When Hurricane Dorian finally finished battering the northern islands of the Bahamas in September, the country was left unrecognisably devastated. The Grand Bahama and Abaco islands were hardest hit, flattened and flooded, leaving over 70,000 homeless and resulting in a death toll that is currently over 50 and rising.
In the wake of the tragedy, regional and international charities, agencies and governments scrambled to help – lending resources, supporting rescue efforts and donating much-needed funds. Joining the recovery efforts were some of the biggest names in Bahamian tourism. Royal Caribbean, Sandals and the Bahamian mega-resorts Atlantis and Baha Mar, all pledged their financial support as the country began the hard work of repair and restoration.
Corporate philanthropy is nothing new to the Caribbean, but its effect and influence is being felt in more and more sectors as the region’s challenges intensify. Big brands in a range of industries, from tourism to banking, are increasingly working with the third sector to spread the wealth, knowing that what’s good for the community, is also good for its private sector partners.
CSR
Corporate Social Responsibility (CSR) is a business model built on sustainability. It recognises the power of businesses to affect social and environmental change, and their responsibility to do so. But, of course, the private sector is motivated by profit, and corporations aren’t just embedding CSR into their infrastructure to prove their ethical credentials. As consumers become more aware, more discerning and more attuned to social justice issues, they are demanding more from the business world, holding companies accountable for their positions on a range of topics, from ethical sourcing to charitable donations.
A recent study from consulting firm Cone Communications found that 63 per cent of American consumers want business to drive social and environmental change, and 87 per cent will purchase a product because a company advocated for an issue they cared about. On the flip side of this, 76 per cent would refuse to purchase a product if they felt the company supported an issue contrary to their beliefs.
In the Caribbean, a strong culture of CSR can mean the difference between a business thriving or shutting its doors. In small island economies, there is a narrower gap between corporations and the consumers they serve. Missteps are more apparent and good deeds do not go unnoticed.
Regional examples
Royal Caribbean donated US$1 million, Baha Mar resort has set aside US$2 million, Atlantis Paradise Island and the Sandals Foundation established their own donation platforms. These key players in the Bahamas’ tourism industry were quick to respond to the Hurricane Dorian crisis, and other hotels soon followed suit as the Caribbean Hotel and Tourism Association launched the ‘Caribbean Hotels Unite for the Bahamas’ fundraising initiative.
But it doesn’t take a hurricane to inspire philanthropy in the hotel sector. Sandals has been a long-term donor to the Caribbean through its non-profit wing, the Sandals Foundation, which was established in 2009. The Foundation is particularly active in Saint Lucia with twenty in-country projects ranging from school programmes and entrepreneurship support to sports development, cancer care and environmental protection. And it’s not just the tourism and hospitality sector that is intent on making a difference. CSR is also built into the culture of another regional economic pillar – financial services. CIBC FirstCaribbean has been allocating funding to Caribbean causes since 2002, through the FirstCaribbean Foundation.
“Corporate Social Responsibility is an important focus for our bank,” says Colette Delaney, CEO and Chair of the FirstCaribbean Foundation. “We are serious about responding to the needs of our communities and are committed to giving back to the Caribbean in tangible ways. We believe it is vital to give back to the communities where we do business, and to play our part in ensuring the continued development of the region we call home.”
The bank’s charitable work follows four themes: health and wellness, staff volunteerism, youth and education and community/environment. Its activities in Saint Lucia include donating to children’s homes, supporting the Salvation Army’s daycare and pre-school programmes and organising the annual cancer care event Walk for the Cure. Other Saint Lucian beneficiaries include St Jude’s Hospital, the Sir Arthur Lewis Community College, the Rotary Club of Saint Lucia and the National Council of Disabled Persons.
“At CIBC FirstCaribbean it is important to us to contribute to the continued development of our region. A stronger Caribbean means a stronger CIBC FirstCaribbean. Additionally, our CSR agenda fosters a sense of pride in our employees, who are a part of our communities. We encourage our people to become a part of our projects,” says Delaney.
CSR and SDGs
CSR isn’t just the preserve of big banks and regional resorts, it’s also something that can be incorporated into other sectors and smaller businesses. In Saint Lucia, Massy Stores has proved a leader in the space, strongly supporting environmental causes. This summer the grocery chain signed a memorandum of understanding with the Saint Lucia National Conservation Fund to redirect funds from its plastic bag charge into conservation grants. The initiative has collected over EC$150,000 to date which will go towards plastic waste management projects.
Reducing pollution, supporting educational initiatives and assisting entrepreneurs, corporate philanthropy is a powerful tool to help Caribbean nations deliver on their Sustainable Development Goals (SDGs). Delaney says this need to further the SDGs plays a key role in CIBC FirstCaribbean’s CSR policy. “We believe that we have played an important part in helping to advance the quality of life for Caribbean people and that it is equally important to prepare our communities for the future,” she says.
“Our pledge to serve and be instrumental in this development continues and this is why we are focused on undertaking long-term initiatives that are integral to the sustainability of our regional communities. These include, the empowerment of our young people through education to support them as leaders of the future; providing avenues for funding that allow youth entrepreneurship to flourish, and involvement in initiatives that, among other things, aim to preserve our region’s ecosystems.”
