Now more than ever, many businesses acknowledge the need to be socially responsible. They’re responding to calls to do good for the long-term and short-term betterment of the environment. And corporate social responsibility (CSR) is everywhere. A growing number of companies have a sustainability program in place. While there is no standard measure as to what falls under corporate social responsibility, any action taken by a company to give back to society is considered CSR. Incorporating social responsibility in an organization isn’t mandatory; however, it can help companies differentiate their marketing, further their growth strategies, and ultimately make more profits.

Nielsen conducted a study in 60 countries to determine the potential effect of CSR. Out of the 30,000 consumers studied, 66% said they would pay more to brands that prove to be socially responsible. In another US-based study, Cone Communications found that 87% of Americans are willing to spend more on something if they see a company engaging in issues they care about. In essence, sustainability initiatives are a win-win for businesses. According to HBR, companies’ primary motivators for creating CSR programs are sustainability, moral obligations, reputation, and operating license.

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