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Additional info for Environment And the Oecd Guidelines for Multinational Enterprises: Corporate Tools And Approaches
The 2001 report won the UK Social Reporting Award and was the joint winner of the UK Environmental Reporting Awards. According to Bank research, “ethically motivated customers” (that is, those who are attracted by the ecological and ethical branding) are likely to buy more than one financial service, to recommend the Bank, and to be more satisfied with the services they receive. Overall, the Bank estimated that its ethical and ecological policies drew one in three new customers in 2001, accounting for about 20% of profitability.
Org. 40 - ENVIRONMENT AND THE OECD GUIDELINES… – ISBN-92-64-00938-8 – © OECD 2005 2. PUBLIC INFORMATION AND STAKEHOLDER CONSULTATION Chapter V, Point 2 [Enterprises should] Taking into account concerns about cost, business confidentiality, and the protection of intellectual property rights: x Provide the public and employees with adequate and timely information on the potential environmental, health and safety impacts of the activities of the enterprise, which could include reporting on progress in improving environmental performance; and x Engage in adequate and timely communication and consultation with the communities directly affected by the environmental, health and safety policies of the enterprises and by their implementation.
In 42 - ENVIRONMENT AND THE OECD GUIDELINES… – ISBN-92-64-00938-8 – © OECD 2005 developing countries there may moreover be a need for capacity-building efforts to create appropriate platforms for stakeholder engagement. However, as evidenced by the upsurge in corporate environmental communication and consultation, companies have increasingly found it worthwhile to overcome these challenges. One reason is a trend in public expectations and government approaches. In some countries, informing the public is increasingly perceived as part of an enterprise’s social “licence to operate”.