The increase of social and environmental responsibility by business, linked to the principle of corporate accountability, represents an essential element of the European Social Model and of Europe’s strategy for Sustainable Development, according to the European Parliament which adopted an own initiative report by Richard Howitt (PES, UK) on Corporate Social Responsibility.
The report underlines that Corporate Social Responsibility (CSR) policies should be promoted on their own merits, neither as a substitute for appropriate regulation in relevant fields, nor as a covert approach to introducing such legislation. Agreeing with the Commission of the term, the EP defines CSR as “the voluntary integration of environmental and social considerations into business operations, over and above legal requirements and contractual obligations” The Commission is called upon to encourage dissemination of good practice resulting from voluntary CSR initiatives and believe that the Commission should also consider establishing a list of criteria for enterprises to respect if they claim to be responsible.
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Sustainability and the environment will be one of the leading topics at an international meeting on nonwovens to be held in Berlin, Germany by EDANA, the European Nonwovens and Disposables Association.
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Within the next two years, 89% of companies in the United States and 62% in Europe plan to use technology to manage their corporate social responsibility (CSR) initiatives, according to a new AMR Research survey. However, while environmental issues are of prime importance in Europe, U.S. firms seem to be ahead in the integration of CSR-related data systems.
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SUSTAINABLE FIRMS. Green businesses. Socially responsible corporations. A growing number of magazines, activist groups and websites publish such lists, suggesting that one can distinguish the good companies from the bad.
The claim that such distinctions are possible is likewise central to ethical mutual funds, indexes and stock rating services that recommend “responsible” investing – with some even asserting that “better” firms have superior financial performance.
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Collaborative initiatives bring together companies, investors, and activists to address issues such as online freedom of expression, climate change, and labor rights in the global supply chain.
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On Wednesday, January 24, 2007, Innovest Strategic Value Advisors will officially launch the third Global 100 list of the most sustainable corporations in the world at the World Economic Forum in Davos. The G100, initiated by Corporate Knights Inc. with Innovest as the exclusive research provider, includes companies from 16 countries in sectors ranging from Oil and Gas to Wireless Telecommunication Services that were evaluated according to how effectively they manage environmental, social and governance risks and opportunities, relative to their industry peers.
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Doing well and doing good is a pretty popular notion these days, especially among the world’s largest corporations. That’s a good thing. After all, who else has the financial resources and the influence to tackle pressing problems like the AIDS epidemic in Africa, cancer and global warming? Here’s our special report on the businesses trying to transform themselves into corporate citizens.
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The International Organization for Standardization (ISO) has signed a Memorandum of Understanding with the United Nations Global Compact Office. The purpose of this Memorandum is to encourage cooperation and mutual support between ISO and the Global Compact Office. Specifically, both parties agreed to collaborate extensively on the development, promotion and support of the new ISO International Standard on Social Responsibility, which will be consistent with the Global Compact’s ten principles. “This collaboration marks a major step forward for coherence in the field of social responsibility and lays a key foundation for the development and future success of the SR standard itself,” said Georg Kell, Executive Director of the Global Compact Office.
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The Global Environmental Management Initiative (GEMI) and Business for Social Responsibility (BSR) announced the results of their first ever joint benchmark survey, “Sustainable Business & Strategy: Views From the Inside.”
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Up until early November, UK companies were not required to file CSR reports. With the passing of the Companies Act; the largest bill to pass through Commons, directors will have to report on what they are doing and therefore, having to consider how it affects the community and environment. The Companies Act makes it mandatory for business to report anything concerning the welfare of the employees, community, environment and the company itself. It will allow shareholders and the general public to judge companies’ performances.
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In an exclusive feature for MJ Online, Andrew Howard, a management consultant specialising in corporate social responsibility, looks at the relationship between the finance community and mining companies – and the need for the latter to adopt a sound social and environmental strategy.
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The World Business Council for Sustainable Development (WBCSD) announced today that Herman Mulder, former Senior Executive Vice President of ABN AMRO, will be working with the WBCSD as a Senior Advisor to the President. Mr. Mulder’s appointment will be for an initial duration of twelve months.
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