Many leading firms want to be a force for good, both at home and overseas. The anti-globalization movement, as well as the events of September 11, have given added cause for businesses to look closely at the impression they make in foreign markets. But few of them know how to adapt their social programs to different cultures and expectations.
A new study shows that companies that develop a well-engineered international community involvement strategy, and are open and transparent in communicating what they do, not only make a positive social impact, but can head off potential misunderstandings of their motives. The study, Benchmarks for International Corporate Community Involvement, was recently released by The Center for Corporate Citizenship at Boston College and the British firm, ProbusBNW Limited.
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The Global Reporting Initiative (GRI), convened to develop an internationally accepted framework for sustainability reporting for businesses and other organisations, announced today the appointment of fourteen members to its first Board of Directors. This announcement brings a year long independent board nomination process to a close, and positions GRI for its official inauguration as an independent international institution.
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As a follow-up to the Green Paper on CSR, the Commission is preparing a policy communication on corporate social responsibility (CSR).
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By a margin of 5:1, the British public believe that it is more important that companies should show a high degree of responsibility in difficult economic times, according to MORI’s annual general public survey on Corporate Social Responsibility.
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The CSR and Standards Forum was created in August, 2001, following the May, 2001 meeting of ISO COPOLCO (Consumer Policy Committee) in Oslo, Norway.
The purpose of the Forum is to facilitate worldwide discussion of the
possible role of standards (i.e., standards developed through the formal
standards system, at the national and international level) to articulate and promote the concept of corporate social responsibility. The Forum is designed to provide a mechanism for increasing awareness and promoting constructive discussion of new and existing corporate social responsibility initiatives (be they developed through the standards systems or not), and their relevance to existing or potential standards projects. It is recognized that widespread private sector adherence to corporate social responsibility criteria is likely to be the result of a combination of approaches, including inter-governmental agreements, domestic legislative and regulatory techniques, standards developed through the formal standards system, voluntary codes, and education/information approaches.
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(Gepubliceerd in Het Financieele Dagblad van 17 december 2001).
Beleggersrelaties
De relatie tussen grote beleggers en de ondernemingen waarin ze beleggen is aan het veranderen.Ewen Cameron Watt beschrijft het veranderende landschap
Ewen Cameron Watt is mondiaal hoofd beleggingsstrategie en -onderzoek bij Merill Lynch Investment Managers.
Twintig jaar geleden werden jonge beurshandelaars vaak begroet met de instructie: ‘Er is geen vervanging voor inside information’. Hoewel de stelling grappig bedoeld was, school er toch veel waarheid in. Aandelenanalyse was gebaseerd op ‘geïnformeerde’ briefings aan de aan- en verkoopspecialisten. De term ‘beleggersrelaties’ betekende in veel markten letterlijk een familierelatie van beleggers met de grootaandeelhouder. Minderheidsaandeelhouders waren in alle opzichten in de minderheid.
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The Society of Motor Manufacturers and Traders in the United Kingdom recently released their 2nd Annual Report, which is believed to be the world’s first sector-level report aligned with the GRI Guidelines.
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The december 2001 update from the Global Reporting Initiative (GRI), guidelines for sustainability reporting.
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Sustainability and UNEP published a new report in the Engaging Stakeholders Reports serie about sustainability reporting on the web: “Virtual Sustainability”.
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In a speech sponsored by the Georgetown Business Ethics Institute on November 28, 2001, Ewald Kist, chairman of the executive board of Amsterdam-based ING Group, one of the world’s largest financial services institutions, said that transparency and balance are the keys to doing business responsibly in the 21st century. He urged his peers in the private sector to respond to heightened public expectations by elevating standards of corporate citizenship.
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The market may be in a slump, but socially responsible investing is growing at a strong rate. Assets in socially screened investment portfolios under professional management rose by more than a third from 1999 to 2001 to top the $2 trillion mark for the first time ever, according to the Social Investment Forum’s 2001 Report on Responsible Investing Trends in the United States, a study released today. The 36 percent growth rate is over 1.5 times the 22 percent rise reported for all investment assets under professional management in the United States during the same two-year period.
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A group of financial institutions: Co-operative Insurance Society, Ethos Investment Foundation, Friends Ivory & Sime, Henderson Global Investors, Jupiter Asset Management, Morley Fund Management, PGGM and the Universities Superannuation Scheme have joined forces to launch ‘Business Involvement in Myanmar (Burma) – A statement from institutional investors.’ Collectively the Group represents almost Ã??400 billion in funds under management.The statement outlines the concerns raised by the presence of a military dictatorship in Burma and highlights the risks to shareholders in investing in companies that have interests in the country. The Group suggests that companies operating in unstable political climates can be exposed to loss of shareholder confidence, negative press and publicity campaigns, safety risks and corruption. In the case of Burma, there is also the possibility of a democratically elected government returning to power and penalising companies that supported the military regime.
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