CSR Guidelines for the Financial Sector - page 57

CSRGUIDELINES FOR THE FINANCIAL SECTOR
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Nowritten policies
but clear practices
12%
7%
Yes clear and extensive
written policies
Yes somewritten
policies
No
73%
8%
Wheredowe stand
with respect to CSR?
The Value of CSR isNot
Clear
What isMissing?
CultureandPracticeMissingBoth
Needed
Where the value of CSR is not clear, it
becomes key to create an awareness
towards the need for CSR through
increased awareness and understanding.
This culturewill normally yield a valuable
business case to the business that can be
translated into either a value based
system, a policy based system or a
combination of the twowoven into the
fabric of such an organization.
Strategy
Focus Area
PolicyNecessary
- Is there aCode of Conduct for employees?
- Is there anAnti corruption policy for employees to adhere to?
•We asked financial institutions through theCSR Survey if they have ethical codes and practices
on how to deal with ethically related situations and the responses we receivedwere:
SuggestedAction
Building a unique business case for CSR
is considered a key next step in such a
situation to create a realization for the
importance and value of CSR culture and
practice. To do that, an organization
would need to build an awareness and
understanding towards CSR in general
and then identify the potential added
value of CSR for such an organization or
its sector.
For example, Dohaland as a business involvedwith real estate invests inCSR through its developments and
addressing the community needs surrounding its developments. It has aligned its CSR philosophy with its business
increasing the added value of its CSR investments.
As you can see from the above, although there is no answer to themillion-dollar question of is “CSR a culture or a
practice” there aremultiple approaches to howCSR can be implementedwithin an organization.
Accordingly, there are two aspects to consider:
- Policies
- Culture
Policies
Below is a list of policies divided into their respective strategy focus areas that are valuable to consider depending on
the decision-making structure, CSR Strategy and directions:
Employee
1...,47,48,49,50,51,52,53,54,55,56 58,59,60,61,62,63,64,65,66,67,...87
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