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.
We should engage employees because they are a key stakeholder group. They have the primary impact on the performance of the company in any particular corporate responsibility pillar and they have an impact through their actions outside of the workplace. We will look at engaging at the leadership level and integrating sustainability with the business.
There are a tremendous number of business benefits of environmental and sustainability education for employees, including: improved operational efficiency, strengthened customer and community relations, innovation, supply chain management, and increased employee recruitment and retention.
Sustainable Life Media launched their first online Sustainable Brands Boot Camp on Friday. Leading the first webinar, “Introduction to Opportunities in Sustainable Innovation”, was Gil Friend, President/CEO of Natural Logic and author of The Truth About Green Business. Friend spoke on sustainability focused design innovation and how companies can remain competitive in the midst of today’s environmental challenges. Friend provided valuable and practical recommendations on how companies can incorporate sustainability within their innovation process.
As consumer expectations rise and trust in corporations decline, the need for ethical business practices is greater than ever. Yet in a recession, companies seeking to cut costs will likely postpone important CSR initiatives or cut spending in favor of core business initiatives. But it doesn’t have to be either-or. Companies that consider social and environmental initiatives as potential innovation platforms and brand builders — not expenses — will come out ahead.