Development Crossing

Corporate Social Responsibility (CSR) and Sustainability

At the Day 1 plenary session of the CSR Expo, Sen. Manny Villar shared his plans for a CSR Bill.  Of course tax incentives are part of it, but it will also mandate foreign and domestic corporations to allocate a certain percentage (he's playing around with 3% of declared income, if I'm not mistaken) for CSR projects. That's the part that raises the red flag for me.


Already, companies spend more than 3% on their CSR projects, so compelling them to do so with legislation feels moot. What concerns me is the possible loophole to channel corporate funds to phantom CSR projects. Or the gross development of unsustainable CSR projects for the sneaky purpose of getting tax incentives.


Am I just being paranoid?

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