A new report published by the American Chamber of Commerce Ireland which researched the social impact of US investment in Ireland has shown that US companies supported 7,300 community projects nationwide last year.
This included initiatives in the areas of education, sport, health, STEM, culture, homelessness, social justice and inclusion.
The research, conducted by the University of Notre Dame on behalf of the American Chamber, shows that 52,150 staff at US companies are engaged in CSR. In total, the research shows employees of US companies gave over 603,237 work supported volunteer hours last year.
Of the approximately 700 US companies operating in Ireland 69% have formal CSR programmes, 61% support individual employee volunteering, 73% support projects that are youth related, 66% have formal CSR budgets and 55% publish CSR statements.
The report states that for many US companies, Ireland was their first encounter overseas and for most their first inroad into Europe.
It also states that Ireland is on the leading edge of Corporate Social Responsibility (CSR) innovation, effectively a laboratory for new ideas.
Many of the CSR programmes initiated in Ireland in the larger established American companies have been adapted in other European countries. International research suggests that companies operating in countries or regions with strongly developed local connections exhibit higher rates of CSR.
By European standards, Irish people at 65% are well above the 48% European average of belonging to a community or voluntary organisation. Ireland is above average in informal social contact (the second highest of 32 European countries), civic engagement, social support networks and trust in institutions.
Of the companies surveyed who have long term charity partners, 67% of those are multi-annual arrangements and another 26% of companies are planning to implement long term partnerships. 73% of companies have projects that are youth related (13 to 17yrs), with companies increasingly active in seeking partnerships with organisations such as CoderDojo, Junior Achievement, Young Social Innovators and the GAA, which operate at the heart of local communities and connect with young people.
Welcoming the report, President of the American Chamber of Commerce Ireland, Bob Savage said, "We are delighted to see the progress being made by US companies operating in Ireland in the area of Corporate Social Responsibility."
He added, "The figures are very significant, for example, 7,300 community projects supported by US companies, and staff at those companies giving over 600,000 hours to their own local causes, with the support of their employers. which I believe reflects the growing importance that companies are placing on CSR generally."
Source: www.businessworld.ie
