Finnish companies best in Europe in communicating CSR

Tuesday, November 20, 2007

Stockholm, November 8, 2007 -- In a new Spotlight Report by Swedish consultancy Hallvarsson & Halvarsson covering Corporate Social Responsibility (CSR) it is shown that Finnish companies are best in Europe in communication their CSR activities on their websites.  

UK takes silver and the Netherlands takes the bronze. CSR is gaining in importance in corporate communication and the website is the natural place to disclose information to all kinds of stakeholders. The study includes a review of 631 European corporate websites. 

The first step in the survey is to poll financial analysts, investors and business journalists across Europe about CSR related issues. From the poll a protocol with CSR specific criteria are created which is used in reviewing the companies.

A lot of the top scoring companies have sustainability and similar issues high on their agenda. It is no coincidence that top scorers in this category are companies with controversial products, such as the tobacco giant BAT (British American Tobacco) or the oil company Shell.

 “UK companies in sensitive sectors such as oil, tobacco and alcohol have been early adopters in communicating their CSR activities. With the rise of campaigning on environmental and health issues, and the flourishing new world of blogging, these companies need to address what is said about them elsewhere as well”, says Marcus Eriksson head of the survey at H&H.

Increased demand for environmental information

Increased demand for environmental information is the dominant change according to the survey. The debate about climate change has also made an impact on the websites reviewed and many companies publish their standing on the issue on their sites. There is also a high focus on charity and standardised information, such as ISO 14001.

80 % cooperate with NGOs

More than 80 per cent of the European companies communicate a broad co-operation with NGOs, such as WWF, Red Cross, UNICEF and SOS Children’s Villages on their corporate websites.

The top sectors

Utilities, Basic industries and High tech are the three top sectors. Again it appears as the more exposed a sector is for responsibility issues, the more CSR is communicated on the corporate website. 

CSR is an area that has gained more attention recently. The amount of capital invested according to ethical principles has increased, “Investors and fund managers request this information more often. Even sellside analysts are now interested in CSR, because it is now so integral to any company’s strategy so that it is becoming a way of assessing risk. Today CSR issues are also far more measurable, which is what analysts need, says Marcus Eriksson.

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