Survey of 125 Corporations Conducted by ACCP and YourCause® from Blackbaud® Finds Environmental Sustainability as the Top Social Priority Area for Companies for Second Consecutive Year
FAIRFAX, VA & CHARLESTON, SC – A new, far-reaching survey of social impact professionals
at 125 major corporations responsible for nearly $1 billion in community investments released earlier this month by Association of Corporate Citizenship Professionals (ACCP) and Your Cause® from Blackbaud® found that 50% of ESG and CSR professionals still remain unclear about what implications the SEC ruling on climate reporting will have on their company. The ESG and CSR professionals surveyed are members of ACCP and are typically responsible for carrying out this reporting work on behalf of their company.
The survey results also showed that for the second consecutive year, environmental sustainability is a top priority social issue for purpose-driven companies. The top three priority social issues in this year’s survey included environmental sustainability (50%), followed by job training/workforce development (50%), and K-12 education (47%).
“There is significant uncertainty among CSR and ESG professionals about the exact implications of the new SEC ruling released earlier this year,” said ACCP President and CEO Carolyn Berkowitz. “That said, ESG reporting is not going away and is a reality for an increasing number of companies. It’s critical that corporate social impact professionals have a strong understanding of the ESG-related reporting requirements in the jurisdictions where they operate, as well as the social impact metrics that are most material to their business.”
Additionally, the survey revealed that respondents report an increase in resources allocated to ESG reporting (21%) and investments in ESG reporting technology (14%). As reporting requirements continue to be the focus of regulators, companies are preparing to meet existing and future rules.
“As new regulations are rolled out and put into place, it is critical that companies resource reporting and compliance, as well as meaningful social impact initiatives. One cannot be resourced at the expense of the other. Environmental sustainability is not just a regulatory issue; it’s an increasingly important social issue that is material to most businesses and company stakeholders,” concluded Berkowitz.
The survey was conducted in April 2024 by ACCP and YourCause from Blackbaud. It provides unique insight from professionals on the frontlines of carrying out corporate social impact programs at many of the world’s major employers, offering a first-hand perspective on the effects of intense political and legal debates on corporate citizenship.
Full survey results and topline data illustrations can be viewed here.
A briefer on key toplines from the survey is included, below.
2024 CSR Insights Survey: Top Six Takeaways
1. The demand to measure impact continues to increase, but more budget, staff experience, and updated technology are needed. There is also increased exposure to the C-suite regarding CSR, ESG and DEI efforts, while commitment to those areas has remained the same or increased. Overall, the C-suite is committed to the work – but still wants to see the hard data.
- Increased demand to measure impact continues to grow, as 71% are experiencing this, compared to 53% in 2023.
- The number of respondents with increased exposure to the C-suite continues steady at 49%, compared to 51% last year.
- The number of respondents who need more focus or buy-in from senior leadership dropped by 12% over last year.
- However, 28% of respondents said they need more staff with impact measurement experience to meet current demands and expectations.
2. There is significant uncertainty around the implications of the SEC ruling on climate reporting for companies.
- Fifty percent of respondents remain unclear on the implications of the SEC announcement on climate change reporting requirements.
- Thirty-five percent of respondents have allocated more resources to ESG reporting or reporting technology with the new ruling.
3. The level of corporate commitment to DEI has not wavered, although the language being used, and legal/compliance oversight have changed.
- Eighty-three percent of respondents said their company leadership’s commitment to DEI has remained the same this past year, while 13% say it has increased.
- With the current political, legal and news environment, 31% of respondents have seen a change in the language (31%) their companies use and the amount they talk externally (17%) about DEI.
- Another 33% have seen additional oversight or legal review of DEI-related initiatives.
- Twenty-five percent of respondents are either very concerned or concerned about the SCOTUS Affirmative Action ruling, compared to 34% in the ACCP Pulse Survey in the fall of 2023. However, there was a shift in those somewhat concerned as it increased to 40% from 31%.
4. Leveraging new technology is becoming increasingly important in implementing and reporting the impact of corporate social impact work.
- Corporate social impact professionals see a variety of ways AI can help with their work, from better data analysis and aggregation (49%) to better communications (24%) and better storytelling (12%). However, 12% are unsure or unclear on how to use AI in their work.
- Twenty-six percent of respondents have implemented a new technology solution in the past 12 months, and another 19% are discussing or laying the groundwork for new technology.
- Fourteen percent of respondents have invested in ESG reporting technology because of increased reporting regulations.
- Thirty-one percent of respondents say they need improved technology to meet their team’s demands and expectations.
5. There is a continued increase in the importance of and participation in employee volunteerism.
- Seventy-seven percent of respondents have seen increased participation in volunteerism overall, compared to 61% in 2023.
- Eighty-eight percent of respondents said their employee engagement budgets increased or remained the same, compared to 70% in 2023.
- Twenty-two percent of respondents said they have seen increased expectations from employees to have a voice in CSR decisions in their companies, compared to 18% in 2023.
6. CSR teams and leaders are gradually becoming more diverse.
- Twenty percent of respondents indicated their staff was 50% or more black, indigenous, or other people of color (BIPOC), compared to 13% last year. The number of respondents whose teams were 50-74% BIPOC also increased by five percent from 2023.
- The percentage of respondents who said their team leader was a BIPOC woman increased by 5% over 2023.
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The Association of Corporate Citizenship Professionals (ACCP) is the preeminent membership organization advancing the practice of corporate social impact. ACCP increases the effectiveness of CSR & ESG professionals and their companies by sharing knowledge, fostering solutions, and cultivating inclusive and supportive peer communities. ACCP amplifies the voices of its practitioner network to elevate strategies that work, provide innovative solutions, and expand impact.
