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From Corporate Social Responsibility to Corporate Sustainability

Moving the Agenda Forward in Asia and the Pacific

image of From Corporate Social Responsibility to Corporate Sustainability
This publication looks at recent developments in corporate social responsibility (CSR) with particular attention to the growing role of impact investment and the need for greater convergence of global CSR instruments and provides recommendations to policymakers to enhance the adoption of CSR as an integral part of business strategy and operations. Increasingly, companies are adopting sustainable business practices as an integral element of their corporate strategies, going beyond the traditional interpretation of CSR and engage in social or impact investment and/or play active roles in development cooperation, including the provision of disaster relief and humanitarian assistance. Various global CSR instruments and sustainability frameworks, such as the Global Compact, Global Reporting Initiative and ISO 26000, have been in existence for some time and have been increasingly adopted by many companies, usually the bigger transnational corporations (TNCs).

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Unlocking the power of impact investing in Asia and the Pacific

Sustainable business practices, corporate social responsibility (CSR), sustainable investment, social investment and impact investment are means by which business activity contributes to creating social value in addition to financial value, and are means through which the private business sector contributes to social impact and development. Social impact and development goals have traditionally been seen as the responsibility of Governments and nonprofit non-governmental organizations but the opportunity to engage the private sector in contributing resources to the development agenda warrants attention from Governments, policymakers and multilateral agencies that can help facilitate the growth of sustainable business and investing practices.

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