What are the risks of not engaging in ‘green and ‘socially responsible business?
In a global market where climate change, energy crises, environmental and social problems pose threats to the economy, the planet and to people, the repercussions for business are enormous. Pressures from consumers, scientists, not-for-profit organizations and media coverage has created a perfect storm of risks for business. To help mitigate the negative impacts on business, there is an upsurge of new and impending government regulations. There has been an erosion of trust among consumers towards the business world and it has resulted in a demand for risk transparency. People want to know the impacts that a product or process has on their environment, the lives and health of the workers and their own health. Consumers increasingly ask probing questions, have access to more information and are voting with their dollars for socially responsible businesses. In 2006 according to the Sustainable Brand Study, 70-80% of consumers say they are switching to “green” companies and 20% actually di
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- What are the risks of not engaging in ‘green and ‘socially responsible business?
