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University of Vaasa - Vaasan yliopisto

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Figure 1: Matrix with types <strong>of</strong> stakeholder dialogue (Green, Hunton-Clarke<br />

2003)<br />

246<br />

Solely stakeholder dialogue at low stages <strong>of</strong> involvement and participation will not<br />

utilise the full potential <strong>of</strong> this instrument. Currently, stakeholder involvement in<br />

CSR activities <strong>of</strong> firms is (<strong>of</strong>ten) weak and lacks decisional stakeholder involvement<br />

and dialogic participation. Ongoing stakeholder dialogue with stakeholder<br />

committees could be a fruitful process in order to really contribute to sustainable<br />

development. Participatory processes with stakeholder committees have proven to<br />

work fine in other contexts e.g. the development <strong>of</strong> national sustainable development<br />

strategies in Finland 6 . Currently, the institutional framework is insufficient (how to<br />

finance the time needed <strong>of</strong> the stakeholders in the participatory process; who to be<br />

invited any way in such a CSR committee). The proposed approach as outlined in the<br />

subsequent chapter presents one possibility <strong>of</strong> institutionalised framework for a<br />

strong stakeholder-based definition, planning, implementation and evaluation <strong>of</strong> CSR.<br />

Evaluation <strong>of</strong> CSR-for-SD <strong>of</strong> current CSR practices<br />

This section investigates the potential utilised <strong>of</strong> two <strong>of</strong> the most <strong>of</strong>ten applied CSR<br />

practices (CSR Reporting and Stakeholder dialogue) with regards to the challenges<br />

6 The Finnish National Commission on Sustainable Development (FNCSD)<br />

http://www.ymparisto.fi/default.asp?node=4412&lan=en

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