Global Business Leaders See Future Value in CSR
27 January 2005 at 12:01 pm
The US organisation Business for Social Responsibility (BSR) has released the results of its recent survey of global business leaders on the integration of Corporate Social Responsibility (CSR) into core business functions.
The report entitled ‘Taking the Temperature of CSR Leaders,’ covers themes ranging from the competitive advantages of implementing CSR, to the impact of governments and markets on company integration of CSR.
The findings come from some 400 completed surveys taken during the European Conference on Corporate Social Responsibility (Maastricht, November 7-9) and the BSR Annual Conference (New York City, November 9-12).
The findings include:
-CSR is not yet being widely or deeply integrated into core business functions with only 10% of respondents asserting that current integration is adequate.
-Senior executives and line managers hold substantially different views regarding the degree to which CSR is successfully implemented in their organisations.
-Financial markets are widely seen as offering inadequate incentives for companies to adopt CSR practices.
-Government solutions that encourage CSR implementation, though more broadly supported in Europe than the U.S., still face significant resistance in both places.
-Three-quarters of respondents expect that there will be legally mandated accountability measures over the next few years, especially in areas like reporting.
The study says that while the results reveal real deficits in the delivery and practice of CSR, respondents hold a very strong and “bullish” sentiment when it comes to the impacts that CSR will have on business, people and the planet.
In overwhelming numbers, (93%) respondents see CSR as becoming an even more important part of business practice five years from now, with nearly three-quarters (73%) confident that it will, in fact, make the crucial and necessary contributions for the betterment of people and the environment.
The CEO of Business for Social Responsibility Aron Cramer says the survey offers clear evidence that CSR is widely viewed – on both sides of the Atlantic – as important.
Cramer says this survey also reveals that broad and deep implementation of CSR is in a relatively early stage of development, reinforcing the need to close gaps in understanding and action to achieve more sustainable business practices.
However he says the survey is also significant for what it did not show – substantial differences in thinking between North American and European respondents.
Founded in 1992, Business for Social Responsibility provides advisory and information services to its member companies, the broader global business community and other key CSR stakeholders.
If you would like an electronic copy of the full survey results just send an email with the words ‘BSR Report’ in the subject line to corpnews@probonoaustralia.com.au.
