Companys Csr Sustainability Program - 1485 Words

IV. Company’s CSR-Sustainability Program A. History The rising need for protection of intellectual property rights and improvement of public health lead the pharmaceutical industry to establish an agreement in 2001 with the World Trade Organization. In Sanofi’s earliest archived sustainability effort, Environmental Progress Report 2001, it states that Sanofi has taken initiatives to promote sustainable development as a reaction to the rise of wider and on going responsibilities. They have pursued these defensive efforts through promoting safety in the workplace, industrial hygiene, respecting the environment, training investment, and many more. Sanofi is shelling out great investments for their sustainability programs. In 2001 alone, Sanofi allocated 11.2 Million Euros for a program to limit its operations’ impact on the environment. By 2008, Sanofi showed efforts of compliance with the United Nation’s Agenda 21 Blueprint for sustainability by establishing the four pillars (i.e. Patient, Ethics, Planet, and Peo ple) that serves as the foundation of their sustainability efforts . In the following year, Sanofi began its transformation to a diversified global health care company. With this, a Corporate Social Responsibility Direction was created which changed their sustainability report to an encompassing Corporate Social Responsibility (CSR) report. These efforts lead Sanofi to embed their ethical responsibilities and discretionary responsibilities into the company’sShow MoreRelatedCsr Programs And Corporate Social Responsibility1728 Words   |  7 Pagestheir money, the company also puts a lot of effort into helping the communities by executing Corporate Social Responsibility (CSR). It is undeniable that the company has successfully addressed many critical problems in the environmental, social and economic arenas, as it continually receives awards and recognitions for its CSR efforts. One of the highlights of the CSR programs is a $50 billion commitment to address climate change by changing its internal policies. However, there were some critics onRead MoreCoca Col Transparency, The Formation Of Sustainability Indices1350 Words   |  6 PagesCoca-Cola CSR Accountability Due to the vastly growing demand for organizational transparency, the formation of sustainability indices has assisted prospective investors by serving as educational tools and allowing them to confidently engage with companies who create a positive social and environmental impact. These indices, such as the Dow Jones Sustainability Index (DJSI), evaluate and measure some of the world’s most profitable companies’ based on criteria such as economic, social, and environmentalRead MoreSwot Analysis. Based On The Information On The Dow Chemical765 Words   |  4 Pagesinformation on the Dow Chemical Canada website, it would appear that Dow has an impressive sustainability program. The website talked about Dow’s dedication to sustainability and highlighted their many accomplishments (Dow, n.d.). However, Dow still feels that more can be done to strengthen their Corporate Social Responsibility (CSR) program. Thus, their focus is to find ways to mandate a company-wide ‘engage of impact’ program from their 2025 goals that would help them achieve their desired social responsibilityRead MoreCorporate Social Responsibility ( Csr ) Encompasses Business Practices Involving Actions988 Words   |  4 PagesCorporate Social Responsibility Corporate social responsibility (CSR) encompasses business practices involving actions that benefit the organization and the stakeholders, which comprises of the society (Schermerhorn, 2012). â€Å"CSR is becoming more mainstream because pioneer companies are embedding sustainability into the core of their business operations to create shared values collectively for business and society.† - Liz Maw Understanding Microsoft’s Corporate Social Responsibilities MicrosoftRead MoreWalmart s More Recent Activity1083 Words   |  5 PagesSecond, Walmart’s more recent activity also points to effective CSR practices. These efforts have included a reduction in greenhouse gas emissions along its entire supply chain, ceasing business with factories that violated labor laws, as well as â€Å"financial contributions in kind, such as investments in education, health, commitments to fight hunger, support for local farmers and access to healthier and affordable food† (Torres, Garcia-French, Hordijk, Nguyen 2012, p. 25). Furthermore, Walmart hasRead MoreAnalysis of Staples CSR Programs950 Words   |  4 Pagesmost advanced Corporate Social Responsibility (CSR) programs in the retailing industry today. The Soul Program at Staples is based on a foundation of four pillars which include Community, Diversity, Ethics and Environment. Staples has taken these four foundational elements and successfully integrated them into the culture of their corporation, transforming them into a long-term competitive advantage (Field, 2009). The idealized state of CSR Programs is to provide an agile, intelligent framework forRead MoreStarbuckss Corporate Social Responsibility1576 Words   |  7 PagesBefore understanding that the SC is a company that participates in Corporate Social Responsibility (CSR), one must first know where the company was founded and what led to the events of the SC becoming a CSR. Also, an understanding of what CSR is, will be beneficial. Aft er knowing the background information and the definition of CSR, then one will be able to address issues of the SC obtaining CSR. According to Lemus, von Feigenblatt, Orta, and Rivero (2015), the SC was founded in 1971, inRead MoreA Business Plan For The Long Run With Csr Strategies1737 Words   |  7 Pagesprofitable one. However, can a business succeed in the long run with CSR strategies derived from the need to be sustainable? In this effort to create a sustainable and profitable organization, it is possible that corporate social responsibility (CSR) strategies are developed and employed by the organization without CSR itself being the original motivator. In other words, sustainability can be the main motivator for organizations to establish CSR strategies. In doing this, it is possible that they are actuallyRead MoreWhat is Reverse Logistics? Essay examples1259 Words   |  6 Pageseconomist and Nobel laureate Milton Friedman referred to corporate social responsibility (CSR) programs as â€Å"hypocritical window-dressing,† and commented that business leaders inclined toward such programs â€Å"reveal a suicidal impulse.† At that time his views were echoed by most of the people around the world but today the scenario has changed. A decade ago only few of fortune 500 companies has issues their sustainability report. But now almost every one of them does that. Around 8,000 businesses across t heRead MoreWhole Foods And The Corporate Social Responsibility1137 Words   |  5 Pagesexplore is Whole Foods and the corporate social responsibility (CSR) they adhere to. Corporate social responsibility, also known as CSR, means â€Å"a corporation’s initiatives to assess and take responsibility for the company’s effects on environmental and social well-being†, according to, Investopedia, (R., 2015). Whole foods are dedicated to contributing back to its people, community, and the environment while profiting as a company. CSR is just as important as their ethical practices including â€Å"green