Sustainability and Corporate Social Responsibility (CSR) have climbed back up the list of priorities for the world's largest retailers and consumer brands, according to a major new survey from the Consumer Goods Forum.
The trade group's bi-annual Top of Mind report surveyed 345 senior executives at global retail and consumer goods companies in 46 countries and found that corporate responsibility initiatives have regained second place in their list of priorities, having slipped into third last year.
Speculation had been mounting that recessionary pressures would force many firms to scale back or ditch CSR initiatives altogether. However, Consumer Goods Forum’s managing director Jean-Marc Saubade said that CSR had become entrenched within many large organisations and would bounce back as the economy recovers.
"It is encouraging to see that corporate responsibility has not only withstood the pressures of the economic crisis, but has even risen up the rankings this year – proof that its influence on the corporate agenda is here to stay," he said.
Speaking to BusinessGreen.com, Richard Lewis, sector analyst for the Consumer Goods Forum, said that there was plenty of evidence to suggest the industry had successfully answered investors who questioned the value of sustainability and CSR initiatives.
"There was a bit of a backlash in 2009 when some investors asked where the financial benefits were in CSR and sustainability initiatives," he observed. " What we "have seen is the companies have gone away and done the work and shown that measures that save them energy and water and resources are boosting the bottom line. They are more confident now that they have the numbers and they are coming back for a second bite."
Lewis cited recent announcements from M&S and Unilever that they are now looking to accelerate their sustainability programmes as evidence that senior executives are increasingly confident that CSR should be a central part of the business.
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