Published 06-17-03
Submitted by BSR
“Leadership companies are taking a hard look at how their business can improve their contribution to economic development. Many are starting with pilot projects at a site level that will help them increase knowledge about their company’s overall impact. While there is still no fully established standard for measuring and managing economic impact issues, this research provides insight from business managers and stakeholders that will help others move forward”, added Mark Lee, Vice President, Business for Social Responsibility.
Two global corporate responsibility groups, London-based AccountAbility and San Francisco-based Business for Social Responsibility release this challenging and important report today, in association with Branford, CT-based consultancy Brody Weiser Burns. Funded by The Ford Foundation, “Business and Economic Development: The Impact of Corporate Responsibility Standards and Practices” examines the economic effects of core business activities such as where to site facilities or whom to employ in relation to low-income groups. It also addresses the public policy implications of corporate lobbying on key issues such as taxes and subsidies.
The study recognizes that this issue is increasingly scrutinized by investors and regulators. Mistrust of the real economic intentions of companies is also driving anti-globalization protests at events such as the World Economic Forum in Davos, Switzerland, which saw more riots earlier this year.
The report is based on insightful discussions with global corporations such as Ford Motor Company, Novo Nordisk A/S, SABMiller, Shell International, Sydney Water and other global corporations, as well as governments, investment organizations, international labor groups, and non-governmental organizations (NGOs). This is complemented by an analysis of leading corporate responsibility standards, and social and sustainability reports.
Welcoming the new initiative is David Berdish, Corporate Governance Manager at Ford Motor Company, the second largest manufacturer of cars and trucks in the world, who added:
Since 1992, Business for Social Responsibility (BSR) has been providing socially responsible business solutions to many of the world's leading corporations. Headquartered in San Francisco, with offices in Europe and China, BSR is a nonprofit business association that serves its 250 member companies and other Global 1000 enterprises. Through advisory services, convenings and research, BSR works with corporations and concerned stakeholders of all types to create a more just and sustainable global economy. For more information, visit www.bsr.org.
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