PBW on CSR

Paul Barry-Walsh, Fortress Chairman and the Founder of Fredericks Foundation, is a life long believer in the importance and value of Corporate Social Responsibility. 

His thoughts on the subject:

“Capitalism is the engine that has delivered huge prosperity around the world.

Other systems can grow economies but appear to lead to restrictions in freedoms and are often led by authoritarian regimes.

Capitalism is not perfect, however, and is in danger of being replaced by something much worse. We need an independent and robust legal framework that ensures that all can benefit. The leaders of business also need to give back to the communities from which we have grown and in which we thrive.

We are all experts at telling Government , the police, teachers and Judges what they should do but as Muhammad Yunus, the Nobel Peace Prize Winner, recommended to me, “Think what you can do? Be the example”.

So, what can I do?

As business owners and leaders we can sign up to and operate our businesses according to 3 very simple principles?

  1. Give at least 1% of profits to help those most at need in Society. Encourage employees to become involved in the community and where possible facilitate support for employees to help. For instance, giving time for community projects, sports clubs, helping aged, disabled and socially disadvantaged.
  2. Train and develop employees to assist in them realising their full potential.
  3. The Chief Executive will never earn more than x10 the average salary of the firm.

These principles alone will not save capitalism but can contribute to a fairer stronger society.

These are the principles that Fortress is run by.”