– important means of influence
Highlighting both strengths and weaknesses in companies’ sustainability strategies has during discussions proved to be a good way of getting them to take action.
The Ethical Council’s engagement is not limited to exercising influence over companies where problems already exist. The Council’s preventive initiatives are just as important, measures that are designed to support the work of companies with regard to sustainability issues, to prevent serious incidents from occurring. Over the past few years, the Ethical Council has focused increasingly on preventive initiatives as they have proved to be an effective way of influencing companies to conduct their business in a more responsible way.
The dialogues are about persuading companies to focus more closely on various environmental and social issues, improve internal processes and improve the transparency of their work. The Ethical Council analyses companies’ weaknesses and strengths based on existing company information and best practice in the industry.
One good example is the Ethical Council’s mining project >> Mining industry
The dialogues are conducted in confidence and as a result it is not always possible to report publicly on them. However, the Ethical Council champions transparency and wherever possible aims to make aspects of its proactive work public, without naming the companies concerned. On this webpage, you can read about several proactive projects, dialogues and initiatives that were carried out by the Ethical Council.
Cooperation – a key success factor
The issues that Ethical Council addresses are complex and their solutions are rarely obvious. This means that, to succeed in persuading companies to act in a more socially responsible way, many factors have to be in place. Making a difference demands resources, specific industry knowledge, contacts, time and commitment. Furthermore, in the Ethical Council’s experience, face-to-face meetings is the medium of communication that delivers the best results of all. The Ethical Council’s resources have been bolstered over the years; we have expanded our network of specialists and developed our members’ depth of knowledge of various sectors.
Most importantly of all, cooperation with a number of selected major international pension funds has been intensified, enabling us to engage in more dialogues and achieve a greater degree of influence.