EMERGING TRENDS IN INSTITUTIONAL SOCIAL RESPONSIBILITY: New PNC survey validates the growing priority executives are placing on social responsibility.

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This is the nineteenth in a series of informative monthly articles for North Carolina businesses from PNC in collaboration with BUSINESS NORTH CAROLINA magazine.

When PNC Institutional Asset Management recently published its inaugural Social Responsibility (SR) survey*, the findings validated what Simmi Prasad, PNC Institutional Asset Management director for the Carolinas, experiences dally in her advisory work with institutional investors. At the most basic level, the survey concluded that social responsibility Is a high priority for executives across for-profit companies and nonprofit organizations--and that serving the social good is perceived as becoming more Important.

"C-suite and financial executives in large for-profit and nonprofit organizations are increasingly and more purposefully looking to invest in socially responsible companies that align with their values," says Prasad, who also serves as co-lead for PNC Institutional Asset Management's enterprise-wide DEI council and co-chair for PNC's AMG Responsible Investing advisory group. "The purpose of this survey was to help us get a better understanding of how organizations are thinking about investing for change."

SOME KEY FINDINGS OFTHE PNC SR SURVEY, RELEASED IN MARCH 2022, INCLUDE:

* The vast majority of executives (92%) rank corporate social responsibility as a priority for their organization, with two-thirds (65%) saying it is a "very high priority."

* Both nonprofit and corporate leaders expect to see more SR-related policies in the workplace, with 94% of respondents predicting that social responsibility programs are here to stay.

* Most executives (91%) also believe companies and nonprofits can make a real impact on issues like climate change and Diversity, Equity and Inclusion (DEI) through their social responsibility programs and initiatives.

"This survey suggests that internal and external pressures are playing a key role in the shift toward social responsibility, and we don't expect that pressure to decrease anytime soon," says Prasad. "Organizations are being asked to expand their missions and look beyond their balance sheets in how they measure success, and nonprofits and for-profit companies are taking that to heart by looking for opportunities to demonstrate their values and commitments in this space. This also means they are seeking guidance on how to most effectively implement these programs."

TOP SR INITIATIVES

When it comes to specific social responsibility...