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Giving Compass' Take:
• Timothy J. McClimon shares five corporate social responsibility trends for 2020 that business leaders should take notice of in the new year.
• How can philanthropy encourage positive trends in CSR? What could CSR trends mean for your business?
• Read about the five elements for a model of corporate social responsibility.
2019 was a pivotal year in Corporate Social Responsibility as the concepts of corporate responsibility and sustainability received significant media attention, and the trends that I identified last year at this time (better dialogue, more learning, more disaster prevention, greater equity and the growing importance of Generation Z-ers) remained timely and relevant. Still, 2020 promises to bring more challenges and opportunities to the field, and leaders should pay attention to these developing global trends in Corporate Social Responsibility:
- Searching for the truth. While corporate transparency and disclosure have long been expected by stakeholders, they are no longer good enough.
- Achieving carbon neutrality. While many companies have made great strides in reducing their carbon emissions and waste, simply reducing the environmental impact of corporate operations is not enough; now, stakeholders are demanding that companies eliminate them all together.
- Standing with employees. Increasingly, employees are exercising their voices demanding that their corporate leaders get involved with their communities and causes in ways unheard of just a few years ago.
- Pursuing purpose over passion. While passion remains critical for leadership of companies and civic organizations alike, there’s a growing recognition that passions are sometimes fleeting, but purpose can be enduring.
- Looking for the next big thing. Expect to see new ways of promoting and describing the idea of companies acting responsibly in the new year.
Read the full article about corporate responsibility trends 2020 by Timothy J. McClimon at Forbes.