The growing trend of CSR (corporate social responsibility) shows that companies are beginning to understand the need to do more than making profit and be part of a greater social solution which was amply displayed at the recently held Best Corporate Citizen Award 2012 organised by the Ceylon Chamber of Commerce. There is now a [...]

Feeds Editorials Times Online

The Sundaytimes Sri Lanka

Corporate Citizen Awards: SL firms realise that money and profit are not everything

By Duruthu Edirimuni Chandrasekera
View(s):

The growing trend of CSR (corporate social responsibility) shows that companies are beginning to understand the need to do more than making profit and be part of a greater social solution which was amply displayed at the recently held Best Corporate Citizen Award 2012 organised by the Ceylon Chamber of Commerce.

CCC Chairman Susantha Ratnayake and Aitken Spence Director Rajan Britto. Pic by Susantha Liyanawatte

There is now a widespread acceptance of the fact that corporate social responsibility is no longer an extra business practice but a necessity and it is high time the corporations realised the inevitability of change and transition to a new paradigm, was the message that was put across at the ceremony by most speakers who also noted that unless companies learn to do with less and do not cause damage to the environment, there is no way in which humanity is going to survive.

As corporate social responsibility is becoming increasingly important in attaining and sustaining competitive advantage, many companies have signed on to pro-environmental and pro-social initiatives, India’s corporate giant TATA Steel’s Head of Corporate Social Responsibility Biren Bhuta said, delivering the keynote address at the gala ceremony.

He said that such initiatives promote doing good while strengthening a firm’s competitive advantage. “Starting with a Tata Workout in 2001, CEOs of the TATA companies have collectively evolved an integrated approach to embedding a sustainability mindset into their systems, people, and processes,” he said.

According to Founder of Tata Steel Jamsetji Tata, “In a free enterprise, the community is not just another stakeholder, but is, in fact, the very purpose of its existence”, Mr. Bhuta said, noting that founded on this philosophy, Tata Steel’s CSR policy focuses on social sustainability, healthcare initiatives, environmental sustainability, and inclusive growth.

The 10 best corporate citizens judged were Aitken Spence, Ceylon Biscuits Limited, Diesel & Motor Engineering, HSBC, National Development Bank, People’s Leasing Company, Singer (Sri Lanka), Sri Lanka Telecom, Standard Chartered Bank

Winners

and Unilever Sri Lanka.

Aitken Spence also bagged two sector awards for Environment and Economic contribution and Governance while the sector award for Social: People and CSR was won by Singer (Sri Lanka). The awards ceremony also recognized organisations excelling in diverse areas in business and the category award for employee relations was won by Ceylon Biscuits Ltd while Singer (Sri Lanka) carried off the awards for both Customer and Supplier Relations and Community Relations and CSR. Economic Contribution Award was won by Sri Lanka Telecom and Financial Performance award was won by Aitken Spence. Diesel and Motor Engineering was awarded the category award for Governance and Reporting.

Best CSR Projects winners were Ceylon Biscuits Ltd, Commercial Bank of Ceylon PLC, Coca Cola Beverages Sri Lanka Ltd., Diesel and Motor Engineering PLC, Asia Recycling (Pvt) Ltd., Tokyo Cement company (Lanka )PLC., Keells Food Products PLC, MTV Channels (Pvt) Ltd., National Development Bank PLC, Janashakthi Insurance PLC and Standard Chartered Bank.




Share This Post

DeliciousDiggGoogleStumbleuponRedditTechnoratiYahooBloggerMyspace
comments powered by Disqus

Advertising Rates

Please contact the advertising office on 011 - 2479521 for the advertising rates.