Study: Corporate Citizenship | Page 9

09 € 1,429bn CANADA GDP Lastly, GOVERNMENTS in different parts of the world are introducing new Corporate Citizenship regulations to encourage and enforce a more active role of companies in addressing societal changes. For example: in India, any company with annual revenues exceeding 10 billion Rupees (~ EUR 142 million) has to donate 2 percent of its net profit to charitable organizations (University of Oxford, 2016). But also closer to home, regulation relevant to Corporate Citizenship is changing, as illustrated by the EU Directive on Non-Financial Reporting (European Commission, 2016) or the Social Public Procurement Provisions in Sweden (ILO, 2016). THE UNKNOWN TERRITORY OF GOOD CORPORATE CITIZENSHIP Most companies have responded to these changing expectations and have increased their Corporate Citizenship efforts over the years. However, many are inevitably venturing into unknown territory: unlike in the US, where corporate citizenship focused reporting standards exist, e.g. from the Committee Encouraging Corporate Philanthropy (CECP), Germany has not widely established criteria for good Corporate Citizenship yet. Many people from both the for-profit and non-profit sectors still argue that companies should focus on their business and limit their social activities to paying taxes and simply making donations to NGOs. Others, however, demand that business plays a more active role. ||