Banks in Ireland operate profitable and successful businesses, but they aim to contribute more than value to shareholders. It is also important to banks to be responsible corporate citizens. In various and contrasting ways they have adopted corporate social responsibility (CSR) strategies and policies.
These help to ensure that they:
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conduct their businesses in an ethical and responsible manner that embraces the principles of honesty, integrity and fairness;
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provide employees with a healthy and safe working environment, one affording equal opportunities in which they are encouraged to achieve and are rewarded for their contribution;
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support and participate in community-based projects and initiatives all over the country at both national and local level; and
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contribute to a better physical environment through various practices that can include using sustainable energy from renewable sources, reducing resource use by reusing and recycling, as well as waste reduction.
Through corporate giving, sponsorship and other practical supports, the banks in Ireland provide a strong support network for a very wide range of activities. Whether in the field of community welfare, education, sports, culture or arts, such activities are essentially aimed at improving social inclusion and the quality of life in the wider community.
It is estimated that, during 2006 alone, banks in Ireland directly committed more than €40 million to such CSR activities.
Such is the scale of activity, it is not practical to list the CSR initiatives of each and every bank in Ireland. However, the following account indicates the principal areas of activity:
Investing in the Community Core themes tend to include supporting and regenerating communities so as to tackle social inclusion. Key actions centre around issues of homelessness, deprivation, community support services, drug abuse – with a particular focus throughout on children.
Facilitating learning At a fundamental level, the focus is on promoting numeracy and literacy skills among all age groups. At the middle level, programmes are in place to further promote people’s talents and abilities. At the next level, incentives and supports are available to allow access by the disadvantaged to third-level education.
Promoting culture and the arts Promotion tends to take two forms as follows: support for arts and cultural events all around the country that allow wide community access and participation; and support for artists themselves to develop and sustain their talents.
Providing access to sports From the local town and village right up to the national level, extensive support is provided to many sports disciplines. Such initiatives are very important building blocks for social inclusion.
Volunteering expertise Activities here reflect a growing focus on facilitating employee volunteer and mentoring programmes to complement other financial supports.
Four broad features are increasingly evident from the collective of CSR activities of banks in Ireland:
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CSR policy and programmes are driven from the top – Board level
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CSR activities feature in banks’ annual reports
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CSR initiatives are delivered in partnership with other bodies – such as relevant charities and non-governmental organisations
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CSR involves staff in its development and delivery