Australian corporate social responsibility over 20 years: A timeline
24 June 2020 at 6:30 pm
Corporate social responsibility has come a long way in the last 20 years. We take a look back through the Pro Bono News archives to re-examine some of the major moments that have defined the sector.
Cool Timeline
The global list ranks companies meeting its strict corporate social responsibility criteria.
The bank is ranked ahead of BP, Rio Tinto, BHP Billiton and Toyota.
Corporate volunteering is regarded as “positive and worthwhile” for a company and its staff.
A federal senator says that CSR can no longer just be about philanthropy or charity, but has to become integral to the way that the corporate sector “does business”.
The voluntary standard provides public and private organisations with a new paradigm to help them operate in a socially responsible way.
The business strategy designed to solve social issues profitably gains traction with a number of Australian corporates.
Colorpak and Swan Services are among organisations shed by the worldwide CSR reporting program for failing to communicate on progress for at least two consecutive years.
Westpac, ANZ Banking Group, the Commonwealth Bank of Australia, Stockland and Wesfarmers all make the top 100.
Businesses have reported dramatic participation increases in workplace giving as a result of engagement programs run as part of Workplace Giving Month.
The Commonwealth Bank Australia is pushed into the spotlight over a shareholder resolution on climate risk.
Experts say there is potential for the new cabinet to further CSR objectives for the first time.
The awards recognise and highlight the growing number of corporations, NFPs and governments using the business strategy to solve social issues profitably.
The study finds that over half of the respondents support mandatory sustainability reporting. Meanwhile, for the first time Australian banks have fallen off the list of top 10 CSR companies.
Experts say the goals provide a powerful framework for business to engage in corporate social responsibility.
Under the new law, businesses with turnovers of more than $100 million must report action taken to stamp out modern slavery in their supply chains.
BHP commits US$400 million (A$580 million) to develop technologies to cut emissions from its own operations and from the companies using its products such as coal, iron ore and gas.
Corporate activists say it’s an indication that Australian investors are waking up to the gas industry’s lack of action on climate change.
Experts say the current crisis is an opportunity for businesses and the whole of society to shift their thinking and demonstrate what change is possible.
For a deeper look at these key changes, you can check out our article examining how far corporate social responsibility has come since 2000 here.
Maggie Coggan | Journalist | @MaggieCoggan
