If CSR 1.0 was "do good because it is good," and CSR 2.0 was "shared value -- do good in alignment with your business strategy," then CSR 3.0 is "networked value – do good in alignment with your business strategy and tap into the power of your value chain and social network. Fully utilizing this network, companies, NGOs and governments can create greater social and financial net worth for both the company and the country.”
What does that mean? Well, one of the principle lessons of CSR 1.0 was that companies do not exist in isolation from society or the environment. Each impacts the other and "externalities" are an illusion. Ignoring the pollution downstream or a human rights violation lurking in a third-tier supplier will come back to bite you. One of the principle lessons (and allure) of CSR 2.0 was the potential for additional revenue generation in “do-gooding.” By listening to the underlying values of customers and investing in your suppliers, companies can create high value products and services that attract new...
In recent years, significant strides have been made in promoting financial inclusion by greatly expanding access to financial services, particularly for the poor. The advent of microfinance and new innovations in the delivery of financial services to reach the unbanked have enabled between 500 million and 800 million of the world’s poor to gain access to finance. But access is only half of the financial inclusion equation. Financial capability, the ability to make informed judgments and effective decisions about the use and management of one’s finances, is equally critical to achieving financial inclusion. Unfortunately, of those who now have access to financial products, only about 25% have received even the most basic financial capability training that would help them make informed decisions about borrowing, savings, and their financial future. This lack of instruction represents the “financial capability gap,” which is both massive and rapidly growing.
The Citi Foundation has long invested in and supported the importance of financial capability and asset building as a financial inclusion strategy, both within the United States and internationally. As access continues to rapidly grow due to technological innovations like mobile delivery channels, we believe that addressing the lag in financial capability is an urgent...
As a single mother of three unable to find employment in Orlando, Fla., Amanda struggled to make ends meet. Lacking employable skills, Amanda could not find meaningful work. After a relative brought her to the Community Food and Outreach Center (CFOC), Amanda enrolled in the center’s Passport Out of Poverty Program, a 24-week educational program that helps low-income families regain hope and achieve self-sufficiency. As part of the curriculum, she participated in ARAMARK Building Community (ABC) workforce readiness workshops and learned valuable skills to help her secure employment. After completing the program, Amanda was hired by ARAMARK as a grill cook and was quickly promoted to a full-time supervisor position.
At a time when many Americans, like Amanda, are struggling with unemployment, rising living costs, and health disparities, it is critical for individuals and families to be able to access vital resources and solutions to live healthy and productive lives. In addition, the rapid rate of urbanization is putting a strain on many communities, and especially on jobs. The current social and economic crisis will continue if the need to build a strong workforce is not effectively addressed. Across the nation—in large urban environments and smaller local neighborhoods— community centers like CFOC have been working hard to provide these...
AECOM Technology Corporation, a leading provider of professional technical and management support services for public and private clients in more than 140 countries around the world, partnered with the American Red Cross to host its second blood drive at New York’s Grand Central Terminal on July 9. The event drew 229 donors who gave more than 180 pints of blood.
“We are proud to sponsor such an important event for the New York City metro area,” said AECOM Chairman and Chief Executive Officer John M. Dionisio. “AECOM and our employees have a long-standing history of partnering with the Red Cross in its many efforts to save and improve lives.”
AECOM regularly sponsors employee blood drives globally and has provided leadership and donated money as well as volunteer time to the American Red Cross and its global affiliates.
The blood drive comes at a crucial time for the American Red Cross, as summer months can take a toll on the national blood supply, with high schools and colleges on break and many potential donors pursuing summer activities.
AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation...
I’ve been talking to a number of industry leaders about their Corporate Responsibility (CR) challenges. Here’s what I’ve been hearing:
- Companies are under more pressure from stakeholders to scale up CR targets, initiatives, and commitments,
- There’s never been better buy-in inside the company for CR in general, but the resources to scale-up require a major business case,
- They’ve never needed partnerships more and never been more frustrated with making them work.
The answer? Use and mobilize an asset that effective CR teams build and engage with daily -- our networks.
What if CR teams approached the networks of communities, nonprofits, employees, existing partners, and stakeholders the same way that the rest of the business looks at its value chain? How would they do that?
The first step is to adopt a different mindset and banish the word “partnership” from your vocabulary. Instead, approach challenges by asking how can we mobilize the right...
MGM Resorts International
(NYSE: MGM) and NRG Energy, Inc. (NYSE: NRG), through its wholly owned subsidiary NRG Solar, today announced the planned installation of one of the largest rooftop solar photovoltaic arrays in the world at the Mandalay Bay Resort Convention Center in Las Vegas. The 6.2-megawatt installation will be MGM Resorts’ first commercial solar project in the United States and will generate enough electricity to power the equivalent of 1,000 homes.
The announcement was made at a news conference in Las Vegas featuring U.S. Senator Harry Reid and Secretary of the Interior Sally Jewell in advance of the National Clean Energy Summit 6.0 on August 13, 2013 at Mandalay Bay.
At peak production, the rooftop array is expected to produce nearly 20 percent of the Mandalay Bay’s power demand. This in turn will also lower demand on the southern Nevada electricity grid at the hottest time of the day, decreasing the need to import energy...
The Western Union Foundation today announced support for disaster relief efforts that will help the families and communities impacted by the devastating floods and landslides in the Himalayan state of Uttarakhand in northern India.
The Western Union Foundation is making a grant of $25,000 to the International Federation of Red Cross and Red Crescent Societies to support the organization’s immediate response activities, which include providing shelter provisions, non-food relief items and safe drinking water to the thousands of families impacted by the disaster.
To encourage and support employee philanthropy, The Western Union Company will match two-for-one employee donations through July 12, 2013 to the Western Union Foundation for disaster relief efforts in northern India. Each employee can donate up to US$25,000 per calendar year.
Western Union is also encouraging its Agents to join together in supporting relief efforts. Under...
Although it still feels like it was yesterday, it was nearly a year ago when I was surprisingly called to the stage to proudly accept the Best Corporate Steward award on behalf of DSM at last year’s Corporate Citizenship Awards. Since that time BCLC has been busy; busy planning the 2013 event and busy looking for those organizations the best reflect what good corporate citizenship means. BCLC has already closed nominations for this year’s Corporate Citizenship awards and are in the process of selecting this year’s finalists. DSM was honored and thrilled to humbly accept the Best Corporate Steward Award in 2012, and we’re just as pleased and honored this year to have the privilege to serve as the Chair for the 2013 Awards.
Doing well and doing good are not mutually exclusive. Corporate integrity, ethical governance, sustainability initiatives and work helping the communities, countries, and the developing world we as corporations have the privilege of operating in is not a just nice thing to do, it is the true path to long term competitive advantage for our enterprises. DSM is in many businesses such as pharmaceuticals, biomedical materials, engineering plastics, food ingredients,...
Businesses realize that a strong education system is vital to ensure a strong workforce that will help their business grow and prospect in the future. That’s why today we see businesses take an active role in education reform through strategic partnerships and investments with local schools, nationwide educational programs, and government stakeholders.
Check out the USCC Foundation’s Education and Workforce infographic below to learn more about how businesses who care about education reform can provide a service to their communities while building a talented workforce to compete in today’s economy....
If you have been following the garment manufacturing tragedy in Bangladesh, you are well aware of the outrage expressed over the factory collapse. You also are aware of the pressure likely to be exerted on retail outlets and clothing labels to ensure such deplorable and unsafe working conditions are not used in the creation of their garment lines.
Consumers have always wanted lower prices for goods and services, but today they also want businesses to be ethically and socially responsible, which includes responsible sourcing.
Regardless of company size, sourcing responsibly isn’t easy. You may identify vendors who verbally commit to standards but whose operation may not comply with the agreed-upon principles. Or, the supplier may aspire to meet the required social and environmental criteria, and being afraid to lose a major account, they decide not to share their shortcomings.
This means you must do our homework to locate suppliers that meet your requirements. And, you must develop procedures to ensure your social, ethical, and environmental expectations are met.
MillerCoors adopted responsible sourcing principles in 2008. In 2011, the company asked a number of its top suppliers to join the Supplier Ethical Data Exchange (Sedex)....