Comparative Analysis of Responsibility Social in the Financial Sector: Case Studies in Peru and Brazil 2007-2009

Abstract

Little by little, corporate social responsibility has been consolidated in the Latin American region. As a consequence, it has become an effective mechanism to reduce costs and strengthen market share in the medium term for some companies. Although there are more initiatives, experiences and foundations of social responsibility, even its application in accordance with the institutional policy is weak. Faced with this, the authors emphasize the proper application of CSR analysis methodological instruments with the aim of consolidating parameters that consolidate experiences at an international level. In this way, the objective of this article is focused on making a methodological and casuistic contribution on the assessment of CSR practices by analyzing the cases of commercial banks in Peru and Brazil in the field of labor rights, environmental issues and relationships with consumers. On the one hand, the methodology focuses on the following aspects: follow-up and monitoring of companies, the civil society-company-State relationship, the strengthening of civil society, and the incidence of national and international CSR standards and instruments. On the other hand, the analysis of cases will show that Red Fuentes applied comparison parameters of cases in commercial banking in Peru (2007-2009) and Brazil (2007). The results indicate that, in the Peruvian case, banks have worked to improve the application of the concept; however, it could not be classified at a regular level of advancement. Likewise, in the aforementioned years, the following financial institutions could be highlighted: Interbank and Banco de Crédito del Perú, given that their implementation of environmental policies and attention to consumers and workers was valued. Regarding the Brazilian case, ABN Amor Real and Bradesco stand out.