Looking for a specific product?

Make a search for products & suppliers, articles & news.

Higher expectations of corporate social responsibility

To an increasing extent, consumers, employees and investors are expecting companies to demonstrate corporate social responsibility. At the same time, companies are preparing to establish operations in countries that are undergoing political upheaval. This was one of the topics discussed at the international conference on corporate social responsibility hosted by the Ministry of Foreign Affairs in Oslo on 13–14 November.

Minister of Foreign Affairs Espen Barth Eide gives the opening speech at the Oslo Conference on Corporate Social Responsibility, hosted by the Ministry of Foreign Affairs. (Photo: Ministry of Foreign Affairs)
Minister of Foreign Affairs Espen Barth Eide gives the opening speech at the Oslo Conference on Corporate Social Responsibility, hosted by the Ministry of Foreign Affairs. (Photo: Ministry of Foreign Affairs)

Corporate social responsibility (CSR) is gaining new relevance as companies are preparing to establish operations in countries that have undergone political upheaval or that have changed course.

Having previously advised Norwegian companies not to operate in Myanmar, the Government is now encouraging them to do so.

“It is no longer a question of whether to enter new markets like Myanmar, but rather of how to enter them,” Minister of Foreign Affairs Espen Barth Eide said in his opening speech at the conference.

“However, Norwegian companies are required to observe the same ethical standards as they do at home, and to fulfil their responsibility to respect human rights,” Mr Eide said.

The conference focused on what we can do to close the gap between international CSR principles and the practices of small- and medium-sized enterprises when operating abroad. Civil society organisations, the media and the authorities all have key roles to play in these efforts.

CSR has made a difference, although much still remains to be done. In the future, the expectations of consumers, employees, investors and the general public with regard to CSR will in all likelihood increase. In turn, companies that make the connection between a good reputation and good sales figures will probably attach more importance to CSR.

Given the key role the business sector plays in value creation, conference participants argued in favour of a “smart mix” of voluntary guidelines, laws/regulations and incentives relating to companies’ CSR practices.

 

 

Related news

Latest news

Hatteland Display Releases New Large Format 4K Screen

Hatteland Display Releases New Large Format 4K Screen for ECDIS and Bridge System Applications. The new 32” Ultra High Definition model enables multi-application data to be viewed clearly from a single operator station.

Deck Equipment Contract for Palfinger Marine

PALFINGER MARINE has signed a contract with Simek in Norway to deliver the complete winch package onboard their newbuilding 134, a longliner vessel.

New contract: Windcat 41 - no 17 in the Servogear series

Servogear announces the signing of a new contract with Windcat Workboats BV for the delivery of Servogear Controllable Pitch Propellers (CPP)  for their new vessel Windcat 41. 

Seacat Enterprise to be launched January 12th

Seacat Services, is preparing to launch its first High Speed Utility Vessel (HSUV), Seacat Enterprise at January 12th.

57 million NOK for innovation to combat poverty

Brunvoll acquires Scana Propulsion

Brunvoll AS has signed an agreement with Incus Investor ASA to acquire all the shares in Scana Propulsion AS, including subsidiaries Scana Volda AS and Scana Mar-El AS in Norway and three sales companies located in the Uni...

Norsafe Signs Contract with the Swedish Coast Guard (KBV)

On Wednesday 21st December, Norsafe signed yet another new contract with the Swedish Coast Guard (KBV) to deliver nine new Magnum 750 MKII boats.

A Unique Second-generation Tomograph is Developed

A new gamma-ray tomograph designed to image up to 4” diameter pipes, is developed by CMR Prototech for the Saskatchewan Research Council (SRC) in Canada.

Sohome launches a new website

Sohome has launched a new website that makes it easier to find key information.