If you've no account register here first time
User Name :
User Email :
Password :

Login Now

Putting CSR On The Balance Sheet

Firms need to attach a financial value to the environmentally responsible initiatives that undertake, according to a VNUNet article. But is there anyway to include corporate social responsibility on the balance sheet and receive some financial reward for choosing socially responsible but costly activities?

“There’s no way of saying ‘we spent extra money but it can be offset in some way to show a net benefit’,” says Professor David Crowther, who specializes in CSR at De Montfort University. Instead, he argues that the best thing that you can do is demonstrate your CSR to customers, even if it doesn’t net you direct financial rewards.

Even though there is no international regulatory group responsible for dictating corporate responsibility, more ways are developing to include CSR on the balance sheet in a structured, universally agreed way. The Global Reporting Initiative publishes a sustainability reporting framework that enables companies to lay down their sustainability activities in accounting terms.

Ernst & Young also works with the AA1000 series of standards, produced by UK-based non-profit AccountAbility. Similar to the framework provided by the GRI, these standards are designed to promote social and ethical accounting and reporting.

But the validity of these standards will only come through adoption and usage.

(Visited 33 times, 33 visits today)
Run an Efficient EHS Audit Program - A How-to Guide
Sponsored By: Sphera Solutions

Waste and Climate: Reducing Your Footprint
Sponsored By: Covanta Environmental Solutions

Environmental Leader Product and Project Awards 2016
Sponsored By: Environmental Leader

Top 10 Steps for a Successful EMIS Project
Sponsored By: Sphera Solutions


Leave a Comment

Translate »