Four out of five MPs believe the current corporate social responsibility practice of companies fails to meet society’s demands and more than three out of five think companies lack commitment to CSR, according to a PricewaterhouseCoopers report.
The research, The Politics of Responsible Business, shows MPs expect businesses to act responsibly towards all their stakeholders. They want businesses to be open and transparent and increase the disclosure on non-financial impacts of their business such as their ethical performance.
Meanwhile, three out of ten MPs favour companies producing verified reports on their social and environmental performance.
Patrick Figgis, a senior partner at PwC and UK management board member, said: ‘UK businesses may believe they are performing well in this area. It is clear MPs think differently.’
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