Last Thursday, the Office of the Embassy of Canada, AustCham, The European Chamber of Commerce and Industry, the European Union, and the British Business Group in Laos co-hosted the 3rd Responsible Business Conduct Forum to share their commitment to and best practices in corporate social responsibility (CSR).
Exchanging information on CSR policies, procedures, and action plans supports further the government of Lao PDR in attracting and retaining quality investors.
The RBC Forum, which attracted more than 100 participants online, saw business leaders share their experiences in implementing CSR activities with members of the Lao private sector, government officials, development partners, international organizations, and civil society. Sectors of focus for the full-day event included Mining, Agriculture, Renewable Energy, and Public Policy.
“Businesses can only flourish when the communities and ecosystems in which they operate are healthy. Many companies now undertake environmental sustainability not just as a legal obligation, but as a business opportunity and moral imperative,” said Canada’s Ambassador to Lao PDR, H.E. Sarah Taylor, in opening the Forum. “Our objective is to work with local business communities, civil society organizations, foreign governments and communities as well as other stakeholders to foster and promote responsible business practices and thus support sustainable economic growth and shared value.”
Ina Marčiulionytë, EU Ambassador to Laos added “During a critical period like the COVID-19 pandemic filled with uncertainty, it is important to stay strongly committed to working together in a sustainable way. As Lao PDR prepares itself to reopen for tourism and attract new investments, to support its economic recovery from the pandemic, the issue of an environmentally and socially responsible private sector has become crucial. Indeed, the private sector has a central role to play in what we call the “Build Back Better” agenda following the pandemic.”
The 2022 RBC Forum featured a series of panel discussions that illustrated the benefits of a strong commitment to CSR. Participants heard that practical and cost-effective CSR measures resulted in sustainable consumption and production, enhanced employee benefits, and could be integrated into international mechanisms such as the Global Reporting Initiative. The forum highlighted that responsible businesses should incorporate CSR measures as part of their business strategy, and be informed by close consultation with local populations.[read more]
