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Sustainable Business Practices of IDLC
Contrary to common understanding, Corporate Social Responsibility or CSR involves a much wider scope of activities than simple donations and charitable activities, more appropriately termed as Corporate Philanthropy. Rather CSR refers to a company’s responsibility towards the environment, community and society as a whole in which it operates. A responsible and sustainable business organization is one that does not only share profits with its stakeholders, but also ensures minimum negative impact on its surrounding environment, both ecological and social, through its products, policies and practices. In other words, a business is considered responsible and sustainable when it meets its present needs without compromising the needs of its future generations, through integrating the 3 P’s: People, Planet and Profit.

Being a financial institution, IDLC is in a much better position to promote sustainable business practices among its stakeholder groups, especially our clients and employees. As such, IDLC has always been keen to commit its resources not only to maximize its own profitability, but also to offer better quality of life to both its internal and external stakeholder groups.

As part of this practice, IDLC is renewing its commitment to contribute towards greater environmental and social sustainability by undertaking a number of initiatives in various areas. Initially staring within our own organization, IDLC will eventually reach out to its external stakeholder groups as well.

To coordinate our sustainability initiatives and move forward in a structured manner as per globally acceptable standards, IDLC has become signatories to a number of local and international initiatives promoting sustainable business practices:
UNEP FI (United Nations Environment Programme Finance Initiative)
IDLC is proud to become the first member from Bangladesh to UNEP FI (United Nations Environment Programme Finance Initiative) – a voluntary initiative working with over 200 financial institutions worldwide to incorporate environmental sustainability practices within their operations.
www.unepfi.org
UNGC (United Nations Global Compact)
Since 2007, IDLC has been a signatory to UNGC (United Nations Global Compact) – the largest voluntary initiative in the world to promote sustainable practices among business houses, civil societies, academic institution, business associations etc., through ten globally accepted principles in the areas of Environment, Labor, Human Rights and Anti-corruption.
www.unglobalcompact.org
CSR Centre
IDLC has become the member of CSR Centre in Bangladesh, an initiative of BEI (Bangladesh Enterprise Institute) which promotes responsible business practices within local corporate houses, and acts as the local network of UNGC in Bangladesh.
www.csrcentre-bd.org
Since sustainable business is a comparatively new concept in a developing country like Bangladesh, adaptation to a new way of doing business will certainly call for a lot of time and effort from all our stakeholder groups, especially our management and employees. However, IDLC is confident that our continuous drive towards becoming a sustainable business organization will lead us towards better performance from a financial, ecological and social perspective, and in the process, establish us as a truly responsible corporate citizen of the country.
To know more about our Sustainability Initiatives, please contact us at csr@idlc.com
For more information on our other products and services, please contact our relevant department.