CSR Press Release

July 28, 2008

What: "The Risk Intelligent Approach to Corporate Responsibility & Sustainability"

When: Available immediately

Where: www.deloitte.com/us/RiskIntelligentCRS

Details: Companies adopt a variety of approaches to corporate responsibility and sustainability (CR&S): Charity based. Compliance-driven. PR focused. "Green."

Yet in Deloitte's experience, many of these programs are well-meaning but are not integrated with the core strategy of the organization; some are driven more by appearance than substance, leading to unnecessary risk and missed opportunity; and very few excel unequivocally.

Deloitte contends that what is missing is a greater purpose: a carefully orchestrated corporate responsibility and sustainability effort that is aligned and integrated with existing strategic initiatives and coordinated with an intelligent approach to the related risks and rewards. Without this foundation, the acts of giving, conserving, and volunteering exist in isolation, divorced from the company’s core business and strategy.

Deloitte's whitepaper, "The Risk Intelligent Approach to Corporate Responsibility & Sustainability," offers a framework for developing a CR&S strategy that is aligned with strategic initiatives and coordinated with an intelligent approach to risks and rewards.

"Smart executives know that both threats and opportunities will present themselves in this new era of corporate responsibility," said Eric Hespenheide, Deloitte & Touche LLP's Global Leader for Corporate Responsibility & Sustainability. "A risk intelligent approach encourages risk taking for reward, and such an approach to CR&S will yield benefits that extend far beyond the "feel-good" aspects of corporate responsibility. Furthermore, a successful CR&S program does not need to drain corporate resources. In fact, if strategically positioned and efficiently deployed, CR&S can help drive bottom-line profitability."

"CR&S drivers, such as the impact of carbon emissions, and the true costs of consuming natural resources, including oil and water, have the potential to profoundly change the way companies do business," adds Kathryn Pavlovsky, a principal with Deloitte Financial Advisory Services LLP, and leader of Deloitte's Corporate Responsibility & Sustainability Services group. "Corporate leaders have demonstrated not only an understanding of the CR&S imperative and its importance globally, but also recognize the interdependencies between environmental and social performance and the basic rationale of business: to create value for stakeholders."

Hespenheide, Pavlovsky, and Christopher Park, lead principal of Deloitte's Enterprise Sustainability service offering are available for commentary and further discussion about Deloitte's Risk Intelligent Corporate Responsibility & Sustainability point of view. Please contact Daniel Mucisko at 212-492-2870 or dmucisko@deloitte.com to schedule an interview.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see http://www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms. Please see http://www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

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