The International Organization for Standardization (ISO) has signed a Memorandum of Understanding with the United Nations Global Compact Office. The purpose of this Memorandum is to encourage cooperation and mutual support between ISO and the Global Compact Office. Specifically, both parties agreed to collaborate extensively on the development, promotion and support of the new ISO International Standard on Social Responsibility, which will be consistent with the Global Compact’s ten principles. “This collaboration marks a major step forward for coherence in the field of social responsibility and lays a key foundation for the development and future success of the SR standard itself,” said Georg Kell, Executive Director of the Global Compact Office.
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The Global Environmental Management Initiative (GEMI) and Business for Social Responsibility (BSR) announced the results of their first ever joint benchmark survey, “Sustainable Business & Strategy: Views From the Inside.”
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Up until early November, UK companies were not required to file CSR reports. With the passing of the Companies Act; the largest bill to pass through Commons, directors will have to report on what they are doing and therefore, having to consider how it affects the community and environment. The Companies Act makes it mandatory for business to report anything concerning the welfare of the employees, community, environment and the company itself. It will allow shareholders and the general public to judge companies’ performances.
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In an exclusive feature for MJ Online, Andrew Howard, a management consultant specialising in corporate social responsibility, looks at the relationship between the finance community and mining companies – and the need for the latter to adopt a sound social and environmental strategy.
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The World Business Council for Sustainable Development (WBCSD) announced today that Herman Mulder, former Senior Executive Vice President of ABN AMRO, will be working with the WBCSD as a Senior Advisor to the President. Mr. Mulder’s appointment will be for an initial duration of twelve months.
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Tomorrow’s Value, SustainAbility’s fourth international benchmark of corporate sustainability reporting, has once again been developed in partnership with the United Nations Environment Programme (UNEP) and Standard & Poor’s. This year we introduce a revised methodology, developed in close consultation with experts and leading corporate reporters, and – in line with our sense that the focus also needs to shift beyond disclosure and reporting to communication – we have adopted a portfolio approach. Tomorrow’s Value is the flagship document in a suite of publications exploring wider aspects of reporting, including communication with financial analysts and the wider innovation agenda.
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Innovest Strategic Value Advisors, Inc., the global leader in analyzing extra-financial sources of investment risk, has released its most recent report on the Global Integrated Oil & Gas Sector. Of the 28 companies in the report, top sustainability performers with AAA ratings included Royal Dutch Shell, Norsk Hydro ASA, BP Plc, and Suncor Energy. Laggards included the Russian company Surgutneftegaz, and Petrochina.
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About one in every ten dollars of assets under management in the U.S. – an estimated $2.3 trillion out of $24 trillion – is being invested in companies that rate highly on some measure of social responsibility. That’s a $2.3 trillion wager that socially responsible companies will outperform companies that don’t engage a wide array of stakeholders, from shareholders and customers to employees and activists, in an ongoing conversation about what can be done better.
Which is why Fortune, for the second year in a row, is ranking the world’s largest companies according to how well they conform to socially responsible business practices.
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Speech Staatssecretaris van Economische Zaken, mw. ir. C.E.G. van Gennip MBA, t.g.v MVO en handel-Seminar te Rotterdam, 26 september 2006.
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Companies and organisations will get a new and simpler “score card” to measure their social and environmental impact when the Global Reporting Initiative (GRI) kicks off a major conference this week.
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The view that corporate social responsibility and profits are mutually exclusive objectives is challenged in a recently released paper, Corporate social responsibility: concepts, approaches to regulation and public sector application of the GRI, by John Purcell, technical adviser at CPA Australia, and Janice Loftus from the University of Sydney.
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It is now nearly 20 years since “sustainable development” was defined by the Brundtland Commission as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” While not exactly new at the time, this event, and the Rio Declaration on Environment and Development several years later, in 1992, are commonly regarded as the birth of the modern sustainability movement.
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