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Shanghai companies trailing in CSR
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Shanghai’s listed companies trailed the national average when it comes to developing corporate social responsibility, a report said yesterday.
The 206 listed companies scored 22.8 points in an index tracking their CSR development while the national average was 34.4, according to a report jointly released by the Research Center for Corporate Social Responsibility of the China Academy of Social Sciences and Xinhua news agency.
Zhong Hongwu, director of the research center, blamed the gap partly due to the higher CSR level of central government-owned enterprises.
The index classified five grades of CSR development, with the lowest grade having a score below 20 points and the top grade achieving a score above 80.
Shanghai’s financial industry led in CSR development with an average score of 32.2, followed by 30.4 for the biomedical industry and 29.1 for the petrochemical industry, according to the report. Education, leasing and commercial services as well as the agriculture sector came bottom with scores of 10.5, 9.5 and 9 respectively.
Companies listed on the Shanghai Stock Exchange had better CSR development than those listed in Shenzhen, said the report.
The findings are based on an analysis of disclosures by the listed companies, evaluating factors including employee care, community relations and environmental management.
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