What is corporate social responsibility?

Corporate Social Responsibility (CSR) covers many areas of how a business organisation is managed. According to the ISO26000 guidance on social responsibility they include: corporate governance and management practices, relationships with consumers, customers, counterparties and suppliers, human rights, environmental protection and social engagement of businesses.

Development which satisfies the present needs without compromising the ability of future generations to meet their own needs. It combines the goals of high quality of life, good health and well-being with social justice and the ability of Earth to sustain life in its full diversity. The social, economic and environmental objectives are correlated and mutually supportive ¹

¹PN-ISO26000:2012 standard

Sustainable development is a wider concept but companies often use it interchangeably with CSR. Hence, the defontiions and terms are not as important as the idea behind them. To put it simply, of crucial importance is to ensure that companies, organisations and all market participants carry out fair and ethical operations, take into account their impact on the natural environment and the expectations of their stakeholders.

It is a global development agenda adopted by the countries of the world until 2030. Businesses, universities and non-governmental organisations are also involved in the implementation of the gaols. Your company can also help to achieve them. Indvidual actions of different entities can have an immense effect on a global scale.

Managing business operations in conformance with the social responsibility principles is voluntary, however, for a growing number of companies it is becoming a must due to the expectations of their employees and customers. Additionally, many CSR aspects are regulated by the legal regulations or industry standards in force.

The main principles of corporate social responsibility are set forth in the ISO26000 Guidance on social responsibility and include: accountability, transparency, ethical conduct, respecting stakeholder expectations, conformance with the law, respecting international standards and human rights.

Disclosure of non-financial data offers a possibility of getting to know a company better and understanding its decisions. Such information is often expected by the shareholders, future employees and customers.

The Sustainability (CSR) Policy of Santander Bank Polska was implemented. It defines our approach to sustainable development, the main goal of which is to manage the social and environmental risk and to build long-term value for all stakeholders: employees, customers, business partners, shareholders and communities.

The document contains a number of voluntary ethical, special and environmental commitments which go far beyond the requirements imposed by the applicable legal regulations. The policy is complemented by a number of other, detailed regulations adopted by the bank, including:

• Climate Change Policy
• Human Rights Policy
• Corporate Volunteering Policy
• Sector Risk Management Policies applicable to sensitive sectors, including the arms, energy and wood industries.

The policies influence our business decisions and the requirements we have towards prospective customers from the sensitive sectors.