Amid Recession, CSR Reporting Booms – PwC
The fourth survey of PwC analyzed 25 companies apiece from Canada, USA, Europe, Asia and Japan as a benchmarking for the best conducts in their corporate social responsibility (CSR).
The sustainability report reviews around 602 companies that have been listed in five Standard & Poor’s indexes. The PwC report highlighted that such findings have “become critical to a company’s credibility, transparency and endurance” as the number of sustainability reviews has continued to increase amidst global economic recession.
The PwC survey found out that Canadian and US companies continue to sustain a lag behind companies in other regions in terms of producing their CSR by posting it on their websites. The report notes an increase of more than 15 percent over 2009 in the efforts of European countries to produce their CSR report. The figure shows that 81 percent of European companies now post a CSR report on their website.
But the report does not show any far less increase in the number of Canadian companies that publish their CSR report. About 40 percent of Canadian companies now publish such a report, representing an increase of about 15 percent. The same figure can be observed in the number of US companies publishing their CSR report.
PwC recommended the Global Reporting Initiative as “a great place for new reporters to start” after it has observed that 83 percent of Canadian CSR and an overall figure of 67 percent of reports used its guidelines.
The UN Global Compact is also recommended by PwC for its mandatory requirement of member companies to include in their report human rights, labor, the environment, and anti-corruption. Only 24 percent of Canadian companies cite the Global Compact principles in their CSR report compared to 76 percent of non-North American companies.
PwC highlighted all throughout its report Campbell Soup, Chevron, Coca-Cola, Exxon Mobil, Ford Motor, Intel, and Nike as among the US-based companies with best practice in sustainability reporting.