Csrnetwork and AccountAbility: General Electric Ranked No 2 in Global 2008 Accountability Rating

General Electric has claimed the number 2 spot in the 2008 Accountability Rating. In its annual assessment of the world’s largest corporations, the G-100, the Accountability Rating shows that General Electric has demonstrated a significant leap in accountability.

Compiled by international think-tank AccountAbility and consultancy Csrnetwork, with support from data provider Asset4, the Accountability Rating measures how companies build responsible practices into the way they do business, and their impact on the economies, societies and environments in which they operate.

The results show that almost all companies in the G-100 have broadened their definition of responsibility. Many are not just recognising and mitigating risks, they are also looking at how they can evolve existing products and services, or create new ones, to address major social and environmental challenges.

Todd Cort of Csrnetwork says, “Companies are not just taking the carbon agenda more seriously, they are taking a closer look at their social impacts and recognising the majority of their most substantial social and environmental risks. The challenge now is to build the systems that allow them to turn this recognition into business benefits.”

Key findings
General Electric has clearly communicated its efforts to drive responsible practices into all aspects of its operations. Its Ecomagination initiative has been remarkably successful, resulting in sustainability solutions becoming a major part of the company’s business model.
78% of companies now disclose targets for their environmental performance. Under half say when they plan to achieve these targets.
75% of companies report on their carbon emissions; just 43% report a decrease.
The 2008 Accountability Rating top ten:
Vodafone; General Electric; HSBC; France Telecom;
HBOS; Nokia; EDF; GDF Suez; BP; Royal Dutch/Shell

”Once again we see the world’s largest companies becoming more accountable,” says Alex MacGillivray of AccountAbility. “There are many small-scale initiatives being started by these companies. The challenge lies in how companies can scale-up to find real solutions to societies’ major problems like climate change. Those companies getting it right demonstrate it can be hugely profitable and beneficial for the wider economy.”

Regional Accountability Ratings are also being produced for Bulgaria, Greece, Hungary, Italy, Korea, Portugal, Russia and Turkey.

See the Accountability Rating 2008 in full at www.accountabilityrating.com or www.fortune.com

Contacts

www.csrnetwork.com
Todd Cort: +1-415-864-3062
todd.cort {at} csrnetwork(.)com
or
www.accountability21.net
Tania Gobena, +44-(0)20-7549 0400
tania {at} accountability21(.)net