Are capitalists profit-hungry evil folks, or can capitalists actually lead a better, more equitable, more sustainable recovery? Mark Horoszowski, CEO of MovingWorlds explains why corporate responsibility and social impact is a true selling point these days, why Corporate Social Responsibility (CSR) conversations have skyrocketed, and the amazing growth of Environmental, Social, and Corporate Governance (ESG) investing.
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Capitalism and… social good?
The Biden administration tried increasing the carbon tax and moving forward the SEC may require (Environmental, Social, and Corporate Governance) ESG reporting, but this positive social change is already here.
Capitalism is driving equity, sustainability, and social good, and corporate social responsibility (CSR) conversations have skyrocketed. There’s even incredible growth in ESG investing, now accounting for 33% of assets under management.
I think younger people have a bizarre view of capitalism because they don’t understand the nuance of what drives business. They completely write off the fact that consumers are the true drivers of capitalism. Consumers don’t have to do business with greedy companies and are motivated to do business with companies with strong missions. Companies like Allbirds, Warby Parker, Bite, and Blk & Bold grew at rapid rates in crowded markets because of their CSR efforts.
Companies like Starbucks have long advocated for strong CSR efforts, paying their employees well, giving even part-time workers health benefits, and even paying for college.
Show Notes and Links
- Get the report
- Check out MovingWorlds.
- Here’s the article from the New York Times about Coca-Cola and Nike fighting against the Xinjiang Forced Labor Bill