Integrating strategies for corporate responsibility and evaluating their impact, both socially and environmentally, is becoming increasingly critical to business. This paper summarises the key discussion points from a high-level roundtable discussion organised by CIMA and Tomorrow’s Company, where senior business decision makers met with experts in sustainability.
Key findings include:
- There is little convergence between methods used by companies, even within similar sectors, in relation to sustainability and wider non-financial reporting. Benchmarking becomes more problematic and challenging.
- It is not clear how reporting on corporate social responsibility is used, how much is ‘left out’, and what information is of value to investors or the wider society. Integrated reporting would present a more complete picture of an organisation’s performance and the factors that will influence its long-term success.
- Companies may be motivated by either commitment to the agenda or compliance. Commitment may ensure the integration of CSR strategies, but compliance is needed to push integration forward.