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HomeCompanies & CSRCSR and sustainability are ´essential´ for companies
Report on Corporate Social Responsability

CSR and sustainability are ´essential´ for companies

Companies believe corporate social responsibility (CSR) and sustainability reports are "essential" according to a survey.

Ninety per cent of respondents in a poll conducted by the European Sustainable Investment Forum (Eurosif) and the Association of Chartered Certified Accountants (ACCA) subscribed to this view. Meanwhile, 85% said annual reports were similarly important.

The findings follow European commission proposals regarding non-financial reporting. It stated in April that the social and environmental transparency of certain large companies needed to be improved.

Current non-financial disclosure was seen as lacking by survey respondents, with 93% claiming that current investor information was difficult to compare between companies.

Some 86% of companies surveyed said sustainability was embedded in their firm’s strategy. Meanwhile, more than half (68%) said they often discussed sustainability-related risks and opportunities with investors.

The research also found that while governments might not play a significant role in defining corporate sustainability agendas, consumers do. In fact, 61% of companies named this group as the primary driver in implementing corporate social responsibility (CSR) practices.

Resources scarcity worries 51% of businesses, and water in particular is seen as the resource most at risk. Extreme weather and climate-related issues are being increasingly considered by companies.

Half of respondents said that investors have asked them about sustainability more in the past 12 months than in the past.

In April, a survey found that the way a company communicates its sustainability practices positively affects its performance and reputation. According to another study, CSR practices promoted at the workplace are likely to be followed by employees at home.


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