International Corporate Social Responsibility Rating Systems - Conceptual Outline and Empirical Results

Abstract

Stakeholders are more frequently demanding information from companies about their economic, environmental and social performance. To measure the triple bottom line of companies, specific concepts are needed. The article examines rating schemes used worldwide related to corporate social responsibility and sustainable development. The focus is on ratings for capital market participants as well as those that were developed in the interests of consumer organisations or companies themselves. Four groups can be identified as characteristic of current CSR (corporate social responsibility) ratings worldwide: risk assessment approaches, (sustainable) value enhancement approaches, models of industries of the future (companies as so-called innovators/pioneers) and approaches closely related to quality management models.