Promoting CSR in ASEAN
Sustainability expert John Elkington proposed a corporate social responsibility or CSR approach based on the triple bottom line - Profit (Economic), People (Social) and Planet (Environment), or the 3Ps as it’s commonly known. Elkington suggests that businesses need to take into account of not only profits, return on investment and shareholder value but also social and environmental impacts of decisions and actions they are involved in.
The triple bottom line captures the essence of sustainability by implying that CSR is about businesses doing well and doing good. It also suggests that businesses’ long term success means sustainability goes beyond corporate sustainability to encompass sustainability of a country, a region and a globe.
In ASEAN, promoting responsible business or CSR is one of key strategies to achieve “justice and rights” as highlighted in the ASEAN Socio-Cultural Community Blueprint 2009.
The Blueprint has identified four actions to be taken by ASEAN countries.