As the economy booms, Corporate Social Responsibility (CSR), once unheard of on Asia’s shores, is becoming increasingly ingrained in the fabric of its multinational corporations.
On Friday May 20th, the leading lights of CSR in Asia will come together at the 10th annual CUHK MBA CSR Conference, hosted by a committee of bright young MBA students from Hong Kong’s CUHK Business School. The aim: to encourage Asian companies to push for sustainable development and positive societal change by integrating CSR at the center of their business models.
“For Asian companies, CSR is a must,” says Henry Qin, a current MBA student at CUHK and president of the CSR conference organizing committee.
“Every company should bear the responsibility of conducting sustainable business, and, in order to become future business leaders, MBA students should have this idea in mind,” he says.
Henry has had a personal connection with CSR from an early age. Born into a middle class family in inner China, opportunities to go overseas were limited. Yet after his undergraduate studies he moved to work as a volunteer teacher in India, and the experience opened his eyes.
“CSR gave me the opportunity to sail the world,” he says. “When I was at college, I didn’t know CSR at all, but when I started working, I noticed how many Chinese companies are using CSR in order to grow their overseas business.”
Asian companies still lag behind the West in terms of their adoption of CSR. Yet while working as a consultant in Kenya, Henry (pictured right) witnessed first-hand how some Chinese companies are beginning to incorporate CSR into their business strategies; providing technical training for young Kenyans on the ground as well as scholarships to study in China.
While CSR is often seen as a brand-building, PR tool, a successful CSR project can lay the groundwork for years of future sustainable development. Brian Ho, a conference speaker, CUHK alumnus and sustainability leader at accounting giant Ernst & Young (EY), is more attuned than most to the need for the promotion of CSR in Asia.
“The environmental, social, economic landscape is changing very quickly and climate change is putting our economy at risk,” he says. “It’s necessary to have a paradigm shift in how our economy operates; how we produce and how we consume.”
With this in mind, he helped to form EY’s Helping Hands, a Hong Kong-based volunteer corps who collaborate with NGOs to generate environmental and social impact in local communities.
“We make an effort to beautify our environment, minimize the negative effects of our carbon footprint, and we are committed to educate our people to be environmentally friendly and socially responsible,” he says.
EY is something of a leader in CSR. “Building a better working world,” is both the historic British firm’s tagline and its purpose. Yet while significant strides have been taken in the past decade, Brian (pictured left) admits that pushing for CSR to be incorporated into business models in Asia is still a challenge.
“Compared to the western world, where the discussion on CSR has become a common practice, there is still an awareness gap in Asia,” he says.
The CUHK MBA CSR Conference goes a long way to filling that gap. Panel discussions, speeches from CSR experts and entrepreneurs are all intended to highlight the increasing need and want for CSR in businesses in Asia.
“It's a very good platform to learn from others and to meet future business partners,” Henry explains.
“Steve Jobs said that life is about collecting thoughts,” he continues. “That’s what this conference does.”
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