Compiled by ACCP Staff
The corporate social impact field is quickly evolving as corporations navigate a challenging economy, competition for talent, increased interest in and criticism of ESG, and rising expectations from key stakeholders for corporations to be good corporate citizens.
We recently asked the ACCP community to share their predictions with us on what 2023 will look like in CSR. Will corporate community investment go up or down? Will 2023 be the year companies invest in more CSR staff or cut back? How will companies maintain trust among their key stakeholders in a potential recession?
Below is a summary of common themes we heard in the submissions:
Economy:
- The economy will be turbulent into the first half of 2023.
- There will be continued transparency demands from key stakeholders.
Budget & Staffing:
- Continuation of burnout of CSR professionals, leading to career exploration and staff turnover.
- Interest in diversifying the CSR profession but lacking corporate leadership commitment to expand headcount for CSR teams.
- CSR staff will need to fully understand their company’s business model and drivers.
- A heightened interest from new graduates to join the field, but with limited entry-level opportunities
- Continuation of the trend of CSR reporting to ESG officers.
- CSR teams will need to show impact data to justify or secure their budgets.
ESG:
- As investors and consumers continue to prefer businesses with the right environmental and social credentials, companies in 2023 will need to make sure their ESG processes are moved to the center of their strategy.
- A greater demand for ESG alignment across departments.
- Increased headcount for environmental sustainability and ESG reporting.
- New approaches to ESG and ESG reporting to enable companies and their stakeholders to measure, make decisions, and act based on positive impact and outcomes.
- ESG will continue to be the global focus with more scrutiny around “green washing”.
- Increasing pressure to address climate change
- More scrutiny over ESG-related claims requiring more effort and resources spent on verification and disclosure
Talent:
- Talent will continue to be a focal point for corporations while also expecting a lot from employees.
- CSR will continue to be an essential ingredient for culture and purpose that can be a boon for the recruitment, engagement, and retention of employees.
- We will see more companies engaging their employees, community advisory boards, ERGs, and even customers and beneficiaries in the design, implementation, and administration of their grants.
- Board involvement, pro-bono, and virtual volunteering will continue to be important ways to engage employees, despite the return to in-person volunteer opportunities.
Diversity, Equity & Inclusion:
- DEI will become increasingly democratized, empowering employees to bring their lived experiences to work and help shape corporate DEI policies.
- A focus on equity will continue related to giving strategies, internal DEI, climate considerations, and more.
Thank you to those who submitted their predictions. We appreciate the insights and contributions and look forward to seeing what 2023 has to offer in the CSR and ESG fields. Regardless of what happens, ACCP is here as a strategic partner to help you be a catalyst for change within your companies and communities.
Not yet an ACCP member? Visit our website for more information about the benefits of membership and how to join ACCP’s generous community of corporate social impact practitioners.
