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Funding a business
Consequences of Poor CSR
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[QUOTE="Yakub02, post: 306654, member: 94426"] Consequences of poor track record on CSR issues It is important to understand how a company might suffer financially from a poor track record on CSR issues: Bad publicity about social and environmental issues could damage the public image of the company and its brands (‘brand reputation risk’); and Companies may be affected by preferences of stakeholders, for companies with positive policy objectives on social and environmental issues. There are some investment organisations that focus on these issues. More significantly, perhaps, high-quality employees may prefer to work for ‘ethical’ companies. Companies also need to understand the growing significance of CSR for many institutional investors. For example, the UNEP Finance Initiative (UNEP is the United Nations Environment Programme) has over 200 members from the financial services sector, such as banks and investment institutions. The aim of this initiative is to promote a set of principles that define best practice for responsible investment by institutional investors that have the full support of the UN and also of leading institutional investors worldwide. A view underlying the initiative is that institutional investors should make sustainable development an issue when making decisions on investment in companies. The UN Global Compact, which launched the UNEP Financial Initiative, has stated: ‘Institutional investors with clear information on company behaviour can take action, via proxy voting and other means, to pressure companies not to focus on short-term gains at the expense of long-term performance particularly in developing and developed nations.’ [/QUOTE]
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