“Being responsible strengthens a company’s competitiveness, but the difficult thing is figuring out to what extent. If society and industries are prosperous, then companies will advance. In this sense, responsibility is fundamental in the long term.” These observations were made by Ignasi Carreras, Director of ESADE’s Institute for Social Innovation, at a session entitled “CSR: Developing Business and Contributing to the Progress of the Sector”, organised by the SERES Foundation and ESADE. Mr. Carreras highlighted the importance of creating a system for measuring social responsibility. Such a system, he argued, makes it possible to determine the extent to which social responsibility boosts business development. Mr. Carreras also commented: “Companies must be agents of transformation, not only by reducing their negative social impact but by using their competencies to create products that make for a healthier society.”

On the topic of measurement, Ana Sainz, Director General of the SERES Foundation, commented: “Measuring intangible aspects is complex, but at SERES we’ve been making a major effort to develop indicators for this. Your company can’t be strong and competitive without also contributing to the development of the sector and the society in which it operates.” Ms. Sainz also urged companies to pay attention to technological advances and avoid excluding various social groups.

The role of executives in CSR management

Jesús Díaz de la Hoz, Chair of the PwC Foundation, commented: “Social responsibility has evolved: whereas before it was an ethical matter, nowadays it’s an issue that plays a role in management.” By measuring results over time, “major companies have realised that creating value through a good CSR policy affects both the sector they operate in and the company itself. Thanks to these metrics, organisations are able to demonstrate the links between these practices and good governance.” Mr. Díaz de la Hoz also noted that the United Nations Sustainable Development Goals (SDGs) have encouraged companies to get involved in social development and pay attention to regulatory bodies.

Javier Figaredo, Director of Corporate Affairs at Philip Morris Spain, observed that, at a time of change and digital transformation, his company is also contributing to harm-reduction efforts by offering a new product: “For many years, we’ve been working on alternative systems that provide an alternative to tobacco combustion; it’s a long-term research project whose ultimate goal is to do away with cigarettes.”