Here are the top 9 trends in Corporate Social Responsibility in 2021.
Stakeholders have long demanded corporate accountability and disclosure, but this is no longer enough.
With fake news surging through the roof and the potential of social media sites to spread blatant misinformation around the world, corporate stakeholders are not only looking for the truth, but demanding it.
2. Carbon neutrality
Although several businesses have made significant progress in reducing carbon emissions and waste, stakeholders are now demanding that companies remove all environmental impacts from their operations.
To achieve carbon neutrality (which should be objectively verified), more businesses are turning to renewable energy and carbon credits, and the concept of “zero waste” is gaining traction in the workplace.
In the coming year, expect to see more businesses rapidly achieve carbon neutrality and make significant progress toward zero waste.
3. Employee solidarity
Employees are increasingly using their voices to demand that their employers get involved in their neighbourhoods and causes in ways that were unheard of only a few years ago.
While a questionable US presidential election and Britain’s departure from the EU are likely to deepen cultural and political divides among stakeholders…
4. Purpose over passion
While passion is still important for business and civic leaders, there is an increasing awareness that while passions can be temporary, purpose lasts a lifetime.
The realisation that purpose can be a long-lasting, geographically agnostic driving force behind a company’s operations and social responsibility has sparked a movement to create corporate purpose as a way of empowering workers and engaging customers.
5. The search for “the next BIG thing” continues
Corporate social responsibility (CSR) has been around since the 1970s, and corporate philanthropy has been around for over a century.
The concept of sustainability has been around for decades, as has the willingness of businesses and workers to “give back” by volunteering.
But what’s going to be the next big thing?
Many investors and insiders promote the principle of Environmental, Social, and Governance (ESG) reporting and “Shared Value,” but for the average customer or employee, these principles may seem too academic.
6. Diversity, equity, and inclusion will be frontrunners
Many companies pledged to hire more racial and ethnic minorities, ensure global pay equity, and increase the amount of their spending going to minority and women-owned businesses.
7. Volunteering online gains traction
Although virtual volunteer services have been around for a while, expect this trend to continue in 2021.
Companies increased their virtual volunteer efforts last year, but many of these programmes were immediate solutions or changes to the pandemic.
However, with so many workers expected to work from home until the summer and many businesses considering more flexible work arrangements post-COVID…
8. Small business support becomes a philanthropic focus
Because of the pandemic’s devastating effect on small businesses around the world, especially in impoverished areas, more nonprofit organisations are focusing on finding ways to assist these vital foundations of their communities.
This means that businesses will be asked to support them as well..
9. Integration & Embedding
You’ll see a shift in the way corporations are giving.
The market is slowly shifting away from traditional one-off giving models, a companies look for ways to embed donation into their business model.
Platforms that focus on merging sustainability with technology will start emerging.
A one-size-fits-all approach is no longer applicable, as corporations want custom integration technologies to trigger automatic event-based donations to charities.
Platforms like Incitement offer these kinds of solutions. Find out more on https://csr.theincitement.com.