Corporate Responsibility + Web 2.0 = Sustainability 2.0
I’ve read a lot of reports recently on the new concept of “Sustainability 2.0” or “Accountability 2.0”, referring to the “Intersection of Corporate Responsibility and Web 2.0”. As the collaborative platform dedicated to connecting sustainability leaders, Wizness is exactly at this intersection. I believe that more and more companies will use social media and social networking tools to present their corporate responsibility, broadcast their sustainability reports and above all, engage with their stakeholders.
Sustainable Life Media has published a study on the Current Trends at the Confluence of Social Media and CSR. Based on a survey conducted with 50 global companies defined as sustainability leaders in their industries, and based on 45 interviews with sustainability executives and experts, the study highlights that “the more advanced a company is with the integration of social media and CSR, the more authentic that company’s communications become”.
The main key findings are:
• Coca-Cola, Pepsi-Co, Dell, Starbucks and Toyota are the first companies to “have unearthed the enormous potential” of Sustainability 2.0.
• 76% of Sustainability professionals interviewed believe that their investment in sustainability-themed social media will help gain market-share, increase the size of the overall market, or, ideally, both.
• The confluence of social media and Sustainability is supercharging business performance in three core Sustainability functions: Reporting & Compliance, Stakeholders Engagement and Operational Efficiency.
• Companies have been able to increase internal recognition of their Sustainability goals, on average, by 10-15% through the use of Facebook, Twitter and YouTube.
Other reports have explored the new trend of Sustainability and Social Media interaction: the SMI Social Media and Sustainability Index, the “first-ever ranking of how the world’s largest companies communicate their CSR initiatives via social media” and the Accountability Web, Weaving Corporate Accountability and Interactive Technology.
Thought leaders are strengthening these reports’ findings: CEO Brian Dunn uses social media to push CSR at Best Buy, Tom Raftery recently rebranded his blog on Social Sustainability and Bradley Short gives tips on how to monitor companies’ green cred on social media. The Guardian “Sustainable Business” even organized a live Q&A on using social media to communicate Sustainability. They all seem to come to the same conclusion: Sustainability 2.0 is the future of CSR reporting and stakeholders engagement!
Do you know other examples of companies already using social media to communicate about their Corporate Responsibility? What feature would you like to see on Wizness to help you report your Corporate Responsibility and engage with your stakeholders?