The Commission on Human Rights (CHR) on Thursday, Oct. 3, expressed support to the proposed law that would encourage businesses to also prioritize charitable programs, environmental sustainability, and employees welfare.
By supporting the two bills on the proposed law, "we take a major step towards a future where businesses not only boost the economy but also prioritize the well-being of Filipinos, creating a fairer society for all,” the CHR said in a statement.
Senators Ramon “Bong” Revilla Jr. and Raffy Tulfo introduced Senate Bill (SB) Nos. 2355 and 2722, respectively, on the proposed "An Act Encouraging Corporate Social Responsibility, Providing Incentives Therefore.”
“The Commission recognises Sen. Ramon Bong Revilla, Jr. and Sen. Raffy Tulfo’s initiative in introducing these bills, which help ensure that corporate efforts improve individual welfare and respect human rights,” the CHR said.
It said the bills seek “to promote Corporate Social Responsibility (CSR) by establishing a framework for businesses to use surplus profits for activities such as charitable programs, environmental sustainability, and employee welfare.”
It also said the proposed law would mandate the Department of Trade and Industry (DTI) "to recognise and reward outstanding CSR efforts, motivating companies to excel in their social responsibility.”
“Corporate Social Responsibility (CSR) is the commitment of businesses to support sustainable economic development. It involves collaborating with employees, their families, local communities, and society to enhance quality of life in ways that benefit both business and broader development. CSR encompasses various aspects of business conduct, including corporate governance, environmental protection, social inclusion, human rights, and national economic progress,” it said.
“These bills align with the State policy stated in Section 20, Article Il of the 1987 Constitution, specifically, ‘The State recognizes the indispensable role of the private sector, encourages private enterprise, and provides incentives to needed investments,'" it also said.
"By promoting CSR, SB 2355 and SB 2722 support the Constitutional mandate to encourage private sector involvement in national development. Furthermore, 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,” it added.