A National Corporate Social Responsibility (CSR) Policy was, yesterday, launched in Accra.

The goal of the policy is to promote the optimization of the socio-economic and environmental impact of investments and activities of businesses, the public sector, civil society, traditional authorities and other stakeholders towards the sustainable development of Ghana.

In a key note address to launch the policy, the Minister for Trade and Industry, Dr Ekwow Spio-Garbrah, noted that in the absence of a clear policy on CSR, individuals, advocacy groups and public agencies seeking to hold corporations responsible to their social responsibilities usually encountered difficulties.

Dr Spio-Garbrah said the need to draft a policy on CSR was, therefore, a response to the need to streamline CSR activities in the country.

The CSR policy, he added, would serve as a readily-available source or reference document on CSR which would help companies and organisations get a better understanding and orientation on CSR in the country.

Professor Dan Ofori, a Lecturer at the University of Ghana, legon, in a presentation on the policy, noted that CSR initiatives enhanced competitiveness, access to market, improved internal processes, especially supply chain management and also drove innovation in products and services.

According to Prof. Ofori, empirical evidence suggested that CSR was a social investment that maximised the value of wealth creation to the communities in which entities operated as the communities stood to benefit immensely from partnering with entities to engage in CSR activities.

He said the policy would not only encourage ethical and responsible behaviour from entities, but would also serve as guidelines on CSR for all actors in planning, implementation, evaluation, rewarding and performance reporting.

In his remarks, the Chief Director of Ministry of Trade and Industry, Mr Dawarnoa Baeka, called on the media and civil society to play their watchdog roles so that citizens would become agreed beneficiaries.

Source: Government of Ghana