TIme Magazine

The global-warming debate has introduced some new catchphrases into the business lexicon. Becoming carbon neutral, for example, is now a goal for multinationals like Dell, HSBC and Tesco. But for another well-known international brand, becoming carbon neutral isn’t enough. Last June, Coca-Cola CEO Neville Isdell flew to Beijing and pledged that his company would become “water neutral” — every drop of water it uses to produce beverages would be returned to the earth or compensated for through conservation and recycling programs.

Source: ECOlife

Since the repurchase by Unilever, Ben & Jerry’s did not lose any of its founder’s environmental commitments. The company plans to reduce its environmental impact by 10% within five years and is already using 100% green electricity.

According to the McKinsey Global Survey, corporate philanthropy plays an important role in addressing consumer expectations on business social responsibility. The Survey also indicates that executives are questioning the effectiveness of their philanthropy programs in meeting their social goals.

A recent poll conducted by IBM shows that 76% of top executives do not fully understand consumer concerns and demands for corporate social responsibilities.

“The once unassailable notion that corporations exist solely to maximize their shareholders’ returns is crumbling. Without a doubt, the dramatic scale and scope of the challenges presented by climate change will require the next generation of business leaders to adopt a more socially oriented professional identity.”

Companies will need to justify their environmental plans and actions “as major shareholders scrutinize the short- and long-term risks and opportunities of climate change.”

Companies in Hungary are beginning to see the benefits of social responsibility, according to Kincső Adriány, from the Hungarian Business Leaders’ Forum Corporate responsibility in Hungary is “getting there”, says Kincső Adriány, executive director of the Hungarian Business Leaders’ Forum. Levels of practice and understanding are broadly comparable to those in the Czech Republic, Poland and Slovakia, but reaching western European standards could take “ten, 20, even 25 years”.

More than 600 senior executives will gather at the UN business summit, Global Compact, to address the role of businesses to improve social and environmental practices.

At the Global Compact Leaders Summit, elite business executives were asked to Go Green and stop corruption by the United Nations.