All Articles About Economic, Social & Cultural Rights
We found 66 entries; most recently published at the top.
BSR Insight Article: (Not) Sharing the Benefits: A Business Risk?
Jessica Davis Pluess, Manager, Research
Ernst & Young's most recent annual report of business risks facing the mining and minerals industry has a notable addition this year: "sharing the benefits." Read more
BSR Insight Article: Gross National Happiness: A New Business Model for Holistic Development
Celine Suarez, Manager, Advisory Services
In 1972, the king of Bhutan declared that national happiness would be prioritized over economic growth, and the country adopted Gross National Happiness (GNH) as the primary indicator of its citizens' quality of life. Since then, others—including the UN, which hosted a meeting in April to define a new economic paradigm based on well-being and happiness—have followed Bhutan's lead. According to the Columbia Earth Institute's World Happiness Report, despite major technological and economic developments in the United States, citizens have not reported increased happiness: Uncertainty and anxiety are high, social and economic inequalities have increased, and confidence in government is at an all-time low. Is happiness a quest for financial or material gain? Or is it a quest for equitable, sustainable development and personal peace? BSR will explore these questions in a Conference session with Isabel Sebastian, a Bhutan-based business and sustainability expert who is implementing a business model based on GNH. Join us to discuss how companies can rethink management models to deliver on happiness for all stakeholders. Read more
BSR Insight Article: Community Engagement With Free, Prior, and Informed Consent
Jasmine Campbell, Former Manager, Advisory Services
Based on a workshop BSR held in June, we have launched a new report that discusses how extractives companies can use free, prior, and informed consent (FPIC) to engage affected communities throughout project development. The report defines FPIC and discusses best practices for stakeholder engagement that can be applied within the company and with external stakeholders: Internally: Read more
Report: Engaging With Free, Prior, and Informed Consent
Jasmine Campbell, Former Manager, Advisory Services
Based on a workshop BSR held in June, we developed a report that discusses how extractives companies can use free, prior, and informed consent (FPIC) to engage affected communities throughout project development. Read more
BSR Insight Article: Entering Responsibly in Risky Markets: A Look at Myanmar
Chris Nolan, Associate Director, Advisory Services Jeremy Prepscius, Vice President, Asia-Pacific
Market entry in high-risk, transitional countries can often be characterized by significant and ongoing political, economic, and legal change and uncertainty, as well as profound opportunities for business. In such environments, business can contribute tangibly to a country's national development. But the stakes are high--for the company and the country. When countries are at their most vulnerable in their development trajectory, changes enacted are tenuous, and trusted, committed external partners--including business--are critical. Though companies are often tempted to rush in for fear of not "getting in at the ground level,"responsible businesses must consider the investment's social, economic, and environmental risks and opportunities even as they look at core business prospects, not as an afterthought. Short-termism is a perfect way to ensure investment booms in such a market spell doom for a country's prospects. Today, no country embodies these risks and opportunities more than Myanmar. The political and economic reforms sweeping the country have dramatically shifted its outlook and much of the world's perspective toward it, creating once unthinkable opportunities for business. While opportunities in sectors ranging from oil and gas to manufacturing, travel and tourism, information and communications technology (ICT), financial services, and agriculture may appear boundless, the risks of investing in this long-isolated nation are substantial, given the continued predominance of the military in politics and the economy, the vastly underdeveloped financial and legal/regulatory institutions, the weak rule of law and lack of an independent judiciary, endemic corruption, and poor human and labor rights records. Read more
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