Corporate social responsibility: a business imperative

Preba Greenstreet, Corporate Relations Director of Guinness Ghana Breweries Ltd (GGBL), on Friday September 13 re-iterated the importance of Corporate Social Responsibility (CSR) for businesses.

She said this as the Chairperson of the inaugural (CSR) Public Lecture organised by the CSR Foundation and the United Nation's Global Compact Network.

The Lecture, sponsored by GGBL, under the theme 'The Business Case for Corporate Social Responsibility' was delivered by Professor Wayne Dunn, Professor of Practice in CSR at McGill University and a founding member of the McGill University's Institute for the Study of International Development.

Opening the Lecture, Ms. Greenstreet said "Case studies have shown that whilst profit and shareholder value may be the end game, responsible businesses have attracted more investors, reduced their risks and addressed stakeholder concerns by creating and perpetuating shared value. At GGBL, we understand too well the inter-connected relationship between business and communities and this drives our commitment to improve livelihoods through the pursuit of our 'Local Raw Material' initiative in addition to our Water of Life programme which seeks to provide access to clean drinking water to vulnerable communities across the country."

Sharing her thoughts on how businesses can maintain a competitive edge through breakthrough win-win initiatives, she cited the example of Ruut Extra Premium Beer, Ghana's first cassava based beer and GGBL's latest innovation.

She said "our newest innovation Ruut Extra Premium Beer was born from an industry supported initiative and an astute partnership with the Government of Ghana and small holder farmers. We, providing a guaranteed off-taker for the farmers' produce enabling them to support their families and to engage in viable enterprise, they providing us with a sustainable source of local raw materials. With our LRM initiative we have integrated our aspirations for local communities within the core of our business proving that 'Doing Good is Good for Business'".

Professor Dunn, demonstrated, through research and business case studies how the global environment is changing and how consumers, investors, governments and employees are becoming increasingly environmentally aware in their purchasing, investment, regulatory and choice of companies to work for.

He said "we can no longer deny the fact that doing good is a competitive advantage."

Dr. Joyce Aryee, Chairman, Patrons of the CSR Foundation indicated that the CSR Foundation intends to make the lecture an annual event and commended sponsors of the inaugural lecture. She encouraged businesses to invest in local communities.

The CSR Foundation presented special awards to corporate bodies who periodically file their CSR performance returns to them.