Intelligent CXO Issue 03 | Page 32

According to the London Stock Exchange , investors now routinely analyse information on CSR ( ESG ) performance to gain a better understanding of companies ’ future prospects . Sixty percent of assets managed for EU investors incorporate sustainable investment strategies .
It is now commonplace to be scored on your CSR performance when tendering for both public and private projects . Already one out of three local authorities insist on evidenced CSR as part of the tendering process .
CSR is about the future : discovering your sustainable and profitable potential and achieving it
Customers want to trust organisations they
engage with . Employees want to work for valuedriven employers and investors want to know that a company is addressing its ethical responsibility .
But it is also about delivering social value and investment in something much bigger than the organisation . It will help with clarity about want you want to get out of business and from your life . It becomes a road map for delivering greater purpose and value to all stakeholders .
There has also been a change in mindset – COVID-19 has been a game changer . The Coronavirus pandemic has actually reintroduced us to a more authentic normal , one in which we have a stronger sense of community and social responsibility . The world has changed dramatically and the focus on social responsibility has become far more important .
We have already witnessed some incredible acts of kindness , support for struggling businesses , charities and individuals and positive business practices . This will become normal as consumers and stakeholders expect increased social value from the businesses they are engaged with .
So , ask yourself what is the cost of not being socially responsible ?
Increased absenteeism , retraining , poor engagement , lost social capital , losing tenders , poor reputation , dropped from the supply chain , not attracting new talent and a high-risk investment . Can you afford not to be a socially responsible organisation ? x
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