CSR Sri Lanka Receives USAID Support to take Transformative Corporate Social Responsibility forward in Sri Lanka

CSR SRI LANKA launched the project ‘’Stakeholder Collaboration for Sustainable Development’’- SCoSD which was awarded by the United States Agency for International Development (USAID). The SCoSD project spans over two years and seeks solutions relating to Corporate Social Responsibility with sustainability through a wide collaboration of stakeholders. The Project launching ceremony took place on the 31st January 2017 at Ramada in the presence of Ann Marie Yastishock – USAID’S Acting Senior Deputy Assistant Administrator, Bureau for Asia, Dr Andrew Sisson – Mission Director, USAID Sri Lanka and the Maldives, CSR SL members and the Board of Directors, Corporate sector representatives, Officials from the government and civil society representatives. Dr. Andrew Sisson, USAID Mission Director and Mr. Chandula Abeywickrema, Chairman, CSR SL officially launched the project.

As a key initiative of empowering the sustainability in the corporate sector in Sri Lanka with the support and encouragement of USAID, the CSR Sri Lanka (CSR SL) was formed in May, 2013. The CSR SL, at present, is the apex body initiated by 40 leading corporate companies in the country to take on fostering Transformative Corporate Social Responsibility among businesses. It provides the strategic guidance and necessary intellectual and technical resources to bridge the gap between extemporized CSR interventions and creating sustainable value to the economy and society.

Project Stakeholder Collaboration for Sustainable Development (SCoSD) is planned to bring in strong collaboration among business companies, the public sector, civil society, the academia and a wide range of local and international stakeholders to engage in creating sustainable business value through the modern ethos of transformative corporate social responsibility. The modern Corporate Social Responsibility (CSR), often known as Transformative CSR, is the way in which businesses consistently create shared value in society through (i) economic development, (ii) good governance, (iii) stakeholder responsiveness (including, customers, shareholders and employees) and, (iv) environmental improvement. Therefore, CSR, in the global context, is an approach systematically integrated into businesses that build economic, social, human and natural capital. When practised, Transformative CSR reduces the economic costs of business operations including the environmental and social costs.

SCoSD is designed in such way that business companies in the country take on addressing the issues of sustainability. With the USAID assistance the CSR Sri Lanka will create a functional and dynamic CSR cluster of business companies upon which stakeholders are catalyzed and nurtured to develop, validate and implement a National Master Plan for Corporate Social Responsibility in Sri Lanka.

Over the past years, the CSR SL has been advocating on sustainable development through transformative CSR in a number of sectors in Sri Lanka such as the construction , hospitality , agriculture, banking and apparel industries. The CSR SL together with stakeholders held a policy dialogue to identify the national priorities for the corporate sector in CSR. The MAHOGA electronic platform is a revolutionary mechanism initiated by the CSR Sri Lanka to connect the private sector investments with institutions having competencies to implement projects or programs of transformative CSR.