The Evolution of Responsible Business

This Greenbiz article does a good job of summarizing the evolution, to date, of responsible business practices

 

• We started with the philanthropic movement – This goes back to the origin of business and occurs when an entity with more gives to those with less.
• We then advanced to Corporate Social Responsibility (CSR) – This is where companies expanded their efforts to community wellbeing, not just targeted gifting.
• We have now advanced to Environmental, Social & Governance (ESG) – This not only focuses outward to the community, but internally to the operation of the company; and it brings financial analysis and operational adjustment to the table.

 

Is the process becoming more formalized?  Yes.

Is it being accelerated by consumers, climate concerns, regulations and what we see every day?  Yes.

Will we continue to adjust and advance?  Yes.

Will it be harder for those that start late to catch up.  Yes.