product brand include sustainability features aligned to our customers’ values?
b. How can this help us advancemarket share?
Based on the above, theCSR Leadership Teamwith the support of the board and seniormanagement can establish
a clear CSR decision-making structure that is valuable to the organization and paves theway for effective
implementation of CSR.
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