A review of the sustainability products, services and programmes of the international best practice sustainability finance institutions and initiatives demonstrates some or all of the following characteristics:
COMMON THEMES
Embedding CSR: Many companies report on their governance and management systems and processes to embed CSR or sustainability throughout the company, including:
• Boardapproved mission and values statements that incorporate sustainability. Some FIs take the view that CSR will contribute to longterm shareholder value; others commit their organization to using financial services to contribute to sustainable development; and the sole purpose of a third group is to aid sustainability through finance.
• Establishment of CSR board committees and governance frameworks.
• Shift to thinking about CSR as a business strategy or opportunity. Many companies describe a process of moving away from a compliance and risk minimization orientation to identification of new business opportunities and win-win solutions that benefit the company and the environment/society.
• Designation of senior management responsibility for CSR, appointment of CSR staff, establishment of CSR units and cross-department CSR teams and working groups.
• CSR staff training and development of CSR awareness in leaders.
• Incorporating CSR into performance contracts, job descriptions and incentive pay.
• Secondment, including long-term secondment programs, and volunteering are used for employee personal and professional development and managed as an HR program.
• Publication of sustainability reports which report on the sustainability performance across entire operations, often following Global Reporting Initiative guidelines (the emergent international CSR reporting standard), with independent verification of reports and
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