lot has been written about Corporate Social Responsibility (CSR), some describing it as nothing more than a trend

but others convinced that it is an entirely new way of doing businessthat is, if youre interested in a competitive advantage over other companies. Social responsibility is what some of the most admired and respected companies in the world have in common. Usually, CSR is a series of particular elements that when strung together make up a distinct philosophy: paying fair wages, being aggressive about human resources development, giving back to society in some concrete way and whatever else would put a particular company in the publics favorsometimes even as a source of national pride. Its an enviable position, because this type of company attracts the most qualified professionals, investors interested in corporations with social awareness and societies determined to assume longterm commitments. So its natural to ask: If CSR is so clearly beneficial, why is that more companies dont implement it? The truth is that some are not interested or are simply not ready yet to change the way they think about doing business. Most international investors in the Dominican Republic, however, have begun to realize that, with 42.2% (2004)1 of the population living below the poverty line, social investments need to be part of their business implementation strategy. This is especially true in areas such as healthcare and education that overwhelm the local authorities capacity and simply must be readdressed in order to obtain better and more tangible results in the long run. A recent business poll conducted by GlobeScan on the state of sustainable business worldwide shows that climate change and human rights are among the most significant priorities. Those surveyed were increasingly optimistic that sustainability would be a core aspect of business strategy in the years ahead. Gaining public trust will require demonstrating the positive impact of their work as well as innovations for sustainability. Nearly nine out of ten people said their companies sustainability budgets would stay the same or increase next year, and most companies either measured the ROI of their sustainability efforts or plan to do so soon.

More than just a trend

Marta Fernandez shares her expertise on CSR issues in the Dominican Republic through an overview of the sector and its importance for both, private and public institutions alike In a country where almost 40% of the population lives below the poverty line, it is essential for private sector companies & international investors to further increase their CSR initiatives for the wellbeing of the Dominican population

Marta Fernndez Marzal President & CEO of CSR Consulting SRL President of AMCHAMDRs CSR Committee

Why CSR in the DR? Its hard to say for sure where CSR originated in the DR, but the same companies would probably come to mind among most Dominicans on the subject of sound practices in the areas of human resources, community improvement, environmental protections, and social awareness overall: - Grupo Punta Cana has been implementing CSR initiatives for several decades now; the Punta Cana Foundation and Ecological Foundations have signed strategic alliances with organizations including Save the Children - Caminantes por la Vida (Crisol) - The Bon-Macadamia Case

A recent report on CSR in the DR2 highlights the following results: Local companies are not making the most of their social investment potential. Dominican companies are at a disadvantage alongside international competitors that have adopted CSR as a competitive strategy because not having a CSR platform often cuts off access to certain markets that have established it as a selection criteria for business partners or associates. Access to capital markets is also at risk of being cut off for those companies that do not adopt CSR practices

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