The growth of Corporate Community Investment (CCI) over the past few years is significant, but a research report reveals that not all is as it seems. Corporate Citizenship’s report published today highlights a surprisingly large gap between commercial ambitions and reality in terms of CCI.
CCI has grown rapidly in recent years as more companies give philanthropic donations and run employee volunteering schemes. Many Corporate Social Responsibility (CSR) reports talk about “impact” in the community, such as “transforming communities” and “improving lives”. But the reality is that most companies are confused about key terms, fail to accurately measure them and don’t live up to the hype.
Based on the insights from more than 130 sustainability and corporate responsibility practitioners around the world, the study reveals that three quarters of companies aspire to achieve long-term impact with their corporate community investment, but less than one quarter currently feel that their organisation is delivering on the promise. This is because less than one in four are measuring their long-term impacts on the community and benefits to the business.
The report describes the ‘impact-aspiration’ gap between what business seeks on the one hand and is able to deliver on the other. The study suggests that the gap is caused by confusion over how and what to measure. A lack of clarity over what to measure, a lack of a clear approach to measurement, and a perceived lack of resources are creating barriers to effective impact measurement.
Jon Lloyd, Associate Director at Corporate Citizenship and the report’s author, said: “Companies need to invest their resources where they can genuinely make a difference in the community. But impact cannot just be a buzzword. It requires measurement of long-term change. For many companies, that means doing things differently.
“It requires asking some searching questions about how best to approach community investment and what can realistically be achieved. In a world where more and more businesses are making such assertions, having tangible and concrete data on impact has never been more important. This focus on achieving hard outcomes, not hollow promises, is all part of an exciting new area in responsible business that we call impact for change.”
Corporate Citizenship’s new report entitled Hard Outcomes or Hollow Promises: Realising the True Impact of Corporate Community Investment helps companies to close the impact-aspiration gap by overcoming challenges and barriers to measurement. The report guides practitioners through the process to effectively measure community investment impacts – creating benefits for both business and society. It can be downloaded here.
Like our Facebook Page
6 Tips to Avoid Environmental Compliance Violations
The Controversial Beginning of Tesla Motors – a Green Giant
Tackling The Environmental Challenges Of Last-Mile Delivery
How Eco-Friendly Shoes Make a Bigger Difference Than You Think
Can You Use Your PC In an Eco-Friendly Manner?
How Pain Management Hurts the Environment, and What You Can Do to Help
4 Countries That Have Banned Single-Use Plastic
What Is Your Carbon Footprint and How Can You Reduce it?
How Business Leaders Can Positively Impact Water Scarcity
Plant-Based Protein Coffee is Eco-Friendly & Healthy
Brian Sheth and Sheth Sangreal Foundation Donate $15 Million to Global Wildlife Conservation
8 Great Tips to Find an Eco-Conscious Moving Company
Eco-Friendly Gardeners Can Make Compost from Organic Waste
Benefits of Starting an Eco-Friendly eCommerce Business
Can Employers Help the Planet with Work from Home Policies?
Creating a Green Basement Environment for a Healthier Home
More People Are Practicing Eco-Conscious Lawn-Care
9 Tips to Write Stellar Papers as an Environmental Science Major
Why You Need to Know These Hard Facts About Ethical Investing
How to Reduce the Carbon Footprint of Your Office
Energy3 months ago
How To Choose the Right Solar Inverter for Your Home?
Energy3 months ago
How to Choose the Best Solar Panel for Your Home
Environment10 months ago
Importance of Using a Water Purifier in an Area with High Pollution
Environment3 months ago
Reduce Industry Footprints with Sustainable Material Swaps