Corporate social responsibility (CSR) is a business practice that involves taking responsibility for the social and environmental impacts of a company’s operations. CSR can help companies to improve their reputation, reduce costs, attract talent, and foster innovation. CSR can also benefit society by addressing global challenges such as climate change, poverty, and human rights.
In the UK, there is no legal requirement for companies to report on their CSR activities. However, many do so on a voluntary basis. Stakeholder expectations also influence decisions in this area. Some of the benefits of reporting on CSR include enhancing transparency, building trust, demonstrating leadership, and identifying risks and opportunities.
CSR Standards
There are different frameworks and standards that companies can use to report on their CSR performance, such as the Global Reporting Initiative (GRI), the International Integrated Reporting Council (IIRC), or the UN Global Compact. However, there is no one-size-fits-all approach, and companies should tailor their reporting to their specific context and stakeholders.
UK Company Corporate Social Responsibility examples
Here are some examples of UK companies that have published a CSR report in 2020 or 2021:
DPD UK:
The delivery company has a CSR strategy that focuses on three pillars. It has a carbon neutral commitment, uses smart urban delivery, and innovative entrepreneurship. The company aims to reduce its CO2 emissions by 10% per parcel by 2020. Furthermore, it aims to deliver 25% of its parcels in 25 cities with zero or low emission vehicles by 2025. The company also offers customers flexible delivery options and supports local partner companies and social enterprises. DPD UK – Corporate Social Responsibility
KPMG UK:
The professional services firm has a CSR vision to inspire confidence and empower change in society. The firm focuses on four areas: responsible business, inclusion and diversity, community engagement, and environmental sustainability. The firm has set targets to reduce its carbon footprint by 50% by 2022. It also aims to achieve net zero emissions by 2030. In addition, the firm also supports various social causes such as education, mental health, and homelessness. Corporate Responsibility Report – KPMG UK
Financial Times:
The media company has a CSR mission to promote high-quality journalism that informs and educates society. The company has four CSR pillars: people, planet, product, and purpose. The company aims to create a diverse and inclusive workplace culture. Also, it intends to reduce its environmental impact, to uphold editorial independence and integrity. In addition, it supports social initiatives such as literacy, education, and human rights. Corporate social responsibility | Financial Times
So, as consumers, we should be paying more attention to which companies we interact with and what their CSR business practices are. Remember, you have purchasing power. They need you to buy from them so make sure that they are playing their part or take your business elsewhere!
Corporate Social Responsibility: Campaigning Organisations
Also, consider supporting organisations and groups that hold companies to account. For example, consider supporting ones like Greenpeace and the WWF.