In order to stand out from the competition and be successful in the 21st century, companies must establish themselves as progressive, forward-thinking entities that are ready to take on today’s complex challenges. As a result, conducting business in a sustainable and socially-conscious manner, as well as diversity in the workplace are now recognized as key drivers of bottom-line growth and corporate reputation. With this in mind, Tory Clarke and Larry Griffin, founding partners of Bridge Partners LLC, an executive search firm developed CSR Insights, a network and knowledge-base related to social responsibility leadership.
“Metrics, metrics and more metrics. In many ways metrics drive the success of business. Multiple variables can be condensed to the common denominator of dollars and cents, pounds and pence. Many business failures could have been avoided for want of a business case. But, the specificity of metrics also allow us to persuade ourselves that there is more science and more certainty than there may really be and that we fully understand the complex interactions of the real world. There are solid business cases behind some of the most spectacular business failures – perhaps those where metrics were allowed to lead decisions rather than inform them.
They say the best way to beat your adversaries is to get to know them. CSR reports have many adversaries. In an attempt to get to know them, and understand how to better position the valuable process of CSR reporting, here is a list of useful applications of CSR reports which I imagine reporting adversaries could have generated.
Green roofs, green walls, green parking lots, shade trees, the greening of urban spaces in general, the restoration of urban waterways, wetlands and the re-greening of brownfield areas; can all be thought of as different techniques to nurture a green living skin over regions of urban development. While there are many important differences between each of these separate techniques as well as their underlying technologies they all share a common overarching goal of bringing an analog of the natural living green skin that characterizes the natural landscape back into our urban areas. They all promote the restoration and re-integration of these heavily populated areas back into the surrounding natural environment.
The Roberts Environmental Center of Claremont McKenna College (CMC) recently released a detailed analysis of the social responsibility reporting efforts of America’s top energy and utilities corporations. The two reports contain a compilation of Pacific Sustainability Index scores evaluating the environmental and social reporting of the 48 U.S. energy and utilities companies on the 2008 Fortune 1000 list.The reports score companies based on the reporting, intent, and performance of environmental and social sustainability efforts. The research, based entirely on material released on the firms’ Web sites, found that two of the smallest firms – Mirant (energy sector) and Pinnacle West Capital (utilities sector) – did the best jobs of describing details of their socially beneficial actions and environmental management. The lowest scores were also shared by small firms – Adams Resources and Energy, Inc., and Atmos Energy Corp. – but there was a good mix of firms of all sizes throughout the range of scoring. In neither sector is size a predictor of good reporting.
The Institutional Investors Group on Climate Change (IIGCC), the European investors’ forum for collaboration on climate change, recently published its second annual report which audits the investment practices of signatories to the Investor Statement on Climate Change. The report, conducted by Mercer, highlights significant progress on climate change, made in 2008, among asset owners and asset managers, who in total represent €2 trillion in assets under management. The research shows that institutions are paying greater attention to climate change, with 75% of asset owners and over 80% of asset managers referencing climate change in their investment policies.
The 3rd annual Opportunity Green Business Conference, on November 7-8, 2009 and hosted by the UCLA Anderson School of Management’s Price Center brings together more than 500 prime movers & shakers and up & coming innovators driving today’s new green economy. It is certainly one of the Los Angeles metro area’s premier annual gatherings in the green economy space and features some of the brightest leaders and innovators at the forefront of the green business revolution.
Boards of directors are increasingly paying attention to the risks and opportunities associated with corporate responsibility, sustainability and climate change, according to a new survey commissioned by Deloitte and Corporate Board Member magazine. The survey of 220 directors at U.S. companies with $1 billion or more in revenue highlights the board’s growing role in oversight of corporate responsibility and sustainability (CR&S). Despite the current economic environment the board’s role is undoubtedly increasing as there is greater awareness of the business risks and opportunities associated with corporate responsibility, sustainability and climate change. The perfect storm of emerging regulations, increased requirements for reporting and transparency, heightened pressure from investors, energy price volatility and market demands for green products and technologies is driving CR&S as a business imperative.
Coro Strandberg, Principal of Strandberg Consulting, has introduced the Corporate Social Responsibility and Human Resource Management Checklist that identifies ten steps HR professionals can follow to support the integration of CSR into their organization’s business strategy and operations. A companion document, The Role of Human Resource Management in Corporate Social Responsibility: Issue Brief and Roadmap, provides a how-to guide including practical business-based examples and a business case for CSR integration.
