2024-08-19 09:20:02
Corporate social responsibility is beginning to enter the Tunisian economic landscape. Although the banking sector has shown some dynamism, the application of this concept still needs to be strengthened throughout the economic structure.
Not long ago, the concept of Corporate Social Responsibility (CSR) entered not only the Tunisian debate on economic and environmental issues but also the practice of Tunisian companies, which showed a growing interest in this relatively new concept.
In fact, CSR is a concept that has been democratized since the 1970s, in response to the concerns of civil society about environmental and social issues. But the concept was introduced long before that, more precisely at the end of the 19th century, by various movements, such as the Protestants and the utopian socialism of Robert Owen, who believed that private appropriation was justified if it served the social good. , promoter of the cooperative movement.
A variant Sustainability
It was not until the 1950s that the concept became a topic of debate, once it penetrated the academic and business worlds, especially with the publication of The Social Responsibilities of Businessmen by Howard Bowen in 1953, in which he first proposed the concept of Corporate Social Responsibility (CSR). In short, CSR is a variant of sustainable development in the context of entrepreneurship. It implies that companies assume responsibilities that go beyond their economic objectives, taking into account their social and environmental impacts. In Tunisia, the foundations of CSR were strengthened by adherence to the United Nations Global Compact of 2000, which encourages companies to play an active role in protecting the environment and combating social inequalities. But the concept was officially introduced by the 2018 Law on Corporate Social Responsibility, which defines this responsibility as the commitment of companies to have a positive impact on society and the environment through transparent management. The text also requires public and private institutions to set aside funds to finance social responsibility projects and provides for the establishment of a Corporate Social Responsibility Observatory.
But in general, several laws have been passed to integrate social and environmental factors into business strategies while respecting international standards. For the public sector, CSR is written into texts such as the Public Procurement Law or the Public-Private Partnership Law, which include sustainable development as an evaluation criterion. The 2015 Public-Private Partnership Law also stipulates that Emphasize the environmental impact of projects. For the private sector, CSR legislation encourages companies to harmonize with the social environment and promote a culture of sustainable development by protecting consumers, respecting competition and establishing an ethic of responsibility within companies.
Dynamics of the industry banking
If progress on CSR in Tunisia remains slow, especially due to the lack of an implementing text, the Tunisian banking sector is showing greater dynamism in terms of social and environmental responsibility, notably driven by Circular 2021-05 of the Central Bank of Tunisia (BCT).
This circular aims to establish a new culture of responsible finance within banking institutions by integrating the principles of corporate social responsibility into their strategies. It requires banking regulators to consider social and environmental impacts in their activities.
This measure has led banks to establish social and environmental management systems to assess the risks associated with their operations. Moreover, this dynamic has been reinforced by the relationship between Tunisian banks and international lenders, who now require an assessment of environmental and social risks prior to any financing. Furthermore, initiatives such as the ESG (Environmental, Social and Governance) reporting guidelines developed by the Tunisian Stock Exchange and the guidelines for the issuance of green, socially responsible and sustainable bonds launched by the Financial Markets Council illustrate the efforts made by Tunisian regulators to integrate CSR into the framework. These tools are designed to assess the risks faced by companies and direct investments towards sustainable projects. With these advances at the regulatory level, CSR has begun to gain strength as a virtuous practice within Tunisian companies, but the entire economic structure still needs to be mobilized to make CSR a lever for economic and social development.
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