Corporate Social
Responsibility (CSR) has always had its detractors. From
neoclassical economists to leading business publications, CSR is
often portrayed as a philanthropic side activity that has no real
impact on core business.
Not surprisingly, during the
recent economic downturn, many financial sector firms have
drastically cut CSR budgets. De Lage Landen has sought to buck this
trend by expanding our strategic investments in this
area.
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De Lage Landen has identified
a number of key factors that underpin this decision. First of all,
the demand for eco-market products, such as environmentally
friendly cars, renewable energy and energy efficiency equipment
will continue to exhibit strong growth.
We believe the leasing
industry has a significant role to play in financing this market.
We also notice that our clients are increasingly focusing on
sustainable innovation in their business, and DLL aims to be a
strategic partner in those endeavours.
We have also introduced CSR
in our risk management procedures by evaluating environmental,
social and ethical risk issues during our client acceptance and
review processes.
Where material risk issues
are identified, we actively engage with our clients to develop
constructive solutions. This approach enhances business
decision-making, strengthens client relationships, and reduces
CSR-related reput
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By GlobalDataOur CSR strategy also strives
to improve our relationships with key external stakeholders, such
as regulators, non-governmental organisations, local communities
and investors. Moreover, we believe CSR can be a valuable tool in
staff engagement and attracting new talent, as well as drive
internal cost reductions through efficiencies in resource
use.
The associated improvements
in our environmental and carbon footprint are added
benefits.
Our investments in CSR are
not devoid of risk. For example, building CSR capacity and
expertise requires investment. Such decisions can be difficult to
justify if returns are hard to quantify and/or require a
longer-term investment horizon, as can be the case with CSR
initiatives.
In the financing of renewable
energy equipment, concerns related to residual values, technology
risk and creditworthiness, for example, can all complicate decision
making.
Perhaps at the heart of our
CSR business case is the view that governments and leading
businesses are increasingly promoting the longer term migration
towards a low-carbon economy.
By embedding CSR within DLL, even in these uncertain
times, we expect to be better placed to deliver enhanced business
value together with our clients and key stakeholders going
forward.
