Insight of the Week: Corporate Affairs Roles Are Increasingly Focused on Social Context for Business
Considering how the context within which the Corporate Affairs function has changed in recent years, Corporate Affairs professionals report that capturing the social context within which business operates has grown in prominence compared to three years ago. Other activities that are increasing in prominence are addressing climate risk and an increasing focus on good internal communications. This suggests that the Corporate Affairs function is evolving to better address sustainability and ESG issues as a part of daily activities. Source: Oxford-GlobeScan … “Insight of the Week: Corporate Affairs Roles Are Increasingly Focused on Social Context for Business”
In a world where broad-based social movements are progressively mobilising around issues such as diversity, inclusion, equality, and corruption, Corporate Affairs professionals are increasingly recognising the impact of political populism and the growing polarisation and instability that it brings. The uncertainty it introduces is seen as a rising concern. Since 2020, these risks have grown, with nearly half of Corporate Affairs professionals expressing this as a risk to business, up significantly from last year. Source: Oxford-GlobeScan Global Corporate Affairs … “Insight of the Week: Political Populism and Polarisation Is Increasingly Seen to Be a Risk to Business”
Unilever, Anglo American, Apple, BP, and Nestlé are viewed as being the leaders in Corporate Affairs according to the 2022 Oxford-GlobeScan Global Corporate Affairs Survey. The Corporate Affairs function plays a strong role as a convenor working with stakeholders inside and outside of the company. Along with the role being well integrated across an organization, stakeholders point to managing business risk, having a clear purpose, a coherent narrative, and stakeholder engagement as key factors for being a recognized leader in Corporate Affairs. Source: Oxford-GlobeScan Global … “Insight of the Week: Top Ten Corporate Affairs Leaders”
The perceived urgency of climate change has risen steadily in the past decade, with sustainability experts today almost unanimously calling climate change an urgent issue. As climate concern grows, so do expectations for companies and brands to focus on delivering impact, not only on their own performance but also for the broader sustainability agenda. Source: GlobeScan/SustainAbility Institute by ERM Survey of over 700 experts representing business, government, NGOs, and academia across 73 countries
As companies communicate more about environmental and social topics, they also face scrutiny about their actions and impacts. Where there is a perceived disconnect between statements of intent and actual activities, accusations of greenwashing soon follow. According to Corporate Affairs professionals, just over one in five organizations have been accused of greenwashing in the past. This is particularly common among respondents in Europe (32%) and the consumer products/retail sectors (41%). Source: Oxford-GlobeScan Global Corporate Affairs Survey 2022, n=221, 2022
Considering how the war in Ukraine will affect sustainability in the long term, experts are most likely to say it will accelerate the use of renewable energy. However, many also acknowledge that it may be a distraction in the short term, and some believe that it will draw attention and resources from the sustainable development agenda in the longer term. Source: GlobeScan/SustainAbility Institute by ERM Survey of over 700 experts representing business, government, NGOs, and academia across 73 countries
Compared with five years ago, sustainability experts today are more likely to say that national governments, the private sector, and multi-sector partnerships should drive sustainable development. As pressure grows on these groups, experts are also less likely to expect leadership from The United Nations. Following The United Nations’ launch of the Sustainable Development Goals in 2015, experts may now be looking to national governments and business to implement the sustainability agenda. Source: GlobeScan/SustainAbility Institute by ERM Survey of over 700 … “Insight of the Week: Growing Expectations for National Governments to Lead on Sustainable Development in Coming Decades”
Along with integration, experts are increasingly looking for evidence of impacts and actions when it comes to corporate sustainability leadership. Compared with four years ago, experts are more likely to recognize companies as sustainability leaders because they share impactful results of their sustainability initiatives. While purpose and goals remain important, growing attention to greenwashing means that claims need to be reinforced with tangible results. Source: GlobeScan/SustainAbility Institute by ERM Survey of over 700 experts representing business, government, NGOs, and academia … “Insight of the Week: Integration and Impact Are Key Indicators of Recognized Corporate Sustainability Leadership”
Across all sectors and geographies, sustainability experts are most likely to name World Wildlife Fund (WWF) as the leading NGO for advancing sustainable development. Overall, mentions of NGOs have declined in recent years, which could indicate an expectation that these organizations should be doing more to mobilize efforts on sustainable development. Source: GlobeScan/SustainAbility Survey of over 700 experts representing business, government, NGOs, and academia across 73 countries
Three in ten sustainability experts name Unilever as sustainability leader, followed by Patagonia. These companies have maintained their leadership positions over the last decade, with other companies increasingly being recognized for their sustainability efforts. Microsoft makes the top five for the first time, behind Natura &Co and IKEA. Source: GlobeScan/SustainAbility Survey of over 700 experts representing business, government, NGOs, and academia across 73 countries