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Measuring Socio-Economic Impact

I recently attended another of Business Fights Poverty’s fine events: Linking Socio-Economic Impact and Business Strategy. It was a great event, and good to see that there has been significant progress in the way social impact is being measured and in the way the conversation is happening, but a few things troubled me.

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CSR in India … back to Square One

The CSR laws that came into force in India really should be called Philanthropy laws, because that’s what they are.

I had been planning to write on this, but after reading Mallen Baker’s blog post on the topic, I don’t have a lot to add. So instead, here is a link to his post, Should CSR be made compulsory after all?.

The only significant thing I might add, is that naming laws that imposes compulsory philanthropic targets on certain companies as ‘CSR’ will mean that Indians will come to think of CSR as philanthropy. That won’t necessarily set back the growth of responsible business (although I think it makes it more likely), but it does mean that other terms like Sustainability or Responsible Business become more important.