“CSR Increases and Improves Competitive Abilities of Companies” - Liderando la reputación corporativa de las empresas - Corporate
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“CSR Increases and Improves Competitive Abilities of Companies”

Sustainability

“CSR Increases and Improves Competitive Abilities of Companies”

General Director for Enterprise and Industry Directorate of the European Commission Pedro Ortún expressed his satisfaction over the progress of developing new European guidelines for promotion of Corporate Social Responsibility (CSR) published on Tuesday by the European Commission. During the discussion of the executive summary titled Non-Financial Reporting in Europe and Spain prepared by Medios Ambiente’s Garrigues and Corporate Excellence, Ortún stressed that “it is needed to create an action plan which would help all European companies to integrate social responsibility in their strategies”. The official also noted that “this is the most effective development process I have seen in my life. The instrument is important, but the process of its preparation is probably even more important”. In this context, Ortún observed that the process was so effective thanks to active participation of different interested parties in Europe, such as the Global Reporting Initiative (GRI), NGOs and trade unions.

According to Ortún, it is necessary to update the concept of Corporate Social Responsibility. He noted that the guidelines, which will outline a new strategy and action plan, go beyond the scope of the Green Book issued in 2001 and focus on the process that companies have to follow in order to integrate the values and principles of Social Responsibility in their business strategies.

Then, the official mentioned the benefits of restoring the trust of consumers in enterprises, which “not only will help to increase and improve their competitive abilities, but will guarantee their very survival”.

Ortún reiterated that the ultimate objective of the guide was to facilitate the growth of socially responsible companies in Europe, since “those who have consistently integrated these basic principles and values in their business strategies are still few”. In this regard he emphasized the importance of public recognition which may serve as an encouragement for others.

Finally, Ortún highlighted that the guidelines are based on the multidisciplinary character of CSR and view companies as the true protagonists in this process. “Public institutions play a very important role by establishing the framework, but the key actors in this process are businesses”.