INTERNATIONAL PRINCIPLES OF CSR

CSR is all about how different corporate across the globe operate their business functions without effecting the sustainability of the surrounding environment. To align the business corporate activities firms have to practice international principles for sustainable development.

UN Global Compact: It is the world’s largest CSR initiative which provides the basic framework for CSR to the firms. It shows the responsibilities which corporate must relate to. UN Global Compact commit has aligned their operations and strategies along with 10 universal principles in the field of human rights, labour, environment & anti-corruption. These principles are implemented as a guideline for all CSR activities

For the first time UN has set expectations to how different enterprises govern their responsibility with respect to human rights.

Human Rights principles:

Principle 1: A firm should support and respect internationally proclaimed human rights and
Principle 2: Firms should not complicit in human rights abuses.

Labour principles:

Principle 3: Businesses should ensure the freedom of association
Principle 4: Business should make sure that there is elimination of all forced as well as compulsory labour
Principle 5: Child labour should be strictly ablated
Principle 6: Elimination of discrimination in respect to occupation and environment.

Environment

Principle 7: Businesses should imply a precautionary approach towards the environment.
Principle 8: A business should take some initiatives to promote environmental responsibility
Principle 9: Business should encourage the development of environmentally friendly technologies.

Anti-Corruption