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Failure to Manage Corporate Responsibility Puts Shareholder Value at Risk

Submitted by: Ethical Corporation

Categories: Corporate Governance

Posted: Apr 09, 2003 – 12:00 AM EST

 

Transparency, environmentally responsible procurement and standards for verification seen as top three factors important to managing corporate social responsibility.

Apr. 09 /CSRwire/ - NEW YORK, NY A new report titled “The Business of Business” based on a survey of over 160 corporate responsibility professionals conducted by Ethical Corporation magazine and independent research firm Nima Hunter, Inc. reveals broad consensus on a number of issues critical to management of corporate social responsibility (CSR) and sustainability. In addition, the study provides insight into knowledge gaps and divergent opinions about strategies and tactics best suited to creating shareholder value through effective CSR management.

Here is what business leaders and CSR professionals are saying about the “Business of Business” report:

“This report clearly shows how, by being responsive to the expectations of a company's stakeholders, CSR becomes a strategic activity that builds shareholder value and strengthens the brand.”
- Pierre Danon, CEO, BT Retail

"Corporate Social Responsibility, Sustainable Development, Corporate Citizenship - whatever the term, this report confirms the emerging view by enlightened business leaders that a comprehensive, integrated program can indeed lead to increased shareholder value. The data is credible and the emerging successes from these companies will make the case compelling.”
- Scott D. Noesen, Director of Sustainable Development, Dow Chemical Company

“Well written, very clearly presented. This report shows the current thinking of CSR leaders, what's important and what's not. It is a valuable tactical tool for making the link between CSR and areas for making each business case.”
- Dave Bonistall, Director, Sustainable Development
MeadWestvaco Corporation

“The questions asked are probing and fair and the results should be interesting to business and non-business interests alike. Congrats on a very helpful study.”
- Dr. Kernaghan Webb, Senior Legal Policy Analyst, Office of Consumer Affairs Industry Canada, Facilitator, ISO Corporate Social Responsibility and Standards Online Forum,

Results of the survey indicate overwhelming agreement by CSR professionals that effective corporate social responsibility management creates shareholder value. However, despite increased investor and stakeholder interest in environmental and social performance, the survey findings make it clear that corporations have yet to take adequate action to change perceptions of corporate environmentalism as superficial “Greenwash.” According to principal investigator Don Carli of Nima Hunter Inc. “Failure to manage corporate social responsibility places shareholder value at risk. Failure to close the gap between perceptions of greenwash and verifiable CSR performance places the brand equity and reputation of well managed companies in peril.”

An 80 page report containing an executive summary, detailed findings, analysis of the survey results and recommendations has now been completed. The report is available in PDF format for US$149.00. Subscriptions to the report in PDF format are available to Ethical Corporation Magazine subscribers for US$99.00. For more information about subscription to the report send email to: peter.carkeek@ethicalcorp.com

About Nima Hunter, Inc.

Nima Hunter, Inc. is a New York based consultancy founded in 1986 that conducts marketing research and provides executive briefings, strategic planning, and business development support to Fortune 1000 companies, publishers and associations worldwide. In addition to conducting proprietary research for individual clients, Nima Hunter, Inc. is currently leading a benchmark multi-client research program called "The Greening of Print. Supporters include charter subscribers Hewlett Packard and the Anderson Lithograph division of Mail-Well Inc. as well as Presstek, The Woodside Institute for Sustainable Communication, The Environmental Careers Organization, North American Publishing Company, Seybold Publications, Aktuel Grafisk Information, and Ethical Corporation Magazine. Nima Hunter Inc. is also currently conducting interviews with business leaders and technology visionaries for a 32-page North American Publishing Company special advertising supplement focusing on innovative approaches to sustainable publishing, printing and packaging.

About Ethical Corporation and Ethical Corporation Magazine

Ethical Corporation is a leading information provider on corporate social and environmental responsibility issues. Ethical Corporation magazine is a monthly global business publication dedicated to providing companies around the world with practical advice and examples of how to successfully implement and manage responsible corporate practice. Ethicalcorp.com is a leading destination site for those with a professional interest in developing and integrating responsible business practice. Ethical Corporation conferences and workshops, held across the world, bring together key industry players to discuss the latest developments in CSR. By holding a series of conferences globally throughout the year Ethical Corporation is able to provide attendees with the fresh innovative information that they need to maintain a clear understanding of the latest CSR trends and the necessary tools to best implement them. To access details of upcoming conferences and workshops or to subscribe to Ethical Corporation magazine visit: http://www.ethicalcorp.com

For more information, please contact:

Don Carli Nima Hunter, Inc.
Phone: +1-212-922-9899
Peter Carkeek Ethical Corporation magazine
Phone: +44 (0)20 7375 7160

 

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