Corporate Social Responsibility

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Solution Brief CSR through Environmental Health and Safety

CSR is not new approach for companies but latest changes in the business environment such as corporate governance and environmental regulations have forced them to consider CSR as key strategic initiative.

Under CSR, companies will have to recognize the impacts on business environment such as

• Commercial issues of compliance and risk management
• Legislation impacting business operations -- pollution and environmental issues
• Investors expectation for CSR performance indices
• Influence and expectations of stakeholders such as non-Governmental organizations and lobbying groups
• Basis for competitive advantage and brand reputation.

Key Stakeholders in CSR initiative in companies

CSR initiatives can help companies in achieving key strategic goals such as :

CSR Strategic Area	Initiatives	Activities
Environmental	Contribute to a better environment	Emission management Carbon footprint reduction Greenhouse Gas Reduction Alternate energy adoption Board and CEO commitment Environmental management     and measurement Community benefits
Corporate    Governance	Establish corporate governance approach	Define and practice equitable     treatment of shareholders Corporate ethics Clarity and transparency in     role and responsibilities of the     board and company     executives Disclosure, transparency and     accountability for shareholders
Community	Developing people through community activity	Employee engagement Employee volunteering Employee development Community activity Stakeholder communication     and engagement Selection and recruitment Staff retention Community support Diversity
Work Safety	Developing safe workplace environment	Encouraging organizations to     consider health and safety Report publicly on a range of     health and safety issues Producing and promoting a     health and safety index for     insurance companies,     investors and others to gauge     the performance of a     company

Companies can follow a 4 step model in attaining its CSR agenda :

MetricStream Corporate Social Responsibility solution allows companies to define and manage CSR initiatives and use as a strategic tool in achieving compliance and sustainability functions. It has the ability to align with operations, internal policies and standards.

The solution empowers managers with the tools and strategies to measure the efficacy of their organization's programs by centrally storing and managing data related to internal and external audits, certifications, training and corrective action plans. This includes being able to identify risk issues, prioritize corrective measures, capture and track operations across a number of functional areas, and improve the productivity of its employees involved in CSR programs.

MetricStream incorporates powerful functionality that allows for an organization to manage and report on their Key Performance Indicators (KPIs) enabling companies to assure its stakeholders that their CSR initiatives meet their goals based on real-time scorecards of performance verses objectives.