Corporate Responsibility among banks and financial service providers

How much capital flows when, where and for what purposes? Banks and financial service providers make these decisions, thereby exerting an enormous influence on economic and socio-political processes. They can also give significant impetus to sustainable development, for example by applying minimum environmental and social standards in their asset management and credit operations. The Munich-based rating agency oekom research examined in a “Corporate Responsibility Rating” the extent to which the finance houses rise to this challenge. 93 of the world’s leading banks and financial service providers were examined according to a total of 200 environmental and social criteria. The result: on a scale from A+ to D-, the HypoVereinsbank (DE) came out on top with a B, followed by Deutsche Bank (DE), Westpac (AU) and UBS (CH), each scoring a B-. Sumitomo Mitsui Banking (JP) came in 43rd position with a D. The majority of the companies (50), proved to be so lacking in transparency that it was impossible to analyse their social and environmental activities in any depth. ... lees meer

report warns environmental risks could reduce shareholder value of leading oil and gas companies

A new World Resources Institute (WRI) report released today calls on investors to pay closer attention to how oil and gas companies are exposed to environmental risks. The new WRI report, Changing Oil: Emerging environmental risks and shareholder value in the oil and gas industry, warns that shareholders in leading oil and gas companies could see losses of more than six percent of their investments due to prospective actions to curb climate change and growing constraints on access to energy reserves. The report also finds that companies have made only very limited disclosure to investors on the relevance of these issues for future financial performance. ... lees meer

Groundbreaking Report about -business case’ for sustainability in emerging markets

The role of business in sustainable development is a key element in the coming World Summit on Sustainable Development in Johannesburg. A report published today overturns conventional wisdom by showing that it does pay for businesses in emerging markets to pursue a wider role on environmental and social issues. Developing Value: The Business Case for Sustainability in Emerging Markets challenges the myth that sustainability is only for rich companies in developed nations, and does not apply to the private sector in the emerging markets. Based on more than 240 real-life examples in over 60 countries, the study analyzes the -business case’ for sustainability in emerging markets – the opportunity for businesses to achieve benefits such as higher sales, reduced costs, lower risks and enhanced reputation from better corporate governance, improved environmental practices, and investments in social and economic development. ... lees meer

Business case for Socially Responsible Investment

On July 11th the Co-operative Insurance Society (CIS) launched a new study on the business case for Socially Responsible Investment (SRI), ‘Sustainability Pays’, produced by the Centre for Sustainable Investment at Forum for the Future. CIS set out to answer three key questions in the field of SRI: – What is the business case for SRI? – What influence can institutional shareholder have on investee companies through engagement? And, – What are consumer attitudes to SRI? ... lees meer

ICC comments on EU Commission communication about CSR

On behalf of the ICC member companies in all parts of the world, ICC comments with some serious concerns regarding recent developments in the ongoing debate within European Union institutions on the subject of corporate social responsibility (CSR). ICC members feel it is important for you and your colleagues in the Commission to be aware of these concerns in advance of the Commission’s forthcoming follow-up Commission Communication on the Green Paper on CSR. ... lees meer

NGOs’ Failure to Work Together Means a Return to Direct Action at Sustainability

Pressure groups’ inability to work together and agree a common set of goals means they risk missing their best opportunity in 10 years to affect world thinking – August’s World Summit on Sustainable Development (WSSD). That is the conclusion of a report released today by Infonic, the Internet research and communications consultancy. The report, the second in a series of five analysing the implications of the WSSD, also predicts that if decisive action is not agreed at the Summit, there will be a backlash against business’s role in the sustainability debate. ... lees meer

Final ISO CSR Feasibility Report Available

The final version of “The Desirability and Feasibility of ISO Corporate Social Responsibility Standards” is now available. The report was prepared by the “Consumer Protection in the Global Market” Working Group of COPOLCO, the Consumer Policy Committee of ISO (the International Organization for Standardization), and was considered by COPOLCO at its June, 2002 annual meeting in Trinidad. The report forms the basis for an ISO COPOLCO resolution to ISO Council on ISO CSR standards. ... lees meer

Consumers call for the development of International Standards for Corporate social responsibility.

Below please find the resolution of the Consumer Policy Committee (COPOLCO) of ISO concerning ISO CSR standards, which was made at the June, 2002 meeting of COPOLCO. The report, The Desirability and Feasibility of ISO CSR standards” (to obtain a copy, see previous Forum posting) formed the basis for this resolution. ISO Council will meet in September to consider the resolutions of COPOLCO and other ISO committees on a wide range of topics. ... lees meer

Launch of the European Academy of Business in Society

Business leaders and academics are teaming up in a groundbreaking attempt to prove to the European business community that Corporate Social Responsibility (CSR) makes good business sense. Their joint research project, the European Academy of Business in Society , represents a unique and pioneering alliance between Europe’s leading business schools and more than a dozen major multinational companies (including Shell, Johnson & Johnson, Levi’s, Danone and Caisse des Dépôts et Consignations). The Academy’s mission is to be a world-class reference point to drive CSR into the mainstream of business practice, theory and education, and to enhance models for sustainable business success. ... lees meer