CSR Minute: Clinton Global Initiative Scores $6B; Covalence Ranks Ethical Performance of Multinationals

Published on September 27th, 2010 | by

The CSR Minute is 3BL Media’s daily video digest of the most relevant and timely CSR and Sustainability content all in about a minute. The 3BL Media team tracks the expanding world of corporate social responsibility to bring you coverage of the most important announcements, initiatives, issues, trends, ideas, and breaking news.

Former President Bill Clinton collected a record 291 pledges worth more than $6 billion to tackle world problems at his sixth annual Clinton Global Initiative summit, which ended last Thursday. The total amount of CGI pledges for economic empowerment, education, environment, energy, and health was $3 billion less than 2009, but in previous years one or two very large commitments have represented a disproportionate share of the whole. Since 2005, nearly 2,000 commitments have been made at CGI, valued at $63 billion.

The Swiss research firm Covalence has published its annual ranking of the overall ethical performance of multinational corporations. The top three highest-rated companies are IBM, Intel, and HSBC. Leading the lowest-rated is Monsanto. For its ethics index, Covalence has studied 581 companies in 18 sectors for the last seven years, with data based on 45 criteria that includes labor standards, waste management, and human rights records. As a reputation index, the Covalence survey also incorporates media, industry, and NGO documents in its evaluation.

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About the Author

With more than 10 years experience working for a major Fortune 500 company, Cindy specializes in socially and environmentally responsible business strategies. She has developed successful corporate communications and stakeholder engagement strategies on contentious sustainability issues and has worked with a number of NGOs and activist organizations on how to effectively partner with multinational companies. Cindy frequently writes about topics ranging from what is corporate social responsibility to sustainable supply chain and measuring a company's environmental impact. She believes business plays a vital role in the health of our communities and our planet.