Corporate Social Responsibility (CSR), once a concept, has now turned into a passport for any leading company, regardless of its sector, to operate in modern society. Indeed the interest in CSR began in the 90’s as businesses undoubtedly began having significant power and wealth, some even wealthier than entire countries!
Yet, as businesses presence and power continued to grow in the 20th century, so did society’s awareness that businesses also have a massive duty to fulfill towards society, namely acting as good corporate citizens! By and large this a result of the alertness that what makes companies wealthier simultaneously weakens our common good! This alertness was delivered by the risks climate change inherently began showing among the poorest nations of the world. The threats and impacts of climate change were brought to the surface by key conferences in the early 90’s focusing on sustainable development, alike the United Nations Conference on Environment and Development (UNCED) held in Rio de Janeiro 1992, followed by courageous key authors and documents awakening society as a whole.
The awareness and knowledge about the risk of climate change is now well understood being an issue that needs to be tackled on a global scale, some prefer the term “glocal”. Why? Because society is now also aware that to achieve results, action must be taken from a local scale up the ladder to global, this would suggest individuals doing their own part for the environment as well as acting as responsible consumers by supporting ethical corporations.
Studies alike Cone Communications mirror the movement in society’s ethical behavior as their latest survey found that consumers nowadays do not view CSR as an inspirational mission statement, but something they narrow down their decision making to! The specific survey found that 86 percent of consumers are more likely to trust a company that reports its CSR results, and 82 percent say they are more likely to purchase a product that clearly demonstrates the results of the company’s CSR initiatives than one that does not, according to the report. Such results are profound in comparison to a few years ago and reflect the blossoming of CSR and its significance towards a sustainable development and future!
So why is CSR a passport to leading companies? Well, numbers, at times, speak for themselves and reflect consumers using their choice as a vote, and it is clear to see that their votes honor responsible businesses and essentially punishing the others, simply by not choosing them!!! Are you an ethical consumer?