Corporate social responsibility (CSR) – an all-encompassing term that includes international corporate policies such as human rights, environmental protection/ sustainability, philanthropy, corruption, and labor outsourcing is of great interest to the public.  Many companies release an annual CSR report, but with no standard format.  As a result, understanding the information within a CSR report can be a challenge.  Fortunately, the Weissman Center has stepped up to the plate with a fantastic solution to this dilemma.

Researchers at the Weissman Center, under University Distinguished Professor S. Sethi, developed the CSR-S Monitor which offers a metric for comparing and ranking CSR reports.  After an intensive evaluation process, each CSR report receives a score out of a possible 100%.  This year, the project analyzed 560 company reports.

I recently sat down with Dr. Terrence Martell, Director of the Weissman Center, and he was eager to express how excited he is about the project, “The CSR-S Monitor is an important addition to the services provided at our Center.  It is a true international business project as it compares reports from around the globe.”  He also elaborated on the goals of the project, “The objective is to increase transparency and verifiability of CSR activities.”  Ultimately, by ranking companies based on the project’s metrics, the project hopes to inspire companies who publish (or plan to publish) CSR reports to create high-quality reports in the future.

Some of the CSR-S’s findings were quite surprising.  Despite the attention CSR has received in America, only one U. S. business made it into the top 10 list this year, Tiffany and Co., which secured the eighth spot.  Tiffany and Co. utilizes an ethical and environmentally-friendly approach to sourcing diamonds, and uses the Kimberley Process to ensure that no ‘conflict diamonds’ enter its inventories.  2012’s top scoring company was VALE S.A., a mining company based in Brazil that achieved a score of 70.75%.

So are you curious about corporate social responsibility?  If the answer is yes, you’re in the right place here at Baruch.  To get a taste of CSR topics, we recommend the Sustainable Business Club (SBC).  SBC’s Baruch chapter is a student-run organization dedicated to issues under the CSR umbrella, including social entrepreneurship, green marketing, socially responsible investing, and renewable energy.  If you have a strong academic inclination to study CSR processes, Baruch also offers a major in Environmental Sustainability as an interdisciplinary major.

For more information on CSR related topics, check out the links below.

–          Sustainable Business Club (Baruch Chapter)

–          Environmental Studies Major at Baruch

–          Learn more about the Kimberley Process

–          CSR at Tiffany and Co.