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Brands fail to reveal value of CSR
Brands are failing to account for and display the value of their corporate social responsibility (CSR) initiatives, unwittingly hiding billions of dollars worth of valuable environmental and health-related contributions. According to a study by the British Brands Group, recognisable cases of corporate giving are just the tip of the CSR "iceberg".
Among the initiatives mentioned in the report is the campaign by UK supermarkets to discourage use of plastic bags. According to Defra, annual UK consumption of single-use plastic bags almost halved between 2006 and 2009.
If systems were in place to account for all brands' CSR activities, companies would have a greater incentive to launch new initiatives. Those firms that are already spending money and resources on CSR would have their efforts reflected in their brand's value.
The findings could be increasingly relevant as companies question whether to engage in costly carbon reduction programmes. If firms were able to display the value of their efforts to cut carbon dioxide emissions, more business would invest in environmental strategies, pumping more money into the cleantech sector.
