We encourage and guide our multinational corporate clients to embrace corporate social responsibility. Corporate social responsibility is the commitment of businesses to contribute to sustainable economic development by working with employees, their families, their local community and society at large to improve their lives in ways that are good for business and development.
In this increasingly global economy, a strong link is emerging between the public and the private sector. Our corporate social responsibility portfolio focuses on private sector understanding of incentives and pressure points, and improving strategic interactions in the environment in which they operate. Our team provides country-specific diagnostics to help developing country governments work more effectively with businesses, use incentives more strategically in developing plans, and take advantage of dynamic linkages between voluntary approaches and regulations.
Corporate social responsibility and business ethics groups assert that corporations have an interest in leveraging their skills and impact to promote stability in their areas of operation, not only because it is the right thing to do, but also because it makes good business sense. Multinational companies operating across borders should shoulder some responsibility for the effects of their operations on the local environment and population.
The World Bank has a comprehensive program to steadfastly support corporate social responsibility and sustainable competitiveness. We help our clients develop their own justification of corporate social responsibility concepts and why these concepts should be an integral part of corporate and country strategy.