Submission to the Inquiry into Corporate Responsibility and Triple-Bottom-Line Reporting

This submission provides case studies of corporate social responsibility (CSR) activities being undertaken by some Business Council of Australia members.

The submission highlights the fact that all member companies are currently engaged in some form of activity that falls within the above description of corporate social responsibility. Most (around 80 per cent) are also reporting publicly on their activities, through standalone reports, annual reports or websites.

The fact that Australia’s large corporations are already extensively involved in corporate social responsibility indicates that there are strong drivers already in place, without the need for government intervention.

The Business Council of Australia opposes any proposals to create positive duties on directors or officers, to mandate corporate social responsibility through legislation or to introduce reporting requirements beyond those already in place in the general law.

The existing drivers towards greater corporate social responsibility are identified in the survey as:

  • employee recruitment, motivation and retention
  • learning and innovation
  • reputation management
  • risk profile and risk management
  • competitiveness and market positioning
  • operational efficiency
  • investor relations and access to capital
  • licence to operate.

These are discussed in detail in the submission and examples from member companies are provided to illustrate how these drivers affect corporate activity.

Download the Business Council of Australia Submission to the Inquiry into Corporate Responsibility and Triple-Bottom-Line Reporting and the Appendix, ‘Case Studies on Corporate Responsibility and Triple-Bottom-Line Reporting’, here.