Corporate Social Responsibility
"People are going to want, and be able, to find out about the citizenship of a brand, whether it is doing the right things socially, economically and environmentally."
Chemanex Group is founded on the principle of fulfilling the responsibility of institutions towards the community it has been established upon. The Group holds itself accountable to the society it derives its resources from. We are nurtured and in turn nurture the stakeholders of our Company. Therefore Corporate Social Responsibility (CSR) and Corporate Social Performance are imperatives in our business model. We practice and comply with local and international stipulations of statutes and ethical standards governing CSR regulations. The Company has started reporting as per the integrated reporting style from the current financial year while also being a member of the UN Global Compact. Our stringent requirements raise substantial concerns regarding business activities with our consumers, employees and the community as well as our other stakeholders such as the environment. Taking these precepts of CSR a step further, we have also begun engaging in activities that enhance community growth while voluntarily eliminating practices that could be harmful to the environment, irrespective of legal obstacles or cost. We are currently improving our policy framework and increased transparency in order to progress towards achieving in advanced status for the next accounting period. We aim for higher standards of corporate sustainability performance and disclosure based on the blueprint for corporate sustainability, leadership and the UN Global Compact Management Model.
Our CSR Philosophy With these principles in mind we have given public interest a place of great credence in our corporate decision-making process. This practice has paved the way for us to become a sustainable and responsible business entity. Stakeholders make the demand that we conduct all business practices with a firm base on the principles of ethics, values, transparency and accountability. Therefore we are currently introducing the dynamics of ‘ethicism’ and ethical stewardship into our daily operations. We have also introduced the concept of integrated reporting making a responsible, translucent style of management an imperative. Our procedure is in keeping with that which is advocated by The World Business Council for Sustainable Development which promotes that “Corporate Social Responsibility is the continuing commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large”.
Our Corporate family is embedded in the ideals governing civic duty. We understand and adhere to the fact that social responsibility is an integral part of the wealth-creation process, which if managed efficiently should enrich the competitiveness of businesses and maximise long term value of wealth creation to society. Thus we strongly adhered to the principle that CSR should be practiced even more vigorously during financial turbulence.
Our Duty to the Community Chemanex has put its stamp on the international map. We are recognised as industry leaders not simply in the Sri Lankan context but on a global arena. Thus our business practices and code of ethics and the responsibility that we automatically accrue from this recognition has a reach beyond simple geographical boundaries. It caters to the far larger more complex dynamic of international trade.
We practice ethical competitiveness and an enhanced holistic sense of purpose through inclusive development based on strategic partnerships. The role of businesses in the overall development process of a country was limited to the narrow alley a way of CSR projects. This is then mainstreamed into the Company policy. We are taking steps to move out of this concept. This tunnel vision of a corporate’s responsibility to its community is seen by us as a limitation on our potential. Thus we have gone beyond even the principles attested by the triple bottom line which attempts to ensure that the private sector is seen as ‘good’ players thereby enhancing market share or profitability through social responsibility. Chemanex Group aims to take CSR to the next frontier adopting these values as a way of corporate governance and corporate virtue in all daily administrative activities. Additionally in keeping with the integrated reporting style we have introduced elements of CSR and sustainability to all aspects of our functioning.