SIGLA

Sigla

Ethics and corporate responsibility are often reduced to narrow concepts about what is right and wrong and what should be expected from a company from a moral perspective. For SIGLA, it is about the connection between bottom line and responsibility. It is about how global challenges such as development, poverty, environment and corruption impact a company and how these can be managed profitably and responsibly.

Dictionary

Many terms are used when discussing corporate responsibility. The following are definitions of some of them:

  • CSR Corporate social responsibility is how a company views and works with issues such as development, poverty, environment and corruption with a long-term perspective that includes both profitability and responsibility.
  • Ethical guidelines / policies A mechanism to ensure that a company and its employees work in line with company values, customer expectations and legal frameworks.
  • WBCSD World Business Council for Sustainable Development is an international organization of leaders from 200 companies. The Council facilitates transfer of knowledge, experience and good practices within sustainability.
  • Sustainable development Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
  • Sustainability report (or CSR report) A report that describes a company's values, key areas in ethics and corporate responsibility and what the company does to contribute to sustainable development.
  • Triple bottom line Reporting on three dimensions; economic, environmental and social. The word bottom line is used when measuring profit or loss. Historically, bottom lines have only been economic. The triple bottom line is an attempt to measure profit and loss also in environmental and social terms.
  • GRI: Global Reporting Initiative An organisation working for comparability and accountability of corporate responsibility reporting. Provides guidelines on what is to be reported and how.
  • Global Compact The UN initiative for corporate responsibility. Companies may voluntarily sign ten principles on human rights, labour rights, environment and corruption, committing themselves to integrating these in their business and reporting on progress.
  • Stakeholders Groups or individuals impacted by or with the power to impact a company's activities and reputation. Includes shareholders, employees, customers, suppliers, government, civil society and media.

Would you like to know more about corporate responsibility in practice? Get in touch!