Corporate social investments increased a record 41 percent over the last three years, a report from the Chief Executives for Corporate Purpose finds.

Based on survey results from two hundred and thirty companies, the annual report, Giving in Numbers, (52 pages, PDF), identifies trends in employee engagement, community investment, and social efforts made by large corporations. According to the report, in 2020, due to rapid pivoting by healthcare companies to provide product donations in response to the COVID-19 pandemic, corporate social investments were up 41 percent; the median ratio of COVID-19 contributions as a percentage of total community investments was 16.6 percent; 93 percent of respondents said they are dedicating a part of their total social investments to diversity, equity, and inclusion (DEI) efforts; and 75 percent of companies reported that all or most employees know their company's purpose statement.

According to the survey, non-cash contributions experienced the highest increase in median dollar value among all funding types (93 percent) in the last five years (from $4.8 million in 2016 to $9.2 million in 2020); and median matched donations remained steady over the last three years, with only two types of programs increasing their median dollar value: disaster relief (up 258 percent) and year-round policy (up 28 percent). In addition, the percentage of companies offering virtual volunteering opportunities increased from 38 percent in 2018 to 87 percent in 2020.

"We're encouraged about how companies stepped up in 2020, particularly in DEI, since CECP believes it's in leading CEOs' and companies' best interest to support a more safe, inclusive, and equitable society," said CECP chief executive Daryl Brewster. "The Giving in Numbers report provides evidence that companies are taking action to invest in solutions after a heavy year of racial injustice and economic hardship for many."

(Photo credit: CECP.CO)
Source: PND