Overview
Corporate social responsibility (CSR) has become a buzzword in the business world, with companies like Patagonia and Ben & Jerry's leading the charge. But CSR is not without its critics, who argue that it can be used as a marketing tool to distract from a company's true environmental and social impact. According to a study by the Harvard Business Review, companies that prioritize CSR see a 4-6% increase in stock price, but others argue that this comes at the cost of greenwashing and lack of transparency. The concept of CSR has been around since the 1950s, but it wasn't until the 1990s that it gained mainstream attention, with the publication of books like 'The Triple Bottom Line' by John Elkington. Today, CSR is a $20 billion industry, with companies like Accenture and Deloitte offering CSR consulting services. As the world grapples with issues like climate change and income inequality, the question remains: can CSR be a force for good, or is it just a clever PR tactic?