Glow launches world-first Social Responsibility Score

Online research platform Glow has launched the Social Responsibility Score (SRS), a world-first benchmark for measuring consumer perceptions of Environmental, Social and Governance (ESG) performance.

The single score reflects consumer perspectives on a brand’s ESG performance, relative to its industry and competitors, across 13 drivers.

So far, Glow has measured 200 brands and aims to complete SRI scores for 400 well known brands by the end of the financial year.

According to Tim Clover, founder and CEO of Glow, “[The SRI] has been validated against key brand performance metrics including trust, propensity to pay a premium and revenue growth, based on over $1 trillion of sales data.”

As consumers and investors continue to put pressure on enterprises and boards to fast-track their ESG agendas, transparency in these commitments is lacking.

“All Australian boards, company directors and the C-Suite have a laser focus on meeting governance standards and non-listed companies are actively pursuing sustainability ahead of profit. Most critically, consumers are choosing brands that are acting responsibly over those that aren’t,” said Clover.

“What consumers think of companies and brands' Environmental, Social and Governance (ESG) footprint has never been more important.”

The scores so far reveal that 64 percent of Australian consumers consider social and environmental responsibility as a key factor in purchasing from a brand, and many are even prepared to pay a premium for brands that are proven to be more socially responsible.

One company that has already received its Social Responsibility Score is Cadbury’s parent company Mondelez, whose score is 22 percent ahead of the already highest performing industry, food and groceries.

According to Paul Chatfield, VP marketing ANZ at Mondelez, “Since the Cadbury family founded their iconic business back in 1824, we’ve always had a strong purpose. This remains the case today where the challenges faced by our planet are clear for us to see.

“Our consumers have never been better informed or enjoyed so much choice on supermarket shelves. Cadbury fans rightly expect us to be making a positive contribution to address the challenges they see in their communities.”