If you're reading this, you're part of the choir. You don't need convincing of the merits of CSR.
But you may encounter the occasional climate change denier or CSR-curmudgeon who just doesn't see the value of charting a sustainable business course.
For players in Ontario, the choir just got a whole lot louder, ringing out with the chorus of "Regulation!" This song is about to get harder for any business to ignore, to the delight of those already ahead of the regulators.
Last week, "the Ontario Legislature passed a motion calling on the Ontario Securities Commission (OSC) to review current corporate reporting standards and to produce recommendations for enhanced disclosure."
The motion passed unanimously, garnering support from all parties. It was compiled using input from a range of stakeholders to ensure it was as targeted and effective as possible. One of the stakeholders, Canadian Business for Social Responsibility's President & CEO, Adine Mees, had this to say: "The process of rigorous CSR reporting encourages improved sustainability performance. At the same time, it meets expanded stakeholder needs for transparency and evidence of genuine company CSR commitment."
There are still several steps to bring this motion into practice, and it remains to be seen if other provinces in Canada will follow suit. However the OSC is the largest of the provincial securities regulators, and changes to its disclosure regulations will surely have repercussions for corporations across the nation.
By Canadian Business for Social Responsibility