Company Sustainability CritiquBMO Financial Group - Essay Example

The third generation corporate social responsibility enveloped everything and every activity an organization is involved in or can be involved. This included the credibility of the processes and practices, reporting and measuring, integration of various disciplines, sustainable financial development, developing sustainable values and systems, strategies and visions of the organization and its overall structure. It included stakeholders and sustainability of environment and business. This critique is primarily based on the “2010 Corporate Responsibility Report and Public Accountability Statement”.

The organization has been keeping track of each and every aspect of business that can directly or indirectly affect the community, environment and stakeholders. This has been identified as a major strategic vision for the sustainability of the business. The organization claims to evaluate each and every aspect of the business decision and the probable impact on the communities and the major stakeholder of the same. The company is involved in integrating ESG (environmental, social and governance) factors in all its activities from financial to corporate citizenship3.

In this direction, the organization has started publishing detailed corporate responsibility report. It provides information on each decision taken by the company and the probable impact on the environment to its major stakeholders4. Company Sustainability BMO is recognized for the corporate responsibility. There are various indexes and reports of various organizations that have supported the credibility and position of the company on various corporate governance and ethical issues. The company has been recognized for its corporate social responsibility by the esteemed performance indexes like Dow Jones sustainability North America Index, Jantzi Social Index, FTSE4Good Series Index, Jantzi Maclean’s and Corporate Knights’ Magazine (2003-2007) fifty most responsible corporation in Canada.

The company has committed to its corporate responsibility and sustainability objectives. The company has identified various areas with sustainability challenges and collaboration where bank can intervene and work towards maintaining sustainability. Company has incorporated the sustainability objectives to its core values, governance structures and code of the conduct. The business policies are developed and implemented within the sphere of the corporate responsibility and sustainability objectives.

Company has been consistently involved in the projects and activities that can add value to the sustainability objectives. Governance and Ethics The organization has evolved FirstPrinciples for all the employees that provides them an opportunity or authorizes them to report any incident or aspect that can be against the code of conduct of the business. There are various employees issues like conflict of interests, mishandling of staff by their seniors and other petty issues. However there has been handful of incidents reported.

There can not be any question on the validity of these rights as company has ensured the confidentiality and anonymity to all the employees reporting any issue. Company is committed for the consistent monitoring of regulatory changes and best practices of corporate governance. The timely audit and the feedbacks allow them evaluating the governance practices along with the best practices of