The document examines the relationship between corporate social responsibility performance and reputational risk exposure using data from over 4,000 global companies. It finds:
1) For companies that disclose more sustainability data, stronger performance in human rights, ethics and environmental areas correlates with lower reputational risk, while community and benefits efforts correlate with higher risk.
2) Companies that report CSR through major frameworks tend to have higher average reputational risk exposure over time.
3) Corporate risk managers should consider involvement in CSR programs to potentially "immunize" companies against reputation-damaging events.
Healthcare data. What is it? Who has access to it? Who can manipulate the data? This infographic walks you through the top data security issues facing healthcare providers and payers.
https://www.shi.com/hc-exchange
Administering Physician Compensation in 2016 and Beyond: What You Need to Con...Isaac Ullatil
There is a compelling need among physician enterprises to more efficiently track and measure the success of their physician compensation plans against organizational goals and objectives. We emphatically believe that physician leaders need to focus more on leading their organizations and less on the administrative components of their position. To that end, new generation applications should alleviate the challenges healthcare leaders face in the administration and management of physician compensation.
Presentation Makes the Case for Enterprise Risk ManagementPYA, P.C.
PYA Principal David McMillan recently co-presented “Enterprise Risk Management” at the Massachusetts Continuing Legal Education 15th Annual Hospital & Health Law Conference.
Risck intelligence in the energy and resources industry Franco Ferrario
DELOITTE TECHNOLOGIES
Risk Intelligence in the Energy & Resources Industry
Enterprise Risk Management Benchmark Survey Report
Upload by Franco Ferrario CIO Temporary Manager
The United Nations World Water Development Report 2015 Sustainable Brands
The World Water Development Report 2015, coordinated by UNESCO’s World Water Assessment Programme, brings together 31 UN-Water Members and 37 Partners, and offers data and information aimed at policy- and decision-makers, inside and outside the water sector.
Healthcare data. What is it? Who has access to it? Who can manipulate the data? This infographic walks you through the top data security issues facing healthcare providers and payers.
https://www.shi.com/hc-exchange
Administering Physician Compensation in 2016 and Beyond: What You Need to Con...Isaac Ullatil
There is a compelling need among physician enterprises to more efficiently track and measure the success of their physician compensation plans against organizational goals and objectives. We emphatically believe that physician leaders need to focus more on leading their organizations and less on the administrative components of their position. To that end, new generation applications should alleviate the challenges healthcare leaders face in the administration and management of physician compensation.
Presentation Makes the Case for Enterprise Risk ManagementPYA, P.C.
PYA Principal David McMillan recently co-presented “Enterprise Risk Management” at the Massachusetts Continuing Legal Education 15th Annual Hospital & Health Law Conference.
Risck intelligence in the energy and resources industry Franco Ferrario
DELOITTE TECHNOLOGIES
Risk Intelligence in the Energy & Resources Industry
Enterprise Risk Management Benchmark Survey Report
Upload by Franco Ferrario CIO Temporary Manager
The United Nations World Water Development Report 2015 Sustainable Brands
The World Water Development Report 2015, coordinated by UNESCO’s World Water Assessment Programme, brings together 31 UN-Water Members and 37 Partners, and offers data and information aimed at policy- and decision-makers, inside and outside the water sector.
Enlightened businesses are seeking to future-proof themselves over the long term by aiming to decouple business growth from increasing environmental and social damage, eliminate negative impacts, or even generate restorative/net-positive impacts. Others are going even further, innovating entirely new resilient ways of working, and exploiting the opportunities in global trade around solutions that tackle pollution, congestion, resource scarcity and other international challenges.
This review follows on from 2012’s Green game-changers report, which looked at the adoption of innovative sustainable business models by large companies. The purpose of this report is to highlight green game-changing innovations that are flowing to and from Asia, to inspire and trigger action by firms in the west.
New research into the views of Generation Z on business and sustainability shows this first post-Millennium generation want businesses to get involved in making the world a better place, and will reward them for doing so. Nearly three quarters of those surveyed (74%) agreed that businesses have a responsibility to create a better world.
Adapting to the impacts of climate change is critical to the success of cities, businesses and local economies. The impacts cities and businesses face as a result of climate change have far reaching implications, and neither sector can afford to be reactive. The attached study shows that cities are delivering climate adaptation actions that not only help reduce risk in their communities, but also provide the co-benefit of helping businesses thrive.
Six growing trends in corporate sustainability 2013Jaime Sakakibara
Earlier this month Ernst & Young and GreenBiz Group released a new study, entitled ‘2013 Six Growing Trends in Corporate Sustainability.’ Based primarily on a survey of the GreenBiz Intelligence Panel of executives and thought leaders engaged in sustainability, this study reveals that “companies are increasingly connecting the dots between risk management and sustainability by making sustainability issues more prominent on corporate agendas.”
Disclosing the Facts 2014: Transparency and Risk in Hydraulic Fracturing Oper...As You Sow
Disclosing the Facts 2014: Transparency and Risk in Hydraulic Fracturing Operations is a report from As You Sow, Boston Common Asset Management, Green Century Capital Management, and the Investor Environmental Health Network --- a coalition of investment advisory firms and advocacy organizations. The second annual investor scorecard is available online at www.disclosingthefacts.org.
A value added approach by triple bottom line for Sustainable DevelopmentTapasya123
In the era of 21st century, a Triple Bottom Line not only measure profits as earlier,
but also measures the social, environmental and economic dimensions of an entity
through its activities and processes. It is a new way of evaluating a company’s impact
of their actions on both local as well as global scale for the survival and longevity
of an organisation. Due to uncertainty and unpredictability, corporate values are in
move from traditional to human and societal values. It is the first and foremost
responsibility of profit, non-profit or government sector to fulfill the various obligations
of their stakeholders as well as the planet we are living on. Traditional Accounting
methods do not take in consideration the intangible assets (human capital and intellectual
capital) and risks. Though, these factors are also the main attributes that affect
organisations accountability. Thus, there is a need of the hour to develop a system
of accounting that may include intangible assets and risks. There lies a major reason
for emergence of triple bottom line. Triple bottom line is thinking holistically, exploring
the inter-related relationships between the economic, social and environment that is
People + Planet + Profit (3 P’s). The companies aiming for sustainability need to
perform not against a traditional single, financial bottom line but against the triple
bottom line. This paper focuse on how triple bottom line approach change the way
of evaluating and reporting the performance of corporations. This paper emphasis
on how a value addition in financial bottom line changed into triple bottom line.
A Value Added approach by Triple Bottom line for Sustainable Developmentprofessionalpanorama
In the era of 21st century, a Triple Bottom Line not only measure profits as earlier,
but also measures the social, environmental and economic dimensions of an entity
through its activities and processes. It is a new way of evaluating a company’s impact
of their actions on both local as well as global scale for the survival and longevity
of an organisation. Due to uncertainty and unpredictability, corporate values are in
move from traditional to human and societal values. It is the first and foremost
responsibility of profit, non-profit or government sector to fulfill the various obligations
of their stakeholders as well as the planet we are living on. Traditional Accounting
methods do not take in consideration the intangible assets (human capital and intellectual
capital) and risks. Though, these factors are also the main attributes that affect
organisations accountability. Thus, there is a need of the hour to develop a system
of accounting that may include intangible assets and risks. There lies a major reason
for emergence of triple bottom line. Triple bottom line is thinking holistically, exploring
the inter-related relationships between the economic, social and environment that is
People + Planet + Profit (3 P’s). The companies aiming for sustainability need to
perform not against a traditional single, financial bottom line but against the triple
bottom line. This paper focuse on how triple bottom line approach change the way
of evaluating and reporting the performance of corporations. This paper emphasis
on how a value addition in financial bottom line changed into triple bottom line.
The State of Enterprise Resilience - Resilience Survey 2015Julian R
A survey of how companies monitor and analyse the risk landscape, organisational risk governance, and the gap between theoretical understanding and practical application.
Enlightened businesses are seeking to future-proof themselves over the long term by aiming to decouple business growth from increasing environmental and social damage, eliminate negative impacts, or even generate restorative/net-positive impacts. Others are going even further, innovating entirely new resilient ways of working, and exploiting the opportunities in global trade around solutions that tackle pollution, congestion, resource scarcity and other international challenges.
This review follows on from 2012’s Green game-changers report, which looked at the adoption of innovative sustainable business models by large companies. The purpose of this report is to highlight green game-changing innovations that are flowing to and from Asia, to inspire and trigger action by firms in the west.
New research into the views of Generation Z on business and sustainability shows this first post-Millennium generation want businesses to get involved in making the world a better place, and will reward them for doing so. Nearly three quarters of those surveyed (74%) agreed that businesses have a responsibility to create a better world.
Adapting to the impacts of climate change is critical to the success of cities, businesses and local economies. The impacts cities and businesses face as a result of climate change have far reaching implications, and neither sector can afford to be reactive. The attached study shows that cities are delivering climate adaptation actions that not only help reduce risk in their communities, but also provide the co-benefit of helping businesses thrive.
Six growing trends in corporate sustainability 2013Jaime Sakakibara
Earlier this month Ernst & Young and GreenBiz Group released a new study, entitled ‘2013 Six Growing Trends in Corporate Sustainability.’ Based primarily on a survey of the GreenBiz Intelligence Panel of executives and thought leaders engaged in sustainability, this study reveals that “companies are increasingly connecting the dots between risk management and sustainability by making sustainability issues more prominent on corporate agendas.”
Disclosing the Facts 2014: Transparency and Risk in Hydraulic Fracturing Oper...As You Sow
Disclosing the Facts 2014: Transparency and Risk in Hydraulic Fracturing Operations is a report from As You Sow, Boston Common Asset Management, Green Century Capital Management, and the Investor Environmental Health Network --- a coalition of investment advisory firms and advocacy organizations. The second annual investor scorecard is available online at www.disclosingthefacts.org.
A value added approach by triple bottom line for Sustainable DevelopmentTapasya123
In the era of 21st century, a Triple Bottom Line not only measure profits as earlier,
but also measures the social, environmental and economic dimensions of an entity
through its activities and processes. It is a new way of evaluating a company’s impact
of their actions on both local as well as global scale for the survival and longevity
of an organisation. Due to uncertainty and unpredictability, corporate values are in
move from traditional to human and societal values. It is the first and foremost
responsibility of profit, non-profit or government sector to fulfill the various obligations
of their stakeholders as well as the planet we are living on. Traditional Accounting
methods do not take in consideration the intangible assets (human capital and intellectual
capital) and risks. Though, these factors are also the main attributes that affect
organisations accountability. Thus, there is a need of the hour to develop a system
of accounting that may include intangible assets and risks. There lies a major reason
for emergence of triple bottom line. Triple bottom line is thinking holistically, exploring
the inter-related relationships between the economic, social and environment that is
People + Planet + Profit (3 P’s). The companies aiming for sustainability need to
perform not against a traditional single, financial bottom line but against the triple
bottom line. This paper focuse on how triple bottom line approach change the way
of evaluating and reporting the performance of corporations. This paper emphasis
on how a value addition in financial bottom line changed into triple bottom line.
A Value Added approach by Triple Bottom line for Sustainable Developmentprofessionalpanorama
In the era of 21st century, a Triple Bottom Line not only measure profits as earlier,
but also measures the social, environmental and economic dimensions of an entity
through its activities and processes. It is a new way of evaluating a company’s impact
of their actions on both local as well as global scale for the survival and longevity
of an organisation. Due to uncertainty and unpredictability, corporate values are in
move from traditional to human and societal values. It is the first and foremost
responsibility of profit, non-profit or government sector to fulfill the various obligations
of their stakeholders as well as the planet we are living on. Traditional Accounting
methods do not take in consideration the intangible assets (human capital and intellectual
capital) and risks. Though, these factors are also the main attributes that affect
organisations accountability. Thus, there is a need of the hour to develop a system
of accounting that may include intangible assets and risks. There lies a major reason
for emergence of triple bottom line. Triple bottom line is thinking holistically, exploring
the inter-related relationships between the economic, social and environment that is
People + Planet + Profit (3 P’s). The companies aiming for sustainability need to
perform not against a traditional single, financial bottom line but against the triple
bottom line. This paper focuse on how triple bottom line approach change the way
of evaluating and reporting the performance of corporations. This paper emphasis
on how a value addition in financial bottom line changed into triple bottom line.
The State of Enterprise Resilience - Resilience Survey 2015Julian R
A survey of how companies monitor and analyse the risk landscape, organisational risk governance, and the gap between theoretical understanding and practical application.
Triggers and considerations for refreshing CSR marketing servicesTilly Pick
A major trend that I consider in my work and that is influencing tomorrow’s winners is the rise in environmental, social and governance principles (ESG). That’s code for “we need to all be considerate global citizens.” (CSR, or Corporate Social Responsibility, is how ESG relates to brand marketing.) People are taking notice, at all levels and everywhere. From stock exchanges to massive pension funds, the UN to Millennials, and big non-profits to those on shoe-string budgets, the discussions and work that are happening will lead to good things. For customers. Investors. Employees. Suppliers. Our communities, too. Nirvana for marketers wired to create value that makes a difference. Follow me here, on Twitter and LinkedIn if you feel the same way.
Executive Perspectives on Top Risks for 2017Key Issues B.docxSANSKAR20
Executive Perspectives
on Top Risks for 2017
Key Issues Being Discussed in the
Boardroom and C-Suite
Research Conducted by North Carolina State University’s
ERM Initiative and Protiviti
Executive Summary
i · Protiviti · North Carolina State University ERM Initiative
Introduction
The impact of the Brexit vote in the U.K., increased volatility in commodity markets, polarization
surrounding the 2016 presidential election in the United States, terrorist events, asset bubbles in
China, continued discussion about fair wages and income equality that includes calls for raising
the minimum wage, and ongoing instability in the Middle East and the unprecedented Syrian
immigration in Europe are only some of the drivers of uncertainty affecting the global business
outlook for 2017. Entities in virtually every industry and country are reminded all too frequently
that they operate in what appears to many to be an increasingly risky global landscape. Rapidly
escalating concerns about political and economic stability, data breaches and related cyberattacks,
and continued incidents of terrorism vividly illustrate the reality that organizations of all types face
risks that can suddenly propel them into global headlines, creating complex enterprisewide risk
events that threaten brand, reputation, and, for some, their very survival. Boards of directors and
executive management teams cannot afford to manage risks casually on a reactive basis, especially
in light of the rapid pace of disruptive innovation and technological developments in a digital world.
Protiviti and North Carolina State University’s ERM
Initiative are pleased to provide this executive summary
that highlights key findings in our full report focusing
on the top risks currently on the minds of global boards
of directors and executives. This executive summary
highlights results from our fifth annual risk survey of
directors and executives to obtain their views on the
extent to which a broad collection of risks are likely to
affect their organizations over the next year.
Our respondent group, comprised primarily of board
members and C-suite executives, provided their
perspectives about the potential impact in 2017 of 30
specific risks across these three dimensions:1
• Macroeconomic risks likely to affect their organi-
zation’s growth opportunities
• Strategic risks the organization faces that may
affect the validity of its strategy for pursuing
growth opportunities
• Operational risks that might affect key operations
of the organization in executing its strategy
This executive summary provides a brief description
of our methodology and an overview of the overall
risk concerns for 2017, followed by a review of the
results by type of executive position. It concludes
with a discussion of questions executives may want
to consider as they look to strengthen their overall
risk management processes.
Our full report (av ...
PECB Webinar: Aligning ISO 31000 and Management of Risk MethodologyPECB
The webinar covers:
• ISO 31000 as the adopted standard, for ISO standards that have risk components, such as ISO 27005 and OHSAS 18001
• Description of Management of Risk (MoR) – how organizations can benefit
• Complementary values that ISO 31000 and MoR bring to each other
• How Risk Managers can evolve a practical approach to carrying out Risk Processes
Presenter:
This webinar was presented by PECB Trainer Orlando Olumide Odejide, an experienced Enterprise Architect and Chief Trainer for Training Heights Limited.
Risk Monitoring and Management Trends In CommoditiesCTRM Center
Commodity producers, traders, and industrial consumers are all facing a barrage of risks such as price exposure and cyber vulnerability, as well as legal, credit, operational and market risks. The risks associated with buying, selling, and moving commodities only seem to be increasing exponentially with greater regulatory oversight and a broadening of supply chain operational issues like traceability. Many of these risks can be business killers – the actions of rogue traders or the impact of counterparty business failures, for example – and lead to fatal damage such as an inability to access capital or damage to brands (via issues around sourcing commodities or producing substandard end-products). Other risks, such as ineffective price risk management, inefficient scheduling of transportation, or regulatory non-compliance can erode profitability and damage the company’s ability to execute on strategic plans and growth initiatives.
Of course, often where there is risk, there is also an opportunity to profit - but only when those risks are recognized, effectively managed, and properly mitigated. The rise in stakeholder scrutiny and regulatory oversight also means that being able to demonstrate effective risk management across the organization is certainly more important today than ever before.
How Can You Drive Opportunity If You Cannot Manage Risk?Lora Cecere
Report Details: The research for this report was conducted via an online survey from March 12 - May 11, 2018. Surveys were conducted among 93 respondents -- a mix of business users (manufacturers, wholesalers/distributors/co-operatives, and third-party logistics providers, n=34), vendors (software providers and consultants, n=39), and others (academics, analysts, unemployed, and others, n=20).
Objective: To understand the current and expected future state of supply chain risk management, the biggest drivers of risk, and the impact on supply chain disruptions. NOTE: supply chain risk management is defined as the proactive identification and assessment of potential risks to the supply chain, as well as the development of strategies to avoid these risks.
Highlight: Nearly two-thirds of respondents believe that their company performs better today on risk management practices than five years ago yet they had 3.5 disruptions last year on average. Managing risk requires a network approach. Today’s investments in end-to-end supply chain are by and large not effective in risk mitigation. Only 37% have visibility of extended-tier suppliers and most lack the solutions to manage global complexity.
Similar to Does Corporate Social Responsibility Performance Affect Reputational Risk (20)
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
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Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
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The key differences between the MDR and IVDR in the EUAllensmith572606
In the European Union (EU), two significant regulations have been introduced to enhance the safety and effectiveness of medical devices – the In Vitro Diagnostic Regulation (IVDR) and the Medical Device Regulation (MDR).
https://mavenprofserv.com/comparison-and-highlighting-of-the-key-differences-between-the-mdr-and-ivdr-in-the-eu/
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
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At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
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[Note: This is a partial preview. To download this presentation, visit:
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
What is the TDS Return Filing Due Date for FY 2024-25.pdf
Does Corporate Social Responsibility Performance Affect Reputational Risk
1. Social Responsibility—Reputational Risk April 24, 2015 Page 1
Does Corporate Social Responsibility
Performance Affect Reputational Risk?
One company takes care of its employees, buys only from responsible suppliers, and encourages its
managers to behave ethically. Another company has a history of releasing toxic pollutants, periodically
closes facilities and irresponsibly lay off employees, and has been linked to various instances of fraud
and price-fixing. Shouldn’t the second company be more exposed to reputational risks than the first?
We combined CSRHub data on perceived CSR performance and RepRisk data on the level of ESG-related
reputational risk exposure for more than 4,000 companies from around the world. We were able to
explain 23% of the variation in risk exposure for the 2,000 companies who have revealed the most
sustainability data about themselves. We found almost no correlation between risk exposure and
sustainability disclosure for the remaining companies, who have revealed little about themselves.
For the well-studied companies, it appears that those with the most sources of sustainability ratings
(i.e., receive the most attention from social responsible investor (SRI) analysts, participate in the most
rating programs, are tracked by the most NGOs or news outlets, or who are studied by multiple
certification or crowd opinion sites) have the most risk exposure. This relationship does not appear to
relate to company revenue or market capitalization. Instead, data indicates that sustainability rating
sources play a role in discovering and communicating corporate risk events. In addition, companies that
have strong records (as measured by CSRHub) in the Human Rights and Supply Chain, Leadership Ethics,
and Resource Management areas seem to have systematically lower risk exposure. Those who have
extensive Community Development and Philanthropy, Environment Policy and Reporting efforts or
extensive Compensation and Benefits programs seem to have more risk exposure.
Companies who report corporate social responsibility (CSR) through one of three major reporting
systems seem to have systematically higher average reputational risk exposure than those who don’t.
The relationship between CSR reporting and reputational risk seems to be growing over time. Taken
together, our finds suggest that corporate risk managers should seek to become involved in their
companies corporate responsibility and sustainability programs.
2. Social Responsibility—Reputational Risk April 24, 2015 Page 2
Table of Contents
Does Corporate Social Responsibility Performance Affect Reputational Risk?............................................1
A Broad Study across Many Industries and Regions.................................................................................3
Table A: The Study Covered 19 Industry Groups..................................................................................4
Table B: Good Balance Between Europe, North America, and Asia-Pacific..........................................4
Chart 1: Market Capitalization Distribution of the Companies Studied ...............................................4
A Relatively Low Correlation at the Highest Level....................................................................................5
Chart 2: No Correlation at the Highest Level........................................................................................5
Chart 3: Distribution of RRI Scores........................................................................................................6
Chart 4: Distribution of CSRHub Ratings...............................................................................................6
Charts 5a and 5b: Correlations With Market Capitalization.................................................................7
Chart 6: RRI and Number of Sources Correlation .................................................................................7
Table C: High and Low Number of Source Comparison........................................................................8
Chart 7: CSRHub Correlation with Number of Sources.........................................................................8
Focusing On Specific CSR Factors Uncovered a Strong Correlation..........................................................9
Table D: Regression of RRI Against 12 CSRHub Subcategories...........................................................10
Chart 8: Correlation Between RRI and 12 CSRHub Subcategories......................................................11
Is There a Causal Relationship between CSRHub’s Ratings and Data Source Count and Risk Exposure?
................................................................................................................................................................12
Participation in Major Reporting Systems Appears to Increase Risk Exposure......................................13
Table E: Effect on RRI from Participation In Three Ratings Program..................................................13
The Historical Relationship Between CSR and Reputational Risk Contributes Support .........................13
Chart 9: Correlation Over Time Between RRI and 12 CSRHub Subcategories....................................14
Chart 10: Correlation Between Past Values for 12 CSRHub Subcategories and Current RRI .............15
Conclusion and Next Steps......................................................................................................................15
3. Social Responsibility—Reputational Risk April 24, 2015 Page 3
A Broad Study across Many Industries and Regions
Reputational risk is important to many corporate stakeholders. In fact a 2013 study by Deloitte on behalf
of Forbes Insight of 300 corporate executives identified reputation as the highest impact risk area for
business strategy. A factory fire, explosion, toxic spill, strike or other negative event can hurt more than
a company’s profits. Negative events can discredit a company’s brand, reduce employee morale,
encourage community opposition to a new facility, and distract management’s attention. If good CSR
performance can “immunize” a company against reputation damaging events, CSR programs can
become a type of “reputation insurance” for corporate risk managers. (Interestingly, Allianz now offers
an insurance product called Reputation Protect that specifically covers mitigating the effects of a
reputational risk crisis.
Our study combined data drawn from the RepRisk and CSRHub databases. RepRisk is a business
intelligence provider that specializes in environmental, social and governance (ESG) risk analytics and
metrics. It uses a unique methodology that screens tens of thousands of public and third-party sources
in 14 languages in order to identify, filter, analyze and quantify environmental, social and governance
(ESG) risks for both listed and unlisted companies from all sectors and countries in the world. This
process takes place daily, to ensure dynamic and timely information. The data is captured in the RepRisk
database that includes data on over 50,000 companies, and serves as a risk screening, monitoring,
research and due diligence tool. The RepRisk Index (RRI) is a proprietary quantitative risk metric that
measures a company’s exposure to ESG risks (but is not a measure of a company’s overall reputation).
RepRisk’s research process is based on 27 ESG issues that roll up to four “footprints”—community,
employees, environment and corporate governance. RepRisk has data back to January of 2007. There is
more on both CSRHub’s schema and ratings process and on RepRisk’s methodology and schema on each
company’s web site.
CSRHub rates the currently perceived corporate social responsibility and sustainability performance of
13,736 companies in more than 100 countries. It uses data from more than 370 sources to track 12
different measures of corporate social responsibility (CSR) and a number of special sustainability issues.
CSRHub’s 12 subcategory measures roll up to the same four categories that RepRisk uses—community,
employees, environment, and corporate governance. CSRHub updates its data sets regularly and has
data back to December of 2008.
7,820 of the over 50,000 companies tracked by RepRisk are included in the 13,700 companies tracked by
CSRHub. RepRisk has an RRI (its risk metric) for all of the companies linked to the risks it captures in its
database. Those companies which have not yet been exposed to ESG risks would have an RRI of zero.
CSRHub has ratings on 4,503 of the 7,820 overlapping companies. About 4% of CSRHub’s data set are
private companies or government entities. The rest are publicly-traded.
The overlapping companies covered 114 industries in 18 industry groups (see Table A) and 58 countries.
There is a good balance between European, North American, and Asian-Pacific companies, with another
5% from other regions (see Table B). While the study has a bias towards larger companies and those
that are publicly-traded, about 7% of the sample (see Chart 1) a relatively smaller companies.
4. Social Responsibility—Reputational Risk April 24, 2015 Page 4
Table A: The Study Covered 19 Industry Groups
Table B: Good Balance Between Europe, North America, and Asia-Pacific
Chart 1: Market Capitalization Distribution of the Companies Studied
Industry Group Percent of Total Industry Group Percent of Total
Agriculture & Mining 12.3% Media 2.7%
Construction & Engineering 2.8% Multi-Industry 1.6%
Consumer Goods 11.5% Retail 4.8%
Distribution 1.8% Services 4.3%
Durable Goods 10.9% Sports & Leisure 0.3%
Education & Government 0.3% Technology 7.7%
Finance & Real Estate 18.3% Transportation 4.5%
Food, Beverages, & Tobacco 4.6% Travel 1.9%
Healthcare 2.0% Utilities & Refining 7.6%
Region Percent of Total
Africa & Rest of World 7.9%
Asia-Pacific 24.5%
Europe 23.8%
North America 40.5%
South America 3.4%
5. Social Responsibility—Reputational Risk April 24, 2015 Page 5
CSRHub maps data into its 12-subcategory schema. It then builds up ratings from the subcategory level,
to the category level. It then generates an overall rating by combing each company’s category scores
using weights that reflect the needs and biases of each CSRHub user. For the purposes of this study, we
used the average weights of all 14,000 CSRHub users. This should reflect an aggregate view of those
interested in corporate sustainability. CSRHub did not have all 12 subcategory scores for 437 of the
4503 companies for which there were RRI scores. These companies (under 10% of the sample) were
excluded from the analysis.
A Relatively Low Correlation at the Highest Level
A simple high-level correlation between the RepRisk Index (RRI) and CSRHub’s Overall Rating gave a
weak result. CSRHub’s measure of perceived corporate social performance appeared to explain very
little of the variation in corporate reputational risk.
Chart 2: No Correlation at the Highest Level
This lack of correlation makes sense for many reasons. In particular, the two measures we are using
have different structures. RepRisk seeks to measure risk exposure related to ESG issues. Some
companies have a score of zero or close to zero —indicating they have little or no exposure. A second
group have moderate risk exposure—up to a score of about 30. The remaining companies have a long
“tail” of higher scores.
6. Social Responsibility—Reputational Risk April 24, 2015 Page 6
Chart 3: Distribution of RRI Scores
In contrast, CSRHub’s ratings have a strong central tendency.
Chart 4: Distribution of CSRHub Ratings
Note that RepRisk’s scores have only a small correlation with company size. CSRHub’s ratings have
almost no correlation with size. (Charts 5a and 5b below use market capitalization as a proxy for
company size. We observed similar results using company revenue.)
7. Social Responsibility—Reputational Risk April 24, 2015 Page 7
Charts 5a and 5b: Correlations with Market Capitalization
Strong Correlation with the Number of CSR Data
Sources
We next compared each company’s risk exposure (as measured by the RRI) against the number of
corporate social responsibility data sources that had reported information about that company. We
found a strong 22% correlation here.
Chart 6: RRI and Number of Sources Correlation
Almost all of this correlation seems to come from those companies that have 10 or more sources. Table
C shows that the under-10 source companies showed only a 1% correlation between the number of
sources and the RRI risk exposure measure, while those with 10 or more sources had a 21% correlation.
8. Social Responsibility—Reputational Risk April 24, 2015 Page 8
Table C: High and Low Number of Source Comparison
Company Group
# of
Companies
Correlation
Between
RRI and #
of Sources
Avg
RRI
Std Dev
in Avg
RRI
Avg No of
Sources
Average
CSRHub
Rating
Std Dev
in
CSRHub
Rating
<10 Sources 1,652 1% 8.7 9.8 6.5 5.9 6.5
>=10 Sources 2,018 21% 15.9 12.4 18.4 6.5 5.9
Although the companies with more sources have a higher average RRI score than those with fewer
sources, because there is a great deal of variation in the RRI, one cannot conclude that this difference is
significant. The companies with more sources have a slightly higher overall CSRHub rating. As we’ve
shown in the past, there may be some correlation between the number of sources and perceived
sustainability performance, with companies that have more sources getting generally higher CSRHub
ratings.
Chart 7: CSRHub Correlation with Number of Sources
9. Social Responsibility—Reputational Risk April 24, 2015 Page 9
Focusing On Specific CSR Factors Uncovered a Strong
Correlation
It seems that the information generated by sustainability data sources is affecting corporate risk
exposure. This information is the base for CSRHub’s sustainability ratings. Why weren’t overall CSRHub
ratings correlating with the RRI?
We believe this can be explained by digging down into the details behind CSRHub’s overall rating.
CSRHub flows the data from its 370 sustainability data sources into 12 ratings subcategories. When we
looked at companies that had 10 or more sources we found a 9% correlation between CSRHub’s
subcategories and RRI’s risk exposure measure. Six of CSRHub’s 12 subcategories had no statistically
significant relationship with risk exposure. Three had a positive coefficient that suggests activity in the
area could increase risk exposure and three had a negative coefficient that suggested they could reduce
risk exposure.
10. Social Responsibility—Reputational Risk April 24, 2015 Page 10
Table D: Regression of RRI Against 12 CSRHub Subcategories
Regression Statistics
Multiple R 0.314
R Square 0.098
Adjusted R Square 0.093
Standard Error 11.8
Observations 2,018
ANOVA
df SS MS F
Significance
F
Regression 12 30,517 2,543 18.2 7.0372E-38
Residual 2,005 279,806 140
Total 2,017 310,322
Coefficients
Standard
Error t Stat
P-
value Lower 95%
Upper
95%
Intercept 9.1 2.7 3.3 0.0 3.7 14.5
Board 0.0 0.0 0.2 0.8 -0.1 0.1
Community Dev & Philanthropy 0.2 0.0 3.6 0.0 0.1 0.3
Compensation & Benefits 0.2 0.0 5.2 0.0 0.1 0.3
Diversity & Labor Rights 0.0 0.1 -0.6 0.6 -0.1 0.1
Energy & Climate Change 0.1 0.1 0.9 0.4 -0.1 0.2
Environment Policy & Reporting 0.5 0.1 6.9 0.0 0.3 0.6
Human Rights & Supply Chain -0.2 0.1 -4.0 0.0 -0.3 -0.1
Leadership Ethics -0.5 0.1 -8.4 0.0 -0.7 -0.4
Product 0.0 0.0 0.1 0.9 -0.1 0.1
Resource Management -0.1 0.1 -2.0 0.0 -0.2 0.0
Training, Health & Safety 0.0 0.0 -0.4 0.7 -0.1 0.1
Transparency & Reporting 0.1 0.1 1.5 0.1 0.0 0.2
Related to decreased risk exposure
Related to increased risk exposure
When we added the number of data sources as a thirteenth variable, and used only companies that had
at least ten sources of sustainability information, the correlation with RRI jumped to 24%.
11. Social Responsibility—Reputational Risk April 24, 2015 Page 11
Chart 8: Correlation Between RRI and 12 CSRHub Subcategories
The seven sustainability elements we identified as related to risk exposure each make sense. We also
understand why some elements may not relate to risk:
Risk-reducing factors. Good Human Rights & Supply Chain programs should help a company
identify supply chain hot spots and either replace a poor performing supplier or help it improve
its internal processes. A tradition that values Leadership Ethics should keep a company from
engaging in risk-creating practices. And Resource Management programs that recycle and
reuse resources will tend to minimize a company’s ecological footprint and reduce opportunities
for environmental problems.
Risk-increasing factors. Strong Community Development and Philanthropy programs may be
connected with increased risk, because companies that have them may be trying to avoid or
offset risky activities. Some giving programs may also fail to integrate with a company’s overall
CSR strategy or the needs of key stakeholders. Both giving programs and extensive
Environment Policy and Reporting programs may be seen as “greenwashing”–only needed
when a company has community- or environment-related risk. The positive correlation with
Compensation and Benefits may support the theory that higher risk companies may need more
aggressive employee incentive programs. These programs may lead to employees pushing to
meet unrealistic financial or operating objectives.
Un-related factors. Six factors did not seem correlated with risk. It seems that company Boards
are too removed from operating decisions to have much connection with risk exposure.
Diversity and Labor Rights and Energy and Climate Change issues should introduce risk, but
perhaps in too abstract a manner to show up in our study. The CSRHub Product category
12. Social Responsibility—Reputational Risk April 24, 2015 Page 12
measures whether or not a company’s products have impact on society—a different issue
perhaps from whether they generate corporate risk. We expected Training, Health, and Safety
issues to be important for risk. However, many companies may have shifted their risk focus in
this area into their supply chain. Finally, the lack of connection with Transparency and
Reporting may be due to the timing lag between corporate sustainability reporting and risk-
related events.
Is There a Causal Relationship between CSRHub’s
Ratings and Data Source Count and Risk Exposure?
A 24% correlation between a set of sustainability factors and an estimate if risk exposure seems high
and strongly suggests there is a connection between these factors. However, as Edward Tufte has put it,
"Correlation is not causation but it sure is a hint." We do not know which of the following is true:
Perceived CSR performance could be unrelated to reputational risk. Despite the statistics cited
above, it is possible that our result is due to random variation and there is no tie between CSR
performance and reputational risk. We hope others will test our conclusions using these data
sets or ideally, using other similar measures of social performance and corporate risk exposure.
Reputational risk and CSR performance could both be correlated with some other factor. For
instance, although we accounted for market capitalization, we did not adjust for revenue,
number of employees, industry group, or geographic region. As a result, our data sets could
appear to be correlated with each other, when they in fact just share a common driver. We
have tested our results across industry groups and geography, and have not found any major
difference in our result. (This is why we have not included these factors in our analysis.) Market
capitalization tends to be closely correlated with revenue and number of employees—and we
have already shown there is no correlation between market capitalization and either of our two
data sets.
Reputational risk and sustainability are related. One easy additional test is to estimate the
probability that an observed correlation is actually zero (no correlation). This probability is
expressed via an “F value.” An F value equal to one would indicate that the chance that the
observed correlation is zero is the same as the chance that it is non-zero. With 2,000 data
points, an F value above 4 would indicate less than a 5% chance that the observed correlation is
zero. The F value for our correlation of all CSR factors and the number of data sources against
reputational risk is 18. This suggests there is a vanishingly small chance that there is no
correlation between these data sets.
We will present two more arguments to support the contention that the third option is the best
explanation for our results.
13. Social Responsibility—Reputational Risk April 24, 2015 Page 13
Participation in Major Reporting Systems Appears to
Increase Risk Exposure
About two thirds of the approximately 4,500 companies we examined in this study report their behavior
to CDP (the Carbon Disclosure Project), make a declaration to the United Nations Global Compact, or
disclose their sustainability performance using the Global Reporting Initiative framework. A simple
further test of the relationship between disclosure and risk exposure is to see if there is a correlation
between participation (at any time over the past five years) in these programs and an increased RRI
score. The results of this analysis show a correlation of 9% and strong positive coefficients between
these reporting systems and the RRI risk exposure score.
Table E: Effect on RRI from Participation In Three Ratings Program
The Historical Relationship Between CSR and
Reputational Risk Contributes Support
A second test of the connection between sustainability metrics and risk exposure is to look at their
relationship over time. The quality and depth of sustainability reporting has improved dramatically since
Regression Statistics
Multiple R 0.30
R Square 0.09
Adjusted R Square 0.09
Standard Error 11.13
Observations 4507
ANOVA
df SS MS F
Regression 3 53402.85725 17800.95 143.667
Residual 4503 557940.8716 123.9043
Total 4506 611343.7289
Coefficients Standard Error t Stat P-value
Intercept 8.21 0.26 31.75 0.00
Global Reporting Initiative 4.37 0.39 11.19 0.00
CDP Project 3.19 0.36 8.98 0.00
UN Global Compact 1.86 0.43 4.28 0.00
Related to decreased risk exposure
Related to increased risk exposure
14. Social Responsibility—Reputational Risk April 24, 2015 Page 14
2010. As a result, we would hope that the correlation between CSRHub’s sustainability metrics and risk
exposure has increased over this time period.
Both RepRisk and CSRHub have used consistent methods to evaluate companies over time. We
compared results using our 2014 approach with data from 2010 and 2012 to see how the
sustainability—reputational risk relationship has changed over time.
In April of 2012, there were 2,228 companies with both RepRisk ratings and full CSRHub ratings. Of
these, 1,279 had both 10 or more data sources and ratings for all 12 CSRHub subcategories (the same
criteria we used to choose the sample analyzed above). For April of 2010, we had 1,363 companies with
both ratings and 590 that had more than 9 sources.
As you can see in Chart 9 below, there is evidence that the relationship between our sustainability
metrics and RepRisk’s risk measure has been growing over time. The fact that the 2010 number is
higher than that for 2012 may be due to using more than 9 data sources to split the data. The average
number of sources for our data sets grew to 13 from 9.8 between 2010 and 2014. As a result, it was
much harder to be a company with 10 different sources of sustainability data in 2010 than in 2014.
Chart 9: Correlation Over Time Between RRI and 12 CSRHub Subcategories
Interestingly, the sustainability factors that appear to drive risk exposure were somewhat different for
2010 and 2012. Human Rights and Supply Chain and Resource Management performance were
consistently tied to reduced risk, while Community Development was consistently tied to increased risk.
Other factors were more or less significant—a “rotation” of emphasis that we have also seen in our
studies on the connection between sustainability and brand value. A strong positive relationship
remained between risk and the number of data sources, for both 2010 and 2012.
15. Social Responsibility—Reputational Risk April 24, 2015 Page 15
Regardless of the relative importance of different factors, our 2012 sustainability data seemed to have
good predictive value for 2014 risk exposure. We found a 29% correlation (F factor of 39.7) between the
2012 CSRHub subcategory ratings and number of data sources and RepRisk’s 2014 RRI.
Chart 10: Correlation Between Past Values for 12 CSRHub Subcategories and
Current RRI
Conclusion and Next Steps
We believe we have shown that an increase in the number of data sources who report on a company
may be associated with higher risk exposure. We believe we have also shown that several types of
sustainability programs can help mitigate this increase. Other types of sustainability programs seem to
be unrelated to risk or may increase risk exposure.
If these connections are real, a company that seeks to lower its reputational risk could choose to take
one or more of the following actions:
If a company is not followed by multiple sustainability sources, it may not see a direct
connection between investments in sustainability programs and changes in its reputational risk.
However, as the number of sustainability sources and their coverage continues to grow, the
social performance of most companies will eventually be “noticed.” It may make sense to start
building a strong foundation of sustainability practices, early.
16. Social Responsibility—Reputational Risk April 24, 2015 Page 16
If a company is followed by multiple sustainability data sources, we believe our study shows
there will be a connection between its perceived sustainability performance and its reputational
risk. To reduce risk, companies should invest in Human Rights & Supply Chain, Leadership Ethics,
and Resource Management programs, as these areas are correlated with lower risk.
When a well-followed company has strong programs in Community Development and
Philanthropy, Environment Policy and Reporting, or Compensation and Benefits programs, our
study predicts it will also have higher reputational risk. However, we suspect that the strong
sustainability programs may be a reaction to past risk events or concern about possible future
events. If this is true, it suggests that corporate risk managers and sustainability managers need
to collaborate on these programs to ensure that they meet both a company’s sustainability and
risk-reduction goals.
Regulatory and societal pressures are likely to force companies to increase their reporting disclosures.
See our recent articles on the effect of the Sustainability Accounting Standards Board (SASB) for a
discussion of these trends. As a result, “stealth” behavior aimed at avoiding attention will become more
difficult than it has been in the past. This means companies who seek to reduce their reputational risk
will need to look for help from the two options we describe, above.
We have compared CSRHub category scores against the equivalent RepRisk lower level scores. We did
not find any new results. However, it may be possible to find specific “best practices” for the six
sustainability areas that seem to affect reputational risk by examining either the millions of data
element details that flow into CSRHub’s 12 subcategory scores or the detailed data elements that are
linked to the 27 ESG issues that RepRisk tracks. The details underlying CSRHub’s ratings and the top
level and second level RepRisk factors are available via the CSRHub web site or its Excel-based
Dashboard. We hope CSR professionals and researchers will help us continue our research and further
support the idea that sustainability programs can help cut corporate risk.
We have found evidence that the effect of different areas of CSR activity on risk exposure may change
over time. We need to investigate this further and see if we can tie these changes to previously studied
trends. We need to compare CSRHub’s ratings with other measures of corporate risk. We suspect that
other major providers in this area may have captured or focused on different aspects of corporate risk.
As mentioned above, we have shown previously that there is a connection between brand value and
perceived sustainability performance. We expect to find more connections between sustainability and
operating results and to eventually prove that corporate social responsibility and corporate long-term
financial and operation performance are inextricably linked.
17. Social Responsibility—Reputational Risk April 24, 2015 Page 17
About CSRHub and RepRisk
About the Authors
Bahar Gidwani, CEO and Co-founder of CSRHub. Bahar has built and run large technology-based
businesses for many years. Bahar holds a CFA, worked on Wall Street with Kidder, Peabody, and with
McKinsey & Co. Bahar has consulted to a number of major companies and currently serves on the board
of several software and Web companies. He has an MBA from Harvard Business School and an
undergraduate degree in physics and astronomy. Bahar is a member of the SASB Advisory Board. He
plays bridge, races sailboats, and is based in New York City.
In collaboration with:
Alexandra Mihailescu Cichon, Head of Business Development and Marketing, Member of the Executive
Committee, RepRisk AG
Viktoria Redey, Senior Project Manager, Business Development and Marketing, RepRisk AG
About CSRHub
CSRHub provides access to the world’s largest corporate social responsibility and sustainability ratings
and information, covering over 13,000 companies from 135 industries in 127 countries. By aggregating
and normalizing the information from 370 data sources, CSRHub has created a broad, consistent rating
system and a searchable database that links millions of rating elements back to their source. Managers,
researchers and activists use CSRHub to benchmark company performance, learn how stakeholders
evaluate company CSR practices, and seek ways to improve corporate sustainability performance.
About RepRisk
RepRisk is a leading business intelligence provider specializing in dynamic environmental, social and
governance (ESG) risk analytics and metrics.
On a daily basis, RepRisk systematically screens big data from a broad range of open intelligence sources
in 15 languages in order to identify, filter, analyze and quantify ESG risks (such as environmental
degradation, human rights abuses and corruption) related to companies, projects, sectors and countries.
This external perspective provides valuable insight on whether a company’s policies, processes and
commitments are consistently translating into performance.
Since 2006, RepRisk has built and continues to grow the most comprehensive ESG risk database that
serves as a due diligence and risk research and monitoring tool. The database currently includes risk
profiles for over 50,000 public and private companies and 12,000 projects as well as for every sector and
country in the world. Headquartered in Zurich, Switzerland, RepRisk serves clients worldwide including
global banks, insurance companies, investment managers, and corporates, helping them to manage and
mitigate ESG and reputational risks in day-to-day business.