CSR practices can bring long-term benefits | The Daily Star
12:00 AM, May 08, 2008 / LAST MODIFIED: 12:00 AM, May 08, 2008

CSR practices can bring long-term benefits

Say Scandinavian diplomats

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Ambassadors from Scandinavian countries yesterday called on local companies to ensure CSR practices for long-term benefits.
"In a developing country like Bangladesh the concept of CSR (Corporate Social Responsibility) is new. But the implication of not having a CSR policy might be huge in the years to come," said Danish Ambassador Einar Hebogaard Jensen, as he referred to international buyers' increasing preference on ethical practices in business.
The Danish Ambassador said this at a discussion on CSR, jointly organised by the Bangladesh Enterprise Institute (BEI), Embassy of Sweden, Royal Norwegian Embassy, Royal Danish Embassy and CSR Centre at BEI office in Dhaka.
Norwegian Ambassador Ingebjorg Stofring, Swedish Ambassador Britt Falkman Hagstrom, BEI President Farooq Sobhan and Bangladesh Garments Manufacturers and Exporters Association President Anwar-ul-Alam Chowdhury also spoke, among others.
The Danish ambassador lamented over Bangladeshi companies' misconceived idea of CSR, adding that in medium and long term- the outcome of CSR is positive.
The CSR is a relatively new concept in Bangladesh with many companies having little idea on the issue. Government agencies, such as Bangladesh Bank, are now encouraging businesses to start practicing CSR.
"In our history we have also experienced riots and demonstrations, but we have also found ways to handle differences of opinion and find solutions around the negotiating tables rather than on the streets," said Swedish Ambassador Britt Falkman Hagstrom.
She said CSR has benefited all, employers as well as workers. "That is also one of the key component of the development of welfare states," she added.
Referring to Scandinavian companies in Bangladesh, such as GrameenPhone, Norwegian Ambassador Ingebjorg Stofring said these companies are taking CSR very seriously and developing a corporate culture for others to follow.

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Grameenphone and Robi:
Type START <space> BR and send SMS it to 2222

Banglalink:
Type START <space> BR and send SMS it to 2225

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