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Corporate Reports Not Just Financial.
(From The Moscow Times)
When British American Tobacco Russia released its first social responsibility report in 2002, it got some unexpected feedback: Stakeholders wanted more.
They not only wanted more details on how the company markets its products, they wanted more data on the health dangers of those products.
BAT responded by ramping up its web site and issuing new informational pamphlets. In other words, it acted on the concerns of stakeholders by doing something that would not necessarily beef up its bottom line.
For years, corporations in the West have realized that there is more to building a successful business than simply making money, and the best corporations exert a considerable amount of time, energy and even capital on improving what is known as "corporate social responsibility," or CSR. In addition to annual financial results, many companies issue annual CSR reports that talk about the year's "highlights and lowlights," such as new environmental projects and problems with worker safety.
"CSR is something which should be present in any company, and reporting is a tool that helps to do it better," said Tatyana Tropina, corporate social responsibility manager at BAT Russia.
"It means that we don't live separate from our environment, and it simplifies dialogue with stakeholders."
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