Posts Tagged 'Corporate Social Responsibility'

Twittering Responsible Business Summit: Part 1

Published 26 May, 2009 Articles 1 Comment
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Tweeting RBS09

Earlier this month I had the pleasure of Twittering The Responsible Business Summit Live from London, here is Part 1 of “The Journey of Hastag #RBS09″

First few tweets (Tuesday 5th May) were about how excited everyone was at the tweeting that was going to happen at the Responsible Business Summit and the introduction of the #rbs09 hashtag, from @Ethical_Corp, @davidcoethica, @mrochte and myself.

A bit of real information then started coming through with a link to @Ethical_Corp founder Toby Webb’s post ranking the sessions at the conference by number of registered attendees (in case you were wondering, Embedding CR in your Company and Supply Chain Management came out tops).

Then came questions from both me and @davidcoethica to our followers, wondering if anyone else was going to be at the summit. I don’t know about David but I didn’t get any responses.

At the same time @Ethical_Corp used the attendance of CEOs of Timberland, IKEA and the Chairman of Shell to gain further interest. Which proved to be successful as it was retweeted by Chris Jarvis @RealizedWorth and @SteelyGreen.

Word also seemed to getting out of the hashtag-o-sphere with @robarj (Ryan Jones, Global Brand Manager at P&G) tweeting about the conference and Mario Vellandi @mvellandi retweeting it adding #rbs09.

 A day before the conference @davidcoethica sent out a list of sessions happening during the conference and asked the community if anyone had any questions, immediately retweeted and replied to by @RealizedWorth who was interested in employee engagement (I am guessing because Chris’s profession is creating great employee volunteering programs).

In the same day, the first exhibitor came online, Charles Bosher @cbosher, Corporate Membership Manager at the NCVO, tweeted being ‘weirdly looking forward’ to the conference.

The claim to 1st Tweet on conference day went to neither me nor David with Martin Smith @Martin_CSR, CEO of JustMeans, claiming the prize.

But what definitely kicked off the questions was @davidcoethica tweeting that he had just arrived at the conference and was taking questions. Retweeted by Ginee @loopyginee.

@SSRIMikeTyrrel How do co’s plan to communicate sust. Perf. To investors now that banks thar organised meets for them are closed?

@RODIEN When will a treaty be signed by the worlds (business) leaders that CSR in EVERY company is mandatory?!

@MsNotMr I’m curious about Green & Blacks and what they are doing to promote responsibility in their industry

@Martin_CSR You should ask the opening panel how they plan to use social media to better engage stakeholders

@Martin_CSR also took the opportunity to tweet about a new podcast about Timberland’s Sustainability strategy just before their CEO’s keynote, fantastic timing. This was immediately followed by the JustMeans crew jumping on with a few retweets of @Martin_CSR from co-founder @KevinEdwardLong and the official @justmeans_CSR account.

Words of encouragement came through too

@fair_ruth Hope #rbs09 goes well, would be interested to hear more

Then the summit kicked off.

(Look out for Part 2 later this week)

T-Mobile CSR: An Interview

Published 2 December, 2008 Articles , CSR Leave a Comment
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t-mobile-logoAn interview with Jitka Chocova, CSR Manager, T-Mobile (Czech Republic).

What part does CSR play in your company?
A very important one, we started with a responsible approach towards our business in 2005, since then we have worked to ensure that CSR becomes a vital part of our company culture. Naturally it is long journey, but judging by the reaction of our employees and community, we are doing fine so far. The people in our company accept the fact that CSR is an important part of business in T-mobile.

Does CSR contribute to higher earnings or customer satisfaction?
According to various studies, research and experiences around the world, CSR certainly leads to improved company performance, that is without question. But the truth is, some aspects of success are hard to measure (mentioned in: Do the Math on CSR). I’ll give you an example, in companies that are running CSR programmes, employees feel much better, their work, which now comes with a greater sense of purpose, brings them higher satisfaction. So it’s not only about numbers.

What results is that employee efficiency increases, something that is hard to measure. This is representative of the situation in T-mobile. CSR obviously has had a very positive impact but in order for me to present concrete numbers about revenue or profit I would have to conduct detailed research.

Jitka Chocova, CSR Manager, T-Mobile

Jitka Chocova, CSR Manager, T-Mobile


What belongs to the Job Description of a CSR Manager?
A CSR Manager is a person who, in cooperation with company management, creates the entire CSR strategy and is responsible for its integration into the everyday work of the company. It encompasses a wide portfolio of activities that include philanthropy for regions where we are active (T-mobile fund), projects focussed on employees, “one day for your good deed”, protection of the environment and representation of the company in associations and professional groups.

What do you consider your biggest success since assuming your position?
Definitely, it would have to be the fact that since 2005 the CSR budget has quadrupled. The 2nd biggest success is that CSR has become a part of the culture in T-mobile, people know about CSR and it’s an integral part of our everyday life. For example, I refer to our volunteer programme, “One day for your good deed” where more and more people have gotten involved (in 2005 it was 109, this summer it was 369), this year all our directors participated as well.
I’m also really glad that I have had a chance to participate in the DMS project (SMS charity giving), it’s a very unique project that managed to help NGOs raise around 200 million.

1st published in Czech in KB Journal.

ESG as Risk Management

Published 27 November, 2008 Articles , Responsible Investment 1 Comment
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WBCSD LogoIs investing just by looking at financial statements ‘so last year’ ?

Investment analyses that include CSR related metrics (previously mentioned in “Do the Math on CSR“) are increasingly being seen as the way of the (very near) future.

Robeco, a dutch financial services provider, predicts the market for investment products that take into account these CSR metrics will be brought into the mainstream by 2015, constituting 15 – 20% of global assets under management (AUM).

“It’s a tool for better assessing risk” Head of the CFA Institute’s Centre for Financial Market Integrity, Charles Cronin, says of ESG, “People don’t want any surprises these days (…) An ESG framework helps you manage an aspect of risk”

“Responsible investors benefit from better risk management, greater transparency, and an active engagement with companies to promote better management” Oxfam Policy Analyst, Helena Vines Fiestas

Demand for these investments also comes from the ‘the global consciousness’ being rapidly more concerned about climate change and the environment. Christian Werner, Sustainable Asset Management’s (which Robeco owns a 85% stake in) Chief Investment Officer, explains, “If we don’t investment in these companies fast, we won’t get anywhere near the solution” referring to the argument that growth will have to come from these sectors if the future of humanity is to be secure, and therefore they provide an excellent investment opportunity.

Major players have also been getting in on the action:

- Deutsche Bank recently published “Investing in Climate Change 2009: Necessity and Opportunity in Turbulent Times” (Also mentioned at Envirovaluation)

- HSBC has instituted a Climate Change Centre of Excellence headed by co-author of “Sustainable Investing: The Art of Long Term Performance”, Nick Robins

- Goldman Sachs is about to launch Sustain, a concept which will form the basis of a fund that draws on environmental, social and demographic developments to predict investment success

Based on an article by Sophia Grene, published in the Financial Times: Find it Here

Do the Math on CSR

Published 22 November, 2008 Articles , CSR 2 Comments
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CSR Simply Works Better Is there such a thing as a ‘Typical CSR Practitioner’ ? When we think of such a role do we imagine someone with significant ‘on the ground’ experience with expertise in Environmental Management or Community Relations or are we imagining an individual with a several years of financial management experience and a CPA?

Chances are most of us would imagine the former, a highly passionate advocate of responsible business often with significant NGO experience.

This is probably not too far from the truth, most CSR practitioners cannot boast of a highly developed understanding of financial metrics, the difference between return on assets (ROA) and return on equity (ROE) for example.

These metrics are key however as they are the language of the accountants, those with financial expertise and often express real concerns that the financial impact of CSR activities are acutely difficult if not impossible to definitively measure.

More important, these metrics are the language of the boards, where strategic decisions regarding CSR are made.

CSR has however been effectively correlated with several metrics that boards do understand.

- Price Premiums with Consumers (see: Doing Good Trumps Design and Innovation)

- Greater Employee Satisfaction

- Favour with Regulators

For more firms to move beyond elementary CSR decisions, such as implementing energy efficient light bulbs because they represent direct future savings in energy expenses, a greater number of metrics which ‘speak the language’ of accountants and boards needs to be developed.

Business schools are a key catalyst towards the development of these metrics via 2 actions:

- Training Individuals with Financial Experience in the fields of Sustainability and Stakeholder Relations

- Training Individuals with NGO & Community Relations Experience in the Langauge of Business

Beyond Grey PinstripesAn increasing number of MBA programs incorporating social and environmental perspectives into their courses and also dedicated CSR modules. An overview of these programs can be found on the Aspen Institute’s “Beyond Grey Pinstripes” report published annually.

I anticipate that very soon, we will see a growing number of ‘Bilingual’ CSR Practioners, in touch with communities and environmental issues while also comfortable in a boardroom, generating metrics that business decision makers will easily understand.

Inspired by: Prof. John Peloza‘s article on the Financial Post and Katherine Liew’s post “Why everyone should work in an NFP”

Collective Agreements = CSR ?

Published 19 November, 2008 Articles , Social Development Leave a Comment
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MPSVThe Czech Ministry of Labour and Social Affairs (or MoLSA, its hip new Acronym) Website is a wonder.

It communicates that the Ministry believes that CSR asserts itself in the Labour Law in the form of… Collective Agreements! These uncanny instruments that allow for employees and employers to agree upon obligations “above the statute-given minimum”.

Weeks ago, I had the pleasure of delivering a lecture to a group of students at VSE, the country’s most prestigious business school, on CSR and remember a lament by a professor.

“CSR around here, is sadly too often corporations grudgingly complying with regulations set by the Government… and now, the EU” – VSE CSR Professor

How long will it take for business owners in the region to see that CSR makes strategic sense?

How long will it take for the notion that profitable & responsible business is not an oxymoron.

I have found the above one of the hardest things to communicate in a society where corrupt politicians are viewed to be a given, a matter of course.

Endnote

Click MoLSA Information’ on its front page, you will be presented with 3 items, 3 pieces of information which the Ministry apparently believes is all you need to know about them.

1. Contact Information (fair enough)

2. Basic Indicators in the Czech Republic 2002 (and they do not mean FROM 2002)

3. Petr Nucas – Curriculum Vitae (This is the current Minister’s CV, should anyone be in the market for one)

Asia & The Cost of Extreme Weather

Published 8 November, 2008 Articles , Carbon Management , Environment 2 Comments
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Carbon Disclosure Project Launch

Carbon Disclosure Project Launch

Last Month in Taipei saw the launch of this year’s edition of the CDP (Carbon Disclosure Project) Report for Asia Ex-Japan conducted by ASrIA (Association for Sustainable & Responsible Investment in Asia).

The report has seen increasing participation over the years with this year’s edition involving 220 companies throughout Asia (Taiwan, Korea and Singapore in particular had high response rates). Not only has the report increased in breadth but also in the depth of responses it does receive.

This year’s responses were noted to have significantly moved past generic responses to more specific disclosures with many more companies willing to report on initial climate change work.

Traditional leaders in ESG within Asia have been observed to be experimenting intensively with targets and metrics which could very well define Carbon Leadership in the region.

Also highlighted is proof that the the Global Power Brands are working with some success in encouraging their extensive supply chain to begin reporting on carbon emissions.

Extreme Weather Events: A Material Risk to Facilities & Supply Chains

One of the key themes of the report was the rise in recognition of extreme weather events as requiring both mitigation and adaptation.

Specific weather events cited include:

Man Stoking Forest Clearing Fires in IndonesiaHaze over Kuala LumpurSand Storm Engulfs Chinese Cities

Hynix, a Korean semiconductor supplier, specifically disclosed that its operational processes were permeated by yellow sand from these Sand Storms, causing damage to products and plant.

Basic recognition is widespread with 70% of respondents citing the potential of Weather Events to:

  • Disrupt Production
  • Interrupt Services
  • Impact Assets

However only a handful of companies have delved further to highlight information such as the consequent impact of weather events on production cost.

A major catalyst for enhanced risk management in this area are the Climate Change Assessment Processes conducted by ESG consultants and their uncovering of the greater impacts of weather risk. Examples of enhanced risk management include being insured for ‘Climate Change driven Financial Risk Management’ as disclosed by LG Electronics.

There are some companies however that indicate that they do not perceive weather events as potential business risks at all, one of these companies is Tata Steel.

We are not affected by Weather Events, Change in the Weather Pattern, Rising Atmosphere or Sea Level RiseTata Steel

Lastly, some companies actually report potential benefits from these weather events. Members of the Telecoms industry for example cite the potential for these events to allow them to demonstrate the potential of mobile communications and the potential for their technologies to be employed in the development of environmental monitoring solutions.

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