Most innovative CSR disclosure
Monstanto
Few companies are the subject of as much nefarious speculation as Monsanto, the St Louis-based agricultural company. That’s why the company has embraced a series of transparency initiatives aimed at setting the record straight. Those efforts have earned Monsanto this year’s Corporate Secretary Magazine Award for most innovative CSR disclosure.
‘Given the sometimes controversial nature of some of the companies’ products, the judges were impressed by the repeated and peerless emphasis on transparency,’ the panel said in announcing the award. ‘Rather than just reporting risks and sustainability policies, the company openly discusses actions being taken to maintain and improve its overall social and environmental responsibilities.’
David Snively, Monsanto’s senior vice president, secretary and general counsel, says the company made a conscious decision two or three years ago to fight negative rumors by addressing them head-on with transparency and dialogue. ‘We try to bust these myths by letting the facts speak for themselves,’ he explains.
Among the innovations are website sections called ‘For the record’ and ‘According to Monsanto’ that provide real-time updates on company initiatives and commentary on contemporary reports. The company doesn’t use these efforts just to correct misinformation, however. Monsanto has also responded to legitimate complaints and used these forums to make sure the public is aware of its actions.
For example, several years ago, Monsanto in India was informed that many farmers used child labor in cottonseed production. Monsanto investigated its own contractors and discovered that some were indeed using children under the age of 15, so it put together a program of additional funding to seed growers that were certified as having child labor-free fields. The program, which relies on independent third-party verification, has helped reduce the rates of child labor. Monsanto regularly audits the program and posts the data on its website and annually in its reports.
The company is not only pushing disclosure, however; it also has some ambitious programs to improve long-term sustainability. Among these are an effort to double crop yields by 2030, on the same land, using a third less natural resources, and an initiative in Malawi providing hybrid corn seeds specifically grown for Africa ‘even when it can’t pay for them.’
‘Some people have the perception that Monsanto is big corporate agriculture trying to control world food supply,’ Snively says. ‘It’s not true.’ And his team works diligently to make sure people know it.
