List released at roundtable on driving value through sustainable supply chain management
Submitted by: SharedXpertise
Posted: Jul 18, 2012 – 12:24 PM EST
WASHINGTON, Jul. 18 /CSRwire/ - Corporate Responsibility (CR) Magazine today released the 3rd annual Best Corporate Citizens in Government Contracting List online and at the ResponsibilityWorks Roundtable on sustainable supply chain management which also featured preliminary results from its global research into the practices that are actually producing the greatest value -- both in terms of ROI and sustainability outcomes.
“Our Best Corporate Citizens in Government Contracting List shines a light on the reporting practices of the largest government contractors, and demonstrates the increasing focus of most of these companies on improving transparency,” notes editor-in-chief, Dirk Olin.
CR Magazine research has shown that overall disclosure performance improved by 5% over the prior year. Performance improvements are particularly strong among government contractors outside of the “best” of this year’s list; while performance remains strong among the best, the “rest” showed 11% improvement in performance over 2011. At the same time, 3-year average returns to shareholders among the very best outpaced the rest by over 50%, demonstrating the financial benefits of transparency. IBM, Accenture and HP held on to their top positions in 2012, once again signifying their long-term commitment to openness in reporting.
CR Magazine first introduced this list in 2010 to encourage government to take a broad set of factors – including transparency in reporting as well as key performance measures – into consideration when making buying decisions. This underscored the increasing focus being placed on responsibility across the Federal government, with the Executive Order on Greening the Supply Chain in October 2009 and the Open Government Directive later that year. Each year, the list release coincides with the annual roundtable hosted by the Corporate Responsibility Officers Association (CROA) ResponsibilityWorks steering committee, which works closely with federal and state government, non-profits, NGOs, and industry, to integrate these factors into responsible procurement.
As part of its ongoing commitment to seek out best practices and help drive performance improvement in this area, CR Magazine, along with CROA, the American Society for Quality (ASQ), the Institute for Supply Management (ISM), and with the help of Deloitte, has undertaken a multi-phase global research program consisting of electronic survey, direct interviews, and case studies that will continue for the next two years to provide longitudinal data. The team presented preliminary findings and sought input on avenues of future study.
Richard Crespin, executive director of CROA says, “Through its significant reach and vast supply chain, the U.S. government has the power to change the pace and impact of sustainability both in this country and around the world. The list helps drive attention to the value of transparency and our ongoing research helps improve sustainability performance across the entire supply chain.”
The methodology for the list is the same as that for CR Magazine’s 13 year old 100 Best Corporate Citizens List with one additional data slice. It comprises publicly-available data from Russell 1000 companies, collected and analyzed by leading ESG investor data firm IW Financial, and then further refines that universe by identifying the overlap with the top 100 government contractors for FY2011 (according to USASpending.gov). That universe of contractors, totaling 40 this year, is then ranked based on 318 data elements in seven weighted categories: climate change, employee relations, environment, financial, governance, human rights, philanthropy. Additional methodology details are available at www.thecro.com.
The 2012 Best Corporate Citizens in Government Contracting List can be found online at: http://www.thecro.com/content/contractual-responsibility
About CR Magazine www.thecro.com
CR Magazine is the voice of the corporate responsibility profession covering case studies, best practices, and trends in the 5 primary segments of the CR profession: a) Governance, Risk, Compliance, b) environmental sustainability c) Corporate Social Responsibility, d) philanthropy, and e) workforce/diversity.
About The Corporate Responsibility Officers Association (CROA) www.CROAssociation.org The CROA and its members transform ideas into action, advancing corporate responsibility (CR), the profession, and their careers. As the single largest independent CR professional society, CROA supports the concept that to excel, organizations need to embrace all CR disciplines: sustainability, governance, social responsibility, and philanthropy. Our mission is to promote the practice and profession of corporate responsibility in service of good business.
About ResponsibilityWorks www.CROAssociation.org/ResponsibilityWorks
The ResponsibilityWorks roundtable was formed by the CROA in June 2010 to convene leaders in government, industry, and academia committed to improving transparency and responsibility among government contractors. The roundtable’s work has expanded to fostering and evolving corporate responsibility measurement and disclosure in sustainable supply chains across both the public and private sectors. Through a vibrant community of practice, cross-sector leaders will collectively produce models, measurements, and recommendations to drive transparency and accountability over the next quarter century.