Globe Forum assessed a total of 67 Swedish listed companies on the LargeCap list with regard to work with CSR and the Volvo Group was ranked second with 38 points of a possible 40. The average score in the survey was 19. The assessment was based on an analysis of the information provided on the companies’ websites. Among other aspects, the link to the environment, sustainable development and CSR in overall strategies, vision, mission and core values were analyzed. Globe Forum also investigated whether the companies had an expressed responsibility for the environment, sustainable development and CSR in their Code of Conduct or similar policies.
The Volvo Group’s ranking at Globe Forum also resulted in a nomination for the Globe Award, which will be presented in Stockholm on May 7 in conjunction with Globe Forum 2008 conference. The Globe Award is being presented this year for the second time to the Swedish companies and organizations that have advanced the farthest in integrating CSR in their operations.
“Our work with CSR reflects that as a major international company we assume social responsibility for the aspects we can influence. Through complying with our Code of Conduct, which contains 13 principles, we receive correct business conduct,” says Malin Ripa, coordinator of the work with CSR within the Volvo Group.
“The fact that CSR efforts influence market value is being understood by a growing number of investors. With the good CSR rating that the nominated companies have, they are better equipped to meet the future,” says jury member Lars-Olle Larsson, specialist auditor at Öhrlings PriceWaterhouseCoopers.
In the other survey, the 2007 Folksam Index for corporate responsibility, the Volvo Group placed third among the top-ten companies in the highest environmental rating category. In the list for human rights, the Volvo Group was a new addition to the top-ten list at seventh place. The Volvo Group also received the recognition “Best in Industry” for human rights. The recognition cited that “Volvo holds a level above the average in social readiness. The company has well-developed policies for human rights in the supplier channel and the relations with employees appear to be managed well.”
A total of 272 companies registered on the OMX Stockholm’s LargeCap, MidCap and SmallCap lists were included in Folksam’s survey.
More information about Globe Forum is available at http://www.gfbn.com/.