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Stakeholder Engagement

Adopting a multi-stakeholder approach is the key to success in CSR. The main drivers of the CSR agenda come from the issues of importance to the many stakeholders who are affected by or can affect a company’s business. These include:

Demands from all stakeholders for more transparency and accountability in business practices
The importance of intangible assets (brand and reputation) and the risks posed by poor CSR
The need to attract and retain talented employees
Supply chain pressures and the use of materials and components
The need to respond to and engage with regulators
The growing influence of non-governmental organisations (NGOs)
The need to rise to the challenge posed by active, technology aware consumers
Demands for greater CSR performance indicators in international financial markets

These challenges pose serious non-financial risks for companies but on the other hand they also offer significant opportunities.

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