FOR IMMEDIATE RELEASE
Wednesday, June 18, 2003
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Department of Commerce
CONTACT: Trevor Francis
(202) 482-4883
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Evans Welcomes Creation of Corporate Stewardship Award |
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Washington, D.C.—U.S. Secretary of Commerce Don Evans today welcomed the
creation of the Corporate Stewardship Award. The award grew out of the
Secretary’s vision to spotlight and celebrate the accomplishments and good
corporate practices of American businesses around the world. The award will be
given by the Center for Corporate Citizenship (CCC) of the U.S. Chamber of
Commerce and will be presented by Secretary Evans on December 4, 2003 in
Washington, D.C. during the Center’s Annual Corporate Citizenship Award
Ceremony.
“This award is intended to recognize and celebrate small, medium and large
businesses that balance their responsibilities to their employees and
shareholders with their responsibilities to their communities,” said Evans.
“American businesses are the stewards of capitalism and our economic system.
This designation will celebrate those in the private sector that understand
their responsibility to our economy and heed President Bush’s call to serve
others.”
"By including volunteer service as a criterion for the Corporate Stewardship
Award, we can recognize the American companies who are answering the
President's call to service by making sustained commitments to our
communities," said John Bridgeland, Director of the White House's USA Freedom
Corps office. "It is through these commitments that we are able to build a
stronger society and foster a culture of service, citizenship and
responsibility that will last for decades to come."
Presented by the Secretary of the U.S. Department of Commerce, this Award
seeks to recognize companies that exemplify the highest ideals of corporate
stewardship. Corporate stewardship reflects a philosophy that emphasizes the
proper use and allocation of a company’s resources and unites its ethical
values and economic mission. As such, the Corporate Stewardship Award rewards
companies for their total performance and contribution to economic, community
and social progress. To be considered for the award, companies must
demonstrate their commitment and accomplishments in categories that include
service and volunteerism, business ethics, corporate governance and the
environment. Award candidates must submit their application along with other
relevant documentation to the CCC by October 3, 2003.
CRITERIA FOR THE CORPORATE STEWARDSHIP AWARD
- Financial Results
- Above average economic performance for the most recent five year
period as compared to the rate of return for the S&P 500 Index
- Business Ethics
- Corporate statement of values or ethical credo
- Employees
- Jobs created over 5 year period
- Documentation of employee health and safety benefits
- Documentation of hiring diversity
- Documentation of employee moral, job satisfaction, and employee
retention
- Customers
- Documentation of customer service policy and practices
- Strategic use of customer information systems to support decision
making
- Corporate Governance
- Documentation of corporate governance policy and practices consistent
with President Bush’s Ten Point plan to improve corporate responsibility
and protect America’s shareholders
- Worldwide Markets
- Documentation of corporate engagement in overseas communities
- Documentation of ethical supply chain management practices
- Volunteer Service
- Documentation of community involvement policy practices (i.e., Cash
Grants, Volunteer Programs)
- Senior management leadership and commitment
- Documentation of Social Return on Investment (S-ROI) (if applicable)
- System tracks employee volunteer service hours in employer-sponsored
volunteer activities
- 10% of employees should conduct at least 40 volunteer service hours in
a calendar year
- Environment
- Documentation of corporate environmental policy and practices
- Security
- Documentation of corporate security procedures and risk management
practices
The Secretary will present the award to
three companies:
- Annual revenues less than $50 million
- Annual revenues between $50 million and $500 million
- Annual revenues greater than $500 million
President Bush created the USA Freedom Corps office at the White House to
foster an American culture of service, citizenship and responsibility. Through
the USA Freedom Corps, President Bush wants to help every American answer the
call to service by strengthening and expanding service opportunities to
protect our homeland, support our communities and extend American compassion
around the world. Interested volunteers can find information on the USA
Freedom Corps at
www.usafreedomcorps.gov or by calling 1-877-USA-CORPS.
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