Companies in the US are behind firms in the UK in their commitment to corporate social responsibility (CSR).

A survey of 500 business leaders both sides of the Atlantic found that more than half of those in the UK are allocating between 6 and 10% to CSR compared to around two in five of those in the US.

Also, half of those in the UK attribute increased investment in CSR to improving their business through direct return on investment. Just 39% of US leaders felt the same.

Other motivating factors behind CSR programmes are increasing interest among employees and customers.

Among all respondents three quarters say they plan to increase investment in CSR. A third say their firms are currently allocating more than 10% of their total corporate budget to CSR.

The survey has been carried out by business research firm Benevity, which also found that 15% of respondents anticipate more than a 15% increase in CSR budgets over the next year.

Top areas of investment over the next 12 months include staff volunteering schemes, cited by more than two in five respondents. Four in ten say they intend to enhance their focus on developing ethical business practices around artificial intelligence.

“Our data shows that even in today’s unpredictable socio-political landscape, most executives are increasing their commitments to social investments,” said Benevity chief impact officer Sona Khosla.

She added: “This urgency for measurement needs to be matched with investment in robust data and reliable tools, but also embedding CSR into the business’s overall strategy with clearly set targets.”

Increasing scrutiny on companies’ environmental, social and governance (ESG) initiatives is also not denting interest in investing in this CSR, said Benevity.

“Most executive leaders have not changed course in the face of anti-ESG sentiment,” it said.

“The majority of companies are continuing this work and are increasing support for employee engagement initiatives that foster connection and belonging.”

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