Corporate social responsibility (CSR) has been one of the key metrics to assess the social accountability of a business. And in the world of COVID-19, that accountability is under the microscope to an even greater extent.
As a concept CSR has evolved since its inception in the mid-1950s into something quantifiable and, crucially, expected. In 2019, there was a significant transformative moment in the global recognition of the importance of CSR, particularly in the environmentally conscious sphere.
And while 2020 may have started with the expectation that CSR would drive major change in this area, COVID-19 changed everything. The entire world’s economic focus shifted abruptly from growing businesses to attempting to preserve them, while keeping employees safe. Businesses in Q2 of 2020 are facing challenges we’ve not seen in a generation, and the pandemic has changed the focus of CSR. But it has also shown the importance of the very foundations of CSR.
CSR is now an accepted part of a corporation’s responsibility
The growth in successful CSR practises to support charities, communities are not slowed by the pandemic. Rather, they are now automatically incorporated into the response of the business community to COVID-19. We can see this through the many examples around the world of businesses shifting their focus to manufacturing vital PPE and healthcare equipment, supporting the NHS through various initiatives, providing basic necessities to the most vulnerable and isolated in our communities, and much more.
Much of the initial response to the pandemic in the UK was facilitated by companies, many of which did not wait for official Government requests. Companies such as Brewdog took the initiative immediately and began producing much-needed hand sanitiser instead of beer. These kinds of corporate responses fulfil the foundations of CSR — that businesses have a bigger role to play than making money.
This restructured CSR response from UK businesses will continue as we wait for the pandemic to burn out and is likely to fundamentally alter the role of businesses for many people. Corporations have successfully demonstrated how vital they are to maintain the basic infrastructure of our society, and that they continue to do so even in the face of an unprecedented crisis.
Businesses of all sizes are helping the UK’s community
From supermarkets reacting swiftly to social distancing guidelines to delivery companies working with the NHS to get PPE to those that need it most, there are countless examples of businesses stepping up to solve problems at every level of this crisis. And as one of the core aspects of CSR is the reinvention and refocusing of strategies, products and services to benefit the wider community, it’s simple to see the link with corporate responses to the pandemic.
While working to benefit the community, ensure key infrastructure remains in place and basic services are provided, businesses are also working out how to return to a form of ‘business as usual’. Their focus now needs to incorporate employees, stakeholders, customers and society as a whole. This will build global momentum towards the concept of global businesses working together to solve humanitarian problems that are rapidly approaching. From climate change to the possibility of other pandemics, co-ordinated action from corporations, charities and world leaders is clearly needed.
We’ve seen some phenomenal efforts from businesses and individuals to ensure charities are funded and the NHS is supported as much as possible. Examples such as the soon-to-be knighted Captain Tom Moore, who famously raised more than £32 million for the NHS will not be forgotten. There have also been massive amounts of money donated to the NHS by the Premier League (£20 million) and banks like HSBC have pledged £1 million to the Red Cross.
But beneath these headlines, there are also thousands of small, medium and large businesses demonstrating their CSR commitments. From companies like Starbucks and Dominos offering free food to frontline workers, to major brands producing PPE and sanitiser, every gesture, project and service show businesses demonstrating their CSR responsibilities.
Just a few decades ago, every business was for profit regardless of their impact on the environment, the community and the wider world. In the 21st century, the threats of climate change, pandemics, poverty have made us all responsible for each other. The corporate world has shown how it responds to a crisis at a global and a local level, and this can only give hope for the future.
