CSR driving access to new markets, says ACCSR
Innovative corporate social responsibility practises are helping more companies than ever before to access new markets, according to the 2015 State of CSR in Australia and New Zealand Annual Review, released by the Australian Centre for Corporate Social Responsibility (ACCSR).
The Review, which is the largest ongoing longitudinal research into CSR in Australia and New Zealand and one of the biggest in the world, examined the stages of CSR development in organisations and the role of the chief sustainability officer (CSO). This year over 1,000 respondents participated in the research the highest number in its history.
The Review classified organisations into three stages of CSR maturity - Initiators, Integrators, and Innovators. “There are striking differences between organisations’ ability to use CSR to drive innovation, depending on their level of CSR maturity. Since 2012, there has been a significant jump in the number of organisations reporting that CSR helps them to access new markets. This is being driven primarily by the telecommunications, finance, and insurance industries,” said ACCSR’s md, Dr Leeora Black.
Most CSOs were more optimistic about their organisation’s CSR progress than those who work outside a sustainability role. CSOs classified their own organisations as “innovators” in much higher numbers than those outside a sustainability role.
The Annual Review also revealed this year’s CSR Top Ten — the organisations that scored greater than 75% across the CSR management capabilities, as ranked by their employees. They are Arup, BHP Billiton, Disney, IAG, NAB, PwC, Sydney Water, Telstra, Teachers Mutual Bank and Westpac, with half of these organisations making the list for at least the second year running.
You can download the full Review here.