A large majority of Canadian shareholders believes social responsibilities should not be forgotten in the pursuit of profits, a new national poll reveals.
The poll of shareholders across the country by Vector Research shows a large majority – 74 per cent – say business executives operating in Canada and internationally should expand their responsibilities to embrace a broader social ethic.
More than half of those polled (54 per cent) said they would be willing to invest in companies with a positive record of social responsibility on issues such as human rights and the environment, even if it meant lower financial gains.
Given the choice, wealthy shareholders (59 per cent) say they prefer pension funds with investments in socially responsible companies instead of those that seek only the highest returns.
“As globalization increases corporate influence, Canadians believe corporations should be socially accountable for their actions,” said Avie Bennett, chair of McClelland and Stewart and co-chair of the Canadian Democracy and Corporate Accountability Commission, which commissioned the poll.
Added co-chair Ed Broad-bent, former federal NDP leader: “Canadians clearly want their companies to succeed, but they also want them to respect rights and the environment.”
The poll indicates that 75 per cent of Canadian shareholders (compared to 80 per cent of Canadians as a whole) want Ottawa to establish standards for social responsibility and oblige firms to report on how well they are meeting the standards.
For corporations operating abroad, a majority of Canadian shareholders (81 per cent) believe the federal government should pursue an international agreement for enforceable corporate accountability standards, the poll suggests.
Should an international agreement prove unattainable, 84 per cent of shareholders say Canada should go it alone with its own standards. The poll was conducted Sept. 28-Oct. 8, 2001.
The commission will release its final report at the end of the month.
