Enhancing strategic and sustainable Corporate Social Responsibility endeavours in SL

Based on sparse research data on CSR projects and outcomes publicly available, it is not clear whether projects have had long term sustainable outcomes.

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Objective of both the Government and private sector is, no doubt, better social, economic, environmental, health, and community upliftment

Globally, Corporate Social Responsibility (CSR) refers to “business self-regulation with the aim of being socially accountable.” From a broader perspective this definition includes improving working conditions, reducing carbon footprints, participating in Fairtrade, and many more actions. On its most basic level, CSR is a manifestation of a business’ recognition of a duty to the world and the potential to be a power for good — Casey Schoff, Ecolytics

SRI Lankan organisations have engaged in informal corporate social responsibility (CSR) activities for over 30 years, though public concern and formal CSR policies have only emerged since the early 2000s. However, SriLankan Cares, a specialised branding and institution for charity by SriLankan Airlines, was established in 2003, representing one of the first such initiatives in the country’s commercial sector.

Some Sri Lankan organisations were involved in informal CSR practices for more than 30 years mainly as informal activities, while public awareness and concern about CSR activities grew in Sri Lanka starting around 2000. Later, in 2013, a revised code of corporate governance by the Securities and Exchange Commission of Sri Lanka (SECSL) and the Institute of Chartered Accountants of Sri Lanka (ICASL) included principles on sustainability reporting, further embedding CSR concepts into the corporate framework.