The New Nation - Internet Edition

BUSINESS REPORT

The British High Commission in Dhaka launched a project on 16 January last which will help Bangladeshi businesses to maintain a leading edge, through recognising and harnessing the commercial benefits of adopting Corporate Social Responsibility (CSR) practices.

The UK's Minister for Trade and Investment, Lord Digby Jones, said, "In today's growing global economy, businesses - large and small - have an impact on society and the environment in which they operate. Consumers, when making a purchasing decision, are increasingly influenced by a company's record of social awareness. Ethical policies have become a strong selling point.

It is essential that companies that wish to retain a competitive edge have a CSR strategy in place. I believe that Bangladesh, like any other market in the world, stands to benefit, as CSR becomes an integral part of the wealth creation process. It sends a powerful message to business and consumers that Bangladesh is a place do business with".

In collaboration with local partners, the British High Commission's CSR project offers practical support to businesses looking to enhance their commercial edge. Activities include interactive workshops with CSR experts, company surveys and sharing publications and relevant case studies from successful local companies and members of the British Business Group, setting out the business case for CSR in Bangladesh and how this can be applied in practice.

The project will also provide an opportunity for businesses to learn about ISO 26000, the new voluntary international standard for Social Responsibility, which will shortly come into effect.

The British High Commissioner, Anwar Choudhury, stressed the benefits of CSR both for Bangladeshi businesses and for the country more widely.

"CSR is not only morally the right thing to do; it is also the smart thing to do. Applying CSR practices helps to enhance the rights and dignity of Bangladeshi people as well as build a motivated, healthy and skilled workforce. And it's also smart because it concerns the bottom line.

Buyers from Europe and North America are explicitly choosing to source goods from socially compliant factories. Having a CSR strategy gives a strong and positive message that the company is socially and ethically responsible and contributing to the country's overall economic development and welfare."