CorpComms Magazine

America's largest pension fund CalPERS has teamed up with Nike and Ceres, the US association promoting sustainable business and investment, to urge the long-term business case for sustainable corporate practice.

The group of investors, businesses and social enterprises is appealing to 1,000 leading US firms to embed sustainability in day-to-day practice across their global supply chains. 

Social and environmental factors are increasingly hitting companies where it hurts - on the bottom line. High-profile corporate responsibility blunders such as BP's Deepwater Horizon oil spill have dramatically affected companies' share price and, as a result, many firms are pursuing a defensive line with sustainability concerns, focusing on risk management and damage limitation. 

This coalition is urging companies to think longer-term and embrace socially and environmentally responsible practice as an opportunity and take it to the heart of their business to ensure sustained economic growth. 

Mindy Lubber, president of Ceres, said: 'Companies aren't prioritising environmental and social factors across all of their operations. Short-term profit and myopic attitudes on long-term risk and opportunity still rule the day. These attitudes and practices need to change — not just among companies, but investors, too.'

The association will reach out to leading companies via letters, forums and roundtables to be held across the US.  

Anne Stausboll, chief executive of the California Public Employees' Retirement System, said: 'We expect our portfolio companies to do what is necessary to position themselves to be successful in a sustainable economy. Environmental and other sustainability issues are core to business performance in the 21st century.'

share me: del.icio.us | digg | reddit | Tweet