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Corporate responsibility – the facts

the industry...

Reporting

*The number of companies reporting on their Corporate Responsibility activities has shot up in recent years, which at least demonstrates its growth in popularity as a PR tool.*



the reality...

Tax avoidance

*Corporations may be boasting about their social responsibility like never before, but their financial contribution to society in the form of taxes has plummeted.*

Profits and pay

Corporate profits in 2006 and 2007 were the highest on record. Pay for top executives in May 2007 was around *double what they earned 10 years ago*.^9^

  1. Ethical Investment Research Association, ‘The state of responsible business: global corporate response to environmental, social and governance challenges’, September 2007, www.eiris.org
  2. Ernst & Young, ‘Corporate Social Responsibility: a survey of global companies’, 2002, www.ey.com
  3. Econtext, ‘Reporting in Context: Global Corporate Responsibility Reporting Trends 2006’, www.econtext.co.uk
  4. KPMG, ‘KPMG International Survey of Corporate Responsibility Reporting 2005’, www.kpmg.com
  5. Andrew Murray-Watson, ‘Give us all the super-wealthy’s tax breaks’, _The Independent_, 2 September 2007; Richard Murphy, ‘Mind the Gap’, 2006, www.taxjustice.net
  6. International Confederation of Free Trade Unions, ‘Having their cake and eating it too: the Big Corporate Tax Break’, July 2006, www.icftu.org
  7. War on Want, ‘Tax havens and tax companies: one rule for the poor, no rules for the rich’, 2003, www.waronwant.org/taxdodge; Oxfam Great Britain, ‘Tax havens: releasing the hidden billions for poverty eradication’, 2000, www.oxfam.org.uk
  8. Institute for Policy Studies/United for a Fair Economy, ‘Executive Excess 2007: The staggering social cost of US business leadership’, August 2007, www.ips-dc.org
  9. Economic Research Institute and careerjournal.com, ‘May 2007 Executive Compensation Study’, www.erieri.com
  10. Julia French and Simon Bowers, ‘Directors’ earnings break through the £1bn barrier’, _The Guardian_, 29 August 2007.

Additional research by *Silje Vold*.

New Internationalist issue 407 magazine cover This article is from the December 2007 issue of New Internationalist.
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