The Magazine of Corporate Responsibility

Tag Archive for ‘Economy’

Building Confidence in Banks: The Payoff in Jobs

Columnist Gael O’Brien speaks with Gallup Chairman and CEO Jim Clifton about a new book in which he argues that successful entrepreneurship and job creation are the most pressing issues facing the world. A critical part of addressing those challenges: the banking industry and its relationships with small business. “Banks,” says Clifton, “are one degree away from us, not six degrees.”

Among Global Corporate Executives, Wide Range of Views on Social Responsibility

The concept of corporate social responsibility (CSR) — the idea that companies directly contribute to the common good — is gaining adherents throughout the business world. However, what constitutes responsible corporate behavior is open to interpretation by the firms themselves and the larger cultures in which they operate.

Executives Optimistic Sustainability Will Be “Core Strategy” for Business

Executives responsible for sustainability and corporate social responsibility programs at large companies are overwhelmingly optimistic that those initiatives will be part of the “core strategies and operations” of global businesses in the next five years, according to a new survey. Top priorities for those companies in the year ahead are human rights and workers’ rights, climate change, and the availability and quality of water on a global basis.

A Test Where the Banks Had the Questions and Answers

Later this month, the U.S. Federal Reserve is going to let banks know how they did on its most recent round of “stress tests,” a follow-up to the tests the Fed conducted in the wake of the financial crisis. But reporter Jesse Eisinger says something seems different this time around. It’s almost as if the banks knew their results, even before the testing was complete.

Environment: Assessing the Real Costs of “Externalities”

For decades environmentalists have argued that economics should take into account the costs borne by such externalities in order to discern the true overall value to society of any given action or activity. The company or utility that operates the polluting factory, for instance, should be required to compensate the larger society by paying for the pollution it produces so as to offset the harm it does.

Execs Optimistic on CSR Initiatives, Despite Economy

Business leaders responsible for corporate social responsibility and sustainability programs expect budgets and activity for corporate initiatives in the sector to hold steady or increase despite economic uncertainty, according to a new survey. Climate change was chosen more than any other issue as either a “significant” or “very significant” priority for companies.

Scary New Wage Data

Pulitzer Prize-winning reporter David Cay Johnston says an analysis of recent U.S. government wage data shows that since 1980, the bottom 90 percent of Americans have seen their incomes go nowhere, while on the highest steps of the income ladder, the further up you are, the greater your gains. “This orgy of money exhibitionism,” he writes, “has created a society in which commas — it takes three to be a billionaire — count more than character.”