There are various bodies (local as well as international) which like any other country are regulating the CSR practices in companies across Pakistan. However, since this effort is totally volunteered and companies are not bound by law to engage in CSR related activities; therefore, this notion is still in embryonic stages here and unlike the developing countries; awareness regarding these practices is still at large.
Nevertheless, different regulating bodies are working for the promotion of this notion and some companies (mostly multinational) are now catching up with the rest of the world.
Businesses are responsible for both enhancing their profitability and the welfare of the society. Whereas, in Pakistan CSR only covers the welfare part in this duo that too is mostly philanthropic. However, the concept of CSR is linked to the concept of Triple-Bottom Line (TBL) Reporting i.e. People, Planet and Profit.
This is a framework to gauge companies performance against the three major indicators i.e. their performance in social, environmental and economic. Other models includes the model of The World Business Council for SustainableDevelopment (WBCSD)which suggest that CSR is a non-stop commitment of a business for ethical behavior and contribution towards economic development by improving the standards of lives of their employees, local communities and societies at large. Similarly, Carrolls model of CSR is among the most widely cited model in the academic arena in particular. The four main components of this model include economic responsibility of the company, legal responsibility, ethical responsibility and philanthropic responsibility.
There are other key stakeholders across the world (including Pakistan) which are also encouraging and demanding companies to adhere to CSR practices. This burgeoning demand from various stakeholders and international standards such asISO 14000 and 14001 standards for environmental management, the ISO 26000 for social responsibility, SA 8000 for social accountability standards, the Global Reporting Initiative (GRI),
The UNSustainable Development Goals (SDGs) by 2030, the code of corporate governance ofSecurities and Exchange Commission of Pakistan (SECP) in 2002, the voluntary CSR guidelines of SECP in 2013 and more recently the UNGP reporting framework have set the tone for engaging in CSR activities. Moreover, the recent corporate scandals such as the BP oil spill, the corporate scandal of Barclays and increasing demand from consumers about ethical and responsible business operations have further strengthen the need for engaging in CSR. Below is the Table 1 of all those bodies (both national and international) that are promoting CSR practices in Pakistan.
Table 1: National & International Bodies promoting CSR in Pakistan
All these organization under their own capacity and specialized areas are promoting CSR activities across Pakistan. For example, SECP, SBP and Ministry of Commerce are working on devising the rules, regulations, laws and codes of conducts; Oxfam, UNDP and GRI are facilitating research on CSR and disseminating it forward; ILO looks from the child labor, and gender equality at work perspectives and Chamber of Commerce and Industries connect local companies and different international regulatory frameworks such as ISO 14000, ISO 26000 or SA 8000 etc.
http://www.csrcafe.com/2016/02/CSR-regulators-in-Pakistan.html
Nevertheless, different regulating bodies are working for the promotion of this notion and some companies (mostly multinational) are now catching up with the rest of the world.
Businesses are responsible for both enhancing their profitability and the welfare of the society. Whereas, in Pakistan CSR only covers the welfare part in this duo that too is mostly philanthropic. However, the concept of CSR is linked to the concept of Triple-Bottom Line (TBL) Reporting i.e. People, Planet and Profit.
This is a framework to gauge companies performance against the three major indicators i.e. their performance in social, environmental and economic. Other models includes the model of The World Business Council for SustainableDevelopment (WBCSD)which suggest that CSR is a non-stop commitment of a business for ethical behavior and contribution towards economic development by improving the standards of lives of their employees, local communities and societies at large. Similarly, Carrolls model of CSR is among the most widely cited model in the academic arena in particular. The four main components of this model include economic responsibility of the company, legal responsibility, ethical responsibility and philanthropic responsibility.
There are other key stakeholders across the world (including Pakistan) which are also encouraging and demanding companies to adhere to CSR practices. This burgeoning demand from various stakeholders and international standards such asISO 14000 and 14001 standards for environmental management, the ISO 26000 for social responsibility, SA 8000 for social accountability standards, the Global Reporting Initiative (GRI),
The UNSustainable Development Goals (SDGs) by 2030, the code of corporate governance ofSecurities and Exchange Commission of Pakistan (SECP) in 2002, the voluntary CSR guidelines of SECP in 2013 and more recently the UNGP reporting framework have set the tone for engaging in CSR activities. Moreover, the recent corporate scandals such as the BP oil spill, the corporate scandal of Barclays and increasing demand from consumers about ethical and responsible business operations have further strengthen the need for engaging in CSR. Below is the Table 1 of all those bodies (both national and international) that are promoting CSR practices in Pakistan.
Table 1: National & International Bodies promoting CSR in Pakistan
S. NO | Government Bodies | Global Standards Bodies | Non Governmental Organizations (NGOs) | Others (Unions, Consultants etc.) |
| 1. | Ministry of Commerce | Global Reporting Initiative (GRI) | Oxfam (NOVIB) | Chamber of Commerce and Industry (CCIP), Pakistan |
| 2. | State Bank of Pakistan (SBP) | International Labor Organization (ILO) | Pakistan Center for Philanthropy (PCP) | Corporate Social Responsibility Center Pakistan (CSRCP) |
| 3. | Securities and Exchange Commission of Pakistan (SECP) | Responsible Business Initiative (RBI) | National Forum for Environment & Health (NFEH) | Triple Bottom Line (TBL) |
| 4. | Ministry of Information Technology | United Nations Development Program (UNDP) | ||
| 5. | Pakistan Compliance Initiative Board (PCIB) | United Nations Industrial Development Organization (UNIDO) | ||
| 6. | Institute of Chartered Accountants of Pakistan (ICAP) | Global Compact Network Pakistan | ||
| 7. | Institute of Cost and Management Accountants of Pakistan (ICMAP) | International Organization for Standards (ISO) | ||
| 8 | National Commission for Human Development (NCHD) | |||
| 9 | National Productivity Organization (NPO) |
All these organization under their own capacity and specialized areas are promoting CSR activities across Pakistan. For example, SECP, SBP and Ministry of Commerce are working on devising the rules, regulations, laws and codes of conducts; Oxfam, UNDP and GRI are facilitating research on CSR and disseminating it forward; ILO looks from the child labor, and gender equality at work perspectives and Chamber of Commerce and Industries connect local companies and different international regulatory frameworks such as ISO 14000, ISO 26000 or SA 8000 etc.
http://www.csrcafe.com/2016/02/CSR-regulators-in-Pakistan.html
