Corporate Responsibility Market Research for Nordic Countries

Enterprises have started to report about their sustainability related operations more and more often. By auditing the corporate responsibility (CR) reports they are adding the transparency and liability of their business for all of their stakeholders. Sustainability reporting increased 8 %, internal auditing grew by 65 % and Global Reporting Initiative guideline based reports skyrocketed by 285 % from 2007 to 2009 according to the Corporate Responsibility Market Research for Nordic countries. This study was executed as a thesis project for Tofuture Ltd during the spring 2010. Based on the survey results CR issues were regarded as a relevant part of the corporate strategy nowadays. Among environmental issues the social and economical business factors are also being engaged to the corporate management. CR reporting was mostly regarded as enhancing corporate image, adding competitive advantage and improving cooperation with stakeholders. The main reason why companies hadn't reported was due to the lack of resources. Remarkable was also that the companies reported about the issues which they found relevant and not just according to the minimum level standards of legislation.