Environmental, Social & Governance Briefs

The charitable/social/independent sector is a formidable economic force that's reported to generate 10 percent of the country's gross national product, but the lack of any standard name for it could be diminishing its influence on public policy. Leaders will need to step up to agree on terminology that gives the sector collective clout.

Findings from a global study of corporate sustainability reporting reveals that companies in Japan have the highest overall sustainability disclosure rate. The findings raise the fundamental question of why companies report and whether reporting regulations are incentivizing compliance over substance.

Leading businesses are turning to purpose to articulate their mission, power growth, unite and motivate the organization, and become future-ready in a world of non-stop change. Companies can and should use purpose intentionally to figure out how to run their businesses.

Corporate volunteering is now a global practice that was boosted by President George H.W. Bush's founding of Points of Light and the National Council on Workplace Volunteering. As the country remembers the 41st President, reflecting on his work to encourage employees to use their expertise in service to their communities can help motivate companies and their employees to continue his legacy.

Total corporate giving has increased more than 15 percent over three years to a record $23.8 billion, as companies have become more generous. The growing economy and favorable tax cuts have left some companies with healthy cash reserves and many have promised to direct a portion to their communities.

For companies embarking on the practice of sustainability reporting it can be challenging to discern between the various reporting frameworks and guidelines. To ease this process, The Conference Board developed a table comparing some of the leading sustainability reporting frameworks.

Eighty-two percent of board members, business owners, and corporate executives say it's necessary for companies to advocate for or take a stand on environmental, social, and governance (ESG) issues, as employees and customers increasingly demand that companies become more vocal. A majority also believe that advocacy by CEOs will increase in the next 18 months, following in the footsteps of recognizable leaders whose brands have inspired blue chip companies to use their voices.

Data privacy regulations challenge the growth of virtual volunteer technologies, but companies that can navigate these challenges stand to improve employee engagement opportunities. At the World Volunteer Conference and Global Corporate Volunteer Council in Germany, companies discovered how technology can help them respond to the demands of their employees for meaningful volunteer engagements.

The majority of companies do not measure standardized outcomes related to arts, despite the fact that doing so would help them show the effect of arts support on company objectives. The Impact Genome Project®, an initiative of Mission Measurement, provides a framework for standardized outcomes in the arts sector that companies should be utilizing to understand their contributions’ effectiveness.

Companies promoting associate board experience for their young workers can cultivate leadership skills and loyalty among early and mid-career employees. Young employees want a level of social impact engagement that they find meaningful and accessible in the workplace. Providing that opportunity helps companies solve one of their biggest challenges: attracting and retaining the workforce of the future.