Corporate Social Responsibility
The joint CSR initiative commenced in 2011 as a result of a Collaboration Agreement between the Malta Chamber of Commerce, Enterprise and Industry and Bank of Valletta. The project was aimed at (1) mapping out the conduct and development of CSR initiatives by Maltese companies, (2) giving additional promotion to the concept of Responsible Entrepreneurship amongst the business community and (3) maximising the benefits of CSR to both business and society at large.
The first phase of the project entailed a profiling exercise of Malta Chamber members and the CSR activities in which they were engaged. The information gathered from this exercise was used to populate a detailed database of CSR activities operated by members of the Malta Chamber.
Further to this, research was undertaken to assess the different types of CSR activities conducted and what were the resultant benefits to business. At the same time, the study also shed light on the reasons why some companies were not carrying out any sort of CSR activities.
Consequently, the Malta Chamber formed three CSR working groups made up of companies that were actively engaged in this area. Further to this stage, sub-committees were formed to tackle particular sectors linked to CSR, namely companies with best practices in (1) Environment, (2) Employment and (3) Social and stakeholders.
The main aim of the working groups and sub-committees was to assist BoV and the Malta Chamber with ideas on how to better promote CSR amongst Chamber members and BoV contacts. A further objective was to improve the conduct of CSR activities in Malta by way of (1) governance, (2) delivery and (3) communication.
The Malta Chamber in collaboration with BoV also organised a number of activities to divulge information on CSR and promote existent best practices amongst the business community.
Five CSR-related articles were carried in The Commercial Courier, which is the Malta Chamber’s bi-monthly magazine while the information stemming from the project was further disseminated through attending events and a TV programme.