With the rising environmental costs, governments and regulatory bodies have stepped up the implementation of measures to encourage businesses and organizations to address sustainability issues, and achieve the triple bottom line of people, planet and profitability.
For the last few years, the number of businesses injecting sustainability and energy efficiency into their corporate agenda has dramatically increased. In a study conducted by Ernst & Young, environmental and social proposals increased by 30 percent in 2011, accounting for 40 percent of all shareholders' resolutions reaching proxy ballot. This is proof of the many tangible benefits that a comprehensive social impact management plan (SIMP) can bring for a company, foremost of which is reducing costs, managing risks, and higher ROI's.
However, balancing sustainability and financial profitability is still a dilemma for most organizations. James Donovan, President & CEO of FirstCarbon Solutions, presented valuable insights and expert knowledge on the impacts and benefits of effective SIMP's to participating companies during the 11th CSR Expo held at the SM Convention Center in Manila, Philippines.
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