What Are the Top Trends in Corporate Social Responsibility? - Deepstash
What Are the Top Trends in Corporate Social Responsibility?

What Are the Top Trends in Corporate Social Responsibility?

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Corporate Social Responsibility

As pressure is added by consumers seeking to make more responsible choices and by the constraints of ever-dwindling natural resources, more companies are incorporating sustainable strategies and adopting more socially responsible practices. Corporate social responsibility, or CSR, is the business practice of pursuing social and environmental gains, alongside financial gains. As the push for companies that do good increases, corporations of all sizes are looking for ways to incorporate sustainable business practices into their everyday.

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CSR Trend: Increased Transparency

Demands for disclosure for companies to reveal what's under the hood of their businesses have become commonplace among consumers.

 It is also partly a result of the ever-increasing availability of almost instantaneous information, and consumer and shareholder demands of once behind-the-scenes information. As part of a business model that embraces corporate social responsibility, companies are sharing more environmental, social, and governance disclosures

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CSR Trend: Green Technology

Gone are the days of rampant resource usage without any accountability or thought toward replenishment. Climate change continues to drive many conversations in the corporate world, and multiple trends in CSR intersect at this topic.

As available natural resources are rapidly depleted and our world reaches a tipping point of a 2-degree rise in average temperature, socially responsible companies are investing in green technologies, reducing their reliance on nonrenewable resources, and looking to more sustainable inputs to do business.

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CSR Trend: Global Companies Acting Locally

Localization is in. Even companies that operate on a global level are recognizing the value of local markets and supply chains. This is not only to reduce carbon emissions that might be associated with transportation or supply chain costs (as creating "greener" businesses is also a rising CSR trend mentioned above) but to tap into local talent and solutions.

Many companies that also have charitable arms are also prioritizing nonprofit partners that work with local leaders and local talent, rather than "shipping in" cookie-cutter solutions.

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CSR Trend: Diversity and Inclusion

As the issue of economic inequality rises to the forefront of many political debates, so does the issue increasingly press upon corporations.

Recognition of inequalities in pay and economic burdens of employees is an emerging trend in corporate social responsibility. Pay equity between males and females, measuring the difference in income between the highest-paid and the lowest-paid worker at a company, and making sure that there is a diverse staff base have become key priorities of the best companies in the world.

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CURATED BY

karlabro

Maintenance engineer

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