More and more companies are recognising the value of corporate social responsibility and last month a World Bank study was published indicating that CSR issues are now just as important as more traditional factors such as cost, quality and delivery.
UK business, however, does seem to be more sceptical of the commercial value of CSR; a recent report by Echo Research shows that only 28% of UK investors consider CSR policies when making investment decisions compared with 45% of worldwide investors. The report suggested that many British companies associate CSR too closely with public relations and that it is still not an integral part of many businesses.
Many timber companies traditionally have shared this scepticism regarding CSR but, over the past decade as environmental issues have become more pronounced, it begins to look increasingly commercially attractive.
The TTF started making CSR a priority with the adoption of its Code of Conduct, and with the development of its Responsible Purchasing Policy it is extending its work in this area even further. In addition to these projects, our Ten Point Action Plan for Indonesia and our involvement in developing an EU-wide plan to promote the legal and sustainable sourcing of timber into the European market place, all indicate a strong commitment to promoting responsible business. By September we will have published our own guidelines enabling you to evaluate your own CSR record and practical recommendations on how to improve upon it.
The Federation is very much following the lead given by the government that wants business to embrace CSR on a voluntary basis and to avoid, if possible, the need for legislation and regulation with all that means in terms of red tape, interference and increased costs.
