Using corporate social responsibility benchmarking framework to identify and assess corporate social responsibility trends of real estate companies owning and developing shopping centres

Shopping centres that include retail activities have come in for criticism as to their environmental, architectural and social impacts. However, the sector has been applying corporate social responsibility (CSR) practices. In an attempt to identify the best practices regarding CSR and trends therein we developed a CSR benchmarking of companies from the real estate sector owning and developing shopping centres. Based on information from websites, annual, environmental and sustainability reports, and customer services department’s information, in 2004 and 2010, a comparative CSR benchmarking was performed on 23 real estate companies with shopping centres based in Europe, China, Australia and the USA. The CRS benchmarking framework focused on reported CSR practices and included categories and sub-categories of evaluation in four domains: (1) external results, (2) internal results, (3) management processes and (4) learning and innovation. The framework was inspired by the sustainability balanced scorecard structure. The United Kingdom real estate sector’s companies studied did relatively well when evaluated by the framework used in this study. The highest ranked real estate companies applied sustainable or environmental buildings standards and did show a commitment to transparency and CSR disclosure. The positive evolution of CSR practices in the 23 companies studied in 2004 and 2010 may reflect efforts to improve competitiveness and the reputation of the companies with shopping centres through CSR initiatives.     

The science of corporate social responsibility (CSR): Contamination and conflict in a mining project in the southern Ecuadorian Andes

In this article, I explain the role that scientific studies play in shaping collaboration and conflict over mining exploration in the Ecuadorian highlands. Toronto-based IAMGOLD conducted water quality studies to simultaneously fulfill legal obligations and secure support for drilling in an environmentally sensitive zone. With these studies, IAMGOLD generated collaborative relations with local authorities and university scientists. However, water quality studies were also used by dairy farmers to establish new connections for an opposition movement. The scientific studies enabled IAMGOLD and the dairy farmers to make competing claims about the responsibility for contamination of an important watershed. This article analyzes the conflict that resulted and challenges conventional wisdom that distinguishes a corporation's legal obligations from its voluntary CSR programs.     

A framework for assessing discretionary corporate performance towards the environment

This article reviews the existing models of corporate social responsiveness and develops a theoretical framework with which to examine corporations' discretionary performance with respect to one social issue, that of the environment. Discretionary indicators of corporate response to environmental issues are developed and tested within this framework. Twelve companies from five different sectors were selected for the survey, based on prior knowledge of their commitment to environmental concerns. Primary data was collected from personal interviews, and secondary data was obtained from company documents, annual reports, and other forms of publically disclosed information. Empirical results varied, but certain voluntary indicators, such as composition of the board of directors, the environmental affairs function, community support, and the annual report are considered to provide strong indications of discretionary corporate performance. Philanthropy and company products proved to be less satisfactory indicators of corporate commitment to the environment. The aggregated results revealed a correlation between the final rankings of firms' discretionary environmental performance and whether those companies are process or product oriented. Linkages between discretionary elements and those of economic and legal requirements were not explored.     

Balancing environmental and industry sustainability: A case study of the US gold mining industry

Mandatory insurance requirements and/or mitigation fees (royalties) for mining companies may help reduce environmental risk exposure for the federal government. Mining is examined since the Environmental Protection Agency (EPA) Toxic Release Inventory reveals that this sector produces more hazardous waste than any other industrial sector. Although uncommon, environmental expense can exceed hundreds of millions of dollars per development. Of particular concern is the potential for mines to become unfunded Superfund sites. Monte Carlo simulation of risk exposure is used to establish a plausible range of unfunded federal liabilities associated with cyanide-leach gold mining. A model is developed to assess these costs and their impact on both the federal budget and corporate profitability (i.e., industry sustainability), particularly if such costs are borne by offending firms.     

Sustainable Development and the Role of the Financial World

The incapacity to finance sustainable development through philanthropic official assistance turned the Johannesburg Summit to business world and the financial industry. Pioneering financial institutions – including development banks and private banks – have developed a wide range of innovations that can support sustainable development. This article highlights a few innovative products and markets and focuses on the progress made by financial players on the level of standards, metrics and guidelines to improve sustainability management systems, reporting and accounting practices and the multi-stakeholder dynamic. The role of the socially responsible investing (SRI) community has been underexposed by the Summit. Through its voice and market success, SRI has moved from a green market niche to the mainstream, however not becoming mainstream. The invaluable levering effect of SRI has just been discovered by authorities and market regulators and is becoming instrumental. In order to show the business case of Corporate Social Responsibility and to prove the financial viability of the People, Planet, Prosperity investing approach, the SRI community should critically reflect on its own quality assurance systems, sound disclosure and verification practices.     

Justice for Bhopal! And No More Bhopals! Three decades of national and international campaigning

Dissatisfaction with the responses of the responsible corporation, Union Carbide, and the Indian government to Bhopal resulted in a campaign by national and international NGOs (non-governmental organisations) over the past three decades. While initially the Indian and international campaigns were separate, over time greater international cooperation took place. In the immediate aftermath of the disaster local NGOs prioritised health, justice and rehabilitation issues, while international NGOs used Bhopal to question chemical industry process and environmental safety in their own countries, as well as internationally. Indian NGOs called on international NGO resources to gain legitimacy for their campaign, to use NGOs as proxies and to extend the geographical scope of the campaign, while international NGOs used Bhopal as an example to advance NGOs analyses and policies. Over the period of the campaign, Indian NGOs became more sophisticated in their campaigning. The international campaign has increasingly become an online campaign, involved in an image or reputational war with Dow Chemical, which took over Union Carbide, while the original campaign issues of justice and reparations over the process safety disaster were joined by similar issues related to environmental safety of abandoned toxic waste.     

GE公司EHS绩效变化趋势与内部机制探讨

剖析通用电气Plan(政策/目标)-Do(运营体系)-Check&Act(检查改进)的EHS管理体系框架;通过综合指数法分析各环境、健康和安全绩效指标近年的变化趋势以及采取的管理措施;分析总结GE环境管理和环境质量绩效持续改进的机制与工具:(1)全球统一的EHS管理和运营体系;(2)自上而下的EHS培训与自下而上的沟通;(3)数字化的EHS管理工具;(4)严格的EHS审计保证机制;(5)强烈的企业公民责任意识和EHS文化,为国内企业建立和完善EHS管理和运营体系所借鉴。     

Does the stock market value the inclusion in a sustainability stock index? An event study analysis for German firms

This paper empirically analyzes the effect of the inclusion of German corporations in the Dow Jones STOXX Sustainability Index (DJSI STOXX) and the Dow Jones Sustainability World Index (DJSI World) on stock performance. In order to receive robust estimation results, we apply an (short-term) event study approach that is based on both a modern asset pricing model, namely the three-factor model according to Fama and French [24], and additionally a t-GARCH(1,1) model. Our empirical results suggest that stock markets may penalize the inclusion of a firm in sustainability stock indexes. This finding is mainly driven by a strongly negative effect of the inclusion in the DJSI World. In contrast, we do not find significant average cumulative abnormal returns for the inclusion in the DJSI STOXX. This suggests that the inclusion in a more visible sustainability stock index may have larger negative impacts.     

基于CIS理论的绿色大学评价指标体系研究

通过研究绿色大学建设过程中出现的不足,提出构建绿色大学评价指标体系是建设绿色大学的前提。以CIS（企业识别系统）理论为依据,从理念层、行为层和物质层三个层面进行研究,构建了一个由3个一级指标12个二级指标和45个三级指标构成的绿色大学评级指标体系。最后对绿色大学的评价方法进行了简单陈述。     

Corporate environmental responsibility in the supply chain

A continuing trend in outsourcing increases the complexity of supply chains. Global supply chains extend over numerous echelons of countless companies. In parallel, the company-internal view on corporate environmental responsibility is being challenged as customers and legislation alike broaden a company's environmental responsibility to include organisations' upstream as well as downstream in the supply chain. Therefore, the aim of this study was to examine corporate environmental responsibility beyond corporate boundaries, i.e. in the supply chain. A cross-industrial study based on 16 case studies in Finnish trans-national corporations sheds light on various dimensions of corporate environmental responsibility upstream and downstream of product and process supply chains. Conclusions were drawn for corporate environmental responsibility as well as for the role of supply chain management in extending environmental demand over several echelons and diverse industries.