Last week, executives of many large public companies received a letter from Fink, stating that they not only made profits for their shareholders, but also backed by BlackRock. They also worked for social welfare:
“Society requires that public and private companies serve social ends, and over time, not only must each company deliver financial performance, but it also shows how it contributes positively to society.”
With the recent news of climate change, workplace culture and data security becoming headlines, we wanted to see how many companies are discussing CSR and Environmental Social Governance (ESG).
We conducted a quick search at Sentieo and referred to these topics in earnings call history, press releases, presentations and sustainability disclosures, and keyword references on Twitter.
Over the past 10 years, the concern of listed companies on the topic of “social welfare” has dramatically increased, reflecting the parallel jump on Twitter. We expect this trend to continue only in the coming years as companies such as BlackRock are becoming more and more commonplace and the company will look more closely at sustainability projects to increase the diversity of the workplace and give back to the community.
Some of the prominent companies that emerged in our search results have incorporated CSR into their plans for the future, including HAS, CSCO, and Herman Miller (MLHR).
We also use “Sentieo plotter” to refer to “corporate social responsibility” in the last decade (Cisco Documentation, Red), Cisco Share, and Twitter’s “Corporate Social Responsibility.” Over time, all three are steadily increasing.
As both consumers and investors place stricter demands on the way products and services are created and delivered, they require full transparency – the need for listed companies to conduct honest internal scrutiny of their social impact and how they impact their ability to succeed.