HSBC CSR

HSBC Corporate Social Responsibility

HSBC Corporate Social Responsibility

Introduction

Corporate social responsibility has been a recognized as an essential component of organization existence in contemporary age. CSR has been recognized as a fundamental objective of HSBC success in its 140 years of history. HSBC success is the main reason of investments and initiatives by HSBC directed towards employees, customers, and other stakeholders. HSBC has actively taken CSR as an opportunity to strengthen image in external communities that not only strengthened the brand equity of company but also added significant value in terms of business growth. CSR Program at HSBC

Corporate Social Responsibility (CSR) is decisive to HSBC success in China and in global countries. HSBC believes that CSR does not concern only with protecting the environment but it requires adaptive approach towards society, environment, charitable donations, and building approaches for community development (HSBC, 2010). HSBC tries maintaining the balance between the environments, society its corporate business.  HSBC vies the CSR activities as the as management principle of business sensitively and responsibly for long-term oriented success (Hopkins, 2007). HSBC claims that it is not concerned with the goals making profits only. One of the editorials from the president of HSBC Group said that HSBC believes in building trust and cooperation with society to determine success of HSBC in future (Filho, 2009). HSBC is concerned with addressing the expectations of shareholders, employees, customers, and stakeholders.

CSR Activity Domains

CSR Activities at HSBC are not limited to one domain. Instead it is an integrated approach in multiple domains. HSBC Group emphasize on education and social development, consumer education, ethical banking, corporate governance, environmental protection, and HSBC Climate Partnership (HSBC CSR, 2010). Consumer education is related to providing investment to help consumers understand financial investment and associated risks (Idowu, 2009). 

HSBC has taken active actions for the social development of the people, addressing the risks, vulnerabilities, and crimes that are arising in banking industry. Protection of environment is also main focus of HSBC as a functional domain of its CSR activities. In countries like Pakistan, India, and Malaysia, HSBC has initiated different projects to control environmental pollution, such as water treatment plant, dangerous gases control related seminars etc (CSR Report, 2009).

HSBC believes in social and economic development of people by creating employment in under-developed countries. These countries include China, Philippines, Malaysia, India, and Sri Lanka where HSBC has contributed in creating 20,000 jobs directly and indirectly (CSR Report, 2009). ...