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CO: How can CSR reports be communicated, vetted, and understood by a corporation's stakeholders?
- CSR reporting is a step towards corporate accountability and
provides an opportunity for firms to build their public and brand
images, but what happens when there are 10's of thousands of reports
produced every year?
- The internet provides an opportunity to create searchable databases of reports - and critiques
- The leading reporting standard is the Global Reporting Initiative
- The media has to play a role in calling attention to good and bad reports
- NGOs can use the results of reporting to build campaigns
- This article looks at the Global Compact - Communication of Progress (COP) initiative - "detailing efforts
made in implementing the Global Compact’s ten universal principles in
business strategy and operations."
- According to GlobeScan's 2004 report, consumers are reading CSR reports as well.
News from:
United Nations Global Compact
5.30.2007 - 06:10pmET
Global Compact Launches COP Review Project
Initiative Seeks Organizations and Individuals to Participate in Global Vetting of Company Reports
(CSRwire) NEW YORK- May 30, 2007 – The United Nations Global Compact has launched a
new initiative called the "COP Review Project", inviting individuals and
organizations from around the world to participate in a global vetting
effort intended to create one of the largest fully catalogued repositories
of corporate reports on sustainability issues.
The more than 3,000 companies participating in the initiative are required
to produce an annual Communication on Progress (COP), detailing efforts
made in implementing the Global Compact’s ten universal principles in
business strategy and operations. This COP requirement was introduced in
2005 to promote transparency and accountability, identify and share
responsible corporate practices, and protect the integrity of the
initiative and the United Nations. The Global Compact’s online database
now includes more than 2,000 COPs from around 100 countries, and further
strong growth is expected.
Because the current database of communications has not been fully
catalogued yet, the Global Compact Office has developed a separate
platform that facilitates the systematic review and indexing of each COP.
The objective is to eventually establish a searchable database that will
greatly facilitate both academic and professional research of sustainable
business practices. The project also aims to stimulate further dialogue
and learning – both fundamental components of the Global Compact’s
voluntary approach.
"We are seeking the support of individuals and organizations in academia,
civil society and business from around the globe to help strengthen this
important integrity measure", said Georg Kell, Executive Director of the
Global Compact.
Individuals participating in the COP Review Project will have the
opportunity to gain valuable insights on corporate citizenship in business
practice. All participants will also receive a Certificate of Participation
after submitting a minimum of ten reviews. Each review takes approximately
30 minutes to complete.
An online platform with further information and detailed instructions can
be found at: http://www.unglobalcompact.org/CommunicatingProgress/Wiki
About the United Nations Global Compact
Launched in 2000, the UN Global Compact brings business together with UN
agencies, labor, civil society and governments to advance ten universal
principles in the areas of human rights, labor, environment and
anti-corruption. Through the power of collective action, the Global
Compact seeks to mainstream these ten principles in business activities
around the world and to catalyze actions in support of broader UN goals.
With over 3000 participating companies and hundreds of other stakeholders
from more than 100 countries, it is the world’s largest voluntary
corporate citizenship initiative. For more information, please visit www.unglobalcompact.org.
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