Corporate Social Responsibility Has Its Own Index

scottlachut — Fri, 04 Sep 2009 21:33:58 +0000

As someone who is very entrenched in the business world and therefore looking for ways to improve profitably with the companies that I choose to develop and invest in, but who also recognizes the power for private enterprise to do good, both through their corporate practices and charitable efforts, I truly appreciate the ideas behind the “Goodness 500 Index“. The site ranks the largest companies in the world based on corporate social responsibility – total money donated vs. profit, corporate diversity and environmental impact.

The underlying thinking is that with greater transparency, consumers can take a more active role in affecting the culture of the corporate world – most notably, through their collective purchasing power. As founder Michael Mossoba notes in an article for Advertising Age, “When consumers are empowered to evaluate companies based on data rather than preconceptions, companies have a business case to compete with their peers on social responsibility.” A fact that has real implications for the ways corporations operate and ultimately, for society as a whole.

Mossoba admits that while the data is far from comprehensive, it is designed to get the conversation started and lead to further examinations of the companies and brands that we’re choosing to spend our money on.

[image via jvc]

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Corporate Social Responsibility Has Its Own Index