Corporate boards are putting more pressure on CEOs to build corporate reputation, which is perceived as more important than it was four years ago by global company CEOs, presidents and chairmen who responded to the survey conducted by recruitment firm Korn/Ferry International.
The fifth annual corporate reputation watch survey was conducted in conjunction with ORC International in August and September 2003. Some 257 executives with qualifying titles of CEO, president or chairman from 199 public and 54 private companies across the US, Asia and Europe were surveyed.
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CSR Europe has invited key stakeholders to explore the concept of sustainable trade and what it means for the business community.
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British Petroleum and Royal Dutch Shell received strong ratings for their policies in ethics, transparency and corporate social responsibility. Both got ‘B’ ratings on a scale of A (highest) to D (lowest). These are the first ethics ratings to be given to oil companies and are significant for investors. Oil companies are ethically high-risk companies, being regularly plagued by oil spills, chemical explosions, fatalities, litigation and management scandals. A landmark study by international ethics rating agency Management & Excellence (M&E) finds that oil companies are investing more in equipment, social policies and employee trainings, resulting in fewer mishaps.
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As of this week, visitors to the WBCSD’s Sustainable development reporting portal can access quick and easy information detailing which member company is reporting, on what, and when.
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A number of developments relevant to CSR have happened at the ISO level over the past few months:
(1) the ISO Advisory Group on Corporate Social Responsibility has met, and worked out a process for selecting a service provider to assist them in
developing a “state of the art of CSR and issues” document, and timelines for this and related items;
(2) the ISO Consumer Policy Committee has met, and issued a recommendation concerning ISO CSR work;
(3) the ISO Technical Management Board has met, and provided guidance concerning next steps;
(4) the service provider has been selected to develop background work for the Advisory Group’s report on the state of the art of CSR and issues
document;
(5) timelines for future work have been clarified; and
(6) two new members to the Advisory Group have been added.
Each of these six items is discussed in more detail below.
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Echo Research, global specialists in reputation audit and analysis, today reveals the findings of its third international corporate social responsibility (CSR) report – ‘CSR and The Financial Community – Friends or Foes?’ Via a mix of face-to-face interviews with financial community leaders in UK, US, Australia, France, Germany and South Africa, plus an analysis of over 5,000 CSR-related media mentions, Echo reveals the trends and ways forward for greater CSR adoption and validation, and posts its influential CSR ‘saints and sinners’ listing.
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The EU Multi Stakeholder Forum on CSR discussed reporting and socially responsible investment during its meeting of 22-23 September 2003.
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Although Nike reached an agreement with Marc Kasky to end his lawsuit, the settlement’s effect on corporate social responsibility reporting remains to be seen.
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The most comprehensive survey ever conducted on corporate social responsibility (CSR) teaching and research in European academic institutions was launched today by the European Academy of Business in Society (EABIS) and the Nottingham University Business School’s International Centre for Corporate Social Responsibility (ICCSR).
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Small-scale coffee farmers around the world scored a victory this week when Procter & Gamble (NYSE: PG), the largest seller of coffee in the U.S., announced that it would introduce Fair Trade Certified(tm) coffee products through its specialty coffee division, Millstone.
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A new report on the global computers and peripherals industry finds a strong correlation between sustainability leadership and return-on-investment and operating profit. The report, released by Innovest Strategic Value Advisors Inc., assesses a wide spectrum of key industry trends and market activity associated with social, environmental, and corporate governance issues and their impacts on corporate bottom line and share price.
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In a joint announcement today, the
parties to Kasky v. Nike, a lawsuit which prompted a U.S. Supreme Court
review exploring the question of what constitutes free versus commercial
speech, have agreed to settle the case. The two parties mutually agreed that
investments designed to strengthen workplace monitoring and factory worker
programs are more desirable than prolonged litigation.
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