Trend of CSR:

More corporations are embracing sustainable strategies and adopting more socially responsible practises as pressure from customers wanting to make more rational decisions and the restrictions of ever-dwindling environmental resource grows. CSR, or corporate social responsibility, is the practise of achieving social and environmental goals in addition to financial goals. Companies of all sizes are seeking for methods to incorporate sustainable business practises into their daily operations as the demand for good firms grows. Following are the CSR trends:

Increased Transparency: Due to CSR companies are sharing more of their information than before with the public. Companies are releasing more ecological, social, and regulatory information as part of a business strategy that incorporates corporate social responsibility. This has increased transparency between the businesses and public.

Global Companies are now working on the local levels: Businesses that operate on a global scale are beginning to recognise the importance of local marketplaces and distribution networks. This is done not simply to cut carbon emissions caused by traffic or distribution network expenses, but also to leverage into local expertise and ideas. Many businesses with charity arms are preferring non-profit partners who collaborate with local leaders and expertise.

Businesses are shifting towards green technology: As naturally available resources burn up quickly and our universe approaches a turning point of a 2˚c increase in average temperature, socially accountable businesses are investing in renewable initiatives, lowering their dependence on non-renewable resources, and seeking more self-sustaining inputs to do business.

(“What Are the Top Trends in Corporate Social Responsibility?”, 2022)

References:

What Are the Top Trends in Corporate Social Responsibility?. Investopedia. (2022). Retrieved from https://www.investopedia.com/ask/answers/011215/what-are-top-trends-corporate-social-responsibility.asp.