Social responsibility

Companies, intermediaries and non-governmental organisations (NGOs) are becoming increasingly aware of the power that consumers, would-be consumers and local pressure groups wield, as more people become prepared to support organisations committed to the concept of sustainability as a key element of their commercial offering.

Corporate Social Responsibility is the phrase used by Norsk Hydro AS in their work to develop a world class response to the challenges resulting from the drive to make their business live the values which they expound. Norsk Hydro uses the following definition of Corporate Social Responsibility:

'The concept that a corporation is accountable for its impact on all relevant stakeholders. The continuing commitment by business to behave fairly and responsibly and contribute to economic development while improving the quality of life of the work force and their families as well as the local community and society at large.' (Odd Henrik Robberstad Invitation to a dialogue - Corporate Social Responsibility , p10)

This company is advanced in its acceptance of its wider responsibilities - wider, that is, than the responsibility to deliver shareholder value in financial terms.

Odd Henrik Robberstad, Senior Vice-President Corporate Social Responsibility at Norsk Hydro, said:

'The role and social responsibility of the business world is a recurrent, controversial, and multi-faceted issue. However, during the past few years the problems associated with the business world's social responsibility have been given more holistic and focused attention in international debate under the collective term Corporate Social Responsibility.'

These statements encapsulate one company's approach to CSR. Over the period covered by Vision 2010 it is likely that increasing pressure will be brought to bear on all levels of business, firstly to make their position clear to their stakeholders and to the community at large, and then to demonstrate through their actions their commitment to creating a sustainable environment.

up | previous | next