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Reporting Corporate Social Responsibility
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The Challenge
The Corporate Secretary was beside herself. Shareholder research groups had inundated her office with emails and voicemails accusing the company of many transgressions. Each request provided a short timeline to respond, made worse by year-end duties and holidays. Failure to respond would suggest acceptance of the claim and the unflattering report would be made available to the group’s clients.
The Approach
A multi-functional team was convened. A spreadsheet was created that captured all the data and information requested, the dates corresponding with each requestor’s reporting cycle and contact information. Each team member was assigned multiple measures to research and to return to the team with answers to these questions: Did we currently collect data for this measure? If not was there a close proxy? Would we consider gathering data in this form in the future? If not, why not? With the first deadline looming, the team crafted its first response and included data on as many of the measures or their proxies as they had located. Phone follow up with the requestor’s contact proved beneficial in establishing a relationship and assuring willingness to provide meaningful information.
Next the team created a standard process of gathering and reporting on these measures so that in year two the company would be able to push out the requested information according to an internal calendar not external deadlines. It was determined that the Director of Compliance would own the process and she made individual contact with each of the requestor’s contacts introducing herself and establishing her organization as point of contact and accountable. Finally, the team reviewed the new process with the internal team responsible for the Triple Bottom Line report to eliminate any redundancies and streamline any data requests.
Outcomes
The corporate secretary could rest assured the company had a proactive plan to communicate its environmental and social sustainability efforts to interested parties. The company was well on its way to greater transparency.
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