How do you update your Corporate Social Responsibility framework?

1 Assess your current CSR performance

The first step is to evaluate how well your current CSR framework aligns with your business goals, values, and vision. You can use various tools and methods to measure your CSR performance, such as surveys, audits, indicators, benchmarks, and reports. You should also seek feedback from your internal and external stakeholders, such as employees, customers, suppliers, investors, regulators, and communities. This will help you identify your strengths, weaknesses, opportunities, and threats in your CSR practices.

2 Review your CSR policies and strategies

The next step is to review your CSR policies and strategies to see if they are still relevant, comprehensive, and consistent. You should consider the current and emerging trends, issues, and expectations in your industry, market, and society. You should also check if your CSR policies and strategies comply with the applicable laws, regulations, and standards. You should update your CSR policies and strategies to reflect the changes in your context, objectives, and stakeholder needs.

3 Define your CSR priorities and goals

The third step is to define your CSR priorities and goals based on your assessment and review. You should prioritize the CSR issues that are most material and significant for your business and stakeholders. You should also set SMART (specific, measurable, achievable, relevant, and time-bound) goals for each CSR issue. You should align your CSR goals with your business goals and communicate them clearly to your stakeholders.

4 Implement your CSR actions and initiatives

The fourth step is to implement your CSR actions and initiatives to achieve your CSR goals. You should assign roles and responsibilities, allocate resources, and establish procedures and processes for your CSR activities. You should also collaborate with your stakeholders, partners, and experts to leverage their expertise, experience, and support. You should monitor and track your CSR progress and performance regularly and adjust your actions and initiatives as needed.

5 Communicate your CSR results and impact

The fifth step is to communicate your CSR results and impact to your stakeholders and the public. You should use various channels and formats to share your CSR stories, achievements, challenges, and learnings. You should also be transparent, honest, and accountable for your CSR performance and impact. You should use credible and consistent standards and frameworks to report your CSR results and impact, such as the Global Reporting Initiative (GRI), the United Nations Global Compact (UNGC), or the International Organization for Standardization (ISO).

6 Evaluate and improve your CSR framework

The final step is to evaluate and improve your CSR framework based on your communication and feedback. You should solicit and analyze the opinions, suggestions, and criticisms from your stakeholders and the public. You should also compare your CSR performance and impact with your goals, expectations, and best practices. You should identify the gaps, challenges, and areas for improvement in your CSR framework. You should then update your CSR framework accordingly and repeat the cycle of updating regularly.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?