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R-Z
Recyclate
Whereby recycled material is used to make a new product. Different from recycle in the fact that it is not just reused but the materials form the actual ingredient for a new product.
Regeneration
In some areas, problems of economic, social and environmental dereliction combine to lock local communities into a vicious cycle of exclusion. Area based regeneration initiatives encourage a range of partners to work together, targeting their resources to improve the quality of life in these areas. To find out more, read our CSR expert view on regeneration.
Renewable energy
Renewable energy is that which is generated from natural resources which are renewable (naturally replenished) including sunlight, wind, rain, tides and geothermal heat. Renewable energy technologies range from solar power, wind power, hydroelectricity/micro hydro, biomass and biofuels for transportation.
Reporting
The process or the production and dissemination of the records or accounts of an organisation. To learn more about innovation in CSR reporting, view our archived expert view.
Risk
Any event or actions that may adversely affect an organisation to achieve its objectives and execute its strategies (Insitute of Internal Audit). Significant risks are those related to market, credit, liquidity, technological, legal, health, safety, environmental, reputation, and business probity issues.
Outrage: Perceived risk is usually a complex, volatile mix of hazard and outrage. Experts argue that companies minimize the risk of outrage when they engage stakeholders in the development and operation of major projects.
Risk management
Ability to pick up and amplify 'weak signals' in a business environment that depends on internal controls, composition of the board and the role of non-executive directors. Focus on economic value added (tool of choice of converting normal employees into value change agents resulting in a dynamic behaviour change that makes all constituents participants in shareholder value creation), and environmental/social value added/destroyed.
Scenarios
An outline or model of an expected or supposed sequence of events, used for future proofing, risk management and strategy / policy planning. The DTI Foresight programme and Defra’s Horizon Scanning programme are examples of scenarios.
Social and ethical accounting, auditing and reporting (SEAAR)
SEAAR involves accounting for, reporting on, and auditing an organisation’s policies, procedures and impacts with respect to employees, communities (local and global), suppliers, customers and the environment (Accountancy Ireland, December 2000).
Social capital
A measure of the ability of people to work together for common purposes in groups and organizations. A key element of social capital is the sense of trust. Social capital also describes the pattern and intensity of networks among people and the shared values which arise from those networks. While definitions of social capital vary, the main aspects are citizenship, neighbourliness, trust and shared values, community involvement, volunteering, social networks and civic participation. (Office of National Statistics)
Social cohesion
The capacity to live together in harmony with a sense of mutual commitment among citizens of different social or economic circumstances.
Social entrepreneurship
Social entrepreneurs play the role of change agents in the social sector, by:
- Adopting a mission to create and sustain social value (not just private value),
- Recognising and relentlessly pursuing new opportunities to serve that mission,
- Engaging in a process of continuous innovation, adaptation, and learning,
- Acting boldly without being limited by resources currently in hand, and
- Exhibiting a heightened sense of accountability to the constituencies served and for the outcomes created. (Dees, 1998).
Social exclusion
What can happen when individuals or areas suffer from a combination of linked problems such as unemployment, poor skills, low incomes, poor housing, high crime environments, bad health and family breakdown. It can also have a wider meaning which encompasses the exclusion of people from the normal exchanges, practices and rights of society.
Socially responsible investment (SRI)
An investment strategy that takes into account a company's ethical, social and environment performance as well as its financial performance.
Stakeholders
The broadest definition of ‘stakeholder’ brings in anyone who affects or is affected by a company’s operations. Stakeholders are also defined as those who can claim a legitimate interest in an organisation and its work, through an impact that they have on an organisation, or an impact the organisation has on them. They are the people who care about and who may wish to play a part in how an organisation progresses. Stakeholders include both people inside and outside the organisation. The key new perception is that companies need to expand the range of interests considered in any new development from customers, shareholders, management and employees to such people as suppliers, local communities and pressure groups.
Stakeholder engagement
The process of seeking stakeholder views on their relationship with an organisation in a way that may realistically be expected to illicit them (Institute of Social and Ethical Accountability, 1999).To find out more, read our briefing paper on stakeholder engagement.
Supply chain
The linked set of resources and processes that begins with the sourcing of raw material and extends through the delivery of end items to the final customer. It includes vendors, manufacturing facilities, logistics providers, internal distribution centres, distributors, wholesalers and all other entities that lead up to final customer acceptance.To find out more, read our briefing paper on SMEs and the supply chain.
Sustainability
A process or state that can be maintained indefinitely. In the environmental case we refer to the time period that human systems can be productive whilst sustaining ecological systems, climatic processes, and the earth's functions.
See also:
- Sustainable communities
- Sustainable consumption and production
- Sustainable development
- Corporate sustainability
Sustainable communities
The term 'sustainable communities' can and does mean almost all that you would want from your home and workplace. The full definition runs to three pages in Annex A of Securing the Future, and unpacks the opening words of the definition on the Communities and Local Government website: "Sustainable communities are places where people want to live and work, now and in the future."
It can be taken with the statement in Securing the Future that: "Sustainable communities embody the principles of sustainable development.
They:
- balance and integrate the social, economic and environmental components of their community
- meed the needs of existing and future generations
- respect the needs of other communities in the wider region or internationally also to make their communities sustainable."
Sustainable Consumption and Production
Continuous economic and social progress that respects the limits of the Earth’s ecosystems, and meets the needs and aspirations of everyone for a better quality of life, now and for future generations to come. To find out more, read our Sustainable Consumption and Production briefing paper.
Sustainable development
There are over 100 definitions of sustainability and sustainable development, but the best known is the World Commission on Environment and Development’s. This suggests that development is sustainable where it "meets the needs of the present without compromising the ability of future generations to meet their own needs." To find out more, read our CSR expert view on sustainable development in the South East of England.
Triple bottom line (TBL)
Sustainable development involves the simultaneous pursuit of economic prosperity, environmental quality and social equity. Companies aiming for sustainability need to perform not against a single, financial bottom line but against the triple bottom line.
Turnbull report
The Turnbull report is the abbreviated name given to guidance provided by The Institute of Chartered Accountants in England and Wales to enable UK companies to implement the internal controls required by the Combined Code on Corporate Governance. The full title of the Turnbull Report is 'Internal Control: Guidance for Directors on the Combined Code.' The guidance is supported and endorsed by the London Stock Exchange.
According to ICAEW the guidance "indicates the company's internal control system should:
* be embedded within its operations and not be treated as a separate exercise;
* be able to respond to changing risks within and outside the company; and
* enable each company to apply it in an appropriate manner related to its key risks."
United Nations Global Compact (UNGC)
The Global Compact seeks to advance responsible corporate citizenship so that business can be part of the solution to the challenges of globalisation. The Global Compact is a voluntary corporate citizenship initiative of nine business principles, in the areas of human rights, labour and the environment.
Values
Over time, human and social values change. Concepts that once seemed extraordinary (e.g. emancipating slaves, enfranchising women) are now taken for granted. New concepts (e.g. responsible consumerism, environmental justice, intra- and inter-generational equity) are now coming up the curve.
Core values: Those values of the organisation which are defined within the organisation and which it attempts to realise (see also Code of Conduct). Read Article 13's statement of values and ethics.
Verification
Certification by an external auditor of the validity, meaningfulness and completeness of an organisation’s records, reports or statements.
Vision statement
‘The big picture’. The word vision means the conception of an image. In a vision statement you say where it is you want to go. The measurements of success are quantifiable, and the creator of the vision statement would be able to create a mental image of achieving the vision.
For more info...
Waste cycle
Reduction, reuse, and recycling programs to deal with household, commercial and industrial waste. A key component of this is also encouraging manufacturers and consumers to buy products with recycled content.
Workforce
Business impact in the workplace means recognising the business benefits and the wider social impact of good employment policies. This not only covers the traditional areas of recruitment, remuneration, and training, but also the growing concerns - and opportunities - of issues such as diversity and equal opportunities.
(Source: Article 13 sources and World Business Council on Sustainable Development).
© Article 13
Interesting? Then read about current debates and issues in CSR and sustainability.
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