Social Responsibility

Funding focuses on math and science, leadership for '21st century economy'

General Electric (GE) Chairman and CEO Jeffrey R. Immelt and New York Mayor Michael R. Bloomberg announced that the GE Foundation has awarded the New York City Department of Education (DOE) a five-year grant of $17.9 million in the largest single contribution to the New York City public school system.

Benioff breaks down the foundation’s unique giving structure in San Francisco keynote address

Salesforce.com CEO Marc Benioff realized some corporate priorities were out of order when a Washington, D.C., school needed a Marine battalion, summoned by America’s Promise Alliance Founding Chair Colin Powell, to transport some computers several years ago. Before Powell was brought in, Benioff, then an Oracle executive, and another Oracle volunteer, tried to help the school, but the two weren’t up to the scale of the task. Thus, Benioff vowed at the time: “When I start a company, I’m going to integrate strategic corporate philanthropy in the business.”

Seven steps to craft and customize corporate social engagement programs

As leading companies display a growing interest in fostering connections with social organizations and causes, the dynamics of the corporate social engagement landscape are changing.  Many companies are evaluating their level of engagement and participation, and advancing their journey toward a better tomorrow, for society and for the company.

Respondents call for combining financial, corporate responsibility publications

The prospect of folding sustainability reports into annual financial reports was a tactic viewed highly by the vast majority of sustainability report readers in a new KPMG-SustainAbility survey, “Count me in: The readers’ take on sustainability reporting.” The vast majority of the 1,827 sustainability report readers, who responded to the Oct. 1, 2007-Jan. 31, 2008, survey, “desire reports in the future to be integrated with annual financial reports,” according to the findings.

Surviving CEO scandal, Qwest Foundation looks to leadership and an education focus

When former Qwest CEO Joseph Nacchio resigned from the telecommunications carrier in 2002 during an insider trading scandal, he left in his wake a disbanded Qwest Foundation, effectively shut down after the US West merger in 2000. Richard Notebaert stepped into the CEO role after Nacchio left and worked on re-energizing the foundation and restoring community outreach as a company priority. With that history, Ric Padilla, Qwest’s Vice President of Corporate Social Responsibility, understands the importance of C-level support.

Prudential Foundation’s Gabriella Morris doesn’t shy away from shining ‘a light on disparity’

Gabriella Morris, the President of the Prudential Foundation, describes herself as “basically an introvert,” and I suspect her friends and colleagues might get a big chuckle out of that self-characterization. After all, when asked at the start of an interview what differentiates the Prudential Foundation from other corporate philanthropies, Morris quickly says in jest: “I’m here.” Morris has been “here” at Prudential Financial since 1985 and she’s presided over the Prudential Foundation since 1994. Like the Prudential Foundation itself, Morris is not at all shy or defensive about the foundation’s community involvement, even in what some might consider edgy arenas.

Companies avoiding the negatives of political and civil involvement need to positively engage and assess

Governments have the primary—but not sole—responsibility in human rights. This idea is increasingly accepted as fact, but it is just the starting point for immense interpretative exercises by human rights activists, academics, a specially appointed representative of the U.N. Secretary General and many others who are trying to draw practical conclusions regarding the role of the private sector. Companies, in turn, seem to be caught unaware.

Takeaway from progressive practices initially small, but can be material over long haul

Companies rarely act on new initiatives without first knowing the so-called “business case.” Corporate responsibility must similarly factor in. The effects of corporate responsibility on profitability—the real bottom line—differ from company to company based on a number of considerations, not the least of which are size, market penetration and reach, and reputation. Another factor is the firm’s approach to corporate responsibility, ranging from very strategic or incremental on certain issues to systemic and cross-functional in scope. Yet, except for small companies whose strategic decisions and financial performance are guided by a clear set of values, chances are the CR business case is either too small or likely to take too long to have a material effect to compete with more immediate ways of generating revenue or cutting costs.

Companies took ‘road less traveled by’ well before they could name the route

Corporate social responsibility (CSR)—the term used to describe a company’s societal duties to a wide range of stakeholders—suffers from a lack of imagination. Those who view it as a defensive strategy with little or no impact on the bottom line create arguments that try to compartmentalize the topic and ignore the broader context of the changes taking place in corporations. On the other hand, those who promote CSR are characterized as ideological zealots focused on a singular aspect of a company’s actions.

Financial firms cited for their corporate-community partnerships

The Committee Encouraging Corporate Philanthropy recognized the philanthropic efforts of two financial services firms, the PNC Financial Services Group and Moody’s, as part of CECP’s National Corporate Philanthropy Day Feb. 25.