LONDON – November 8, 2024:s Benevy Inc., a CSR solution provider, notes that corporations in the UK are undertaking an increasing number of CSR activities.
The data, which was made public during the Benevity Forum London, explains that businesses in the UK are leading in terms of social responsibility, and volunteering and CSR engagement rates are increasing at a faster pace than the world average.
Such positive changes are caused by wider participation of employees in volunteering and giving programs and an increased emphasis on tangible community impact.
According to the report, State of Corporate Purpose 2024, which is already extending its research data to nearly a thousand companies around the world, the incorporation of CSR strategies into UK businesses to generate social as well as economic returns is growing.
It mentions that there has been a 25% increase in the number of UK employees involved in CSR activities with 14% currently engaged, higher than the global average.
“Businesses are powerful agents of change and can mobilize their employees around causes that support the company’s mission,”
Said Sona Khosla, Chief Impact Officer at Beniwity.
“The results presented in this report highlight how UK leaders are amplifying their efforts to deliver social impact initiatives which help the business, and how critical they are to almost every business.”
The report on benevolity has also unveiled positive development in the sponsoring capacities of ERGs and also interest in skill-based volunteering programs.
CSR is transforming into a strategic focus area for UK businesses with over £31 million given to approximately 13,000 charitable organizations.
However, while enthusiasm about CSR is high, there is a marked sense of ‘cautious optimism’ regarding what role AI will play in philanthropy, with 67% of respondents espousing concerns about AI’s societal impact versus 87% of respondents being ‘optimistic’ about AI’s possibilities.
With organizations increasingly taking an outcomes-based approach to philanthropy, CSR budgets are likely to become more focused on impact measurement and reporting in the future.
This assurance exemplifies how UK stakeholders are beginning to appreciate the fact that CSR can actually add more value than just profits alone.
Source: https://benevity.com/press-releases/all-time-high-corporate-social-responsibility-impact-in-uk
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