When Principles Pay: Corporate Social Responsibility and the Bottom Line
With Geoffrey Heal
Wednesday, May 21, 2008 03:00 PM to 05:00 PM
Stories of predatory lending practices and the reckless destruction of the environment by greedy corporations dominate the news, suggesting that in business, ethics and profit are incompatible pursuits. Yet some of the worst lenders are now bankrupt, and Toyota has enjoyed phenomenal success by positioning itself as the green car company par excellence. These trends suggest that antisocial corporate behavior has its costs, especially in terms of the stock market, which penalizes companies that have poor environmental track records and rewards more socially conscious brands.
When Principles Pay jumps headfirst into this engaging and vital issue, asking whether profit maximization and the generation of value for shareholders is compatible with policies that support social and environmental goals. Geoffrey Heal presents a comprehensive examination of how social and environmental performance affects a corporation's profitability and of how the stock market reacts to a firm's social and environmental behavior. He looks at socially responsible investment (SRI), reviewing the evolution of the SRI industry and the quality of its returns. He also draws on studies conducted in a wide range of industries, from financials and pharmaceuticals to Wal-Mart and Monsanto, and focuses on the actions of corporations in poor countries. In conclusion, Heal analyzes how social and environmental performance fit into accounting and corporate strategy, presenting an executive perspective on the best way to develop and implement these aspects of a corporation's behavior.
This event is cosponsored by Columbia Business School.
Carnegie Council for Ethics in International Affairs
170 East 64th Street
New York, NY 10065-7478
(212) 752-2432 - Fax
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