Corporate Responsibility
Responsibility is a significant competitive advantage for technology companies. To ensure sustainable, responsible growth, an EU-wide regulatory framework is needed for corporate responsibility. Global ground rules are needed for responsibility monitoring and reporting.
TIF’s member companies want to be pioneers of corporate responsibility. Responsibility is an important part of member companies’ strategy and business and provides a significant competitive advantage. Our members want their business to have a broad, positive societal impact. Businesses’ growth and development must be sustainable for the environment and society. With the help of responsible business, we strengthen the confidence of societal stakeholders in our industry, promote sustainable development and create a new business opportunities and jobs. TIF and its member companies have compiled a responsibility policy for the industry.
- An EU-wide regulatory framework for corporate responsibility should be introduced. Fifty-four per cent of Finnish exports goes to other EU countries. Therefore, Finnish companies would suffer if each EU member state were to create its own, different regulation and if our companies had to operate and report in different ways in each country.
- Global ground rules are needed for responsibility monitoring and reporting. Corporate responsibility questions are primarily global, so only global solutions can be a viable option for regulating it. TIF encourages companies to set goals for sustainable development of corporate responsibility, as well as to openly report on action taken and results achieved.
- Regulation must be functional, respond to targets and encourage businesses to act responsibly. TIF’s member companies are already voluntarily taking a great number of responsibility steps (link to Power of Responsibility report). Indeed, legislation to promote responsibility must genuinely respond to set targets. It must not increase unnecessary bureaucracy or costs for businesses, but encourage them to find the best methods to become more responsible in their operations. When preparing legislation, lawmakers must always consider existing or forthcoming regulation to avoid overlaps and ensure the best possible synergy.
