What are the most important trends in CSR for the next decade?

Understanding that climate action doesn't stand 'away' from the impact on communities and economies has to be the jump that businesses make *as soon as possible*. Micro-solutions in hyper-local situations should be considered alongside the macro-picture of improving the sustainability of supply chains. These two things must run in tandem.

Sanitation: This may seem a trivial or not-so-grave issue but it poses significant challenges with wide implications According to examination of 138 studies encompassing 97,070 young women in India reported by The Times of India, an alarming one in four girls aged between 10 and 19 misses school during their menstrual cycles. The absence is driven by concerns over staining their uniforms, a lack of private facilities for changing, and insufficient access to water and sanitary amenities. This issue is particularly acute for girls with disabilities, who face even more daunting barriers, frequently leading to dropping out of their education. This further results in loss of a potentially skilled workforce that could contribute to the economy.

Industry 5.0 places technology and human at its centre, and thus, the idea of CSR promoting stakeholder engagement will get updated. CSR facilitation gets easy with the support of new technologies. Corporates will start to use AI to design and implement CSR activities, and the availability of big data can be effectively utilised to enhance stakeholder engagement. For instance, a company can use AI to identify the area wich is affected by poverty and utilise CSR to empower those communities.

Climate action requires more success stories like Norway's Electric Vehicle (EV) transition. Geels, an expert in social technical transitions, highlights the need for co-evolution among governments, organizations, and society to achieve sustainability. Norway's EV success, also influenced by high living standards, abundant renewable energy, and favorable environmental policies, stands out as a success case. The country's incentive package featured reduced taxes, toll-free roads, free parking, fast-lane access, and government support for expanding recharging stations. The last fossil fuel car sold in Norway was by May 2022, underscoring the impact of coordinated efforts in fostering climate action and sustainable transitions.

Education| Livelihood As per ET, a new study suggests that only 45% of Indian graduates who apply for jobs are employable, with the skills to meet the industry’s rapidly-changing demands, The "India's Graduate Skill Index: 2023" report published by Mercer | Mettl, is based on evaluations across 2,500 campuses and 440,000 learners. The compounding effect of good education, employability skills, and livelihood is transformative. Good education forms the foundation for success, promoting economic prosperity and social mobility. Employability skills, like adaptability and problem-solving, enhance career prospects. Livelihood, driven by education and skills, generates income and improves lives, benefiting communities and eventually economies

CSR should not be used for soft advertising not for greenwashing the company's products. Foundations set up and run by the company are a no no

DE&I (diversity, equality, and inclusion) are crucial in addressing bias and injustice, and, fortunately, many organizations are actively working towards these goals. Notably, progressive companies like Apple, Fairphone, and Vestiaire Collective go beyond internal DE&I efforts because they know they can't solve DE&I problems inside the company if they do not help solve them in society. So, the practice ADVOCACY to contribute to broader societal change. Apple invests billions in reducing digital inequality among Latin, Black and Indigenous communities in the US, sponsoring movements, and supporting NGOs that influence public policy. Fairphone advocates for a "living wage" for workers, while VC inspires women to enter the technology field.

S’engagement significativement avec les parties prenantes impactées est indispensable à des démarches effectives droits humains. Cela demande de nouveaux réflexes pour les entreprises ; celles qui feront la différence demain seront d’abord celles intéressées à comprendre leurs attentes et créer des espaces de dialogue constructif et de confiance (seules ou collectivement avec leurs pairs) et celles capables d’accepter un certain degré de transparence sur leurs pratiques. Cela peut commencer par la formation systématiquement les collaborateurs amenés à développer des activités ou gérer les risques à l’identification des parties prenantes, ou encore la mise en place de processus de ? médiation de prévention ? au niveau opérationnel.

Stakeholder engagement is pivotal CSR as it ensures a two-way dialogue between a company and its diverse stakeholders. This inclusivity not only enhances transparency but also aligns business practices with societal expectations. Companies can foster engagement through open communication channels, soliciting feedback, and involving stakeholders in decision-making processes. Regular consultations with employees, customers, local communities, and NGOs not only provide valuable insights but also build trust. Genuine efforts to understand and address stakeholders' concerns contribute to the development of socially responsible initiatives.

Cyber security is a major issue and it is amazing that there is so little awareness about how to protect your privacy. Strong curbs on data collection are long overdue

En la próxima década, la adopción de tecnologías como la inteligencia artificial, el análisis de datos y la computación en la nube serán fundamentales para la competitividad. Sin embargo, es crucial abordar esta transformación con un enfoque ético y responsable. Las empresas deben ser conscientes de los riesgos asociados, como la seguridad de los datos y la privacidad, y esforzarse por minimizar la brecha digital. Aquellas que logren equilibrar la innovación tecnológica con la responsabilidad social y la ética, no sólo mejorarán su eficiencia y oferta de servicios, sino que también ganarán la confianza y lealtad de sus clientes y empleados.

Digital transformation has a tremendous impact on society. It's paramount for saving businesses' resources and improve quality of products and services. However, adding a digital component can affect various stakeholder in society. While certain regional efforts are made for better protection of privacy as a possible 'gateway' right, very little is done with respect to cybersecurity, which could be detrimental for individuals. It won't be an exaggeration to say that not enough efforts by businesses in the area of cybersecurity may cost lives. Furthermore, the sourcing of data in digital supply chains remain poorly understood and addressed, in same cases bordering to 'digital colonialism' often in developing countries.

For me social innovation, its not at all the digital perspective of innovation, but the innovative ideas to solve social issues upon to the community social needs along with knowing and understanding human psychology, Social innovation trend will be always one of the top trends on CSR , its non stop, its ongoing, its based on life changing, need to be flexible, updated and friendly/ understandable.

Immersed in community-driven social impact initiatives, the emergence of social innovation within CSR is exciting and hopeful. It signifies a pivotal shift towards businesses as agents of positive change. Collaborative endeavors in tackling societal challenges foster both impactful change and fresh avenues for innovation and market creation. This fusion of innovation and social responsibility signifies a profound evolution in business dynamics.

Inequality For the coming decade, inequality remains a pressing concern with multifaceted dimensions. Economic disparities could widen due to AI and tech advancements, favoring those skilled in these fields. Access to technology, quality education, and healthcare may create divides and even increase the currently existing ones as the progress would be so fast that there will be less time to catchup. Environmental injustices and social biases can emerge as globally, regions may benefit unevenly. However, these technologies also offer solutions, like improving access and creating new opportunities. To address these issues, proactive measures, such as equitable investment, responsible regulation, and shared benefits, are crucial.

Domestic violence and the tragic impact on the next generation is affecting us all. Families that need our support are silently and desperately struggling. Corporate social Responsibility needs to act now

The other aspects are as follows The Embracing sustainability through CSR. Leveraging CSR for 'S' factor under ESG, Integrated reporting under CSR and Sustainability. Standard parameters for measuring Social Return on Investment.

Climate Change has become a comprehensive concept encompassing various environmental issues. However, focusing on the other two planetary crises, Waste and Materials, and Biodiversity loss, emerge as crucial trends demanding strategies beyond greenhouse gas emissions reduction. In Waste and Materials, the Circular Economy, specifically the 10R framework, is crucial in addressing natural resource availability and waste challenges. Similarly, Biodiversity loss requires additional strategies beyond emission reduction, highlighting the need for comprehensive approaches to tackle these environmental challenges. So, I would add these two trends.

Will also be interesting to see how stakeholder capitalism will evolve, this is fundamental for true sustainability. As long as we have shareholder capitalism in the driving seat the notion of corporate responsibility will continue to be skewed.

Polycrisis is the where we are going. No more can we afford to solve the global crisis in silos, working on different problems separating one from the other and being in denial that the crisis is a link chain.