News

Corporate Social Responsibility (CSR) is a process that has been driven by globalization, deregulation and privatisation. For Trans National Corporations (TNCs) it is an outcome of public pressure arising from their operations in developing countries in relation to human rights, environmental pollution and labour issues. CSR is now being discussed and debated in the public policy sphere – the UK has a Minister for Corporate Social Responsibility. To date, CSR has been a Northern phenomenon in terms of its language and strategy. However, according to a UNIDO study expected later this month, entitled Corporate Social Responsibility: Implications for Small and Medium Enterprises in Developing Countries, “there is an abundance of evidence that -silent’ CSR is thriving in developing countries, albeit under a different name and with a different approach. There are some concerns that CSR has not focused enough on addressing issues of poverty, but the emergence of new partnerships with aid agencies, the UN and NGOs offers the opportunity to refocus that approach. In particular the role of business associations, both mainstream and those from the CSR movement, have an important part to play in creating a multiplier effect. ... lees meer

Research* launched today shows that business leaders are not taking steps to reduce their environmental impact. The research, by Trucost, also reveals that 50% of business leaders think they spend too much time completing environmental questionnaires. Suppliers are on the environmental radar for the first time. 79% percent believe they should measure the environmental impact of their suppliers, although only 32% would change suppliers who were found to be damaging the environment. Simon Thomas, chairman, Trucost says: “Environmental disclosure is becoming increasingly important. Our survey found that only half of business leaders are aware of the environmental reporting clause in the government’s Modernising Company Law White Paper. This clause is expected to compel at least the 1,000 largest UK companies to report on their environmental performance. Thomas concludes: “Margaret Beckett, Secretary of State, DEFRA, emphasised the importance of these proposed changes in a recent speech outlining the UK government’s position in advance of the World Summit on Sustainable Development being held later this month in Johannesburg. Organisations are now under pressure from NGOs to demonstrate that they are measuring environmental impact of the whole supply chain and taking action, not just demonstrating a commitment to environmental policies at head office.” The Trucost Environmental System, which launches in August, is the first rating tool to measure the environmental performance of an entire organisation, including that of its supply chain. It represents the total environmental performance of an organisation as a single percentage figure, that is comparable across industry sectors. 67% of business leaders believe this will be commercially beneficial. For the first time, companies will be able to benchmark their environmental performance against peers and competitors. As total performance becomes transparent to all stakeholders, this could prove to be the much-needed driver for improvements. ... lees meer

PricewaterhouseCoopers surveyed senior executives and managers of 140 large US-based companies to determine their attitudes and approaches towards sustainability — a new standard of corporate performance that moves beyond evaluation of short-term business goals to evaluation of long-term social, economic, and environmental impacts of corporate activity. The goal was to provide insight into the US business community’s understanding and development of sustainability business practice. Respondents represented a broad range of industries including chemicals, utilities, electronics, technology, manufacturing, consumer products, and paper and packaging. ... lees meer

As companies get more sophisticated about corporate social responsibility, they are forging new ground in their efforts to establish effective CSR structures that support their efforts. There is growing demand for information, company examples and advice about what works and what doesn’t in setting up a CSR structure. Board members, executive management and staff at all levels are interested in knowing more about the process of deciding what CSR structure is right for their companies and in looking at specific issues such as buy-in, alignment, staffing, outside expertise and resource allocation. BSR’s new report, Designing a CSR Structure, walks through the steps necessary for a company to consider and set up an internal management system aimed at integrating CSR into the entire company’s organization and culture. ... lees meer

Global warming, the status of world communities, even support of terrorism can be affected by major corporations being attuned to issues of corporate social responsibility, but few companies are devoting more money or resources to the issue, according to a recent survey of Fortune 1000 CEOs. The survey of 264 Fortune 1000 CEOs, conducted by Jericho Communications, a public relations agency that works with many of the world’s top brands, found that 36 percent of respondents said their company is more conscious of corporate social responsibility since September 11, 2001. Despite this raised consciousness, however, only 12 percent of respondents said they are allocating more resources to CSR issues, while 9 percent said they are spending more money on CSR. ... lees meer

-Human activities are causing between 10,000 and 40,000 species to become extinct each year” according to Richard Leakey a world-renowned conservationist. -At that rate we are probably approaching a point similar to mass extinction. [.] Such rapid catastrophic losses to biodiversity have happened before, and these catastrophes have always had far reaching consequences for the surviving species.” Although the loss of biodiversity is considered a key environmental problem it is managed based on theories and methods that have been considered outdated in the financial markets for more than 50 years. The results are flawed decisions and misevaluations. This is one of the findings of the report “Managing Biodiversity Correctly- published by Gerling Group (Cologne) and the Center for Sustainability Management (CSM) e.V. (Lueneburg). If the practical skills and tools of financial services and insurances were considered more biodiversity could be saved. ... lees meer

Some corporations continue to abuse the rights of people, destroy the livelihoods of communities, and pollute water and forest resources for future generations, according to a new report by Friends of the Earth International has been published. The report graphically illustrates the need for governments to agree to introduce tighter rules for multinationals at the Earth Summit in Johannesburg. Launched as world leaders prepare for the Earth Summit in Johannesburg later this month [1], Clashes with Corporate Giants reveals how even some of the top international companies who claim to be developing sustainable policies, are still causing major damage to the planet. ... lees meer

August 2002 update of the Global Reporting Initiative (GRI). * GRI at the Johannesburg World Summit on Sustainable Development * Sustainability Reporting Events Held in Hong Kong, Malaysia, and Australia * Guidelines Revisions Near Conclusion * GRI Welcomes EU Proposals on CSR * Relocation of Secretariat to Amsterdam * More Organisations Release Sustainability Reports ... lees meer

Innovest Strategic Value Advisors, Inc., the global leader in intangible value analysis, has released a new 100-page report on the relative corporate environmental performance among 29 pharmaceutical companies in the U.S., Europe and Japan. Innovest found that companies with better environmental performance (eco-efficiency) outperformed laggards by 17% (1700 basis points) in the stock market since May 2001. The results of the study suggest that investor returns can be substantially improved by investing in companies with superior eco-efficiency. Mainstream Wall Street analysts typically overlook this increasingly important source of value-creation. The analysis was conducted using Innovest’s EcoValue’21 Ã?? environmental performance rating model. The model analyzes over 60 aspects of environmental risk exposure, management quality and business development. Investor risk exposure related to environmental issues is growing due to factors such as increasing regulation, growing consumer demands for environmentally responsible products and services, increasing public concerns about global warming and other environmental problems, and expanding information transparency through the internet, which makes it easier for stakeholders to identify a firm’s negative impacts on the environment. ... lees meer

The Global Reporting Initiative (GRI)announced the availability of the Pre-Publication Release of the 2002 Sustainability Reporting Guidelines on the Global Reporting Initiative web site ... lees meer

Pamphlet launched on eve of Jo’burg Rio +10 Summit argues that significant development impacts from ‘corporate responsibility’ will not be forthcoming unless it is integrated into national economic competitiveness strategies and practices. ... lees meer