Corporate Social Responsibility: A Basic Guide

Covid-19 has severely changed our habits, it has made us aware of the importance of enjoying time, moments and being aware of our surroundings. This, has changed customer’s habits, where socially responsible products are more in demand. Businesses have perceived this changed in consumer behavior, which has prompted corporations, small and big, to shift towards applying more sustainable strategies. Some corporations go a step beyond, and being socially responsible is inside their DNA.

Corporate Social Responsibility is vital for businesses wanting to succeed into the millennial and gen Z group segment. According to a poll , more than 80% of millennials and gen Z position environmental awareness of companies as a main factor in order to decide which companies to interact with. Jeff Denby, cofounder of the Renewal Workshop, provides an interesting analysis of the relation between circular economy and revenue growth, he says that “circularity provides a new way forward, a business model that allows for revenues to grow while decreasing reliance on new resources and reducing waste.”

In order to identify Companies that are socially responsible , the B Corp certification is one of the most relevant tools. This certification balances business profits with their social purpose, and it represents corporations or businesses that meet the highest standards regarding social aspects balanced with profits. Moreover, B Corps corporations go beyond, they also form a community of leaders shaping the world. As we can find on their webpage, “B Corps form a community of leaders and drive a global movement of people using business as a force for good”.

Corporate Social Responsibility practices are not static, they are constantly evolving according to the situation humanity faces. As we have experienced, our world can change in a few months, and CSR strategies change in accordance with the social evolution of the world. CSR should keep evolving, and incorporating new aspects, which is why I believe it is vital for corporations to keep investing resources in this constantly changing department.

Here are several examples of companies I have selected with interesting approaches to CSR strategies.

Sanergy

Sanergy is a company based in Kenya that makes hygiene related products. They tackle a big problem we are currently facing; overpopulation in cities, which is having many negative impacts in quality of life. Its model is based in a multidisciplinary approach through building, collecting , treating and converting. They build sanitation solutions, collect waste and convert waste into re-used products. Sanergy truly has CSR in its DNA!

Chech Sanergy’s webpage

Ecovative design

Ecovative design is a New York based company that provides solutions to the resource scarcity, by growing their own materials . They provide solutions to the demand for plastic, as well as animal agriculture. In order to grow their materials they use mycelium, the root structure of mushrooms. Their responsibility with sustainability is clear, get more information here!

Aspiration Bank

Aspiration bank holds a very strong CSR strategy. They do not define themselves as a financial service institution, but as a driver for change. Their responsibility in the field of sustainability is not only related with their actions, but it is also embedded in their values.

The North Face Renewed

The North Face Renewed is a project launched by the renowned brand “The North Face” that tackles the issue of textile over-production. This project is based on the refurbishment of clothing through an 8 steps process aimed at maximizing the amount of textile that can be re-used. This approach to CSR makes The North Face Renewed an example of how the textile industry can be adapted to the new paradigm. Get more information here!