EY: CEOs, boards, investors align on need for corporate social responsibility

A new survey from EY suggests the days of keeping quiet on major societal issues are numbered for CEOs.

In the "2019 EY CEO Imperative Study," EY surveyed CEOs, board directors and institutional investors from the largest companies in the world. CEOs and directors from the Forbes Global 2000 and the Forbes Largest Private Company list were included, as were institutional investors who manage $100 billion or more in assets.

Five key findings:

  1. Most CEOs, board directors and investors agreed corporations need to take action on global challenges. EY lists challenges like income inequality, climate change, data privacy and ethics, and economic insecurity.
  2. Most CEOs (67 percent) felt "moderate to extreme pressure" to take action on global challenges. At the largest companies — those with $20 billion or more in revenue — 77 percent of CEOs felt this pressure.
  3. Most CEOs (57 percent) see greater opportunity than risk in engaging with social challenges.
  4. Eighty percent of CEOs believe taking action on social challenges will also help them competitively.
  5. Boards, CEOs and investors agreed the top two issues for businesses are cybersecurity and job loss due to technological advancements.

Read more here.


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