Socially Responsible Business: A Model for a Sustainable Future 

Participant Stakeholders:  UNESCAP and the United Nations University- Institute for the Advanced Study of Sustainability UNU-IAS
Sustainability Leaders: Isabel B. Franco, Ph.D; Dr. M. Abe (Japan)
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Impact: Today’s global business environment is radically changing to address the environmental and social challenges of our time. The increasing threat of severe climate change, as well as the widening of gaps between socioeconomic groups and frequent social unrests are pressuring businesses to change normative management practices and operations towards development that is both inclusive and sustainable. While shareholders have a vested interest in financial economic returns, stakeholders are more broadly interested in, or concerned with, business’ objectives, policies and operations which may impact global sustainability. Accordingly, this publication aims to increase the knowledge of policymakers and corporate leaders on the Socially Responsible Business (SRB) approach. Analysis of the foundations, principles, practices and enablers of SRB reveals the key role this approach can play in promoting inclusiveness and sustainability, and ultimately, in contributing to the SDGs. A deeper understanding of SRB will assist both public and private sectors to integrate a greater level of SRB practices into business operations of small and medium-sized enterprises (SMEs) as well as large enterprises and transnational corporations (TNCs). Finally, organizations that have implemented these practices demonstrate how the SRB approach can foster the global change necessary for a sustainable future. 

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Corporate Sustainability Performance: An Approach to Effective Sustainable Community Development or Not? A Case Study of the Luanshya Copper Mine 
in Zambia

Corporate Sustainability Performance (CSP) is being promoted as a way in which corporations in the extractive industry can contribute to poverty eradication in developing resource regions. As such, the international debate on CSP has moved from whether companies ought to do it or not, to the extent to which it can contribute to sustainable development. Corporations worldwide have therefore reshaped their frameworks, rules, and business models to accommodate CSP. This article evaluates whether, through the implementation of CSP, companies are able to contribute to the sustainable development of host communities in developing countries. Against this backdrop, there exists a knowledge gap in Zambia as to what the actual contributions of CSP are towards sustainable community development. Through literature review and community data analysis, the results revealed that there was a mismatch in priorities between CSP and the expectations of community members. Findings show that CSP focused mostly on haphazard donations, an approach that has been proven to be unsustainable. Finally, CSP had little or negligible impact on most selected Sustainable Development Goals (SDGs). In view of these findings, the study suggests adopting sustainability frameworks that are tailored to the local context. Furthermore, formulation of CSP initiatives should take a triangular approach of communication that is inclusive of all stakeholders.

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