Whatever your feelings about global capitalism may be (and among environmentalists, such feelings are often not particularly warm), it is not difficult to see that as corporations go, so go economies, politics, and often the environment.

Wal-Mart, which recently threw down the gauntlet on compact flourescent bulbs (http://www.zerofootprint.net/green_stories/green_news_item.asp?type_=51&ID=15321 ) is a case in point. They’re using their massive leverage to improve the world.

As refreshing as this is, however, it raises some interesting questions about a corporation’s role. Shareholders may not have invested their money to see it used to champion an ethical position; they probably expected their money would be put to work pursuing the highest returns possible, and they may feel their executives have no business doing any else. On the other hand, as the Wal-Mart example shows, there is impressive public relations upside to a well-handled CSR initiative, and a case can certainly be made that money spent on CSR is an investment rather than an ethical write-off. But where the tipping point is on the question is far from obvious.

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