Corporate Responsibility
Candela Solutions works with companies in assessing risks and building a Corporate Responsibility program through a multi-disciplined team of financial, legal, environmental and operational people. Designing and implementing a Corporate Responsibility (CR) strategy is a multi-step process. Candela Solutions' methodology includes a matrix to measure performance derived from the internationally recognized standards of the Global Reporting Initiative and the AA1000 Assurance Standard Series. Our tiered approach addresses the following areas:
Holistic Approach
Corporate Responsibility issues are making headlines as investor and other stakeholder demands for more transparency, accountability and action. Indices such as the Dow Jones Sustainability Index (DJSI) and the Corporate Responsibility Index are providing in depth public evaluations of a company's performance and tangible benchmarking opportunities. Companies are being challenged on their assumptions and disclosures in their sustainability reports.
Companies that institute comprehensive CR programs create value through a stronger public image, greater customer loyalty, reduced employee turnover and more favorable capital options. These companies develop holistic programs which integrate corporate social responsibility of boardroom activities, enterprise risk assessment, compliance and corporate governance initiatives, all in a cohesive package. Simply put, Corporate Responsibility is a business process that manages risks and seizes opportunities deriving from economic, environmental and social developments.
Value through Stakeholder Relationships
Corporate Responsibly also integrates stakeholders' interest into the organization's culture. Done correctly, CR programs deliver value by generating revenue, creating operating efficiencies, and attracting capital. Companies are able to move offensively in a competitive economy, mitigate risks and extend an innovative corporate culture.
When searching for a safe haven for assets, investors gravitate to the investments which have a greater upside potential with little risk. A company which has embraced CR significantly reduces its exposure to litigation and sanctions because it uses regulations and compliance requirements as a baseline to innovation. The goal is not just meeting requirements; it is solving problems before they are at the front door. These companies will not be caught unprepared when natural resources are scarce or when regulations become stricter to meet ever increasing standards. Instead they will thrive. Investors are seeing the advantage of companies poised to take competitive advantage in a changing landscape of the global environment.
An integrated CR program goes beyond compliance and risk avoidance into proactive long term innovative strategies. It aligns with the corporate culture, provides a positive message for recruitment and retention employees and directors, strengthens stakeholder relations, and identifies more opportunities.
