A recent study – “CSR Trends” reviewed 602 companies listed in five Standard & Poor’s indices, as well as private companies and crown corporations. The survey does not evaluate the accuracy of the information being reported in the documents or a company’s compliance with any regulation but rather how effective companies have been in communicating their CSR strategies and performance.
The results show that CSR has changed from a nice activity to a core business value that defines the most significant businesses in the world. There are, however, differences in the way CSR results are communicated and here are some key findings:
– 81% of companies have CSR information on their websites but only 50% consider this information sufficiently important to deserve a link on the corporate home page;
– 80% of the companies, many of them worldwide brands such as Coca Cola, Nike, IBM, provide comprehensive explanations of their business activities. Surprisingly, 20% of the companies, many of them smaller and less well known than the multinationals mentioned above, did not provide a profile, essentially eliminating the context of their CSR strategies and achievements;
– Targets that are specific, measurable and have a deadline are significantly more meaningful than a general statement of good intend. Nevertheless, only 65% of companies seamed to realise that and include a summary of objectives on a dedicated space inside the report and only 27% of those objectives have been quantified.
– CSR is an interactive endeavour that requires constant communication with stakeholders. However, only 24% of companies use social media such as Twitter or Facebook to communicate their CSR activities.
This survey’s research was conducted jointly by PricewaterhouseCoopers’ Sustainable Business Solutions practice and Craib Design & Communications. The entire report can be downloaded here.