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by
AnhNguyen
- November 14, 2024
In the UK, corporate social responsibility (CSR) initiatives are experiencing unprecedented growth, with new data from Benevity Inc. showing record-high commitment levels. Revealed at the Benevity Forum London, which gathered purpose-driven companies to discuss impactful CSR strategies, the data highlights UK businesses surpassing global averages in CSR engagement, particularly in volunteering and giving programs. Employee participation in CSR initiatives has surged by 25% year-on-year, with employee volunteering rates climbing by over 300%, contributing £31 million to support nearly 13,000 nonprofits.
The Benevity 2024 State of Corporate Purpose report, developed by Benevity Impact Labs, underscores how UK companies are aligning CSR strategies with core business values, advancing both ESG goals and carbon neutral strategies. Key findings include an expanding role for Employee Resource Groups (ERGs), with 61% of UK companies increasing ERG budgets to foster diversity and support social impact. Volunteering, especially skills-based programs and nonprofit board service, is becoming essential for employee engagement, reflecting a shift towards deeper, more impactful CSR models.
Further insights reveal cautious optimism around AI’s role in CSR, as companies explore its potential to address social issues while managing risks. As part of an outcomes-driven approach, 59% of UK companies plan to increase investments in CSR impact reporting, emphasizing measurable social benefits and financial returns on CSR programs.
According to Benevity Chief Impact Officer Sona Khosla, UK businesses are increasingly committed to CSR as an enterprise-wide focus, recognizing its impact on both corporate culture and social change. Benevity’s Enterprise Impact Platform supports these efforts, helping organizations implement CSR initiatives aligned with broader ESG and carbon neutral goals, thus setting the stage for more sustainable, inclusive corporate practices in the UK.
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