Developing a well thought-out, credible and effective Corporate Social Responsibility (CSR) strategy can be a daunting and time-consuming task. Organisations need to understand and prioritise both the strategic and reputational risks that arise as a consequence of their business practices and operations. Too often, companies turn to a CSR strategy in response to an adverse event. In this “reactive” mode, companies often make hasty decisions, which lead to an ineffective allocation of resources.
We help our clients develop and implement a range of strategic programmes for the ongoing management of business conduct, risks to reputation and corporate responsibility. Specifically, we work with clients on the development and testing of codes of ethics and conduct; corporate responsibility, environmental, health and safety, and community management systems, controls, policies and procedures; internal audit; and performance and risk metrics.
PwC has developed a systematic approach that helps both companies that have a strategy or those that are forming one to quickly inventory existing CR activities and assess them against internal obligations (e.g. values, codes, policies, etc.) and leading external practices (e.g. peers, rating indices, reporting guidelines, etc.). Depending on a variety of factors, including the industry, geography, and stakeholders, our approach can be tailored to help meet the needs of any client and quickly identify major gaps.
Companies are no longer accountable only to shareholders and the investment community. They recognise that a broad and diverse group of constituents, including employees, activists, suppliers, consumers, regulators, communities and NGOs can have a significant impact on their reputation and business performance. Stakeholder engagement has therefore become a core requirement for maintaining competitive advantage.
Our consultants and project management staff support governments in evaluating national and international policy options, and help industry make informed decisions concerning corporate investment and strategic environmental management.