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Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate soci - Essay Example
Author : laurynmacejkovi
Finance & Accounting
Pages 5 (1255 words)
Corporate Social Responsibility Reporting Name Institution Instructor Course Corporate Social Responsibility Reporting Over the past a couple of decades, the number of companies preparing CSR in their reporting has been growing rapidly. There are a couple key reasons behind the reporting…
the material costs relating to regulatory compliance. In the developed countries i.e. United States, Canada, and Australia among other countries, there has been a growing need for CSR reporting i.e. because of the stakeholders’ pressure and increased public awareness. Company’s shareholders, stakeholders and CSR reporting One of the key reasons why companies prepare the CSR reports is to offer useful information to the shareholders and stakeholders. This information translates into enhanced environmental and social conditions, because of the fact that stakeholders rewards the top performing corporations and punish the poorly performing corporate. Many investors and consumers are demanding environmental and social accountability amongst the companies, which has put pressure on them to execute CSR reporting. There has been a growing number of CSR reporting certifications i.e. ISO and SA8000 certifications, which reflects the growing need for reporting. They provide proof that CSR reporting offers valuable information to shareholders, and the companies’ stakeholders. Many companies view CSR reporting as an investment move as opposed to a cost. They conduct research relating to their stakeholders’ needs and report to them (Tschopp, 2012). ...