Corporate Social Responsibility is more important than ever

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More consumers, shareholders, and employees than ever are demanding that companies change the way they do business, become more transparent, and take an active role in addressing social, cultural, and environmental issues. Corporate Social Responsibility (CSR) has taken its place in today’s corporate world and businesses that ignore it do so at their own peril.

BlackRock CEO, Larry Fink recently sent a warning shot to CEOs across the world: start accounting for the societal impact of your companies or risk disappointing the largest asset manager in the world.

In a letter to CEOs of public companies, Fink, whose firm manages $US6.3 trillion in assets, said that companies needed to demonstrate a strategy for long-term value creation and financial performance, and that understanding a company’s effect on the world was a key component. Read the full article at Business Insider Australia.