Explore the added value of CSR Reporting

With the development of social responsibility, more and more enterprises has realized that social responsibility is an important element of enterprise management and CSR reporting is one links of the management process. The end is the next beginning for CSR reporting preparation.
Therefore, enterprises should integrate social responsible management philosophy into CSR reporting preparation to transfer CSR reporting to strategy implementation so as to realize the performance target.
The Parallel forum I: Value Exploration of CSR Reporting in the 9th International Conference on CSR Reporting in China held in Pudong District of Shanghai on December 1, 2016, invited Chinese and multinational enterprise representatives and CSR expert to discuss how to integrate social responsible philosophy into CSR reporting preparation to diagnose and assess the corporate management and find out new improvement opportunities.
Ms. Ma Lihong, Deputy General Manager of Corporate Strategy Research Department, China Potevio Co., Ltd.
“Based on China Potevio’s experience of CSR reporting preparation, the process of social responsibility fulfillment can be concluded as three-in-one mode. Firstly, as profit organizations, enterprises should possess an elite concept and a sense of responsibility beyond business appeal. Secondly, as social organizations, the key for social responsibility fulfillment is to propose a sustainable business model to solve major social problems. Thirdly, as intra-industrial organizations, enterprises should build an industrial eco-system which involves all stakeholders to realize the coordinated development of the industrial chain.”
Mr. Wu Fushun, CSR Director, Mengniu Dairy (Group) Co., Ltd.
“While preparing social responsibility reports, enterprises should have a deep insight into the social focuses in their operation. For instance, Mengniu Dairy should focus on the public’s concern with the safety of dairy products. This is our entry point to implement a CSR project. Therefore, we establish University of Ranchers. Through communications with ranchers and industrial stakeholders, we form a project mechanism that can manage inside and outside affairs to solve the quality problem of dairy product as well as to promote the public’s confidence in the domestic dairy industry.”
Ms. Fadima Zhou, Director of Brands and Public Relations Department, Corporate Spokesman in Fosun Pharma
“We don’t want to make the CSR report a superficial propaganda film for the system. It is actually a sustainable work. The content of a CSR report not only presents a company’s financial data precisely, but also reflects the company’s responsibility performance in the field of sustainable development. In order to satisfy the document requirements of CSR reports, we set up CSR report leading groups and working groups to guarantee the quality and level of the reports from system and mechanism.”
Ms. Wang Aiqiang, CSR Director, Panasonic Corporation of China
“During CSR reporting preparation, we pay attention to the involvement and cooperation with business departments. CSR reports are not only an advertising medium for us, but also an internal management tender. We assess all departments by   comparing all the core indexes of each department with that of the last year, thus improving the work and performance of business departments and realizing the reports’ function in facilitating management.”
Mr. Lucas Jonsson, Partner at Mannheimer Swartling
“As the largest law office in Northern Europe, we have kept publishing our own CSR reports for many years. We think we should hold an active and honest attitude while publishing CSR reports. We should present both our advantages and disadvantages to our clients, communities and business partners openly. Although the disclosure of negative information will influence the company’s fame, it will also bring many opportunities, which is actually a good way of marketing.”

Main conclusions

I. CSR reports facilitate business management. The CSR fulfillment requires the leadership from the strategic level of a company, and the communication and coordination from the outside and inside, the superior and the subordinate and the different departments. The defects and deficiencies in the company’s management are revealed in CSR reporting preparation, which helps to diagnose the company’s management and provides suggestions for improvement.
II. CSR reports should present the company’s core business. The value and significance of a CSR report lies in disclosing the company’s business information, especially core business information. Even though the published information may exert a negative influence on the company, the report should be complete and substantial.
III. CSR reports possess both business value and social value. On the one hand, the value of CSR reports is reflected in its business value. CSR management is a new concept and a new way to promote the company’s business growth. On the other hand, the value of CSR reports is embodied in its social value and its attention to low-carbon and green needs, which is the community for a win-win situation.