Benefits of CSR

August 14, 2007 at 3:00 am Leave a comment

Kim photoAn interesting report has been released by Goldman Sachs, which highlights how an increasing number of business leaders view corporate social responsibility as a way to build trust with stakeholders, compete successfully, build business value and deliver higher stock prices. The report examined 6 industry sectors – energy, mining, steel, food, beverages, and media – and showed that companies in these sectors who were considered leaders in implementing environmental, social and governance (ESG) policies have outperformed the general stock market by 25% since August 2005. And 72% of these companies have outperformed their peers over the same period. You can download the report from the United Nations Global Compact site.

A complementary survey carried out by McKinsey & Co has found that CEOs are now listening to the call for increased environmental, social and governance strategies. 90% of CEOs surveyed say they are focusing more on ESG than 5 years ago. 72% of CEOs believe that corporate responsibility should be fully embedded in strategy and operations, but only 50% think their firms are actively doing so. You can can download the McKinsey survey from the UN Global Compact site too.

Whilst there is no global legal responsibility (yet) for companies to issue sustainability reports, it’s good to see that a number of companies are responding to internal and external demands to be transparent about their business activities.

I also found another report from KPMG and the Global Reporting Initiative (NGO started in 2000) very useful. The publication analysed sustainability reports published in 2006 by 50 leading companies and found that there were some surprising business opportunities from climate change, mostly in carbon credits.

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Entry filed under: Corporate Social Responsibility, Education and Awareness, Environment, United Nations, Useful resources.

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