Colorado’s Current Stats: Recycling rate of 17.2%., below national average of 35%.
- Ensuring enough materials are entering the recycling markets
- Building infrastructure to handle increased recycling
Colorado Advanced Legislation. 2 Bills to Interim Committee:
- Study how to use tax breaks to incentivize companies to convert recycled items into new products.
- Requires the state to create a proposal for statewide composting to improve soil quality.
Colorado Sun | Colorado is bad at Recycling, so lawmakers spent months looking for solutions. Here’s what they professed.
Brand Perception: CSR is now a key factor in brand value and the target’s overall brand.
Expectations: Customers, investors, and corporate buyers expect companies to take a visible stand on ESG issues.
Consumer Trends: Millennials and Gen Z represent $150 B of U.S. spending power. They focus their spending on companies that invest in social issues and correct the sustainability issues within the fashion industry.
Fashion’s Efforts: This August, 32 Fashion Brands (currently up to 150) including Adidas, Hermès, Prada, & Chanel pledged to reduce their environmental impact via the Fashion Pact. LVMH, a large fashion group pledged to ensure full traceability for animal products by 2025.
law.com | The Impact of Corporate Social Responsibility on Fashion Brands
Breakdown of Public Trust: Large companies rank among LEAST trusted institutions (think U.S. Congress), while small businesses rank among MOST trusted (only below the U.S. military).
Lack of Trust & Big Business: Without social license to operate large/multi-national companies risk consumer backlash & increased government regulations.
The Solution, Institutionalized CSR: Corporate citizenship provides large companies an avenue to prove they are like any citizen, and align their self-interest with the shared interests of society.
Big Companies & Big Data: With access to big data and ownership of individual/business platforms, large companies must serve society via catalyzing global-scale solutions to climate change and other social issues.
Project Syndicate | Corporate Citizens Must Become Global Catalysts
Of Note: 72% of people believe locally-owned businesses are more involved with their communities than large businesses.
The Small Business Advantage:
Small local business owners
- see first-hand the most acute problems facing their local communities
- listen to customer needs before taking action
- understand their specific political climate and choose causes important to their clientele
How Big Business can Adapt:
- Create organic, bottom-up community engagement programs
- Convey to consumers that the health of the community is part of corporate values
- Choose causes that unite rather than divide
Harvard Business Review | What Small Businesses Know about Corporate Social Responsibility
Who did the Report? Chief Executives for Corporate Purpose
- 33% volunteer participation
- higher volunteer engagement rates with flexible volunteer hours are reported by companies
- 20 hours PTO to volunteer is average among companies surveyed
- corporate social investments increased by $26 billion (11%) since 2016
- international giving up 10%
- employee donation matches down 7%
Companies who measure community and business impact had highest giving and volunteer hours.
CSR Wire | Corporate Giving Tops $26 Billion in 2018, Industry-leading Report Finds, up 11% Since 2016
Key Takeaway: Complete commitment to social purpose can result in extreme profitability due to the ‘obliquity principle’.
The ‘Obliquity Principle’: Explains that complex goals are best achieved indirectly. In business this translates to customers and employees feeling cared for, and caring for a business as a result.
How one company (Eisai) achieved profit with complete social commitment:
1. Shareholders voted to replace profit-maximation with social purpose in their by-laws
2. Eisai gives free drugs to WHO
3. Company maintains a market cap of $16.3B and 10,000 employees.
BRINK | Is Creating Social Value the Best Profit Strategy?
What to Provide: Non-partisan info on policy issues and elections
What it Means to Employees:
- Employees view employers as a creditable source of policy info
- 64% were more likely to vote
- 72% consider themselves more informed voters and citizens
- 72% believe their company cares about their community and is a good corporate citizen
- 70% would recommend their company as a place to work to a friend or family member
- 62% believe that that information fosters a stronger employer-employee relationship
- 57% believe that that information increased their understanding of the company’s mission and values
- 20% contacted a legislator based on info provided
Key Takeaway: 67% of employees want their employer to promote policies that are favorable to their industry and jobs. When provided with unbiased info on legislation, employees will vote to support their industry as well.
The Hill | The Business Case for Employer to Employee Engagement