Each week, we compile and summarize the top articles on corporate social impact, impact investing, and conscious capitalism from around the world, and deliver it to your inbox every Saturday morning for you to enjoy and digest.
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The Right Way to Support the Sustainable Development Goals
When 193 member states launched the 17 Sustainable Development Goals (SDGs) at the United Nations in 2015, it was not clear how businesses could contribute to an agenda that covered such wide-ranging topics as eliminating poverty and hunger and promoting peaceful, just, and strong institutions worldwide. Two years later, these fears have proved unfounded as business awareness of and action toward the SDGs is increasing annually.
More companies are using the global goals to help set corporate performance targets, and 75% of U.N. Global Compact business participants reported that they are taking action in support of the goals. This is good news, as the SDGs clearly invite businesses to join the global efforts to “end poverty, protect the planet, and ensure prosperity for all” alongside governments, civil society, and U.N. entities.
Facebook shares are not as 'socially responsible' as many investors thought
A company that enabled the manipulation of data from up to 87 million people couldn't possibly be considered responsible, could it? That's what many who planted their money with ethical investments holding the tech company Facebook might have thought as its CEO Mark Zuckerberg testified before Congress this week on privacy and the Cambridge Analytica scandal.
While Facebook's strength in corporate governance around data privacy has been flagged for years, the company scores highly in other areas which means its rating has remained relatively high. That's why Facebook is a key ingredient in many socially responsible funds; 80 funds that examine companies' environmental, social and governance practices count Facebook as a top 10 holding.
But that might be about to change as some of the major ratings providers serving as a filter for many ESG funds reconsider Facebook's positive rating. While painful, the Cambridge Analytica scandal holds a critical lesson for socially responsible investors—it's not always enough to look at how a company conducts its business, it's also important to consider what that business is.
Corporate Social Responsibility Can Actually Be a Competitive Advantage, So Where's Your CSR Program?
In these politically turbulent times, corporate social responsibility (CSR) is growing in importance, putting more pressure on up-and-coming entrepreneurs to adopt a social responsibility and/or sustainability strategy to boost their visibility and competitiveness. Why are CSR strategies growing in importance? Click the link below for at least three reasons.
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