Merck & Co., Inc. CSR Performance Benchmark

Sustainability Ratings

 

Corporate Social Responsibility (CSR) and Sustainability metrics site CSRHub recently updated its ratings on Merck & Co., Inc. and the 248 companies in the Pharmaceutical and Medicine Manufacturing industry.  Merck & Co.’s overall rating currently is 63 after the most recent updates to their CSRHub page.

 

Please note, the Sustainability Ratings widget will continually update and show the latest ratings on CSRhub

 

The average rating for the other companies in the Pharmaceutical and Medicine Manufacturing industry is 53.  Merck & Co. has moved up and is currently in 5th position on the list, using the CSRHub average user profile. You can see more information about Merck & Co. at their CSRHub page here.

 

Merck & Co. has a particularly strong score of 73 in the Employees area.  This is due to a high score in Compensation and Benefits category of 74—well above the average for this industry of 57.  The area with the greatest opportunity for improvement for Merck & Co. is the Leadership Ethics category.  Here, Merck & Co. gets a 53— which is equal to the industry average.

 

See the Merck & Co. Corporate Social Responsibility website here.

 


 

CSRHub ratings are on a scale of 0 to 100, with 100 being the highest. To see more on how CSRHub creates a score and the CSRHub rating rules, visit here.

 

CSRHub provides access to corporate social responsibility and sustainability ratings and information on 8,900+ companies from 135 industries in 102 countries. By aggregating and normalizing the information from 325+ data sources, CSRHub has created a broad, consistent rating system and a searchable database that links millions of rating elements back to their source. Managers, researchers and activists use CSRHub to benchmark company performance, learn how stakeholders evaluate company CSR practices and seek ways to change the world.

 

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EKOS International Launches Benchmark Report Service Using CSRHub Data

EKOSCSRHub

 

We are excited to announce that EKOS International is providing a new customized benchmark report service. Using data from CSRHub, the world’s largest database of sustainability ratings, the reports help companies assess their CSR performance compared to selected competitor, customer and peer companies, as a valuable input to their sustainability strategy and goal setting.

 

EKOS provides strategic sustainability consulting for many of North America’s best-known corporations and has been an international thought-leading consultancy on integrating sustainability for competitive advantage for almost 20 years. EKOS is using CSRHub’s 8,900 company ratings and millions of data points from over 300 sources to evaluate, compare, and objectively assess where its clients are leading and/or lagging. Clients receive actionable benchmarking analyses and strategic planning that they can use as a springboard for designing and accelerating their corporate sustainability performance.

 

CSRHub is adding EKOS’ benchmark service to its CSR Report Hub. To see CSRHub partner reports and the new EKOS customized report offering, go to the CSRHub reports page.

 

About EKOS International

 

EKOS International is a leading strategic sustainability consulting firm, helping companies understand the imperative for sustainability as a key driver of competitive advantage, and integrate CSR/ Sustainability into core strategy and operations. EKOS delivers customized solutions for strategic planning, global benchmarking, sustainability roadmaps and implementation, CSR Reporting, employee engagement, materiality assessment, and innovation.

 

For more information, visit www.ekosi.com or contact Lorinda Rowledge, Partner and Co-Founder, EKOS International: lrowledge@ekosi.com 206-232-4000

 

About CSRHub

 

CSRHub creates simple, direct comparisons of Corporate Social Responsibility (CSR) and Sustainability performance among competitors and across supply chains, industry, and regions. It reinforces third-party standards and encourages transparency and responsible behavior. Our comprehensive database of CSR information provides a complete set of sustainability metrics and tools. We support and serve the decision-making needs of corporate managers, researchers and activists.

 

For more information, visit www.csrhub.com or contact Bahar Gidwani, CEO and Co-Founder, CSRHub, bahar@csrhub.com.

 

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New Mobile App with CSRHub Sustainability Ratings

We are excited to announce Ethical Barcode hasEthical Barcode app powered by CSRHub API released a new app that lets you uncover what you’re truly supporting when you shop. Scan barcodes quickly at the grocery store, and make an empowered, ethical decision on what to buy. Ethical Barcode is using the newly updated CSRHub Specification for REST Access (CSRA) API to power CSRHub ratings into the app. Use Ethical Barcode to empower your next trip to the grocery store and instantly find out which companies really share your values on child labor, animal testing, deforestation and other ethical issues.

 

The app is already receiving some great reviews at the Google Play store!

Just what I needed! It’s now convenient to shop cruelty free. I’m so excited!  KGV
 
This app lets you know how sustainable a product is just by scanning the barcode. It is great helping you do your part to protect our planet!  P Hader

 

Learn more at ethicalbarcode.com/  and download for Android or Apple today.

 

Interested in piping CSRHub ratings into your next app or project? We are happy to help.  The CSRHub Specification for REST Access (CSRA) API offers a simple way for professional-level CSRHub subscribers and partners to request information from the CSRHub database. There are now 105 calls listed in the API, with more than 200 variations. A developer can easily write code that requests CSRHub overall, category or subcategory ratings. Applications can also use the CSRA API to request information about companies, ratings at the overall, category, or subcategory level for any month from December 2008 through the present, average ratings for industries and more.  Check out our newly updated API!

 

Subscribe to CSRHub today for access to the CSRHub Specification for REST Access (CSRA) API.  Let us know your development plans, and we can help promote your app or project release!

 


 

CSRHub provides access to corporate social responsibility and sustainability ratings and information on 8,900+ companies from 135 industries in 102 countries. By aggregating and normalizing the information from 325 data sources, CSRHub has created a broad, consistent rating system and a searchable database that links millions of rating elements back to their source. Managers, researchers and activists use CSRHub to benchmark company performance, learn how stakeholders evaluate company CSR practices and seek ways to change the world.

 

 

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CSRHub CEO Bahar Gidwani Speaking at 2nd Annual CSR Investing Summit

summer in the city

 

CSRHub’s co-founder, Bahar Gidwani, has been invited to speak in New York at the Summer in the City 2nd Annual CSR Investing Summit. This all-day conference offers participants the opportunity to discuss experiences and viewpoints on how to define, manage, and measure responsible investing.  The conference will include expert practitioners from the following groups: plan sponsors, endowments, consultants, academics, non-governmental organizations, the “sell side,” and media.  Attire is informal and networking is encouraged.

 

Bahar will be leading a presentation on Measuring Social and Governance Performance for Nonpublic and Emerging Market Companies at 2pm. Bahar will be joined by Christina Alfonso of Madeira Global and Rekha Unnithan of TIAA-CREF. Over the past few years, Bahar has been gathering data on nonpublic and emerging company social performance while Christina has been leading and managing investments in these firms. Rekha is a key player in the sustainability reporting process of one of the world’s largest NGOs. Their discussion should give a broad overview of how this sector has behaved in the past and what types of measurement and reporting we may expect to see, in the future.

 

CSRHub members can receive a more than 50% discount of $200 on the $395 price for the event by entering the following code when registering for the summit: CSRCOOP. Learn more and register here.

 

Summer in the City 2nd Annual CSR Investing Summit
hosted by S-Network Global Indexes, Inc.
Thomson Reuters Building (3 Times Square-30th floor)
July 22, 2014

 


 

Bahar GidwaniBahar Gidwani is CEO and Co-founder of CSRHub.  He has built and run large technology-based businesses for many years. Bahar holds a CFA, worked on Wall Street with Kidder, Peabody, and with McKinsey & Co. Bahar has consulted to a number of major companies and currently serves on the board of several software and Web companies. He has an MBA from Harvard Business School and an undergraduate degree in physics and astronomy. Bahar is a member of the SASB Advisory Board.  He plays bridge, races sailboats, and is based in New York City.

 

CSRHub provides access to corporate social responsibility and sustainability ratings and information on 8,900+ companies from 135 industries in 102 countries. By aggregating and normalizing the information from 325 data sources, CSRHub has created a broad, consistent rating system and a searchable database that links millions of rating elements back to their source. Managers, researchers and activists use CSRHub to benchmark company performance, learn how stakeholders evaluate company CSR practices and seek ways to change the world.

 

 

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Can Corporate Social Responsibility Be a Differentiator for Community Banks?

wib-logoma_logoEKOS 
 
By John R. Hancock, Moss Adams LLP and Lorinda R. Rowledge, EKOS International

 

With a few exceptions, community banks lag behind both large banks and other industries in corporate social responsibility (CSR) and sustainability policies, strategy, goals, performance and reporting. None are fully realizing the potential that integrating CSR into their core business has to offer.Why is CSR important? And how can your bank develop a CSR road map and report?

 

According to IFC’s 2007 report Banking on Sustainability, which surveyed 120 financial institutions in 43 emerging markets regarding their adoption of CSR strategies, 74 percent of respondents reported a reduction in risk as a result of considering environmental and social issues. Another 48 percent noted improved access to international capital, 39 percent benefited from improved brand value and reputation, 35 percent developed new business and 26 percent benefited from improved community relations.

 

Most corporate leaders in other sectors today recognize that CSR is strategically relevant to their business. This is equally true in banking, where executives are now increasingly seeing CSR as an effective means of:
 

  • Assessing lending and investment risks
  • Protecting reputation and brand
  • Building loyalty among commercial and retail customers
  • Attracting new clients
  • Capturing savings from reduced operational costs
  • Attracting, engaging, and retaining employees
  • Fulfilling their responsibility as good corporate citizens

 

While many banks have long supported community activities, and several have initiatives to encourage recycling and reduce paper consumption, true leverage comes from integrating CSR into every aspect of the business. This includes business strategy, product and service offerings, risk assessment and lending policies, facilities management, governance, procurement and supplier management, HR practices, and corporate philanthropy.

 

Developing a plan for greater integration of CSR in the form of a CSR or sustainability road map together with a publicly shared CSR report are two major approaches that will move banks toward more successful implementation. Begin the process by defining your bank’s social, environmental, and economic impacts and opportunities, then specify your CSR strategy, goals, implementation plan, initiatives, and milestones. Here’s how the steps might look:
 

  • Commit to strategically managing CSR.
  • Develop a sustainability implementation road map, with goals, milestones and progress reviews.
  • Identify material CSR-related impacts, issues and opportunities.
  • Develop and implement key sustainability performance indicators.
  • Develop a CSR or sustainability report (may initially be internal only).
  • Capture your current success stories – what’s already happening that can be celebrated and built on.
  • Obtain assurance on sustainability assessment systems and data.
  • Integrate CSR into your core business through policies, strategies, and product and service offerings.
  • Improve internal CSR practices.
  • Engage stakeholders – employees, customers, shareholders, community members, local economic development offices, suppliers, etc.
  • Participate in the Global Alliance for Banking on Values and other relevant initiatives.
  • Drive both continuous and breakthrough improvement in CSR performance and outcomes.

 

These need not be done sequentially. Although the primary purpose of a CSR or sustainability report is to transparently communicate CSR impacts, risks, strategies and progress (or lack thereof) to stakeholders, it can also be a powerful organizing driver for strategic sustainability planning and implementation. The tangible goal of producing a CSR report serves as a catalyst to educate leaders and key organizational members, gather and analyze significant issues, assess which measurements are in place and which are needed, engage a cross-functional team in data gathering and analysis, engage the organization in developing strategy and goals, and develop the framework for monitoring progress against goals.

 

CSR reporting also serves as a platform for telling your story. Although most community banks discuss community involvement on their websites, and several publish facts about their environmental efforts, very few produce CSR reports. Two notable exceptions are Triodos Bank, the pioneer of sustainable banking over 30 years ago, and San Francisco-based WIB member New Resource Bank, which published its first report in 2013.

 

The first year or so of a sustainability initiative typically involves building the bank’s measurement system to ensure decisions and reporting are based on valid, accurate data. The latest guidelines released by the Global Reporting Initiative make reporting simpler and more targeted, encouraging companies to focus on those issues most material to their stakeholders rather than reporting on a laundry list of performance indicators. The guidelines now allow assurance evidence per indicator, which enables companies to choose to assure only the most significant indicators in their report. External assurance helps build credibility and trust, and this change in reporting expectations makes assurance more affordable and achievable for smaller companies.

 

Most community banks are failing to leverage CSR to accelerate new product and service offerings, deepen customer relationships and loyalty, stimulate business growth or attract and retain talented employees. For those that jump on board, there are many potential rewards.

 

Lorinda Rowledge is Cofounder and Partner of EKOS International, a strategic sustainability consulting firm.  She is passionate about the synergistic nexus of innovation, sustainability and employee, customer, and stakeholder engagement. Lorinda leads EKOS CSR Report Rapid Prototyping, Materiality Assessment, and Open Innovation/Crowdsourcing services.  She co-authored Mapping the Journey, a book featuring global businesses leading in the application of sustainability.  Lorinda holds a Ph.D., specializing in Organizational & Community Psychology.  She is a strategic advisor to CSRHub.com, a database that provides sustainability ratings data on 8,900+ companies worldwide.     Contact Lorinda: LRowledge@ekosi.com  and EKOS: www.EKOSi.com  
 
 

 John R. Hancock is partner with Moss Adams LLP (www.mossadams.com). He can be reached at 503-323-7386 or john.hancock@mossadams.com

 

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