In summer 2011, Emerging Markets ESG conducted for the National Alliance for Local Economic Development (NALED) – Serbia a comparative analysis of corporate social responsibility (CSR) key performance indicators (KPIs) in 40 emerging markets: five countries in Africa; four countries in the Americas; nine countries in Asia; three countries in the Caucasus; 18 countries in Europe; and one country in the Middle East.
As of the record date of July 1, 2011 eight countries (Chile, Croatia Estonia, Hungary, Latvia, Macedonia, Malaysia and Turkey) have a national CSR award or index. Five countries (Brazil, Egypt, Indonesia, Israel and South Africa) have a Socially Responsible Investment (SRI) index on the stock exchange
In each of the above-mentioned countries, research is currently being conducted about the relationship between the CSR award/index or the SRI index and corporate performance.
The comparative analysis identified 144 KPIs classified in the following five categories: environmental (33); financial (7); governance (37); product (20); and social (47). These 144 KPIs were cross-referenced with Global Reporting Initiative (GRI) standard disclosures and performance indicators.