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International Forum on CSR 22 March 2004 Economist Conference @ Ledra Marriott Hotel, Athens

Making the business case for CSR Η επιχειρηματική λογική της Ε.Κ.Ε. Dimitri Papalexopoulos. International Forum on CSR 22 March 2004 Economist Conference @ Ledra Marriott Hotel, Athens. Why it is difficult to make the business case for CSR. Lack of a commonly agreed definition

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International Forum on CSR 22 March 2004 Economist Conference @ Ledra Marriott Hotel, Athens

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  1. Making the business case forCSR Η επιχειρηματική λογική της Ε.Κ.Ε. Dimitri Papalexopoulos International Forum on CSR 22 March 2004 Economist Conference @ Ledra Marriott Hotel, Athens

  2. Why it is difficult to make the business case for CSR • Lack of a commonly agreed definition • Focus of the dialogue on the ethical (rather than the business) dimension • Difficulty in seeing and measuring the benefits • Challenge in quantifying, comparing and benchmarking • Very different motivations and issues by sector and geography

  3. The CEO perspective Most important factors in making the business case for CSR: Reputation and brand Employee motivation License to operate Competitiveness Risk mitigation Source: World Economic Forum CEO Survey 2003

  4. What CSR is about What CSR is about Integrity to build trust Transparency, communication A link to values & strategy A focus on what really matters What CSR is not about • Compliance • Philanthropy, sponsorship • A public relations exercise • A negation of companies’ central goal: value creation

  5. Case study: Titan Cement The business logic of CSR for Titan: • License to operate (e.g. governments, local communities) • Reducing environmental footprint (operating impact) • Mitigation of risk (e.g. accidents)

  6. Case study: Titan Cement Titan values and strategy are linked to CSR: Governing Objective We aim to be a multi-regional, vertically integrated cement producer, combining an entrepreneurial spirit and operational excellence with respect for people, society and the environment. Values • Integrity • Committing to and delivering results • Know-How • Continuous improvement • Value to the customer • Corporate Social Responsibility

  7. Case study: Titan Cement Titan has traditionally sought leadership in CSR issues: • Adoption of a sustainable development philosophy • Reforestation: almost 1.000.000 trees planted • ISO 14001 (since the 1990s) • Various international environmental awards • Health & safety initiatives at the workplace (1960s) • Profit-sharing for all employees (since 1990) • Annual Social Report (since 1983) • Contributions to local communities • Founding member of the Hellenic Network for CSR

  8. Case study: Titan Cement In today’s increasingly demanding environment, Titan has undertaken new initiatives: • School Safety initiative (ΦΑΟΣ: Φροντίδα, Ασφάλεια, Οργάνωση στα Σχολεία) • Post-graduate Students’ Forum (Το Bήμα του Μεταπτυχιακού Φοιτητή)

  9. Case study: Titan Cement Current initiatives: • School Safety initiative (ΦΑΟΣ: Φροντίδα, Ασφάλεια, Οργάνωση στα Σχολεία) • Post-graduate Students’ Forum (Το Βήμα του Μεταπτυχιακού Φοιτητή) • United Nations Global Compact (first Greek signatory)

  10. Case study: Titan Cement Current initiatives: • Member of the World Business Council for Sustainable Development – WBCSD (only Greek member) • Member of the World Business Council for Sustainable Development – WBCSD (only Greek member)

  11. Case study: Titan Cement Current initiatives: • Member of the World Business Council for Sustainable Development – WBCSD (only Greek member) • Core member: Cement Sustainability Initiative (one of 10 global leaders) • Member of the World Business Council for Sustainable Development – WBCSD (only Greek member) • Core member: Cement Sustainability Initiative (one of 10 global leaders)

  12. Case study: Titan Cement Current initiatives: • Member of the World Business Council for Sustainable Development – WBCSD (only Greek member) • Core member: Cement Sustainability Initiative (one of 10 global leaders) • Preparing to report according to Global Reporting Initiative - GRI • Member of the World Business Council for Sustainable Development – WBCSD (only Greek member) • Core member: Cement Sustainability Initiative (one of 10 global leaders) • Preparing to report according to Global Reporting Initiative - GRI

  13. Articulating a CSR strategy Understand and define the specific business case for CSR Frame corporate purpose, principles and values with clarity (and mean it) Present a credible and measurable business case for CSR Ensure consistency and coherence of message Emphasize the social contribution of core business (the business of business is business)

  14. Making the business case forCSR Η επιχειρηματική λογική της Ε.Κ.Ε. Dimitri Papalexopoulos International Forum on CSR 22 March 2004 Economist Conference @ Ledra Marriott Hotel, Athens

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