Stakeholders meet to validate national Corporate Social Responsibility policy

BusinessesStakeholders in the Eastern Region have met to validate the National Corporate Social Responsibility (CSR) Policy for Ghana in Koforidua at the weekend.

They had met two weeks earlier to emphasize the need for a comprehensive CSR policy for the country and to contribute to what should really be in the policy to ensure sustainable development of communities.

Validating the policy, the stakeholders said CSR should describe the way in which a company manages its economic, social and environmental relationships and the way it engages with its stakeholders to create economic and social benefit.

According to them CSR should be understood as creating higher and higher standards of sustainable living, while preserving the profitability or integrity of the corporation for people both within and outside the organisation.

Appreciable number of the stakeholders held the view that CSR is about aligning an organization’s products and services with stakeholder expectations, thereby adding economic, environmental and social value.

The stakeholders agreed that CSR should be strongly promoted by the government and must as well be legislated to ensure a wide uptake.

They also emphasized that responsible businesses should go beyond what is required by law to make a positive impact on society and the environment.

The stakeholders said they would like to see such issues to be enshrined in the CSR policy as anti-corruption, community development initiatives, environmental sustainability, stakeholders engagement and employee rights.

Other issues include gender equality, poverty reduction, health and educational infrastructure, technology transfer, consumer protection, management of cultural diversity and accountability in the use of CSR projects.

They also agreed that CSR in Ghana should be regulated by law and that the legal aspects of the policy should be enforced through the courts.

Dr Dan Ofori, the lead consultant for the National CSR policy process, said  the input received so far on the CSR policy would now be forwarded to the Parliamentary sub-committee in charge of trade and industry as well as the Ministry of Trade and Industry for further scrutiny.

Ms Mavis Ama Frimpong, Deputy Eastern Regional Minister, said CSR was a shared responsibility and that all stakeholders, including organisations should bring on board their ideas into the policy for the development of Ghana.

Source: GNA

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