The report analyzed board committee charters at S&P 100
firms and found that only 65 companies in the S&P 100 have
board committees with some level of responsibility for oversight of
corporate responsibility concerns. One of the most notable
statistics from the study was the finding that less than 50% of
those 65 boards monitor and provide recommendations on CSR trends
Ultimately, this lack of focus on trends is troubling. Looking
at developments in the CSR field over the previous decades, it is
not hard to see that stakeholder expectations in the areas of
environmental and social standards have often lead to the
developments of new regulations, legislation, and lending
guidelines. As I noted in the article,
Understanding key trends is an
integral component of effective long-term strategy development and
can help ensure that companies have the capacity to respond to
concerns when they arise. Companies regularly seek to identify
trends in consumer preferences and in regulatory environments.
Companies should exercise the same diligence in identifying future
stakeholder expectations with regard to social and environmental
performance. Stakeholder expectations in the area of CSR frequently
ask companies to go "beyond compliance" with existing
legal and regulatory standards. At the same time, these
expectations are often predictive of the future content of legal
and regulatory requirements.
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The Department of Justice (DOJ) doubled-down on emphasizing corporate compliance programs with new guidance from the Criminal Division Fraud Section with the "Evaluation of Corporate Compliance Programs".
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