Morley Fund Management (Morley) today releases its first Sustainability Matrix. This Matrix ranks FTSE 100 companies according to social and environmental criteria and provides a new measure of business sustainability. These gradings:
. Encourage companies to improve their Social and Environmental Performance
. Protect and increase Shareholder Value by adding another tool for the analysis of companies
. For the first time provide clear and transparent analysis of companies’ social and environmental policies
. Encourage and stimulate debate and continue raising awareness of Corporate Social Responsibility
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One major company states in its annual report that corporate citizenship is both “a moral responsibility and an economic necessity”. But what is the business case for and against increased corporate citizenship? This is the subject of a recent research paper entitled ‘The Business Case for Corporate Citizenship’ from Arthur D. Little’s Environment & Risk practice. The paper was commissioned by the World Economic Forum for their Global Corporate Citizenship Initiative.
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The International Chamber of Commerce today proposed practical steps for companies in making responsible business conduct a management priority – and said this could be good for business.
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All investors expect companies to report on their financial performance in a transparent way; so too do they expect transparent financial reporting from their mutual funds. Social investors are increasingly calling on companies they invest in to report on their social and environmental performance as well. Now, Norway-based Storebrand Investments is offering a mutual fund that reports on the social and environmental performance of the companies in its portfolio.
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The UK’s major “ethical” investing index is being accused of watering down green standards by including “unethical” companies.
The FTSE4Good family of indices were launched in a blaze of publicity nine months ago to encourage investment in companies with good records of corporate social responsibility.
Two companies, Close Fund Management and Direct Line, have since set up tracker funds to shadow the UK version of the FTSE4Good index.
Close tells its investors that FTSE4Good has created a “universe of socially responsible stocks”.
But the New Economic Foundation (NEF), a think tank, says the UK index includes companies with “poor ethical and environmental reputations”.
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By Amanda Paulson | Staff writer of The Christian Science Monitor
“Sustainability” is a big buzz word these days – for environmental groups, activists, government officials. And now, corporations.
More large companies, from auto giants to airlines, are producing “sustainability reports” in addition to – or as part of – their traditional annual reports. In them, they provide a detailed accounting of the firm’s environmental and social performance. McDonald’s released its first such report last week, and Shell came out with its fifth report a week earlier.
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An academic study concluded that Business Ethics’ list of 100 Best Corporate Citizens generated better returns than the remaining companies on the S&P 500.
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Nordic companies are the winners of all the trophies at the award ceremony for the Sixth Annual European Environmental Reporting Awards (EERA) on April 29.
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Margaret Beckett, Secretary of State for Environment, Food and Rural Affairs today announced Ã??50,000 Government sponsorship for the development of ‘Guidance on Corporate Social Responsibility Management and Reporting for the Financial Services Sector.’
The guidelines will cover social, environmental and ethical issues that affect the financial services sector. Examples include human rights, bribery and corruption, diversity and equal opportunities and access to financial services.
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April 2002 Update Global Reporting Initiative (GRI).
* Inauguration Event at United Nations – A Milestone
* First GRI Board Chair Selected – Dr. Judy Henderson
* GRI Secretariat is Amsterdam-Bound
* Dr. Allen White Appointed Acting Chief Executive
* Chief Executive Search Commences
* GRI Charter Group – A Diverse Show of Support
* Draft 2002 Guidelines Available for Public Comment
* Conference Coming in Malaysia
* GRI Seeks Collaborators for International AIDS Conference
* More Organisations Release Sustainability Reports
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On 23 April, the European Parliament’s Employment Committee voted on its report on corporate social responsibility (CSR). It asks for obligatory requirements for social and environmental reporting to be introduced.
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On 18 April, as part of the ‘Green Week’, a seminar was held on global governance and corporate accountability. A number of NGOs called on the EU to promote legally binding instruments for corporate accountability to be introduced at the Johannesburg summit.
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