What is Corporate Social Responsibility (CSR)? CSR is when a company takes on the role of regulating how they interact with the law, international norms and ethical standards. A socially responsible business cares about the impact that they have on local and international society both directly and indirectly.
Puma is an example of a company that has taken CSR to great lengths with its carbon emissions ‘profit and loss account’. The idea is that Puma want to calculate the damage that they are doing to the environment by its carbon usage, as well as the impact that their emissions and water usage will have.
These set of accounts were made with the help of accountancy consultants PriceWaterhouseCooper (PwC) and research analysts Trucost to understand the impact that they are having, and to work out the best way of making the company more sustainable. These accounts will be released at the end of their financial year, and will be analysed by the shareholders and investors in the same way as their set of financial accounts.
Puma have got the right idea by going through their processes and finding the flaws, as it is only by highlighting the specific problems in the necessary areas of a business that realistic targets can be set to make improvements. They are also accountable to their stakeholders by releasing these accounts which is an extra incentive for them.
Sustainable and green technology can also start from the ground-up, right from the design through to the finished product. The Urban Tree Planter is one project that helps architects incorporate practical sustainability solutions into their designs. Although in most cities there won’t be enough space for even a small garden, these trees can be placed in convenient places to make the most of the space that they have.