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Corporate Responsibility (CR) is about improving the way that businesses respond to the needs of stakeholders and ensure the sustainability of their activities. This means that it is relevant to companies of all sizes within the industry supply chain, including clients, designers, contractors and the suppliers of materials.
Business in the Community (BITC) defines Corporate Responsibility (CR) as:
"the management of a companys positive impact on society and the environment through its operations, products or services and through its interaction with key stakeholders such as employees, customers, investors and suppliers"
Constructing Excellence, taking BITC's lead, considers Corporate Responsibility to be made up of four elements:
Issues to consider when developing the CR strategy of a construction business include climate change mitigation in new builds and business operations, as well as adapting for future climate change conditions. Water management, including drainage and water conservation, is another crucial issue to environmental CR, as are considerations of biodiversity and waste reduction (on site and in the office).
Fair treatment of staff, discrimination prevention and workplace accessibility form an essential part of any Corporate Responsibility strategy. The Investors in People Standard is a framework for developing strategies, taking action and evaluating the impact of performance. Considerations of time management, office environment, health and safety, diversity and recruitment and skills development are crucial to any CR strategy.
A successful CR strategy will seek to engage with the community on a local and sometimes global scale. Companies can have positive influence on the areas in which they work through job creation, creation of training opportunities and apprenticeships, volunteering opportunities for staff and partnering with national and international charities. It is important to consider issues surrounding sustainable communities, the impacts of the construction process on communities and volunteering.
Research conducted by Arthur D Little and Business in the Community found that nearly 70% of CEOs say that Corporate Responsibility is "vital" to profitability . Therefore a company that operates in an ethical fashion and considers environmental and social factors can improve its economic performance. Consideration of procurement of construction products and in the office is key, as is working with the supply chain to align CR values and policies.
For further information, please refer to the guidance document "Making a Difference: Corporate Responsibility for the Built Environment"
Research shows that companys that embrace CR are often more financially viable than those that do not. Forum for the Future found the majority of studies carried out between the 1970s and 1990s reported a positive correlation between CR performance and financial performance.
An effective CR approach can lead to benefits in the following areas:
In addition, customers, clients and job-seekers are increasingly interested in the values of the organisations they are looking to work with, which is possible through corporate responsibility reporting.
Constructing Excellence, on behalf of its members, is in the final stages of producing a Guide to Corporate Responsibility, which will be available exclusively to members in the Members Activities section of the website later in 2008.
Constructing Excellence also held a Members Exclusive event in March 2008 on Corporate Responsibility. The presentations from this event are available for download for members only on the Members Activities/Events section.
Business in the Community has an online CR Index, which is a benchmark of responsible business, and the website contains helpful guidance and case studies on how to make your business more responsible.