A coherent Corporate Social Responsibility reporting framework for companies listed on the JSE Top 40 Index

Abstract

Purpose: Corporate social responsibility (CSR) reporting has been problematic because of the lack of authenticity and legitimacy in CSR initiatives. Greenwashing and various corporate scandals have occurred, which have further diminished the relevance of CSR and the reporting thereof. In the South African context, although companies listed on the Johannesburg Stock Exchange Top 40 index (Johannesburg Stock Exchange [JSE] T40) report on their CSR considerations, the reporting lacks coherence and is often not underpinned by definite conceptual frameworks, which results in differentiation and inconsistency in CSR reporting. Given the role of these corporates in assisting the government to redress some of the social injustices and environmental issues, it is important to craft a coherent CSR reporting framework for the JSE T40.

Design/methodology/approach: The study followed a constructivist qualitative research approach with a generic qualitative research design. Furthermore, the study used content analysis, in-depth interviews, focus group and thematic analysis.

Findings/results: The coherent CSR reporting framework for the JSE T40 was crafted with four key themes, namely Pillars of coherent CSR reporting, industry requirements, decolonise CSR, and culminate diverse views.

Practical implications: The framework aims to support the JSE T40 to better report on the CSR considerations, enable them to systematically communicate and evaluate the impact of their CSR initiatives.

Originality/value: The application of coherent CSR reporting can aid in addressing socio-economic inequalities, global warming, corporate governance scandals, and greenwashing by increasing corporate responsiveness and responsibility. Therefore, the aspirations of the National Development Plan, African Union’s Agenda 2063 and Sustainable Development Goals (SDGs) can be attained through CSR.