Corporate Social Responsibility is a term that has been faked by many but genuine CSR remains a noble effort that businesses, both large and small, make to create a positive impact on the planet and the community. These rare companies choose to do what is right not only for their bottom line but their stakeholders, planet Earth and consumers included. Instead of focusing on making the first impression to simply make a sale, they focus on building trust.
Consumers feel that when they use their product or service that they are also doing their part. Corporate social responsibility helps build trust between the brand and its customers, raising awareness, encouraging social change, and making the world a better place as a result. Alphabet (NASDAQ: GOOG)-owned Google, Netflix (NASDAQ: NFLX), Spotify (NASDAQ: SPOT), Pfizer (NASDAQ: PFE), Starbucks (NASDAQ: SBUX), and Walt Disney Company (NYSE: DIS) are one of those companies who have put money and action where their mouth is.
Google- As Renewable As It Gets
Although filled with controversy and privacy concerns, Google has its share of environmentally friendly initiatives but also an outspoken CEO Sundar Pichai who stands up against social injustice including former President Donald Trump‘s anti-Muslim comments, something that even Facebook (NASDAQ: FB) had trouble doing. Google earned its good CSR score back in 2016 when it revealed its data center uses 50% less energy than the industry average. Back then, it committed to “100% renewable being just the beginning”. Google claims to be on track to achieve 24/7 Carbon-Free Energy by 2030, fully decarbonizing electricity supply and operating on carbon-free energy entirely. Its CSR motto is “clean energy every hour, every day, everywhere.
Netflix & Spotify – The Social Dimension
To support their employees, besides being flexible with remote working, Netflix offers 52 weeks of paid paternal leave which can be taken at any time. Spotify offers a similar program but of 24 weeks, still exceeding the usual 18 weeks given by other tech companies.
Pfizer – Raising Awareness
Pfizer did a lot more than just save the day in 2020 by developing a successful mRNA vaccine against COVID-19. The truth is that COVID-19 became a business and vaccine makers were confronted with thorny pricing questions. Pfizer opted for tiered pricing where higher-income companies pay more for each shot. But long before the pandemic, Pfizer coined its CSR policy under its Corporate Citizenship report. Moreover, this company believes this is the essence of the way they do business. Across the globe, it is raising awareness for all kinds of diseases and making an effort to provide healthcare for women and children who otherwise would not be able to obtain it, i.e. by reducing the price of its vaccines.
Starbucks – Diversity At The Core
Starbucks has been diversifying its workforce. Back in 2018, it pledged to hire 25,000 veterans by 2025 along with more younger people to help them jump-start their careers. The coffee chain giant has joined forces with UN Refugee Agency to scale up its efforts and hire 10,000 refugees by 2022. It claims to be on track by already having hired over 65,000 people ages 16-24.
The Walt Disney Company – Magic That Endures For A Reason
Besides its century-old devotion to creating high-quality content, Disney has committed 100 percent zero-carbon electricity by 2030. It is investing in natural climate solutions, it has localized watershed stewardship strategies; to conserve water, and is aiming for zero waste to landfill for the Company’s wholly-owned and operated parks and resorts. It will achieve this goal with at least 30 percent recycled plastic in products and packaging along with 90 percent diversion for construction waste for projects in the U.S. and Europe.
Diversity & Inclusion form a big part of its corporate DNA. 2020 served as a catalyst to further accelerate the company’s D&I initiatives as last June, CEO Bob Chapek launched an initiative composed of six pillars: Transparency, Representation, Accountability, Community, Content, and Culture.
The entertainment giant takes care of its community by ensuring a safe and inclusive employee experience. It is actively setting strict international labor policies to protect the safety and rights of its employees, while also endorsing healthy living initiatives to promote healthy eating habits amongst its talents.
Being heavily hit by the pandemic that crushed its parks segment did not stop the entertainment giant to be active in the community and encourage employees to do the same.
Disney launched a cross-Company campaign, Feed the Love, which raised awareness and nearly $2.8 million in donations to Feeding America’s food security efforts.
Disney made a commitment to fight social by pledging $5 million to nonprofit organizations that support Black communities and leaders of tomorrow.
The House of the Mouse is also fostering and engaging in charitable giving as well as encouraging employee volunteerism. In the troublesome FY20, Disney donated $333 million in cash and in-kind charitable contributions to efforts that bring comfort, inspiration and opportunities to children and families across the globe.
Millennials And Generation Z Have Spoken
New generations want brands that aim to improve society and the above corporations are successful because they are smart enough to listen and let their action speak louder than words.
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