We're coming up on budgeting season for CY 2003, and it's time to push top management for more funds to devote to CSR. The good news is, they recognize the importance of
corporate social responsibility: A recent survey of 264 Fortune 1000 CEOs discovered that 36 percent are more conscious of corporate social responsibility since Sept. 11, and 52
percent believe that if corporations acted more responsibly in their international communities, they could limit the support of terrorist groups. The bad news: The same study
showed that only 12 percent of those CEOs are allocating more resources to corporate citizenship efforts and only 9 percent are spending more dollars on CSR. Other findings from
the survey, conducted by Jericho Communications in New York:
- 76 percent of respondents say they are more likely to invest their personal finances in a company that practices CSR
- 3 percent of respondents say their company's commitment to CSR policies has stemmed from unwanted attention from media or consumer groups
- 64 percent believe the media has been fair in its coverage of a company's responsibilities to global communities
- When presented with the question of how they would spend an extra $100 million, 18 percent said they would spend the money on CSR
Editor's Note: For more information on CSR, see "CSR: The Buzz Phrase That Could Spell Corporate Redemption," PRN, Aug. 12. (Eric Yaverbaum, Jericho Communications, 212/645-
6900)