Social Responsibility and its Development in Colombia
This presentation picks up on the United Nations Framework on Business and Human Rights as an axis for reflection on the challenges and critical issues for the sector, facing the construction of the social license to operate. From this perspective, both the social license and due diligence are critical for the sustainability of business operations. There are a growing number of stakeholders that have expectations regarding the companies and their interaction with the environment. These expectations are reflected in the way Corporate Social Responsibility (CSR) is conceived, what issues are raised by the companies, and how they address them. In complex environments such as the Colombian, human rights work becomes crucial for companies, because its omission or neglect can even block a transaction, receiving a loan, or the sale of the company’s shares on the stock market. Therefore, the concept of social license to operate becomes essential, mainly regarding the company’s key activities. The social license to operate is equally or more important than the legal license, since the sustainability of the operation depends on it. In that sense, the concept of due diligence is very useful because it allows many of the human rights concepts to become real. Due diligence involves maintaining continuous cycles of risk identification, impacts of company actions, development of management plans, review, assessment and permanent adjustments.
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| Format: | Digital revista |
| Language: | spa |
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Fedepalma
2013
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| Online Access: | https://publicaciones.fedepalma.org/index.php/palmas/article/view/10733 |
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