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WHILE
the Philippines ranked among top 10 countries with
privately held businesses that include corporate social
responsibility (CSR) as programs, firms are still far
from good waste management and energy efficiency.
This was revealed by the recent study of
accounting firm Grant Thornton International Ltd. on
companies that “do good.”
Philippine companies also lag behind in
charitable donations, with India and Japan as peers in
this category, said the research titled “Corporate
Social Responsibility: A Necessity, Not A Choice.”
The survey of 7,800 businesses across 34
economies revealed that of 11 CSR initiatives undertaken
in the past year, Philippine businesses lag behind in
terms of improved waste management, improved energy
efficiency, and donations to community causes/charities.
Less than 20 percent of Philippine
businesses surveyed said they have correlated waste
management and energy efficiency as key features of
their CSR initiatives.
The survey said “these countries are
newcomers to the global marketplace and, at present,
amid their very rapid progress, waste management and
energy efficiency appear to have a relatively low
priority.”
Armenia
and Vietnam, however, still led the Philippines in these
initiatives.
Likewise, only a few among Philippine
businesses said they donate to good causes. “The
Philippines [22 percent], Japan [27 percent] and India
[33 percent]. . .have very low percentages in this
area.”
Donating to good causes is the third
most popular action in managing social responsibility in
Grant Thornton’s survey. It said this initiative is “the
only one in the top five not concerned with
human-resource issues.”
In his introduction to the survey, Grant
Thornton executive Alex MacBeath said CSR is important
to privately held businesses (PHBs), since they “have
always been the economic engine of the world.”
The survey reveals that most businesses
believe adopting CSR principles —operating ethically and
responsibly—“they have a greater chance of success.” The
survey reveals that overall, 59 percent of PHBs surveyed
said they have incorporated CSR policies into a formal
responsible business-practice program.
The Philippines was ranked sixth among
countries with PHBs like these, just tailing those in
the US (63 percent) and having the same percentage as
South Africa’s.
Philippine businesses are just above the
global average of 56 percent; meaning, more than half of
those surveyed said they have included CSR in their
day-to-day operations.
Businesses in mainland China ranked the
most number of PHBs (74 percent), while the 10th country
with PHBs saying they have CSR policies in their
operations was Canada (54 percent).
Businesses in the Philippines, like
those in Vietnam, are also striving to impress both
local and overseas investors in terms of adopting a more
ethical business practice, the survey revealed.
At least 71 percent of Philippine
companies surveyed said they have ethical business
practice.
Philippine businesses were also grouped,
with
Armenia,
Thailand and India as countries that said measures to
improve workforce health and well-being are in place.
These measures “are clearly seen as
vital to attract and retain staff in a tight labor
market, with skills shortages pressurizing production
and growth.”
Other CSR inititiatives that PHBs
responded to included providing apprentices/work
experience; active promotion of diversity/equality at
work; allowed flexible working schemes; and
participation in community activities.
Changing products/services, helping
other businesses improve performance, and sourcing local
or ethical products/services were also CSR initiatives
that PHBs said they were undertaking. |
