Who Really Pays For CSR Initiatives?
Corporate CSR activities raise the cost of doing business and lower corporate productivity without a net benefit to free enterprise or the human condition, according to an Investor Business Daily article (via CNNMoney).
According to the author, corporate executives that arbitrarily fund CSR activities reduces returns to shareholders – and are in effect spending someone else’s money. Executives should instead spend their own money on CSR activities.
“But billions of corporate dollars are now being diverted from investors and redistributed elsewhere, often according to the whims of social activists who are accountable to no one but themselves, and who pursue goals based not on a desire for greater corporate efficiency or profit but on their own vision of what is sustainable, equitable and good for the rest of us.,” the article states.
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- Anaerobic Digester Project Starts on Long Island, NY
- Seward to Use Resurrection Bay for Heat
- An Iconic Structure Gets Certified Silver By Leeds
- Sioux City, Woodbury County Getting LED Upgrade
- Buzz Oates Group Mounts Big LED Retrofit Project in Sacramento
- ORNL Building Efficiency Software Available as Open Source Code
- General Mills: We’ll Invest $100M to Reduce Greenhouse Gas Emissions
- Oregon Correctional Institution Saves with LEDs