CSR

• Corporate social responsibility (CSR)

  The concept that businesses have a responsibility that goes beyond making profits for their shareholders. Businesses need to monitor and take responsibility for the impact they have on both social welfare and the environment.
• Some large organisations now audit relevant activities and make a corporate responsibility report available to the public
• The standards in the area of corporate responsibility reporting are not universally established
• There's no universal measure or standards, but a common goal amongst businesses is the UN Global Goals
• Principality Building Society


  • One of the largest building societies in the UK
  • Being member owned, they have strong CSR principals
• Social and environmental audits (SEAs) may address

  • How well do we ensure human rights?
  • Do we use suppliers who use child labour?
  • Do we discriminate when recruiting?
  • Do we pay the correct level of remuneration for the job?
  • How many women do we have in senior positions?
• Acting ethically, unless required to do so by law

  Can negatively impact profitability
• The impact of acting ethically will not always be negative