Corporate Social Responsibility

1
Corporate Social Responsibility The Role of
Media in Corporate Governance
2
What is included in CSR

• Charity (Philanthropy)
• Doing business responsibly
• Being a good citizen

3
Philanthropy

• Financial donations to worthy causes
• Setting up socially needed bodies
• Running or supporting social bodies
• Supplementing state efforts towards social welfare

4
Doing business responsibly

• Protecting stakeholders interests
• Employees
• Equal opportunity
• Human element
• Clients Suppliers
• Passing benefit of research
• Not dealing in bad goods.

5
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-fones medical line
• Supplementing governments efforts towards good
  citizenship
• Paying for various social campaigns

6
Concern for Environment

• Eco-balance
• Deforestation
• Soil degradation
• Atmospheric changes
• Pollution
• Waste/Discharges management
• Depletion of resources
• Emphasis on creating re-usable resources

7
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

8
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

9
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

10
Laws relating to EP

• EP Act
• What else?
• Self-regulation

11
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

12
Role of Media

• Reporting on facts
• Commentary
• Awareness Campaigns
• Advertisement

13
Objectives of Media Intervention

• To stop the bad corporate practices.
• To encourage the good corporate behavior.

14
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.

15
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

16
Advertisement

• Media can insist on honest advertising
• Printing disclaimers is not enough
• Advertisements are also a way of buying medias
  support (or silence)

17
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