CSR begins to take solid shape
By Ding Qingfen and Selina Lo (China Daily)
Updated: 2006-10-27 10:44
Win-win situation
The emotional appeal of CSR can have tremendous benefits on corporate
identity and integrity when done in a sustainable way. "We live in a very
interconnected world. It should not be a give-and-lose situation but a win-win
one," said Valentino.
The SPDB began its initiatives to conserve natural resources in 1997 by
introducing advanced technologies to create an online, paperless office. It also
set up a care website through which it collects donations for HIV patients.
Money collected from the website was donated to 142 orphans with HIV in Henan
Province for treatment. And the bank plans to give another 1 million yuan
(US$126,670) to children with HIV in the next three years through the website.
"We have invested a lot of money, but we have also reduced our costs and risks
and improved management efficiency. We also enhanced our image and branding,
which would have a long-term effect," said Ma.
Long-term process
As the China CSR Survey 2006 shows, many Chinese companies still have
misconceptions about CSR although they are aware of its significance. CSR needs
more public attention as well. Of the 12 sectors investigated, service
industries including banking and telecommunications are more sensitive to CSR,
while the steel and energy industries are less conscious of the negative impact
their activities have on society and the environment. "For them it is a long
road ahead," said Tong.
"Chinese corporations are waking up as they realize CSR is necessary for
their companies' long-term sustainability," Ma said. "They are beginning to have
innovative plans and actions to improve the environment. And they realize it's
an ongoing process too, not just giving money away."
(For more biz stories, please visit Industry Updates)
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