The FINANCIAL -- Twelve international and Georgian organizations are joining efforts to promote the concept and practice of Corporate Social Responsibility (CSR) in Georgia. 

The group that officially announced their collaboration today, 9 March, includes: the UN Development Programme (UNDP); the UN Global Compact initiative; the British Council Georgia; Eurasia Partnership Foundation (EPF); the Open Society – Georgia Foundation (OSGF); the International Chamber of Commerce (ICC); the American Chamber of Commerce in Georgia (AmCham), the British-Georgian Chamber of Commerce (BGCC), the French Business Council – Georgia (FBC), ,  the Georgian Chamber of Commerce and Industry (GCCI); the Centre for Strategic Research and Development of Georgia (CSRDG); and the Georgia Employers’ Association (GEA).

The signatory organizations will co-operate to foster inclusive economic development, multi-stakeholder dialogue, ethical principles, and progressive management and governance standards. Through promoting CSR policies, they will encourage the harmonization of business practices in Georgia with those accepted in the West.

The organizations agreed to share information, organize joint events, and to encourage their respective networks to take part in CSR-related activities.

Corporate Social Responsibility, also known as responsible business, is a form of corporate self-regulation integrated into a business model. CSR policy ensures that business responds to public needs and concerns, and takes responsibility for the impact of their activities on the environment, consumers, employees, communities, and stakeholders, and on society at large.

Corporate Social Responsibility is part of business culture in the European Union, USA, and other developed markets and is gradually being adopted by the business community in transition countries.

To date, 36 companies and organizations in Georgia are part of the CSR network promoted by the United Nation’s programme Global Compact. The network includes a number of reputable Georgian and international companies, such as: the Bank Republic/Societe Generale; the People’s Bank of Georgia ; BP; Wissol; Nikora; Geocell; and the United Georgian Technologies (UGT). The network is also open for non-business organizations and academic institutions.

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