Cynthia Figge of CSRHub Speaks on Integration of CSR with Business Strategy
A company’s stakeholders — customers, employees, investors and regulators — increasingly recognize the key role of business in driving global sustainability. For a business to compete and be successful in the long run, it is now crucial that the decision-making at every level within the company must take account of its corporate social responsibility.
In a recent interview, Cynthia Figge, CEO and co-founder of CSRHub, put a spotlight on this vital issue. In conversation with The Bottom Line podcast host Rick Wartzman, Cynthia spoke about Why it Makes Sense For Companies to Be Socially Responsible. A recording of this insightful and in-depth conversation is available here.
Cynthia points out that a change in investor perceptions is gradually taking place. When evaluating portfolios, investors now look at data to assess if the company is performing below a certain score in terms of its social responsibility. They will then go deeper to look at what is going on in the company and why the performance is poor in that area.
According to Cynthia, the corporate shift towards becoming more socially responsible is for real, and no longer mere lip service. Companies are also pursuing CSR to protect themselves from different types of risk. While in the old days, the primary reason for a business to pursue CSR was to burnish its public image, over time the motivations have become more financial and operational. “You see Bloomberg integrating ESG on their terminals,” says Cynthia.
Cynthia Figge is a forerunner and thought leader in the corporate sustainability movement. She has worked with major organizations including BNSF, Boeing, Coca-Cola, Dow Jones and REI to help craft sustainability strategy integrated with business. She serves as an advisor to media and technology companies, and served as president of the board of Sustainable Seattle. Cynthia has an MBA from Harvard Business School.
Source: 3BL Media