20% of Listed Companies Have Obtained RSE Certification, Such as ISO 14001 or ISO 45001, or Have Been Rewarded with National Trophies like the "Tunisia RSE Awards"
According to the results of the Capital Market Authority's (CMF) study on corporate social responsibility (CSR) practices among Tunisian listed companies, 20% of them have obtained RSE certification, such as ISO 14001 or ISO 45001, or have been rewarded with national trophies like the "Tunisia RSE Awards".
Despite the Benefits, Some Companies Refrain from Certification
Although being labeled allows companies to enhance their credibility and value, have a positive impact on their brand image, and guarantee the reliability of their extra-financial information, some companies do not pursue certification. Why? Due to the "additional cost to be borne", as indicated in the report.
Limited Adhesion to the United Nations Global Compact
Only 25% of companies have adhered to the United Nations Global Compact, which promotes ten universal principles in the areas of human rights, labor, environment, and anti-corruption. The majority, or 55% of companies, have not yet taken this commitment, reflecting the voluntary nature of this initiative, which aims to complement existing regulations and encourage innovation in public responsibility.
Companies' Self-Assessment of Their CSR Approach
The CMF study reveals that 35% of companies consider their CSR approach to be satisfactory, while 60% consider it to be globally mature, often following diagnoses by specialized CSR firms. Evaluating the maturity of a process allows companies to identify areas for improvement, target their efforts, and prioritize in line with their strategic orientations.
Gender Parity and Balanced Representation in Boards of Directors
The issue of gender parity and balanced representation of women and men in boards of directors receives particular attention in this study. The majority of companies have taken concrete measures to promote gender equality within their boards of directors, reflecting a commitment to diversity and inclusion.
Encouraging Trends in CSR Adoption
"It is encouraging to note that more and more companies recognize the strategic importance of CSR. This not only allows them to meet stakeholders' expectations but also ensures their sustainability and competitiveness in the global market," the report reads.
Study Methodology
The sample consists of the 20 listed companies on the Tunis Stock Exchange with the largest market capitalization as of September 4, 2023, representing 81% of the total market capitalization on the same date. Specifically, the sample comprises 10 banks, 3 agri-food companies, 2 insurance companies, 1 service company, and 4 industrial companies.