Business for good is good for business: the evolution of CSR to ESG

Why is this happening? In most cases, it’s because altruistic and pragmatic interests have aligned. Take, for example, the issue of clean water. We all know clean water is important, and no one would argue that we want to make sure there is an abundance of clean water for our children and grandchildren. But think about it from the perspective of a global consumer goods corporation that sells personal care products like shampoo, soap and laundry detergent. They need clean water to be able to make their products, and consumers need access to clean water to be able to use their products. Working to ensure clean water is available across the globe for generations to come is not just a good thing to do, it’s a business imperative.

The shift also is due in large part to stakeholder demand; people expect the organizations they work for and do business with to act as change agents – to stand up, speak out and make a difference for the greater good.