The USDA announced it was awarding $39 million in grants to American business owners in order to increase access to domestic biofuels.
The Corner Office: USAA CEO Stuart Parker on the value of corporate citizenship
The following is excerpted from Issue 29 of The Corporate Citizen.
At USAA, CEO Stuart Parker recognizes that business and corporate responsibility goals should serve a common purpose. At the 2019 International Corporate Citizenship Conference, Parker shared the following insights from USAA’s corporate responsibility evolution:
“Corporate responsibility is the right thing to do, and it makes good business sense. When your company shows it cares, employees become more engaged, communities pay attention to what you do, and customers become more loyal.
Research in 2015 revealed that the world-class standard of corporate philanthropy is to give back one percent of profits. At the time, USAA was giving less than one-half of one percent. So we decided to take the issue to our board of directors in a compelling way. We communicated how to align our corporate giving for greater effect and more strategic focus. When we framed how to do it in a way that also helps our association, the board was very supportive.
Today, USAA proudly gives more than $40 million a year, which is one percent of our pretax income. Our members support this decision, too, because we have a strategy that ensures the money makes a huge impact.”
Read more in Issue 29 of The Corporate Citizen.
Related Content
The U.S. Food and Drug Administration and the Environmental Protection Agency announced the approval of antimicrobial treatment for pre-harvest agricultural water.
Beginning November 21st, 2024, Massachusetts workers will be covered for reproductive loss events under the Earned Sick Time Law
The U.S. Drug Enforcement Agency (DEA) and Department of Health and Human Services (HHS) announced the extension of telemedicine flexibilities until December 31st, 2025.
The U.S. Occupational Safety and Health Administration (OSHA) released an expanded inspection guidance for the meat industry.
WEBINAR: Corporate citizenship leaders from Dow and Thermo Fisher Scientific explain how supplier diversity can generate serious gains in workforce inclusiveness, innovative products, improved services, job growth, community impact, and even supporting decarbonization goals.
Your company may be doing a lot to live up to its corporate citizenship commitments. But how well do those efforts represent all your employees? Get the notes from our latest meetup on this topic.
The EPA has announced a product label that indicates “safer use” products for outdoor use, including pet care products, fire defense products, and car, boat, or grill cleaners.