By Wang Ke

China.org.cn staff reporter

In spite of the destruction of many financial magnates and the travails of the global economy, companies should still implement social responsibility during the current crisis, experts urged on Friday.

The financial crisis, which originated in the US, has infected the whole international economy, and has even driven some countries close to bankruptcy. Massive economic stimulus measures have been adopted in an attempt to save the situation.

Only responsible businesses can fight against the crisis and contribute to curbing its further spread, emphasized Mr. Serge Abou, ambassador of the European Commission Delegation to China, at the Fourth International Corporate Social Responsibility (CSR) Forum in Beijing.

"CSR has never been more important than it is today under the global financial crisis," he told China.org.cn. "All businesses should take stock and adopt responsible measures to get through the hard times and strive for a prosperous future."

In fact, CSR has a close relationship with the crisis and the recovery of world's economy. The 2008 China CSR Practice Benchmark Report conducted by China WTO Tribune and GoldenBee Development Center for Chinese CSR indicated that more than 80 percent of 352 companies investigated agreed that to some extent ignorance of companies' social responsibility had caused and had exacerbated the financial crisis.

According to the survey, about 72 percent of companies believe that full implementation of CSR would ease the negative impact of the crisis and accelerate economic recovery.

CSR is a way for government and business to create a favorable environment, and a way of helping to rebuild trust in business. If companies and entrepreneurs lose the trust of the public, it is harder for politicians to help create an optimal environment for them to flourish.

Figures from the European Commission Delegation to China showed that about 70 percent of Europeans trust business less now than they did last year.

A relevant example of rebuilding the trust in business requires that companies treat their employees properly during the current crisis.

Mr. Serge Abou said to China.org.cn: "Some job losses are sadly inevitable, but imaginative solutions may help to minimize job losses. Firms that show concern for employee welfare in these difficult times are likely to reap the rewards of greater loyalty and motivation in the medium term."