In a new book, Whole Foods Market CEO John Mackey envisions a world where “one day, virtually every business will operate with a sense of higher purpose, integrate the interests of all stakeholders, elevate conscious leaders, and build a culture of trust, accountability and caring.”
Table saw accidents are painful, life-changing and expensive. Each year, more than 67,000 U.S. workers and do-it-yourselfers suffer blade contact injuries, including more than 33,000 injuries treated in emergency rooms and 4,000 amputations. Yet the power tool industry has failed to adopt available technology that could dramatically reduce the number of accidents.
Even though the business case for increasing the number of women in senior management and on corporate boards has been made – successfully – columnist Gael O’Brien wonders why there hasn’t been more progress in making it happen. The answer, she suggests, may lie in the “self-seal” that often surrounds organizations and their leaders.
In January, Rep. Jeb Hensarling, R-Texas, ascended to the powerful chairmanship of the House Financial Services Committee. Six weeks later, campaign finance filings and interviews show, Hensarling was joined by representatives of the banking industry for a ski vacation fundraiser at a posh Park City, Utah, resort.
A growing number of chief financial officers are increasingly involved in environmental and social initiatives that not long ago were totally divorced from their company’s income statements or balance sheets. At The Walt Disney Company, CFO Jay Rasulo says combining corporate citizenship with financial oversight “allows us to integrate our work in citizenship with the other financial strengths of the company. And if I’m successful in doing that, I believe I’ll actually create even more value for our shareholders.”
Many people may not realize that what happened on April 17, 2013 in the town ofWest,Texas—a fertilizer plant with an unreported large stockpile of explosive ammonium nitrate blew up, killing 14 and rendering hundreds of others injured and homeless—could happen almost anywhere.
The World Bank reports that the number of people living below the $1.25-a-day poverty line declined from 52% of the population of the developing world in 1981 to 22% in 2008. But nearly 649 million of those who moved above the poverty line had a standard of living that was nevertheless below what would be defined as “poor” in middle-income developing countries and far below that of rich countries.
Educating students in corporate responsibility means making sure they think critically and recognize that ethical issues are inherent in all business decisions, says an educator. “Corporate culture must support all employees to think critically about every decision and action, every day,” she writes. “Being motivated simply to avoid prosecution is not the same as behaving ethically—and it’s often not even a good way to avoid sanctions.”
The emerging trend of “cloud computing” means that these providers have had to scale up their power consumption considerably, as they are increasingly responsible for providing more and more of the computing horsepower required by the world’s two billion Internet users.
Pay packages for CEOs of U.S.-based companies continue out of control, writes columnist Gael O’Brien, with boards often succumbing to “fear-based” compensation practices that undermine the potential for collaborative leadership and sustainability. She notes new research which disputes conventional wisdom that CEOs can easily move to the next company if not paid well. “Tackling excessive CEO compensation,” O’Brien writes, “is the first step in creating a new normal.”
Moscow-based CSR consultant Tatiana Klimova discusses social responsibility in Russia: its historical prerequisites, current dramatic changes and further development issues.
The former Congressman, who resigned two years ago in a sexual social media scandal, disclosed this week that he’s thinking of entering the race to become the next mayor of New York City. Columnist Gael O’Brien looks at what some other leaders have done to rehabilitate their reputations after scandal and analyzes the challenges involved in regaining trust.
The division between what’s permissible and what’s merely outrageous online grows fuzzier day by day, with legislators, regulators, police officers and businesses scrambling to harness the wild wild west of social media law. “The Internet,” says a New York district attorney, “is our 21st century crime scene.” James Hyatt reports.
Organizers from Earth Day Network (EDN), the non-profit group dedicated to diversifying and mobilizing the environmental movement through planning and coordinating Earth Day activities and events around the world, have chosen “The Face of Climate Change” as the theme for 2013’s celebration on April 22.
A leading plaintiffs’ lawyer says the widespread acceptance of hedge funds – which now receive hundreds of billions of dollars from pension plans representing average workers – has not been matched by commensurate improvements in their level of transparency, accountability and corporate governance. As a result, he argues, “it’s time for hedge funds to be brought into the 21st century,” with broad changes in the legal regime that governs them.
In an exclusive interview with the Wall Street Journal, Microsoft Chairman Bill Gates discusses the challenges of philanthropy in an economic recession and how his tenure at Microsoft prepared him for his new job running the Bill and Melinda Gates Foundation.
One of the most persistent corporate responsibility issues for many global brands is how to manufacture products in less developed countries while paying fair wages and maintaining acceptable working conditions. The New York Times reports on an experiment by a U.S. clothing company that is paying factory workers in the Dominican Republic a “living wage” – three times the average pay of the country’s apparel workers.
It’s estimated that as many as 754 people die each year in states with mandatory helmet laws because they wore novelty helmets instead of safe headgear, which amounts to nearly one in six rider fatalities. Marketers of novelty helmets are unapologetic, dismissing safety concerns and saying they simply are accommodating consumer demand.
Impact investing is an emerging asset class focused on the flow of capital towards companies that align market incentives with scalable impact. In other words, investing in for-profit companies that are making the world a better place. One problem: there is actually very little investment being made, especially for seed and early-stage companies.
Many low income or minority groups—Latinos, Asians, Pacific Islanders, Native Americans and others—have learned to raise their voices and stand up against the discriminatory locating of hazardous waste landfills and transfer stations, polluting factories and utilities, and other triggers for bad air quality and compromised waterways and soils across the U.S. and beyond.
Has anything changed in banking regulation since the crisis of 2008? Consider the case of MF Global Holdings Ltd., a New York-based securities firm that filed for bankruptcy protection on Oct. 31 after disclosing sizable exposure to derivatives and other investments related to billions of dollars in European sovereign debt. The firm was headed by Jon Corzine, a former CEO of Goldman Sachs who subsequently went into politics and was elected U.S. Senator and, later, Governor of New Jersey. In this video clip, “Daily Show” host Jon Stewart compares and contrasts the positions and behavior of Jon Corzine, the politician, with Jon Corzine, the CEO banker.