Redefining Value : The Future of Corporate Sustainability Ratings

Corporate sustainability ratings are a potentially powerful but still underused tool for building a competitive, socially purposeful, and financially sound enterprise. In a globalizing world replete with business opportunities and risk, corporate b...

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Bibliographic Details
Main Author:	White, Allen L
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTING ACCOUNTING STANDARDS ASSET MANAGERS AUDITS BEST PRACTICES BOND BUSINESS MODEL BUSINESS OPPORTUNITIES BUSINESS SECTORS BUSINESSES CAPACITY BUILDING CAPITAL MARKETS CARBON DISCLOSURE CARBON EMISSIONS CEO COMPANY COMPANY BEHAVIOR COMPETITIVE MARKET COMPETITIVENESS CONFLICTS OF INTEREST CONGLOMERATE COOPERATIVES COPYRIGHT CORPORATE BOARDS CORPORATE DIRECTORS CORPORATE DISCLOSURE CORPORATE EXECUTIVES CORPORATE GOVERNANCE REFORMS CORPORATE SOCIAL RESPONSIBILITY CORPORATE STRATEGY CORPORATE SUSTAINABILITY CORPORATION CORPORATIONS CREDIBILITY CREDIT RATING CREDIT RATING AGENCIES CUSTOMIZATION DERIVATIVE DEVELOPING COUNTRIES DEVELOPMENT BANK EMERGING ECONOMIES EMERGING MARKETS ENVIRONMENTAL MANAGEMENT FIDUCIARY DUTIES FIDUCIARY DUTY FINANCE CORPORATION FINANCIAL CAPITAL FINANCIAL MARKETS FINANCIAL METRICS FINANCIAL PERFORMANCE FINANCIAL REPORTS FINANCIAL STATEMENTS FINANCIAL STRUCTURE FIRMS FIXED INCOME GLOBAL COMPACT GLOBAL CORPORATE GOVERNANCE GLOBAL ECONOMY GLOBAL SUPPLY CHAINS GOLD STANDARD GOOD GOVERNANCE GOVERNANCE PRACTICES HOLDING HOLDING COMPANIES HUMAN CAPITAL HUMAN RIGHTS INDIVIDUALS INFORMATION DISCLOSURE INNOVATION INSTITUTIONAL INVESTORS INSTRUMENT INTANGIBLE INTANGIBLE ASSETS INTELLECTUAL CAPITAL INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL CORPORATE GOVERNANCE INTERNATIONAL FINANCE INTERNATIONAL LABOUR ORGANIZATION INVESTING INVESTMENT DECISIONS INVESTMENT RATING IPO LABOR MARKETS LACK OF TRANSPARENCY LEGAL SYSTEMS LICENSES LIMITED LOCAL INSTITUTIONS MANAGEMENT SYSTEMS MANAGERS MATERIAL MATURITY NATURAL CAPITAL NEWSLETTER NONGOVERNMENTAL ORGANIZATIONS PENSION PENSION FUNDS PERFORMANCE INDICATORS PORTFOLIO PORTFOLIO MANAGEMENT PORTFOLIOS PRIVATE SECTOR PROCUREMENT PROPRIETARY QUERIES REGULATORS REPUTATION RETURN SECURITIES SHAREHOLDER SHAREHOLDER VALUE SOCIAL CAPITAL SOCIAL ENTERPRISES SOCIAL INDEX SOCIAL INVESTMENT SOCIAL MISSION SOCIAL NETWORKS SOCIAL PERFORMANCE SOCIALLY RESPONSIBLE INVESTMENT SOCIETY SPONSORS STAKEHOLDER STAKEHOLDERS STANDARDIZATION STOCK EXCHANGES STOCK MARKET STORE SUBSIDIARY SUPPLIERS SUSTAINABILITY INDEX SUSTAINABLE DEVELOPMENT TARGET COMPANIES TECHNOLOGICAL ADVANCES TELEPHONE TRANSPARENCY TRUSTS USER USER GROUPS USERS VALUE CHAIN VERIFICATION VOLATILITY WEALTH CREATION
Online Access:	http://documents.worldbank.org/curated/en/2013/01/17630274/redefining-value-future-corporate-sustainability-ratings http://hdl.handle.net/10986/17040

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Summary:	Corporate sustainability ratings are a potentially powerful but still underused tool for building a competitive, socially purposeful, and financially sound enterprise. In a globalizing world replete with business opportunities and risk, corporate boards continually need to reappraise what constitutes good governance. Traditional board duties pertaining to strategic oversight, executive compensation, and financial auditing will remain integral for the foreseeable future. But these alone will not suffice in a time when the prosperity of companies is inextricably linked to issues such as reputation, brands, supply chain management, quality and quantity of human and intellectual capital, protection of human and labor rights, and climate change. Such emergent issues are part of a historical moment in which the role of companies in fostering societal and ecological well-being at the global, national, and local levels is under increasing scrutiny. These are conditions that fuel intensifying public discourse concerning corporate social responsibility, sustainable capitalism, shared value creation, and other linked concepts that challenge the conventional wisdom that positions shareholder value as the paramount measure of company success. Indeed, sustainability is not new to the two common definitions of corporate governance: (i) the actual behavioral patterns of corporations in terms of efficiency, growth, financial structure, and other attributes; and (ii) the normative framework within which firms operate in terms of legal systems, financial markets, and labor markets.

Redefining Value : The Future of Corporate Sustainability Ratings

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