I recently read a smart and pertinent cover story by Paula L. Green at Global Finance Magazine about business' movement towards greater enactment of CSR and its importance to the bottom line now and in the future.
Green discusses the impact of the United Nations Global Compact since its inception in July of 2000, and cites real world scenarios involving the negative impact of poor CSR. The article includes interviews with several corporate employees leading their organizations toward responsibility.
Green ties the varied policies and opinions together nicely and makes it obvious that CSR must become a core policy in the corporate world and global business.
A new, exhaustive academic review of 167 studies over the past 35 years concludes that there is in fact a positive link between companies' social and financial performance—but only a weak one. Firms are not richly rewarded for CSR, it seems, but nor does it typically destroy shareholder value. Might cleverer approaches to CSR in future produce better returns?
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