SHAREHOLDERS AND GENERAL PUBLIC SAY CORPORATIONS SHOULD
BALANCE PROFITS WITH SOCIAL RESPONSIBILITIES, POLL REVEALS
TORONTO—January 9, 2002– A large majority of Canadian shareholders
believe that in pursuit of profits Canadian corporations operating both
nationally and internationally must take into account their
responsibilities for human rights, the environment, their employees and
local communities, according to a new poll conducted by Vector Research.
The poll indicates that 74 per cent of shareholders, slightly more than
the Canadian public as a whole, say business executives should expand
their responsibilities to embrace a broader social ethic. Over half (54
per cent) say they would be willing to invest in companies with a
positive record on social responsibility even if it means lower
financial benefits to themselves. Given the choice, wealthy shareholders
(59 per cent) say they prefer pension funds with investments in socially
responsible companies instead of those that seek only the highest
returns.“
As globalization increases corporate influence, Canadians believe
corporations should be socially accountable for their actions,” said
Avie Bennett, chair of McClelland and Stewart and co-chair of the
Canadian Democracy and Corporate Accountability Commission.
His co-chair, Ed Broadbent, former leader of the federal NDP, noted,
“Canadians clearly want their companies to succeed, but they also want
them to respect rights and the environment.”
The poll indicates that 75 per cent of Canadian shareholders, a
similar number to Canadians as a whole (80 per cent), want the
government to establish standards for social responsibility and oblige
firms to report on how well they are meeting the standards so that
shareholders and customers can judge for themselves whether a company is
socially responsible.
For corporations operating abroad, a majority of Canadian
shareholders (81 per cent) believe the federal government should pursue
an international agreement for enforceable corporate accountability
standards. Should an international agreement prove unattainable, 84 per
cent of shareholders say Canada should go it alone with its own
standards.
The poll also suggests Canadians are concerned about corporate
involvement in the political arena. A majority surveyed say the federal
government should follow the example of Manitoba and Quebec and prohibit
corporations (54 per cent) and trade unions (56 per cent) from donating
to political parties and candidates.
The Canadian Democracy and Corporate Accountability Commission
commissioned the Vector Poll to supplement the hundreds of submissions
received and discussions held on the issue during cross-country hearings
this past year. The commission will release its final report and
recommendations in Ottawa at the end of the month.
Editors’ note: The findings in the Vector poll are based on telephone
interviews conducted from September 28th through October 8th, 2001 with
2006 adults 18 and older throughout the country. The margin of error is
2.2 per cent, nineteen times out of twenty. Copies of the complete poll
results and the commission's discussion paper are available at:
www.corporate-accountability.ca. |
