If you work in the community investment space, chances are, you’ve asked yourself this question.…
REIMAGINING AND REDEFINING CORPORATE PHILANTHROPY
In late October, UN World Food Program Executive Director David Beasley took to Twitter and posed a challenge to the world’s ultra-wealthiest individuals: Step up on a one-time basis to help end world starvation.
The price tag was six-billion to Jeff Bezos and Elon Musk, who have a combined net-worth of almost $500 billion. The benefit would be a fiscal injection with potential to save the lives of 42 million people on the brink of starvation, and halt both geopolitical instability and mass migration. To many people’s surprise, Elon Musk met Beasley’s challenge with a caveat that sparked a global conversation. He asked for Beasley to provide a financial breakdown of the UN’s plan to spend his money.
DISCLOSING THE ‘S’ IN ESG: HIGHLIGHTING COMMUNITY INVESTMENT
It has become clear to those in the ESG (Environment, Social, Governance) space that ESG disclosure is becoming a norm demanded by institutional investors and increasingly, by the public alike.
The need for transparency, and we would argue authenticity, in reporting is not optional for companies across Canada, it is indeed obligatory.
Since 2007, the LBG Canada program has been advocating for this need for transparency. As LBG Canada members, your commitment to a clear, concise and audited statement on the value of your community investment portfolio highlights a commitment to creating value in community as well as a commitment to transparency in reporting.
LBG Canada members often highlight their involvement in the group to demonstrate the importance of a third-party auditor. Long standing members, TD Bank and TELUS, highlighted the London Benchmarking Group in their respective social impact reports in 2021. We believe this can only amplify your commitment to ESG disclosure.
We will continue to reach out over the audit season to ensure that your deadlines are met and that you have your audited data ready for inclusion.
CREATING CONNECTION AND IMPROVING SPACES
Now, more than ever, public spaces that bring people together to learn, play and enhance engagement are essential to support thriving communities. LBG Canada member, Federated Co-op Limited (FCL), is committed to their community investment mission of helping rebuild community connections through the Co-op Community Spaces. The program is administered by FCL on behalf of the Co-operative Retailing System (CRS) across Western Canada and it has been successful because of the local partnerships created between the local Co-ops, their recipients and the communities they are a part of. Since 2015, 147 projects have been funded with $10.5 million to support recreation, environmental conservation and urban agriculture.
WHAT DOES LBG CANADA MEAN TO YOU?
Over the last several months, we engaged with LBG Canada members to ask:
What does LBG Canada mean to you?
We were overwhelmed by the thoughtfulness and positivity that came from these conversations. Here are just a few things that we heard:
- LBG Canada is a trusted partner that offers credible and unbiased data that supports our yearly reporting
- The program allows us access to valuable benchmarking data that helps us evaluate best practices and comparisons within our industry
- We value the expertise and knowledge that LBG Canada brings knowing that we can ask questions around community investment throughout the year
We value this feedback from among a community of incredible social impact thinkers and practitioners. We seek to find additional ways to support and advance your work. More than ever – we will continue to create opportunities for networking, learning and sharing of best practice!
If you haven’t had a chance to share ‘What LBG Canada Means to You’, please get in touch!
AWARENESS DAYS & RESOURCES
- Giving Tuesday: November 30th, 2021. On Tuesday, November 30th, 2021 give to a cause you care about and support your favourite charities. Join millions across Canada and around the world and make a big difference. Head to Canada Helps to discover charities to support. Discover charities at canadahelps.org
- International Volunteer day: December 5th, 2021. The ‘Corporate Volunteering, Giving and Grants Technology Review‘ is the only one of its kind in the industry, offering CSR practitioners with a comprehensive overview of platforms from around the world that support employee giving, volunteering, and grant programs, as well as unique insight into technology procurement, implementation, and adoption. Download your free copy here.