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Lundquist CSR Assessing Online Awards online CSR communications Nordic based on 2011 stakeholders’ needs 12 December 2011

Most Nordic companies fail to provide critical non-financial information online and follow the broader European trend in missing the chance CSR Online Awards 2011: to build credibility and engage stakeholders on Europe’s first study of online CSR the web communications th , , and 4 edition at European level Metso stand out for online CSR communications 220+ companies evaluated in Europe: rankings in new ranking for Nordic region for Austria, Europe 100, Germany, Italy, Nordic region, Switzerland, UK 79 evaluation criteria The CSR Online Awards, conducted annually by 100 points maximum communications consultancy Lundquist, comes for the 43 points average score for the top 40 Nordic first time to the Nordic region to examine how largest companies companies communicate corporate responsibility online. Although most of the top 40 companies report to 312 responses to survey from CSR experts in 37 some extent on environmental, social and governance countries issues, the results show that they fail to make the leap from a disclosure-driven approach to adopting proactive and engaging online communications.

The study assessed the corporate websites of the 40 largest companies in the Nordic region using an evaluation protocol of 79 criteria, totalling 100 points. The criteria were drawn up on the basis of a survey of more than 310 CSR professionals, sustainability experts and stakeholder representatives in 37 countries.

The CSR Online Awards Nordic 2011, published today, 3rd Lundquist CSR Online Awards finds Novo Nordisk as the best company for online CSR Seminar – Venice communications with 65 points. Danske Bank came rd second with 59 points, just ahead of Atlas Copco and The 3 Lundquist CSR Online Awards Metso in joint third position with 58.5 points. Rounding Seminar, held in Venice on 27-28 October, out the top 10 (in descending order) were SCA, ABB, brought together representatives from more than 50 , Carlsberg, and . The companies across Europe to recognise the winners average score was 43 points. of the CSR Online Awards 2011. The seminar featured internationally renowned speakers, Nordic companies perform firmly lower than European company case studies and discussion of the future leaders (members of the FTSE Eurotop 100 Index), of corporate responsibility on the internet. See the Lundquist website for details and photographs. whose average score was 50 points.

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CSR Online Awards 2011: evaluating the “Nordic companies are doing a decent job of inserting effectiveness of corporate responsibility into their corporate websites a range of social and communications environmental content, mostly derived from their reports,” said James Osborne, head of CSR communications at Lundquist. “But in an environment of deep suspicion The Lundquist CSR Online Awards has examined about claims to corporate responsibility or sustainability, how Europe’s biggest companies are communicating companies need to build a dynamic and interactive corporate responsibility online, on the basis of the needs relationship with online audiences - even in social media of key users and stakeholders. The study found that - by providing a more candid, credible and engaging many firms arefailing to build trust in online audiences account of their activities, updated on a regular basis.” because they don’t use the web to communicate the critical and compelling evidence behind their Chart 1: Nordic average and max score in three macro-areas of commitments to responsibility or sustainability. evaluation protocol

The study comprised seven country and regional rankings – Austria, Europe 100, Germany, Italy, 58 Content 23.9 Nordic region, Switzerland and UK – for a total of 29.8 more than 220 companies analysed. Each website User 18.5 was assessed using a set of 79 evaluation criteria (vs. 11.5 Max Score experience 12 77 in 2010), drawn up on the basis of a survey of more Nordic average (overall 43/100) than 310 CSR professionals, sustainability experts and Europe average Ongoing 22.5 stakeholder representatives from 37 countries. The 7.6 (overall 50/100) engagement 8 criteria were grouped into 12 sections and three macro- areas: Contents, User experience and Ongoing 0 10 20 30 40 50 60 engagement. Source: CSR Online Awards 2011

The average score in the all-important content section CSR Online Awards 2011: facts & figures was 41% of available points, in line with the overall average of 43 out of 100 (see chart 1). Best scores 220+ companies evaluated across Europe were found in the core social, environmental and 40 biggest Nordic companies assessed conventions & associations sections as well as for Each site evaluated twice (top performers a third overview information. However, many companies lack the critical information that demonstrates an honest and time) open attitude to corporate responsibility, rather than a 6 hours on average spent analysing each more limited, disclosure-driven approach. corporate website 1,320 hours of evaluations 34,800 judgements made Disclosure-based content provided… Hundreds of best practice examples identified Team of 7 people dedicated to the research 82% of companies have page or section on responsible products or services

58% have environmental data with historical comparisons 63% communicate their social commitment through Results of the research: the challenge of case studies building trust …but critical content missing The 2011 edition of the CSR Online Awards Nordic examined the region’s 40 biggest companies (based on 68% offer no information on the site about report’s membership of the benchmark OMX Nordic 40 Index). external assurance The study found that reporting on environmental and 65% present no information on the relationship social impacts has become standard practice for most between CSR and corporate governance companies, but that few of them adopt proactive and 93% do not show the CSR function’s placement within engaging online communications for wider audiences the company organization to build relationships through interactivity, ongoing engagement, dialogue and effective use of social media.

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As regards the two other macro-areas, Nordic companies took into consideration the 100 biggest companies in performed strongly on user experience (scoring on the region (members of the FTSE Eurotop 100 Index). average 62% of points available). But the greatest weakness (average 34% of points available) was found Eleven Nordic companies featured in the European in ongoing engagement, with a lack of news and list with an average score of 49.5, showing that the resources, interactive functionality, use of social media biggest Nordic companies are performing in line with and information about stakeholder engagement (see their European peers. This compared with an average box). These are aspects that are critical to constructing of 58.4 points for German companies in the European a compelling account of a company’s CSR, building a list and of 48.4 for the British companies. Clearly, the relationship with stakeholders and providing them with overall result for the 40 biggest Nordic companies was much sought-after regular updates. dragged lower by smaller companies.

Nordic websites followed the broader European trend in performing best in terms of navigability and Weaknesses in ongoing engagement: usability as well as social and environmental content; the weakest areas regarded information for socially 63% of companies make no use of video responsible investors as well as interactivity, CSR news Only 20% explicitly use social media for CSR and resources. Nordic companies scored firmly lower 95% don’t provide a calendar of CSR events than overall European companies for their presentation 65% give no evidence of feedback received from of non-financial reporting (average in Reporting section stakeholders was 35% of total, compared with 49% in the Europe 100 ranking). The top performing Nordic companies in the Europe-wide list were Novo Nordisk, which reached 12th position, and ABB and Nokia in joint 30th. “Providing information about non-financial performance is a great step forward compared with the past, but it’s not enough to build trust among stakeholders,” said Joakim Lundquist, founder of Lundquist. “To be Top 10 in Europe credible online, companies need to be proactive and responsive, reaching out to audiences with engaging, 1 Centrica (84 points) multimedia content and opening themselves up to 2 Deutsche Post (82.5) dialogue.” 3 Telecom Italia (82) 4 Eni (79) 5= Nestlé (74.5) Top performers in… 5= UniCredit (74.5) Overview: Carlsberg (7.5 points out of 9.5), UPM, ABB 7 Enel (74) and Ericsson (7) 8= E.ON (71.5) Reporting: Metso (11.5 / 12) 8= Intesa Sanpaolo (71.5) Environment: Atlas Copco (8 / 8.5) 10 Siemens (68.5) Ethics & governance: and SEB (4.5 / 6.5) Socially responsible investment: Novo Nordisk (3.5 / 6) Interactivity: Nokia (6.5 / 8) and (6) Challenge for the future: from reporting to Dialogue & contacts: Atlas Copco, Danske Bank, communicating Metso and SCA (7 / 9.5)

The CSR Online Awards 2011 found in general that non- financial reporting – whether in a standalone report or integrated into the annual report – has become standard Nordic performance in a European context practice for almost all of Europe’s biggest companies. Among the 100 companies assessed in the European ranking, for example, all provided some form of social The average of the 40 Nordic companies taken into and environmental reporting on their corporate website consideration was 43 points. This compares with an and four out of five had a CSR section at the first level of average of 50 points for the European ranking, which navigation of their corporate website.

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In the Nordic region, the same general trend is true: have been penalized in our research,” commented the CSR Online Awards 2011 Nordic research found Karim Bruneo, CSR consultant at Lundquist. “A once- that 63% of companies have a CSR section at the first a-year report is unlikely to be the most effective online level of navigation of the corporate website and only channel for a wide range of stakeholders.” 15% have no report or fail to explain that non-financial information is available in the annual report. CSR Online Awards 2011: top ten in the Of the companies considered, 28% presented an Nordic region HTML version of their CSR report (or of their integrated annual report) while 45% stuck to a PDF version only. 1 Novo Nordisk (65 points) The remaining 13% of companies are reporting directly 2 Danske Bank (59) within the corporate website pages, an optimal solution known as web-based reporting, which saves users 3= Atlas Copco (58.5) having to navigate both the corporate website and the 3= Metso (58.5) report for a complete picture (see chart 2). 5 SCA (58) 6= ABB (57) Chart 2: Breakdown of Nordic non-financial reporting by format 6= Nokia (57) (including “integrated” reports) 8 Carlsberg (56.5) 9 Ericsson (56) None or Web-based report not 10 Electrolux (55.5) 13% presented 15%

Top performers in online CSR HTML version 28% comunications PDF only 45% Novo Nordisk achieved 65 points getting the first place in the inaugural Nordic ranking. While the company has long been recognized as a pioneer of integrated reporting, it represents best practice in preserving non-financial information communications through Source: Lundquist CSR Online Awards 2011 the Sustainability section of its corporate website. The company conveys a clear commitment to accountability and its triple bottom line approach. In terms of reporting, the CSR Online Awards found that a majority of the biggest companies in Europe are now Index page of Novo Nordisk’s Sustainability section presenting their non-financial reports online (as HTML versions or web-based reports), rather than only in PDF. In the Nordic region, it now stands at 41%. But this drive towards online reporting is not always catering to the specific needs of online audiences that have emerged from our surveys of CSR professionals and experts.

A number of companies are greatly reducing the information provided in the corporate website section and focusing their online strategy almost entirely on the HTML version of their report. But this choice clashes with the assumptions behind the CSR Online Awards, such as the need for an ongoing relationship with stakeholders and the integration of corporate responsibility within the wider online communications strategy. www.novonordisk.com

“Given the evidence that few stakeholders read reports and the message we’ve received in our surveys from Danske Bank, with 59 points, finished in second users of this information companies adopting this solution position. The company provides its stakeholders with

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exhaustive non-financial content and a high level of Index page of Metso’s Sustainability section navigability and usability.

Index page of Danske Bank’s Responsibility section

www.danskebank.com www.metso.com

Fifth place in the Nordic ranking was taken by SCA, Atlas Copco and Metso tied for third with 58.5 points. which achieved 58 points. ABB and Nokia tied jointly The Swedish company stands out for its user experience in sixth position with 57 points. Carlsberg achieved and effective use of case studies and video. the eighth position with 56.5 points, Ericsson and Electrolux closed out the top 10, respectively with 56 Helsinki-based Metso presents a large number of and 55.5 points. sustainability contacts and presents a high standard of online reporting, including economic aspects. The six Danish companies achieved an average score of 44.8 points while companies from (8) and Index page of Atlas Copco’s Sustainability section (26) perform slightly lower with an average score of respectively 44.2 and 44.3 points.

CSR Online Awards Survey 2011: Building trust in online audiences

The Lundquist CSR Online Awards Survey 2011 was conducted to understand how CSR professionals – people who work regularly on corporate responsibility and sustainability issues – use the internet to get information and exchange views. Following last year’s focus on stakeholder engagement and social media, the 2011 questionnaire examined what elements of online communications help build trust and confidence in users.

A total of 312 people answered the survey, an increase of 22% from 2010 and bringing to more than 800 the number of responses received over four years of surveys. The questionnaire launched on 23 May 2011 www.atlascopco.com drew responses from 37 countries with 58% coming from continental Europe, 14% from the US and Canada, 10% from the UK and Ireland, 7.4% from Nordic countries and 10% from the rest of the world.

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A full 71% of respondents worked outside of major >> Almost half of respondents are very keen to have corporations, being journalists, sustainability an ongoing flow of information from companies consultants and sustainability rating analysts as well about their non-financial performance: they are as people working in academia, think tanks, industry looking for companies to respond to issues in associations and NGOs. the media or public debate and publish updated environmental data, press releases and case While previous surveys have captured the scepticism studies and be active in social media and mistrust with which many people treat companies’ social and environmental claims, this year’s study >> stakeholder sought to identify aspects that make online content There is widespread interest in dialogue more authoritative, credible and reliable in the eyes of , how it influences the decision-making stakeholder points of its users. process and in hearing view

Chart 3: What gives greatest confidence when assessing online CSR information? (% of 166 non-corporate responses, two choices >> YouTube is emerging to become one of the most allowed) used social media channels for CSR – second after LinkedIn – although Twitter is widely used Adherence to 43% principles/guidelines by the most intense social media users; use of 38% Performance data Facebook for CSR is growing too External assurance 32%

Partnership with 25% NGOs External experts’ 24% A summary of the survey results will be sent to all perspectives

Quantitative targets 22% respondents who requested a copy and published on the Lundquist website (www.lundquist.it/research). Membership of 13% sustainability index Other 4%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Source: Lundquist CSR Online Awards 2011

Key findings

>> Half of respondents check corporate websites for CSR-related information at least several times a week, more than one in six doing so on a daily basis

>> The most important aspects for establishing trust and confidence in website users is adoption of international guidelines and frameworks, performance data and information about external assurance

>> Although the survey shows how online audiences are diverse with differing preferences, users repeatedly indicated the importance of data, targets, case studies, governance and policies, as well as information about the environmental impact of a company’s products or services

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Methodology and approach Developing the evaluation protocol

The evaluation criteria are based on a survey sent to CSR professionals, sector experts, stakeholder Assumptions behind the research representatives as well as CSR managers of companies included in the study. The CSR Online Awards are underpinned by a series of assumptions about the essential ingredients for The aim of the annual survey is to identify the essential communicating on the internet. These “pillars” of online information these users look for online and monitor CSR communications are the result of many years’ work trends in the use of website content and social media. with leading European companies on their web strategy and our annual surveys of CSR professionals, experts Answers to the 2011 survey (excluding CSR staff and and stakeholders. other corporate ‘insiders’) were analysed to revise existing criteria, create new ones and to calibrate the Six pillars of online CSR communications allocation of points so as to reward sites that best respond to user needs.

Feedback from the previous editions of the CSR Online Comprehensive: Awards was also taken into consideration when revising A website must satisfy all the requirements of its key criteria. users, eliminating their need to go elsewhere for infor- mation A total of 79 criteria were used (77 in 2010), divided Integrated: into 12 sections and giving a total of 100 points. The A website must work as a whole and communicate evaluation protocol was divided into three macro areas: a coherent, interconnected story across its different sections (About us, CSR, corporate governance, IR, >> Content (seven sections totalling 46 criteria and careers, etc.) and in related off-site channels (in social 58 points) media in particular) Open: >> User Experience Website content must be open to feedback, discussion (two sections of 13 criteria for and debate, including via social media, with companies 18.5 points) demonstrating that outside opinions are heard and taken into consideration >> Ongoing Engagement (three sections with 18 User friendly: criteria totalling 22.5 points) Users must be able to find what they are looking for through intuitive and jargon-free navigation, and This split reflects the fact that the most important content must be organised in an optimal way for on- aspect of online communication is content, but also screen reading that success involves using the internet effectively to Engaging: make CSR information easily available and to facilitate A website should employ a range of multimedia tools – interaction between website owner and user. including video, animation, images, (info)graphics – to draw the audience in, tell a dynamic story An extra point was available to reward useful information Concrete: or interesting features of websites that were not covered Users want fact, relevant evidence as well as pertinent in the criteria. and credible data, not self-promotion, empty commit- ments and marketing messages A penalty point was subtracted in the event of negative aspects that were not adequately penalised in the criteria, including out-of-date information, links to old reports and contorted navigation.

The evaluation protocol used in the CSR Online Awards is the same for all country and regional rankings, meaning that all results are directly comparable.

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Website assessments Macro area/Section Criteria Points The CSR Online Awards judges the quality of Contents online corporate communications of publicly traded Overview 7 9.5 companies, organised into a series of national and Reporting 6 12 regional rankings. Lundquist draws on recognised Environment 7 8.5 stock indexes to draw up its rankings and no company can opt in or out of its own accord. Social 12 12.5 Ethics & governance 6 6.5 In 2011, the focus has been concentrated on Europe SRI 5 6 with the creation of a new flagship ranking of the 100 Conventions & associations 3 3 biggest companies in the region. After two stimulating and eventful editions, we have discontinued the TOTAL 46 58 “Global Leaders” ranking, which included a selection of companies from the Dow Jones Sustainability Index. User experience Navigability & usability 8 12.5 This is because we believe that with the mainstreaming Visual communications 5 6 of environmental, social and governance disclosure, TOTAL 13 18.5 CSR information should be provided by all large companies and not be the preserve of a few “leaders”. Ongoing engagement To maintain a global outlook and capture wider trends, we will also undertake a ranking of top U.S. companies Interactivity 7 8 later in the year. News & resources 6 5 Dialogue & contacts 5 9.5 The rankings were defined as follows: TOTAL 18 22.5 >> In Europe, all members of the FTSE Eurotop 100 Commendable information 1 1 Index as of 27 May 2011 (the index contained 106 securities and 100 companies, although Unilever Penalty point 1 -1 was counted as two separate entities: for the purpose of our research, Unilever was counted GRAND TOTAL 79 100 as a single company having a single website) Source: Lundquist CSR Online Awards 2011 >> In Austria, the 20 members of the benchmark Changes to the criteria in 2011 ATX index as of September 2011, according to the Vienna Stock Exchange website As in past years, substantial changes were made to the evaluation protocol to make it better reflect user >> In Germany, the 30 components of the benchmark preferences and to keep pace with trends in online DAX index as of June 2011, according to the communications. Deutsche Börse website

Above all, an effort was made to reward those companies >> In Italy, the 50 largest companies by market providing the most critical information and reduce the capitalisation in the FTSE Italia All-Share Index as weighting of criteria that add less value or have become of the close of trading on 9 June 2011 more common practice. >> For the Nordic region, the 40 members of Eight criteria were deleted from the protocol in 2011 and the OMX Nordic 40 Index as of June 2011, as 10 new criteria were introduced, adding a net two new published on the OMX website criteria.

The definition was revised for another 13 criteria while >> In Switzerland, the 20 members of the benchmark the scoring of a number of others was amended in light SMI index as of June 2011, as published by the of responses to the survey. SIX Swiss Exchange website

>> In the U.K., the 30 largest companies by market capitalisation in the benchmark FTSE 100 Index as of the close of trading on 9 June 2011

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In total, about 220 websites were evaluated (+22% from online source of non-financial information (hence no 2010). The criteria were used to evaluate the English conflict between report content and website content and language version of the corporate websites of these generally no change in the menu structure and page companies with the exception of the Italian ranking, layout, no change in the basic URL of the corporate site, which evaluated the Italian version of the sites. The no need to open another window or tab in the browser). seven Italian companies included in the Europe ranking were evaluated in English only. By contrast, some companies are focusing their online strategy almost entirely on the HTML version of their The assessments were carried out over a period report. In many cases, the content of the website section stretching from late June to September 2011, with is reduced to a minimum as a result. In line with our the official closing date of August 1 communicated to methodology, companies adopting this approach tended all companies in the research (October 7 for Austria). to receive low scores in our evaluations: we recognise Each company’s website was evaluated twice by two that that they may have otherwise commendable online different Lundquist analysts. Top-ranking companies CSR reports. were evaluated a third time.

The assessment was restricted to the CSR (or equivalent) section of the website to reflect the fact that this is a point of reference for users interested in these issues. Content outside of this area (for example, in corporate governance, investor relations or career sections) was evaluated only if there was a direct link from the CSR section to the relevant page or document.

Although this rule may seem restrictive, it aims to reward those websites that fully integrate CSR-related information, for example with cross-links. Given the size of many corporate websites, users should find the necessary “signposts” to find the information they are looking for. In the same way, the content of mini- sites was evaluated only in cases where users were clearly directed there in association with CSR-related information.

Where companies had more than one section of the website (at the same menu level) dealing with CSR- related issues, all of these sections were evaluated. For example, some companies split their information between Citizenship and Environment sections.

The contents of CSR reports (interactive or in PDF) were excluded from the assessments because the research aims to understand how corporate websites are used to communicate CSR to a broad audience and not to assess reporting per se.

As above, content was evaluated whenever a direct, specific link was provided to the relevant page or pages in the report as a way to guide users to further information (generic links to the report homepage or to entire sections were not considered). PDF documents now allow links to specific pages.

Report contents were evaluated directly only in the case of web-based reporting, when the report was fully integrated within the CSR section of the corporate website: this reporting format involves offering only one

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CSR Online Awards Nordic 2011

Position 2011 Company name Country Score 2011 Position in Europe ranking

1 Novo Nordisk* DK 65 12 2 Danske Bank DK 59 - 3= Atlas Copco SE 58.5 - 3= Metso FI 58.5 - 5 SCA SE 58 - 6= ABB* SE/CH 57 30= 6= Nokia* FI 57 30= 8 Carlsberg DK 56.5 - 9 Ericsson* SE 56 33 10 Electrolux SE 55.5 - 11= SKF SE 52.5 - 11= Volvo* SE 52.5 44= 13 AstraZeneca* SE/UK 51.5 47= 14 * FI 49 56= 15 SE 48 - 16 Skanska SE 47 - 17= UPM FI 45.5 - 17= H&M* SE 45.5 65= 19= Wartsila FI 45 - 19= Teliasonera* SE 45 67 21= SEB SE 44.5 - 21= FI 44.5 - 23 SE 44 - 24 ASSA ABLOY SE 43.5 - 25= Boliden SE 43 - 25= FI 43 - 25= SE 43 - 28 SE 40.5 - 29 SSAB SE 37.5 - 30 Scania SE 37 - 31 DK 36 - 32 A.P. Moller Maersk* DK 35 83= 33 * SE 31.5 87 34 Alfa Laval SE 31 - 35 Svenska SE 26,5 -

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Position 2011 Company name Country Score 2011 Position in Europe ranking

36 Investor SE 19 - 37 GETINGE SE 18 - 38 FLSmidth DK 17.5 - 39 Hexagon SE 15.5 - 40 Sampo FI 11 -

* Companies included in the CSR Online Awards Europe 2011

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CSR reports & consulting services

Developing your online CSR communications strategy

Lundquist has supported leading European companies Stakeholder perception audits in a variety of industries on their corporate responsibility communications, providing services ranging from CSR- Orientation in CSR communications and online reporting specific benchmarking and action plans to website architecture and content strategy. Page-by-page analysis of CSR site & architecture proposals Message and content development CSR Online Awards Report Web-based reporting The complete findings of the CSR Online Awards 2011 Copy & corporate voice analysis are presented in a report (150+ pages) analysing Online content creation the latest trends in online CSR communications, Social media strategy illustrated with more than 250 best practice examples. The report explains the evaluation protocol’s 79 criteria and provides the results of the 2011 rankings plus Extracts from CSR Online Awards Report and assessment complete answers to our survey of 312 CSR experts.

Developing your CSR website

In order to develop your online CSR communications towards international best practice, a tailored analysis draws on the 79 criteria to provide concrete suggestions for improvement, even for companies not included in our 2011 rankings.

In-depth focus reports are available on critical aspects such as online reporting, ongoing engagement and social media. The wealth of data generated by the research allows for detailed benchmarking by industry or country.

About Lundquist Contact

Lundquist is a strategic communications consultancy James Osborne specialising in online corporate communications. Our Head of CSR communications extensive research programmes provide intimate knowledge [email protected] of international best practice and user requirements, Tel: (39) 02 4547 7681 / 2 underpinning consulting services covering financial and non-financial content strategy, the corporate website and social media. To order a copy of the full CSR Online Awards Report 2011 Drawing on our expertise in corporate responsibility, or for information about a website assessment, write to: investor relations and employer branding, we assist you [email protected] in managing communications challenges. Ultimately, we support your endeavours to promote transparency and www.lundquist.it accountability through effective use of the web. www.lundquist.it/blog Measure, Manage, Change. www.twitter.com/Lundquist www.slideshare.net/Lundquistsrl

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