Most of the world’s top 500 companies are failing to take action to deal with the risks of global warming, according to research on the impact of climate change on the corporate world. Some companies in the heavy industries could see their value tumble by as much as 40 per cent – equating to billions of dollars – if they ignore the threat to their business.
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On 12 February, the first Round Table meeting of the CSR EMS Forum focused on “Improving knowledge about CSR and facilitating the exchange of experience and good practice”.
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The European Parliament has agreed a motion that promotes the uptake of corporate social responsibility by European businesses – but says that this must remain a voluntary movement.
The debate, held following the World Economic Forum at Davos, called for multinational companies to include social, societal and environmental concerns in their business activities. The Parliament also agreed that the process of globalisation must be accompanied by efforts to reduce poverty.
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On 7 February 2003 the social partners of the European Sugar Industry, CEFS and
EFFAT, signed a joint code of conduct setting minimum standards on corporate social responsibility (CSR) in eight areas. The European Sugar Industry is the first sector to voluntarily agree on minimum CSR standards on a broad scale.
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In preparation for the World Economic Forum’s Annual Meeting 2003, the Global Corporate Citizenship Initiative (GCCI) conducted a survey with selected signatory CEOs of the CEO Statement on Corporate Citizenship. Offering insight from 18 different industry sectors and more than 16 different countries.
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The February 2003 update from the Global Reporting Initiative (GRI):
Ã?? Invitation to Register as Organisational Stakeholders
Ã?? Financial Planning for the Long-term
Ã?? Update on Stakeholder Council
Ã?? Report Assurance on the GRI Agenda
Ã?? Work on Telecommunications and Other Sectors Progressing
Ã?? July 2003 Event in Cooperation with Int’l. Corporate Governance Network
Ã?? New Website Coming in Days
Ã?? More Organisations Use the GRI Guidelines
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Companies invest heavily in protecting their reputation and ensuring society’s expectations are met. Is this corporate social responsibility or simply a smokescreen?
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In 1984, 40 tons of lethal gas leaked from a Union Carbide plant at Bhopal in Madhya Pradesh. Thousands of people were killed. The disaster in India led the U.S. Congress to pass a law requiring companies to disclose chemical emissions. But even though Bhopal was an overseas disaster, the law it inspired applies only in the United States. Dangerous pollutants are just one aspect of corporate behavior that can be hidden abroad. Companies should have to make public information about overseas activities that would be prohibited or subject to disclosure laws at home.
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On 21 January, the Social Affairs Committee briefly considered the Bushill-Matthews report, in which the MEP urges the Commission not to “submerge” the environmental and enterprise aspects of CSR by social considerations.
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The 2003 annual report on global corruption underlines the media’s role in the fight against corruption, calls for better access to government-held information and states that companies are somewhat less likely to bribe now than before.
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The UN Global Compact and the World Business Council for Sustainable Development will cooperate more closely for a coherent approach to corporate social responsibility
The very distinct nature of the two organizations presents considerable scope for building on complementary strengths and creating synergy – the Global Compact being an open action and learning network and the WBCSD being a membership based organization dedicated to sustainable development and engaged in such programs as Sustainable Livelihoods, Advocacy and Communications, Accountability and Reporting and the Regional Network.
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A large study of Research International shows:
. Major worldwide study explores perceptions of modern brands and the issues facing globalisation
. Naomi Klein’s thesis is wrong, consumers seek to forgive brands, negative issues are largely put aside
. But consumers also reject homogenous global branding
. The study highlights the emergence of wave three branding, where consumers want to find the brand and not the other way around
. The category a brand is in, its level of aspiration, the nature of different local cultures and the fit between cultural and brand values are key to localisation
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