10 Compelling Reasons For CSR Reporting
It has been about 10 months since we released our inaugural Global Citizenship Report and as we prepare to update our data, we continue to see the value of our commitment to publicly disclose this information. Here at FedEx, Corporate Social Responsibility (CSR) reporting serves several purposes—some obvious, some not so much.
The obvious stuff:
- Provides a discussion platform for multiple topics ranging from environmental impact, to corporate governance, to employees and workplace, to community.
- Enables stakeholders to quickly evaluate our CSR information which is packaged in discrete portions for quick reference.
- Motivates us to set public goals and to communicate our plans for achievement.
- Gives us a common voice and perspective with regard to CSR initiatives.
- Publicly demonstrates our commitment to truth and transparency in our service and our communications.
The less obvious stuff:
- Provides us with a compelling employee engagement platform.
- Helps provide a roadmap of our CSR efforts in relationship to our business strategies.
- Reinforces and clarifies our role of “Connecting the World Responsibly and Resourcefully.”
- Allows socially responsible investors to gain information.
- Helps us align our philanthropy with our core competencies.
By no means is this list comprehensive. It is only meant to provide you with a flavor for the some of the value we have already seen from the publication of our GCR.
One very recent example of the value-add that we are experiencing is the announcement by Dow Jones that FedEx would be included on their 2009/10 Dow Jones Sustainability Index (DJSI)-North America.. Inclusion on the DJSI-NA is a big deal in the world of social investing which is estimated to command some $2.71 trillion according to the Social Investing Forum. The value-add is derived from the fact that approximately 95% of the data used for the DJSI survey was initially compiled for our Global Citizenship Report.
Clearly our Sustainability and Social Responsibility efforts have historically been well aligned with our business needs, but the advent of CSR reporting has given us greater precision and clarity of focus. There is little doubt that we will continue reporting, and that other companies will also discover the intrinsic value of CSR disclosure. We plan to release updated data in February 2010. In the meantime, we encourage stakeholders to continue to join us in a conversation on the corporate responsibility here on the FedEx blog.