–WOW– to be honest, I am not sure we have firms like this in Canada, but the Vigeo Group are, in essence, THE Corporate Social Responsibility (CSR) police in France.
Vigeo examined ~ 1,500 European, American and Asian companies with regards to:
- Human Rights
- Human Resources
- Business Behaviour
- Corporate Governance
- Community Involvment
I L I K E.
Offering services similar to that of traditional accounting firms, The Vigeo Group performs CSR audits and provides feedback to firms about the extent to which they are fulfilling their social promises.
But what gives?
One reason companies, administrations and the territorial bodies subject themselves to such examination is that a CSR performance audit “helps in the strategic piloting and control of social, environmental and governance risks.” Basically, it helps firms protect against the element of “surprise” government regulation.
Other benefits resulting from a Vigeo Audit include: (source: Vigeo Website)
- Identify your enforceable social responsibility objectives;
- Identify your risk factors and levers of performance;
- Clarify your principles and the vision of your responsibilities;
- Capture the weak signals of your social and competitive environment, anticipate your risks, reinforce your performance factors;
- Ensure the relevance of your operational objectives and managerial choices.
- Check the effectiveness of your managerial processes to achieve continual improvement.
- Prove that “actions speak louder than words” by communicating on the basis of tangible facts.
Lastly, Vigeo provides a ranking which helps investors determine if subject firms are a good Socially Responsible Investment (SRI). (to serve the growing interest in “green” investing)
Curious about your investments now? Search for SRI Funds here.
That is all. RT