Good 360
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Corporate Engagement, Good Business

CSR Just PR Spin – Report


Wednesday, 1st May 2013 at 10:50 am
Staff Reporter
Social responsibility is “nothing more than public relations”, according to some respondents in a study of Ultra High Net Worth (UHNW) investors.

Wednesday, 1st May 2013
at 10:50 am
Staff Reporter


1 Comments


FREE SOCIAL
SECTOR NEWS

 Print
CSR Just PR Spin – Report
Wednesday, 1st May 2013 at 10:50 am

Social responsibility is “nothing more than public relations”, according to some respondents in a study of Ultra High Net Worth (UHNW) investors.

According to the 2013 UHNW Investor Changing Attitudes and Behaviors study, these wealthy individuals appear to be increasingly unlikely to become socially responsible and instead invest primarily for financial gain and not to make the world a better place, according to new research from the Spectrem Group.

The report says that the UHNW investors appear sceptical of a company’s claims to be socially responsible, considering it to be “nothing more than public relations”.

40% of participants said that a corporation should “focus on generating profit and allow investors to decide whether to use the gains for the greater social good.” A similar number indicated they have never "given much thought" to socially responsible investing.

Less than 20% of the UHNW factor social responsibility into their investment decisions, giving much greater weight to the risk associated with an investment (94 percent), diversification (89 percent) and tax implications (81 percent), according to our research.

UHNW investors respondents rated their interest in socially responsible investing as a ‘44’ on a 100-point scale with zero indicating less interested than five years ago and 100, more interested.

Younger investors – those ages 46 and younger – proved an exception to this trend by rating their interest as a ‘54’.

UHNW investors are those with $5 million – $25 million in net worth, not including their primary residence. Some 500 American respondents took part in the survey.

However, an initiative launched by Warren Buffett and Bill and Melinda Gates in 2010 called The Giving Pledge invited the world's wealthiest individuals and families to commit the majority of their assets to philanthropic causes in an effort to help address society's most pressing problems. So far, 105 high-net-worth households have joined the Pledge – 81 of them from the US.

According to the Pledge organisation, the combined net worth of roughly $490 billion in commitments made by the current participants could bring more than $245 billion to charity.

The UHNW study is available by clicking here.
 



FEATURED SUPPLIERS


NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

...


Yes we’re lawyers, but we do a lot more....

Moores

More Suppliers


YOU MAY ALSO LIKE

One to Watch: Emma O’Rourke

Wendy Williams

Monday, 6th November 2017 at 5:02 pm

Warning to CEOs – CSR May Get You Fired, Study Finds

Lina Caneva

Tuesday, 24th October 2017 at 10:07 am

LEGO Comes Top For CSR

Wendy Williams

Wednesday, 4th October 2017 at 8:57 am

Three Ways Faith Based NFPs Can Sure Up Sustainability

Andrew Cairns

Wednesday, 23rd August 2017 at 3:15 pm

POPULAR

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

Disability Advocacy Group Fights to Restore State Funding

Luke Michael

Thursday, 9th November 2017 at 8:37 am

Concerns Raised Over New ACNC Board Appointments

Luke Michael

Monday, 20th November 2017 at 2:28 pm

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

One Comment

  • Ron Robins Ron Robins says:

    I’m sure that if a question was framed, such as, “Knowing that companies who are highly rated on environmental, social and governance (ESG) factors are more profitable and with relatively higher stock prices, how likely are you to invest in them?” The points in this question are factual and would no doubt elicit a very high ‘yes’ score.

    How questions are framed often determines the answer!

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Good 360
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!