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Corporate responsibility is increasingly influencing where and with whom major multinational corporations do business, reveals a new report, "Race to the Top - Attracting and Enabling Global Sustainable Business"

Over 100 multinational enterprises participated in the project, which was commissioned by the World Bank Group to evaluate whether corporate social responsibility affects the international investment and purchasing decisions of the largest companies in the world. The study was jointly conducted by PELC, a New York-based firm, and by Ethical Corporation magazine, the London-based corporate social responsibility publication.

 "Many global companies have made a commitment to creating lasting social and economic value in their host communities," said Jonathan Berman, PELC's president, who directed the study. "This study clearly indicates that their investment and purchase decisions are now being influenced by where they can meet those commitments."

The report reveals that:
  • 88% of participating companies report that CSR factors are of greater influence in determining where they source and invest than such factors were five years ago. Of these, more than half report that CSR factors are "much more influential" than they were five years ago.
  • 52% have chosen one developing-country partner over another on the basis of their CSR policies.
  • Investment in CSR, over the past five years, has increased in terms of staff (74%), budget (72%) and top executive time (68%)

"This report is a landmark in corporate social responsibility, both for its form and contents," said Tobias Webb, Ethical Corporation's Editor-in-Chief. "In an arena filled with anecdotal and speculative evidence, Race to the Top delivers quantitative information never before gathered."

More information on the study can be found at www.ethicalcorporation.com.

“Corporate citizenship concerns investment in communities…wherever we operate.  Our reasoning is that business is a continuing activity, not just for today, but for years to come (and) we have a direct long-term interest in their successful development.”

Sir John Brown, BP plc

Is your company seeking ways of enhancing its corporate social responsibility initiatives in Africa?  Contact: www.interimsfd.coml

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