The 4 pillars of sustainabilitY
The Invest Islands team considers our corporate social responsibility (CSR) to be an essential and integral part of our sustainable business practices vision. It involves our company’s social responsibility and the impact we have on society.
Our Commitment to CSR
Companies that engage in socially responsible business consider the social and economic impact of all their decisions, while also taking into account the interests of their stakeholders. These stakeholders include all surrounding and affected parties: employees and clients, local residents, suppliers, government, investors, the entire (international) supply chain, as well as the wider society.
According to the most widely-accepted definition by Kotler and Lee (2015), we define CSR to be:
“Creator of value: socially, ecologically and economically. This is referred to as the 3 Ps: People, Planet and Profit”
– United Nations world commission on environment and development (Oxford University press, 1987)
CSR plays a role in all company processes, from purchasing to marketing and from production to Human Resources Management. Social issues emerge in every aspect of an enterprise.
Intertwined with the interests of their different stakeholders, including the people involved and other companies and organizations.
This is Different for every company. The measures implemented will depend on the company’s size, sector, corporate culture and business strategy.
It is Considered a process, not a final destination. Goals may change with time and the decisions a company makes along the way.
In the international context, governmental bodies provide several guidelines on CSR such as:
- Global Reporting initiative; and
- OECD guidelines for Multinationals enterprises.
However the practical implementation differs per country and cultural context.