Indicators, Measurements Reporting and Benchmarking

Another cluster of tools that are available to businesses involve the means by which companies can become more transparent about their performance on CSR through the presentation of information. This includes tools that help to employ indicators for measuring performance, account and report on corporate performance, and assess CSR performance of a business relative to some benchmark such as an acceptable framework, its past activity, or to other companies.

Companies recognize that transparency and sound tools that support the transparency can build credibility within the marketplace and society where the businesses operate. Increased transparency through the use of indicators, measuring approaches, accounting and reporting, assessments, and benchmarking can help a company to build business value.

It is probably fair to characterize the existing situation with respect to this cluster of tools as being at a relatively early stage of development. There is both exploration and experimental work taking place with regard to most of the tools. In many cases, the tools are considered as being at a draft or preliminary stage of development. Nonetheless, the tools can aid a business to enhance their performance on CSR across the planning, implementation, checking, and improvement facets of the management of their operations.

Some of the more salient tools that are available in this domain include:

• Corporate Sustainability Reporting Toolkit
• Global Reporting Initiative
• CSR Assessment Tool   Conference Board of Canada in partnership with Imagine
• Good Company Guidelines for Corporate Social Responsibility   Canadian Business for Social Responsibility
• Stepping Forward: Corporate Sustainability Reporting in Canada   Stratos
• CSR InsightTM   Five Winds International
• Eco-efficiency Tools for Business   Industry Canada