FC NOW: The Fast Company Weblog
July 5, 2007
Fortune Favors the Responsible Biz
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Goldman Sachs, McKinsey and Company, and the United Nations put out reports today highlighting positive links between corporate responsibility and the bottom line. The three studies were presented in Geneva at a meeting hosted by the UN Global Compact, an association of UN agencies, companies, and other public and private groups that lobby for businesses to improve their human rights, labor, environment and anti-corruption practices.
Some of the main takeaways:
Companies that are ahead of the curve when it comes to the environment, good governance and social responsibility performed about 25 percent better than the general stock market over the last couple of years, according to Goldman.
Over 90 percent of surveyed CEOs participating in the Global Compact said they're doing more now than they did five years ago to include those EGS concerns in their overall strategy and operations, McKinsey reported.
On the other hand, the follow-through tends to fall short: While 72 percent of CEOs said corporate responsibility should be "embedded fully into strategy and operations," only half think that's actually happening at their companies. When it comes to supply chains, almost 60 percent of execs said corporate responsibility should be embedded, but less than a third said that's a reality.
The whole report should be up in the next few days at the UN Global Compact website.
Posted by Elise Waxenberg at July 5, 2007 4:05 PM | Category: conferences |
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