Corporate social responsibility the role of media in corporate governance
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Corporate Social Responsibility & The Role of Media in Corporate Governance. What is included in CSR. Charity (Philanthropy) Doing business responsibly Being a good citizen. Philanthropy. Financial donations to worthy causes Setting up socially needed bodies

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Corporate Social Responsibility & The Role of Media in Corporate Governance

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Corporate social responsibility the role of media in corporate governance

Corporate Social Responsibility &The Role of Media in Corporate Governance


What is included in csr

What is included in CSR

  • Charity (Philanthropy)

  • Doing business responsibly

  • Being a good citizen


Philanthropy

Philanthropy

  • Financial donations to worthy causes

  • Setting up socially needed bodies

  • Running or supporting social bodies

  • Supplementing state efforts towards social welfare


Doing business responsibly

Doing business responsibly

  • Protecting stakeholders’ interests

  • Employees

    • Equal opportunity

    • Human element

  • Clients & Suppliers

    • Passing benefit of research

    • Not dealing in “bad” goods.


Being a good citizen

Being a good citizen

  • Obeying the law (including CCG)

  • No direct or indirect tax evasion

  • Concern for environment

  • Doing general good for the society

    • U-fone’s medical line

  • Supplementing government’s efforts towards good citizenship

    • Paying for various social campaigns


Concern for environment

Concern for Environment

  • Eco-balance

    • Deforestation

    • Soil degradation

    • Atmospheric changes

  • Pollution

    • Waste/Discharges management

  • Depletion of resources

    • Emphasis on creating re-usable resources


Strategies for prevention of industrial pollution

Strategies forPrevention of Industrial Pollution

  • Environmental processes’ audit

    • Waste management audit

    • Material usage review

    • Non-solid effluents audit

  • Financial considerations

    • Cost benefit analysis of being eco-balanced

    • Use of new cleaner technology

    • Life cycle assessments

  • Spreading awareness among users


Environmental risk management

Environmental Risk Management

  • Elements of environmental risks

    • Definition of an environmental disaster

    • Probability of its occurrence

    • Cost of handling it when it occurs

    • Allocation of responsibility

  • Means of handling the risk

    • Prevention

    • Insurance


Resource management

Resource Management

  • Energy resources (fossil fuels vs. others)

  • Re-cycling of materials

    • Using re-cycled material

    • Using bio-degradable material

  • Conservation of life supporting systems

    • Forests, tree, water sources

    • Wild life


Laws relating to ep

Laws relating to EP

  • EP Act

  • What else?

  • Self-regulation


Some big environmental disasters

Some Big Environmental Disasters

  • Chernobyl Nuclear Disaster (1986)

    • Nuclear reactors went berserk

  • Exxon Valdez (1989) in Alaska

    • 11.5 million barrels of crude spilled

  • Tokiamora Accident (1999)

    • Nuclear radiation leaked

  • Bhopal Tragedy (1984)

    • Leakage of poisonous gas, killing 300 and affecting 400,000 persons


Role of media

Role of Media

  • Reporting on facts

  • Commentary

  • Awareness Campaigns

  • Advertisement


Objectives of media intervention

Objectives of Media Intervention

  • To stop the “bad” corporate practices.

  • To encourage the “good” corporate behavior.


Reporting on facts and commentaries

Reporting on Factsand Commentaries

  • Corporate reporting is gaining popularity.

    • It is coming out of the domain of specialized journals into daily newspapers.

  • It has impact on all stakeholders; so companies care.

    • Shareholders activism

    • Consumer activism

  • Factual reporting and commentaries can serve as “carrot and stick” mode of motivation for companies.


Awareness campaigns

Awareness Campaigns

  • Media has greater reach; hence is more effective.

    • Polythene bags issue

    • Harmful effluents disposal

  • Companies can help media in campaigns for social good.

  • Awards

  • Political campaigns


Advertisement

Advertisement

  • Media can insist on honest advertising

    • Printing disclaimers is not enough

  • Advertisements are also a way of buying media’s support (or silence)


Ethics in media

Ethics in Media

  • Must maintain editorial independence.

  • Refuse dishonest advertisement.

  • Avoid sensationalism

    • All reports should be substantiated

  • Media also needs CSR standards

  • Morals in advertising


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