by Helen Sanders, Editor
While the environmental message can still be heard, it has been drowned by the cacophony of economic laments. Statements of corporate social responsibility (CSR) still appear in the annual reports expressing great deeds of environmental and social progress, but for the time being at least, the primary focus is on the P&L page. But is this the right priority, and can CSR (particularly focusing on environmental issues in this article) contribute to the P&L rather than standing as a separate chapter in the annual report? Furthermore, what role can treasurers play?
Daniel Marovitz, Head of Product Management, Global Transaction Banking, Deutsche Bank illustrates,
“Companies tend to view environmental sustainability as a non-issue, a necessary nuisance or as an opportunity. Deutsche Bank is in the latter category. We see that there are financial advantages which will be realised through the transition from an economy which is not concerned by the environment to one which is focused on protecting it.”
Many treasurers’ initial response will be that they have little control over the company’s environmental policies; this ignores the fact that the right environmental strategy has the potential to reduce costs and generate income, while the wrong one brings significant risk to the business.