WEBINAR: Charles Schwab Foundation and social impact agency, Prosono, share a case study using a fresh approach to evolving strategic CSR practices.
Ready Response: Crisis on Top of Crisis
COVID-19 is disrupting business operations and ESG programs across the world. To support your efforts in this time of disruption, we’re rounding up relevant Center resources, news, company best practices, and research and gathering it in one place at Resource(ful).
Blog: Crisis on Top of Crisis: Can Business Leaders Create a Positive Tipping Point?
Corporate citizenship leaders have a role to play in response to the recent riots and protests triggered by George Floyd’s unnecessary death. READ MORE
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Member Response to George Floyd Protest
We are maintaining a list of examples of how Center members are responding to George Floyd protests. View the list here.
For members looking to discuss issues around these protests, our online member community offers a secure, supportive environment to connect and collaborate with hundreds of CSR peers.
To provide a safe space for frank discussion, our online community is open to Center members only. To learn more about how you can participate in the full discussions and access other key member benefits, visit our Become a Member page.
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Members in Action
Check out our ongoing list of how companies are responding to COVID-19.
Berkshire Bank is providing $3 million in capital to assist black-owned businesses with BECMA & MALGBT Chamber Futures Fund.
Deere & Company has shipped more than 200,000 face shields and plans to produce another 200,000. While initial orders were delivered to healthcare workers in communities where our employees live and work, plans have expanded to provide shields to healthcare workers in more than a dozen states/Canadian provinces.
Deloitte committed $2 million USD to support funding the unique and varying response and relief efforts of local communities across the country. As part of this commitment, a portion went to the United Way Worldwide’s COVID-19 Community Response and Recovery Fund, which provides support for the 211 network, free and confidential 24/7 hotline service that helps people find the local resources they need—whether food, health, or education resources.
How is your company responding to COVID-19? Let us know by contacting us at ccc@bc.edu
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Relevant Tools & Research
Aligning CSR to core business capabilities and operating context can improve financial performance, especially in hard times
Strategic alignment between a company’s core business and the type of corporate citizenship it engages in—community or environment—is more likely to benefit the financial bottom line, particularly during economic crises. READ MORE
Infographic | Communicate the Value of Inclusion and Diversity
By partnering with other business units, corporate citizenship professionals can support employee resource groups, mentorship programs, and other initiatives that foster the connection, development, and advancement of underrepresented groups. VIEW
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News You Can Use
Facebook, Snapchat join chorus of companies condemning George Floyd death, racism
The two tech companies stood with Intel Corp, Netflix Inc, Alphabet’s Google, International Business Machines Corp and Nike Inc in taking a public stance against Floyd’s death - calling out discrimination against African-Americans. Reuters
The number of working African American business owners in the United States plummeted more than 40% as the coronavirus shut down much of the economy. This is a far steeper drop than any other racial groups experienced, confirming fears that the pandemic would deepen inequalities in the business world. Experts have voiced concerns that wealth gaps, trouble accessing government aid, and concentrations in reeling industries have left these companies and the families they support more vulnerable to the pandemic’s fallout. Washington Post
Related Content
WEBINAR: This session will cover the step-by-step approach to launching a firmwide CR effort, from getting leadership buy-in, to assessing and anticipating strategic challenges.
RESEARCH BRIEF - Board-level gender diversity contributes to a virtuous cycle of firm performance.
RESEARCH BRIEF - Researchers found that corporate citizenship impacts financial performance positively only after a threshold amount of investment has been made.
RESEARCH BRIEF - Evidence from the banking industry suggests that smaller firms that are locally owned and managed react differently to fluctuations in financial performance than large firms with a more extensive geographic reach.
RESEARCH BRIEF - CSR-based incentives for executives improve corporate citizenship performance for all companies. However, a firm whose governance emphasizes stakeholders over shareholders is more likely to benefit financially from such executive compensation structures.
RESEARCH BRIEF - Firms with top CSR programs receive higher relative market valuations than their industry peers.
REGULATORY RADAR - The state of Washington’s board diversity requirement goes into effect in June 2020 and mandates that all public companies subject to the Washington Business Corporation Act have a gender-diverse board by January 1, 2022 or comply with new board diversity disclosure requirements.