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Why external recognition is important for your CSR program

Blog post   •   Mar 25, 2019 07:49 GMT

If you have been following our responsible business (it is how we call CSR at CWT) efforts for a while you would have noticed that this is the fourth year in a row that we are announcing our EcoVadis rating.

After a first Silver year, we have managed to keep our Gold status for the third consecutive year, proving that all of our efforts towards a first-class CSR program are paying off.

Abraham Lincoln said, “Don’t worry when you are not recognized, but strive to be worthy of recognition.” We agree with this statement but, in this case, we are delighted to have such an important entity corroborating that we are taking the right path towards a more sustainable future.

Building a global CSR strategy and program is a huge effort that requires the involvement not only of a dedicated team but also of all company members. It takes a solid culture that strengthens the importance of embedding responsible business into all your business actions.

It might seem a pat on the back exercise, but it is essential counting with third-party experts that can properly evaluate your performance and set up the bar.

CSR professionals and executives can benefit from an independent view on their performance, and how it compares to peers. This can be a powerful incentive for taking actions and steps toward increasing performance.

Nowadays CSR is becoming a key criterion for measuring business performance and mitigating risks. It is part of stakeholders’ expectations, not only from a reporting and regulatory requirements point of view but as a key factor in business relationships, supply chains, investment – and also – business lending.

Receiving third-party endorsement on corporate responsibility can enhance your reputation, which increases selection prospects for tenders, co-innovation programs, and preferred partner networks.

Last but not least, CSR recognition helps attract the best talent, boosts employee’s engagement, and fosters a robust company culture.

Blog author: Françoise Grumberg, Vice President, Global Responsible Business and Diversity & Inclusion, CWT.

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