WHAT'S WRONG WITH CORPORATE SOCIAL RESPONSIBILITY? : The business case for CSR
Companies engage in CSR because, for a number of reasons, they think it will be good for their profit margins. The business case for CSR emphasises the benefits to reputation, staff and consumer loyalty plus maintaining public goodwill.
BP's strategy of appropriating the language of environmentalists and positioning itself as a socially responsible company on the issue of climate change by buying up a solar company (for a fraction of the amount it spends on oil acquisitions) is a clear example of a company attempting to take intellectual leadership of an issue where it finds itself criticised, and has been well documented elsewhere.14
CSR consultancy SustainAbility has described CSR as 'helping
to prevent the unfolding backlash against globalisation and
reverse the recent erosion of trust'17.