An article developed a typology for analyzing whether the provision/curtailment of public goods/bads would be best served by companies (through corporate social responsibility – CSR), by imperfect governments or by non-profit organizations. It discussed the main differences between the welfare economic approach to CSR and the general multi-disciplinary CSR literature.
Source: Atle Blomgren, 'Is the CSR craze good for society? The welfare economic approach to corporate social responsibility', Review of Social Economy, Volume 69 Issue 4
Links: Abstract
Date: 2011-Dec
A report examined the nature of top (FTSE 100) company boards over the period 1987-2011. Annual remuneration for chief executives had increased dramatically, from £150,000 to over £4 million by 2009: but the link between executive pay and performance remained 'opaque'. The number of female directors remained 'pitifully low', increasing from 5 per cent in 1999 to approximately 12.5 per cent of FTSE 100 boards in 2010, despite regulatory reviews and other efforts to increase their presence.
Source: Annie Pye, Leading FTSE Companies: An Interdisciplinary Study of Directors, Boards and Corporate Governance Process, Economic and Social Research Council
Links: Report | Exeter University press release | People Management report
Date: 2011-Dec
A new book examined whether it paid for businesses to act morally, based on empirical studies of European companies. Under certain conditions, organizations could act responsibly and profitably at the same time. It analyzed those conditions in detail, and provided evidence for the link between corporate responsibility and profitability.
Source: Tobias Gossling, Corporate Social Responsibility and Business Performance: Theories and evidence about organizational responsibility, Edward Elgar Publishing
Links: Summary
Date: 2011-Nov
A new book examined an alternative approach to corporate governance in Europe, drawing on both traditional stakeholder models of the firm and newer concerns with sustainability. There was a need for worker voice in corporate governance and for a binding legislative framework to promote sustainability.
Source: Norbert Kluge and Sigurt Vitols, The Sustainable Company: A new approach to corporate governance, European Trade Union Institute
Links: Summary
Date: 2011-Oct
The European Commission published a new strategy on corporate social responsibility, designed to create conditions favourable to sustainable growth and employment generation in the medium and long term.. The Commission put forward a new, simpler definition of corporate social responsibility as 'the responsibility of enterprises for their impacts on society'.
Source: A Renewed EU Strategy 2011-14 for Corporate Social Responsibility, European Commission
Links: Strategy
Date: 2011-Oct
The coalition government published a discussion paper on executive remuneration. It put forward proposals on how to link executive pay more closely to company performance, and to enhance the influence of shareholders and employees.
Source: Executive Remuneration: Discussion Paper, Department for Business, Innovation and Skills
Links: Discussion paper | DBIS press release | Deloitte press release | TUC press release | People Management report
Date: 2011-Sep
A report said that corporate responsibility programmes increasingly had a 'clear strategic dimension', and formed a core part of many companies business activities.
Source: More Than Just Giving: Analysis of corporate responsibility across UK firms, Deloitte & Touche LLP
Links: Report | Deloitte and Touche press release
Date: 2011-Jul
An article examined the European Commission's policy-based approach to regulating corporate social responsibility, and the role of international human rights law.
Source: Karin Buhmann, 'Integrating human rights in emerging regulation of corporate social responsibility: the EU case', International Journal of Law in Context, Volume 7 Issue 2
Links: Abstract
Date: 2011-Jun
A report summarized the outcome of a conference (organized in 2010 by the European Commission) that examined the role of business in society, including the issue of corporate social responsibility.
Source: Towards a Greater Understanding of the Changing Role of Business in Society, European Commission
Links: Report
Date: 2011-May
The European Commission published a review of how companies in the European Union reported on their social impact.
Source: Katelijne van Wensen, Wijnand Broer, Johanna Klein, and Jutta Knopf, The State of Play in Sustainability Reporting in the European Union, European Commission
Links: Report | Summary | European Commission press release
Date: 2011-Apr
An article examined corporate governance codes in the United Kingdom and Germany. In the UK, the code largely reflected the demands of institutional investors for stricter standards. In contrast, members of the traditional German 'stakeholder coalition' pushed for a code that was intended to be more of a marketing than a regulatory instrument.
Source: Susanne Lutz, Dagmar Eberle, and Dorothee Lauter, 'Varieties of private self-regulation in European capitalism: corporate governance codes in the UK and Germany', Socio-Economic Review, Volume 9 Number 2
Links: Abstract
Date: 2011-Apr
The European Commission began consultation on ways in which corporate governance of European companies could be improved. It looked at the effective functioning of boards of directors; how to enhance shareholders' involvement; and the monitoring and enforcement of existing national corporate governance codes.
Source: The EU Corporate Governance Framework, European Commission
Links: Consultation document | European Commission press release | TUC blog
Date: 2011-Apr
A report examined the policies of European Union member states in relation to corporate social responsibility.
Source: Jutta Knopf et al., Corporate Social Responsibility: National Public Policies in the European Union, European Commission
Links: Report
Date: 2011-Apr
A think-tank report developed the methodology for 'attribution' within a social return on investment (SROI) analysis – aimed at understanding the role of an individual intervention or organization in creating social change
Source: Susan Steed, Small Slices of a Bigger Pie: Attribution in SROI, New Economics Foundation
Date: 2011-Mar
A report said that only one-third of companies actually paid corporation tax, and that more than 500,000 might not do so each year even though they had a liability to do so. The resulting tax loss was estimated at £16 billion per year.
Source: Richard Murphy, 500,000 Missing People: £16 Billion of Lost Tax – How the UK mismanages its companies, Tax Research UK
Links: Report | Guardian report
Date: 2011-Mar
A report examined concerns arising from banks' direct and indirect impacts on customers, employees, and local and national communities. Issues covered included: customer service, financial exclusion, responsible credit, gender equity in employment, project financing, asset management, lobbying, money laundering, tax avoidance, developing country debt, commodity speculation, board governance, risk management, remuneration, and transparency.
Source: The Banks and Society: Rebuilding trust – Social, ethical and environmental concerns, Ecumenical Council for Corporate Responsibility
Links: Report | Summary | ECCR press release
Date: 2011-Mar
A report called for an 'enlightened fiduciary' model for institutional investors to parallel the new duties of company directors introduced in 2006. Such a provision would provide a valuable 'nudge' towards sustainable, long-term investment – and overcome narrow interpretations of fiduciary obligation that emphasized profit maximization to the exclusion of all other factors, including financial system stability.
Source: Christine Berry, Protecting Our Best Interests: Rediscovering Fiduciary Duty, FairPensions
Links: Report | Summary | FairPensions press release
Date: 2011-Mar