Companies should create a CSR (Corporate Social Responsibility) report because of the a real ROI they stand to gain, either through reduced costs or increased revenue, or both. The key drivers include investors, market expectations, competitors, regulators, employees, and communities. Each of these drivers has at its core either increasing revenues, or reducing costs.
Corporate Social Responsibility’s Seven Best Practices: Avoid Greenwashing Through Stakeholder Engagement
A look at the seven best practices in corporate social responsibility (CSR). They include: setting measurable goals, stakeholder engagement,sustainability issues mapping, sustainability management systems (SMS), lifecycle assessment,sustainability/CSR reporting, and sustainability branding.
The idea sounds simple enough. Create a team of volunteers from existing employees. Have them focus on ways to green the business and culture. In turn, create cost savings, attract top talent due to an improvement in brand recognition, and increase market share from the newfound brand image, possibly even innovative product and services. The idea and the goal sound simple, while the execution and plan of attack seem a bit more complex. How can an individual or company go about implementing this team of sustainability focused volunteers? Resources and guides may be abundant and abound. The report, “Green Teams: Engaging Employees in Sustainability,” released by GreenBiz.com and Green Impact, provides a good starting point that captures the business case for these green teams, how to get started, four key areas behind best practices, and a breakdown of 10 best practices in developing green teams.