2012
UPFRONT
Warming Up to Sustainability
Sure, there are still those who don’t accept the theory that global warming is occurring. But the recent release of a report by the Intergovernmental Panel on Climate Change caused even some of the biggest skeptics to acknowledge that human activity is a likely contributor to climate change. Now, instead of “No way,” many are asking: “Now what?”
While some needed something big, like this report, to get them thinking about how people’s actions damage their environment, many organizations have gotten a jump start on weaving socially responsible—and in many cases, energy efficient—practices into the fabric of their organizations.
A Jan. 29 BusinessWeek article, “Beyond The Green Corporation,” details the efforts of some of the more progressive organizations related to social responsibility. These market leaders are developing ways to slash energy usage, find new ways to recycle and produce more environmentally friendly products. And, for many, it’s paying off.
According to the article, international research and advisory firm Innovest Strategic Value Advisors has created metrics that link social responsibility and awareness to organizational profits. Innovest tells its investor clients, based on conclusive research, that companies focused around sustainability tend to be good long-term growth investments.
Another company, New York based Communications Consulting Worldwide, was also cited in the BusinessWeek article. Company research suggests that public perception related to Wal-Mart’s inattention to environmental factors set the company stock 8.4% behind where it would be otherwise had there not been these environment-related black marks on its business record.
Quality is inherently tied to social responsibility. Recently, ASQ was selected by the American National Standards Institute (ANSI) to administer and develop the U.S. position on a new international social responsibility standard, to be published in 2009. The voluntary standard is intended to provide a framework for organizations that acknowledge—and embrace—the relationship between results and responsibility. Details can be found at www.iso.org/sr.
Social responsibility initiatives are gaining momentum everywhere. How do you think social responsibility and quality can come together to produce better business results? Let us know.
