Guide to Giving
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.
 



Guide to Giving

FEATURED SUPPLIERS


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

Moores

...


Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

More Suppliers


YOU MAY ALSO LIKE

Thinkers Look to Melbourne to Grow SA Purpose Economy

Wendy Williams

Thursday, 21st September 2017 at 4:44 pm

Australian Organisations Score in the Top 10 Per Cent of B Corps Globally

Luke Michael

Monday, 18th September 2017 at 5:03 pm

New CEO to Lead TDi into Next Phase as Bessi Graham Stands Down

Wendy Williams

Friday, 15th September 2017 at 9:46 am

Australian Companies Recognised for Changing the World

Luke Michael

Wednesday, 13th September 2017 at 5:02 pm

POPULAR

Moves to Stop Volunteering at Overseas Orphanages

Luke Michael

Wednesday, 13th September 2017 at 1:54 pm

Future Uncertain for Disability Organisations Following Funding Cuts

Wendy Williams

Tuesday, 19th September 2017 at 8:29 am

Majority of NFPs Are Not Believed to be Well-Run, According to New Survey

Luke Michael

Tuesday, 12th September 2017 at 4:14 pm

More Australians Are Giving Time Not Money

Wendy Williams

Monday, 11th September 2017 at 5:07 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 *


Guide to Giving
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!