’Firms paid more attention to social, environmental issues'

The one measure which dropped significantly was the number of companies publishing voluntary CSR reports.

OfficeWorkers311 (photo credit: Ariel Jerozolimski)
(photo credit: Ariel Jerozolimski)
Three out of four indicators of corporate social responsibility (CSR) rose in 2010, according to BeyondBusiness, a consulting firm which assists companies with meeting requirements.
The first indicator is BeyondBusiness’s own Transparency Index, which saw a rise to 33 percent from 30% in 2010. The Transparency Index examines TA 100 companies’ websites for material relating to the company’s business, social and environmental practices and rates their accessibility to the public.
Twelve organizations or companies joined the UN’s Global Compact in 2010 – almost equal to the 13 which joined between 2002 and 2009. BeyondBusiness attributed the sharp rise in this second indicator to Maala’s decision to give awards to those who joined the compact at its annual conference.
The UN Global Compact is a set of 10 principles governing corporate, social, environmental responsibility and bribery. So far, 6,262 companies and 2,418 NGOs have joined the compact worldwide.
Regarding Maala, another 75 companies joined its rating system, an increase of 20%, the third indicator to go up. Maala rates companies in six areas: environment, business ethics, human rights and work environment, community involvement, corporate governance, and social environmental reporting.
The one measure which dropped significantly was the number of companies publishing voluntary CSR reports. After a high of 18 in 2009, just 12 companies issued reports in 2010.

The drop in voluntary reporting prompted BeyondBusiness co-CEO Liad Ortar to remark, “What jumps out is the increased commitment by companies to outside initiatives or rating systems and a drop in the voluntary reporting.
“This trend demonstrates, apparently, that voluntary adoption of CSR reporting is not the way to achieve true embedding of sustainability values in corporations and that there is room for regulations in this matter. The directive of the Israel Securities Authority requiring the reporting of environmental activities and risks is, therefore, a first and important step.”