Global events affect company performance

A number of companies had Corporate Social Responsibility (CSR) activities related to COVID-19 in the previous benchmark (e.g., providing internet access or laptops to underprivileged students so they could educate remotely). Many discontinued these initiatives in 2021, resulting in lower scores. Out of the 38 companies identified with having such initiatives in the last benchmark, two dozen discontinued them (63%) even though they were often aimed at vulnerable groups. Another example is the world spending more time online during COVID-19 with tech companies doing extremely well financially. However, the downturn in the global economy is now affecting digital companies reflected by many announcing significant employee layoffs.