MANILA – The Commission on Human Rights (CHR) on Thursday gave its full backing to the proposed measures seeking to promote corporate social responsibility (CSR) in businesses for sustainable economic development.
Senate Bill (SB) Nos. 2355 and 2722 titled “An Act Encouraging Corporate Social Responsibility, Providing Incentives Therefore” have been filed by Senator Ramon Bong Revilla, Jr. and Senator Raffy Tulfo, respectively.
Both bills seek to promote CSR by establishing a framework for businesses to use surplus profits for activities such as charitable programs, environmental sustainability, and employee welfare.
They also mandate the Department of Trade and Industry (DTI) to recognize and reward outstanding CSR efforts, motivating companies to excel in their social responsibility.
CSR involves collaboration with employees, their families, local communities, and society to enhance quality of life in ways that benefit both business and broader development.
It encompasses various aspects of business conduct, including corporate governance, environmental protection, social inclusion, human rights, and national economic progress.
The CHR noted that the bills align with the State policy stated in Section 20, Article Il of the 1987 Constitution recognizing the indispensable role of the private sector, encouraging private enterprise, and providing incentives to needed investments.
“By promoting CSR, SB 2355 and SB 2722 support the Constitutional mandate to encourage private sector involvement in national development,” the CHR said in a statement.
“They integrate a human rights approach by ensuring that business practices contribute to social inclusion, thus reinforcing the State’s commitment to both economic and social progress.”
The Commission emphasized that support for such bills allows businesses not only to boost the economy but to prioritize the well-being of Filipinos. (PNA)