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<p><a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a></p><div type="image" title="Wind turbines spin amid dark weather clouds in Ireland" height="3400" width="5100" msid="92369546" hostid="261" sizebytes="299376"></div><ul class="summary-list"><li>Many companies are taking action toward a more sustainable future, but are not taking the step to report on their efforts and outcomes.</li><li>There are concrete steps that companies can take to start disclosing their <keyword id="12011554" type="UNKNOWN" weightage="60" keywordseo="esg" source="Orion">ESG</keyword> initiatives and data.</li></ul><p>In 2018, Rachel Hutchisson, vice president of global social responsibility at <keyword id="14255148" type="UNKNOWN" weightage="60" keywordseo="blackbaud" source="Orion">Blackbaud</keyword>, a technology company that makes cloud software for non-profits and other organizations, approached her CEO about putting out a sustainability report.</p><p>The company had a long history of philanthropy and volunteerism, but nothing was tracked or shared with the public. Reporting, Hutchisson felt, would help Blackbaud show its investors, employees, and customers the progress it was making around environmental, social, and governance (ESG) issues, while also helping it define its ESG identity.</p><p>"We were doing all this work to support what we sell and we're telling inspiring customer stories, but we weren't talking about us and showing off that we're a place that really cares," she said. "I wanted to do a social responsibility report to make sure our leaders really understood what we were doing."</p><p>Blackbaud released its first report that year, which Hutchisson admits was "pretty light," but it's grown to become a multifaceted document that outlines everything from the way it gives back to its communities to diversity and inclusion metrics to how its reduced its carbon footprint. As Blackbaud has grown its <keyword id="14255147" type="UNKNOWN" weightage="60" keywordseo="esg-reporting" source="Orion">ESG reporting</keyword> program, so too have other companies, both private and public. According to Deloitte's <a href="https://www.iasplus.com/en-ca/news/regulations/2021/s-p-500-and-esg-reporting">Center for Audit Quality</a>, 95% of S&amp;P 500 companies have publicly available ESG information.</p><p>While a lot of companies are embracing ESG — many are developing social purposes, hiring more diverse employees, and reducing their environmental footprint — reporting takes their actions to the next level. Like financial reporting, it includes data stakeholders can use to see if a company is following through on its ESG commitments, which then helps hold the company accountable, said Marc Siegel, EY Americas corporate and ESG reporting thought leader.</p><p>While reporting is just good practice, he said, more people are demanding to see actual metrics. EY found that 90% of investors want consistent reporting of ESG performance measures, while employees and management want reporting to help them run their businesses better. Regulators are also moving to mandate the inclusion of some ESG metrics within a public company's financial reporting.</p><p>"There are a lot of reasons to report, but if you think about what gives a company a valuation it's a multiple on earnings, which includes a bunch of stuff that's ESG even if it's not labeled as such," Siegel said. "Companies get multiples because of how they're going to react to a lower carbon economy, the productivity of their employees, their belief in management. That's E, S, and G. It helps all stakeholders understand the progress you're making as a business."</p><div type="image" title="Headshot of Rachel Hutchisson, vice president of global social responsibility at Blackbaud" height="768" width="768" msid="92369547" hostid="261" sizebytes="28158"></div><h1><strong>How to start reporting </strong></h1><p>Creating an ESG reporting program involves a lot of conversation, developing a deeper understanding of your business, detailed data-collecting and more. Fortunately, you don't have to do it all at once, Siegel said, who suggests starting small and expanding as time goes on. You have to start somewhere, though: Here are seven steps to get you going</p><h2><strong style="color: #000000;">1. Think about why you want to report</strong></h2><p>Start by thinking about why you want to report progress and who you want to report it to, said Sandy Peters, the CFA Institute's head of financial reporting policy. "Do you want to give your investors what they want? Is it going in a securities filing document? Is it for employees?" she said. "ESG reporting is about communication so think about who you want to communicate to and why you want to report in the first place." A lot of public companies, for instance, only report because ratings agencies are now baking ESG issues into their scores, while others know it's important to their customers.</p><h2><strong>2. Do an internal ESG audit</strong></h2><p>Companies may already be participating in ESG activities, whether they know it or not. Many businesses, for instance, give employees time off to volunteer, support causes their staff care about, or have workplace health and safety policies in place. When Hutchisson began her reporting journey, she started looking at what Blackbaud was already doing. That helped her see what the company wasn't measuring, but the audit also helped inform its first report. "You can start reporting without having to be technical about it by sharing your own story," she said.</p><h2><strong>3. See what others are doing </strong></h2><p>With so many companies now publishing ESG metrics on their websites, it's a good idea to take a look through other reports and see what's being reported. At the same time, see what the rating agencies, such as S&amp;P and Fitch, are looking for – they <a href="http://spglobal.com/_assets/documents/ratings/esg/esg_evaluation_brochure_digital.pdf">tend to want</a> information on greenhouse gas emissions, workforce diversity, waste and pollution, and much more.</p><p>Also, consider looking at the new International Sustainability Standards Board's standards. It has several broad topics and industry-specific metrics to consider. "When companies say, it's overwhelming I don't know where to start, well we say you can start with these topics — it's manageable," said Neil Stewart, director of corporate outreach at the Value Reporting Foundation.</p><h2><strong>4. Do a materiality assessment </strong></h2><p>Once you've done research on what you may want to report, you need to do a materiality assessment, which involves figuring out exactly what you want to report on, Siegel said. You're not going to discuss everything – there are an endless amount of metrics to consider, many of which won't apply to your business.</p><p>This process, which should ideally be done by an ESG committee of people from across various departments, involves interviews with stakeholders – investors, executives, staff, clients, and community members – to find out what ESG issues are most important to tackle. "It could come in the form of a heat map with all different issues, such as ones that are most important to stakeholders and ones that have the highest impact on value," Siegel said.</p><h2><strong>5. Connect your ESG metrics with your financial ones </strong></h2><p>Part of building a reporting program is ensuring your ESG metrics relate to financial performance, noted Siegel. For instance, it's well understood that diverse employee populations bring more perspectives to the table, which then spurs innovation. It's important to connect the two: What kind of financial boost from increased innovation could you get from hiring more diverse staff?</p><p>"Think of it like a mosaic," he said. "The ESG data shows one part of the picture, while the financial information shows another. Put it all together and it brings the picture into focus."</p><h2><strong>6.  Start collecting data </strong></h2><p>Once you know what you want to measure, you need to start measuring it. There are many different ways to gather information, whether it's through employee and customer surveys, generating reports from cloud-based technologies, such as human capital management software that can present diversity metrics or enlisting outside help to track carbon emissions.</p><p>Your company will need to think carefully about how best to gather and then analyze information, but Peters also said businesses need to develop internal controls so they know the information they're collecting is accurate. For instance, she said it's important to have the right people accessing data and that your software is tracking the proper metrics so you can be sure everything is correct.</p><h2><strong style="color: #000000;">7. Report and review</strong></h2><p>Eventually, it will come time to report. The way you present your information and to which stakeholders will depend on the objectives you discussed at the start. Blackbaud, as with most companies, reports annually, but you could also report quarterly alongside your financials. Most reports show how specific categories have improved over the years, just like a financial-focused annual report would, but they also tell the story of the company's ESG journey.</p><p>When your first report is finished, you'll want to start some of these processes over again. Blackbaud just completed a "mini-material" assessment, where they went back to some stakeholders to see if there were other ESG metrics to consider.</p><p>"We've added significantly in the third and fourth version of our report — it's like building muscle. It can be really intimidating, but you don't have to do it all overnight," Hutchisson said.</p>

ESG reporting: A guide for your company to get started

<br /><ul><li>A third-party cloud service provider <keyword id="9634302" type="UNKNOWN" weightage="20" keywordseo="blackbaud">Blackbaud</keyword> was hacked in May but only disclosed the breach on July 23.<br /></li><li>It manages the IT services for the University of York, University of London, <keyword id="312623" type="ORGANIZATION" weightage="20" keywordseo="Oxford-College">Oxford college</keyword> and other educational institutions.<br /></li><li>Blackbaud claims it was able to get the hackers out of its system but only after “a subset of data” was copied off the servers, which is why they had to pay the ransom.</li></ul>One of the world’s leading non-profit software companies was the target of a <keyword id="6465154" type="UNKNOWN" weightage="20" keywordseo="ransomware-attack">ransomware attack</keyword>. A fact they only revealed in July even though the attack was originally detected in May by the company. <br /><br />The hack has reportedly affected universities, non-profit organisations, and foundations. Blackbaud claims that once it spotted the cybercriminals, the company’s IT experts were able to expel the hackers from the system. <br /><br /><strong>Blackbaud pays the <keyword id="6362094" type="PERSON" weightage="20" keywordseo="Ransomware">ransomware</keyword><br /></strong>Before the hackers got locked out, the attackers were able to remove “a copy of a subset of data”.<br /><br />The group behind the attack then asked for compensation with the threat of releasing the data to the public. “Because protecting our customers’ data is our top priority, we paid the cybercriminal’s demand with confirmation that the copy they removed had been destroyed,” said Blackbaud in a <a href="https://www.blackbaud.com/securityincident">statement</a>. <br /><br />The payment was made to ensure that the data will not be circulated, misused, or otherwise be made publicly available, according to the company. The company asserts that no credit card, bank account, or social security information was stolen by the hackers. <br /><br /><strong>List of universities that have confirmed being a target of the attack:<br /></strong><br /><ol><li>University of York<br /></li><li>Oxford Brookes University<br /></li><li>Loughborough University<br /></li><li>University of Leeds<br /></li><li>University of London<br /></li><li>University of Reading<br /></li><li>University College (Oxford)<br /></li><li>Ambrose University (Canada)<br /></li><li>Rhode Island School of Design (US)<br /></li><li>University of Exeter<br /></li></ol>There has been a 20% jump in ransomware attacks globally, second only to Internet-of-Things malware as per SonicWall’s <a href="https://www.sonicwall.com/2020-cyber-threat-report/">Cyber Threat Report 2020</a>. The attack on Blackbaud is inline with more operators increasing their focus on ‘soft targets’ like education, hospitals and public administration agencies. <br /><br /><strong>The two-month wait<br /></strong>The bigger issue to be addressed is that the General Data Protection Regulation (GDPR) has asserted that companies must report data breaches to authorities within 72 hours of discovery — or face the consequences in the forms of fines. <br /><br />The <a href="https://www.bbc.com/news/technology-53516413">BBC</a> reports that the UK's Information Commissioner's Office (ICO), as well as the Canadian data authorities, were only informed about the breach last weekend, which is much later than when Blackbaud originally uncovered the threat.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/tech/enterprise/news/82-of-companies-in-india-were-hit-by-ransomware-they-paid-rs-8-crore-on-average-to-save-themselves/articleshow/75827204.cms">82% of companies in India were hit by ransomware — they paid ₹8 crore on average to save themselves</a><br /><br /><a href="https://www.businessinsider.in/tech/enterprise/news/cognizant-ransomware-attack-impact-to-get-worse-in-q2-and-coming-quarters/articleshow/75644164.cms">The Cognizant Maze ransomware saga will show its full impact for many months to come</a><br /><br /><a href="https://www.businessinsider.in/tech/news/priyanka-chopra-lady-gaga-and-madonna-ransomware-attack-by-revil-known-to-follow-through-on-blackmail-threat/articleshow/75708155.cms">Ransomware attack puts Priyanka Chopra, Lady Gaga, Madonna and other celebrities’ data at risk — and REvil hackers are known to follow through on their threats</a><br /><br /></strong><br />

Ransomware hits IT services giant — they paid the ransom even after locking hackers out of the system

<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"><html><body><p class="p1"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Competitive pay. Great benefits. Free massages, Ping-Pong tables, and nap stations. For years, we've heard about the luxurious amenities companies invest in to keep employees happy and productive. But as much as workers appreciate perks, they also love the chance to give back. As it turns out, a great way to retain employees is to keep them engaged with their community.</p><p class="p1">According to a <a href="http://www.conecomm.com/csr-and-millennials" target="_blank">survey from Cone Communications</a>, corporate social responsibility affects 78% of millennials' decisions about where to work. And helping employees get involved in a charitable event with organizations such as the <a href="http://www.cancer.org/involved/participate/index" target="_blank">American Cancer Society</a>, can be as much of a perk as vacation time and those Ping-Pong tables. A <a href="http://www.unitedhealthgroup.com/Social%20Responsibility/Volunteering.aspx" target="_blank">UnitedHealth Group and the Optum Institute study</a> found that volunteering can make people feel physically and emotionally better.</p><p class="p1">Here are four ways to keep employees engaged through charitable efforts:</p><p class="p1"><strong>1. Facilitate volunteerism.</strong></p><p class="p1">Employees feel great about themselves when they volunteer- but finding the time to do so can be tough. Reserve time during regular work hours for employees to get into the community and donate their time to a cause. Invite them to spend an extra long lunch break serving at a soup kitchen, or leave the office a few hours early to sort donations for a local charity.</p><p class="p1"><strong>2. Reward community engagement.</strong></p><p class="p1">Some employers go a step further, rewarding their staff with paid time off for hours spent volunteering. Technology company Blackbaud has a <a href="http://www.businessdoinggood.com/2014/02/volunteer-for-vacation-encouraging-employees-to-serve/" target="_blank">Volunteer for Vacation</a> policy, which allows employees to earn eight hours of paid leave for every 16 hours of volunteer time. Each worker can earn up to three extra vacation days a year.</p><p class="p1"><strong>3. Empower employee giving.</strong></p><p class="p1">Don't just tell workers where their employer's charitable donations are going; let them help decide. Some companies ask employees to weigh in on which organizations corporate donations will support, while others give each worker a set amount to donate to the charity of their choice. And that choice matters. According to an <a href="https://www.charities.org/facts-statistics-workplace-giving-matching-gifts-and-volunteer-programs" target="_blank">America's Charities report</a>,employee participation in giving increases when they are allowed to choose a charity to support.</p><p class="p1"><strong>4. Partner with nonprofits.</strong></p><p class="p1">Nonprofits are in constant need of different volunteers with a variety of skill sets, and employers who want to engage their employees are always looking for volunteer opportunities. An ongoing relationship with a nonprofit allows a company to fill both of those needs. For example, corporations such as Chevrolet and General Motors have engaged their employees and dealerships to work with <a href="http://www.acsworkplacesolutions.com/corporate-impactawardsphilanthropy-details.asp" target="_blank">the American Cancer Society</a> to form walk teams for Society events, such as <a href="http://makingstrides.acsevents.org/site/PageServer?pagename=MSABC_CY15_FindAnEvent">Making Strides Against Breast Cancer.</a></p><p class="p1">Giving employees fancy perks certainly helps them feel taken care of by their company. But providing them with opportunities to take care of their community can create even deeper satisfaction with their workplace. And that's a plus for both employers and their communities.</p><p class="p1"><a href="http://makingstrides.acsevents.org/site/PageServer/?pagename=MSABC_CY15_HROutreach" target="_blank"><strong>Get your company involved in the Society's Making Strides Against Breast Cancer walks.</strong></a></p><p class="p1"><em>This post is sponsored by the <a href="http://www.cancer.org/" target="_blank">American Cancer Society.</a></em></p><p class="p1"><span>Find out </span><a href="http://www.businessinsider.com/sponsor-posts">more about Sponsored Content</a><span>.</span></p></body></html><p class="tagline"><strong>Follow BI Studios on <a href="https://twitter.com/bi_studios_" target="_blank">Twitter</a> and <a href="https://www.facebook.com/BusinessInsiderStudios" target="_blank">Facebook</a>.</strong></p>

Here's a surprising way to keep your employees happy

<p><div class="image-container float_right click-to-enlarge" style="width:368px"><div class="image"><a title_source="Aepoc, CC." title_caption="" class="zoomin" href="http://static1.businessinsider.com/image/5150b844eab8eaa341000013-960/facebook-thumbs-up-1.jpg"><span class="click-to-enlarge-icon" title="Click to enlarge"></span></a></div><p class="source"><a href="http://www.flickr.com/photos/aepoc/">Aepoc, CC.</a></p></div>About three years ago, when <keyword id="6354576" type="CITY" weightage="60" keywordseo="Facebook">Facebook</keyword> marketing suddenly became popular, a number of studies attempted to quantify how much, on average, a single "Like" on Facebook might be worth to a marketer.<br /><br />The numbers varied wildly, of course, depending on the variables you use to calculate the value.<br /><br />As time went by, marketers became less interested in simply amassing likes and followers. One of Facebook's biggest ad clients,  TBG Digital CEO Simon Mansell, once famously said, "<a href="http://www.businessinsider.com/advertising-on-facebook-graph-search-2013-1">The mindless pursuit of likes on Facebook is stupid</a>."<br /><br />But with the <a href="http://www.businessinsider.com/facebooks-graph-search-likes-and-advertisers-2013-1">launch of Graph Search</a> likes have become newly valuable. Graph Search is powered in part by your friends' likes. The more likes a brand has among your friends, the more prominently its search results will be. <br /><br />This made us curious about the historic dollar value of a like. So we collected all the results here and ranked them in descending order:</p>
<h1>$214.81</h1>
<p>Blackbaud, NTEN, and Common Knowledge, in their <a href="http://www.npengage.com/social-media/nonprofit-value-facebook-like/">2012 Nonprofit Social Networking Benchmark Report</a>, said the average value of a like for non-profits seeking to attract donations, calculated based off total revenue received from a supporter over the 12 months following acquisition, was $214.81.</p>
<h1>$136.38</h1>
<p>A study by Syncapse, an enterprise <keyword id="6354632" type="COMPANY" weightage="60" keywordseo="Social-media">social media</keyword> marketing management company, quantified fans' and nonfans' product spending, loyalty to a company, propensity to recommend a company, brand affinity, media value, and acquisition cost, <a href="http://www.econtentmag.com/Articles/ArticleReader.aspx?ArticleID=76422">according to eContentmag</a>. On average, a Facebook fan is worth $136.38 more than a customer who is a nonfan.</p>
<h1>$22.93</h1>
<p><a href="http://www.syncapse.com/value-of-a-facebook-fan-an-empirical-review/">Syncapse's research</a> also found that a single recommendation from these influencers can generate $22.93 in "earned media value" (i.e. publicity) for a brand.</p>
<h1>$8.00</h1>
<p>ChompOn, a platform for companies that need a group buying/flash sale platform, <a href="http://www.chompon.com/chompon_social_action_value.pdf">analyzed its traffic</a> and found that each like could be worth $8.</p>
<h1>$3.60</h1>
<p>Vitrue, another social media marketing management firm, found that a fan base of 1 million translates into at least $3.6 million in equivalent media over a year, <a href="http://www.adweek.com/news/technology/value-fan-social-media-360-102063">Adweek reported</a>.</p>
<h1>$1.34</h1>
<p>Eventbrite <a href="http://blog.eventbrite.com/social-commerce-2/">analyzed its ticket sales traffic</a> and found a like drives on average $1.34 in ticket sales.</p>
<h1>$1.07</h1>
<p><a href="http://upstart.bizjournals.com/companies/startups/2012/08/28/what-is-a-facebook-like-worth.html?page=all">Diamond Candles, a Durham, North Carolina-based company</a> with more than 143,000 Facebook likes, found each engagement on the social network was worth 1 cent, and every “advocacy,” in which someone actually recommended the product, was valued at $1.07.</p>
<h1>21 cents</h1>
<p>Ecwid, <a href="http://www.pcworld.com/article/2011309/whats-a-facebook-like-worth.html">an e-shopping cart provider</a> and the self-proclaimed "second largest store-building application on Facebook," found that its e-commerce storefronts on Facebook generate 21 cents per like. For the top 10 percent of stores by sales volume, the value of a "Like" increased to $1.20 a pop, soaring to $21.49 in the top one percent of stores.</p>
<h1>$0.00</h1>
<p>Forrester, the research group, says each <a href="http://blogs.forrester.com/augie_ray/10-07-08-what_value_facebook_fan_zero">like is actually worth zero</a>. Likes are more akin to "potential energy" in an object that's being held aloft. None of the energy is valorized until something engages the object, which may then fall to earth expending kinetic energy as it goes.</p>
<p> </p>

You Searched For "blackbaud" and got 4 results

ESG reporting: A guide for your company to get started

Bryan Borzykowski

Ransomware hits IT services giant — they paid the ransom even after locking hackers out of the system

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Here's a surprising way to keep your employees happy

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What Is A Facebook 'Like' Actually Worth In Dollars?

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