Corporate social responsibility has become an integral part of corporate governance systems around the globe. For some years now, corporate bodies have been setting goals based on what their consumers value the most in a brand. The push for renewables is the latest in a series of CSR trends. However, the difference with adding green energy to CSR is that it has now become an inherent part of the system.
A study conducted in 2015 found out that 91 percent of consumers in the world expect companies to do more than just make profits. The study also noted that companies who are proactively working to support social and environmental causes are viewed more positively by consumers. Thus, dedicated CSR activities in the field can make a positive impact on brand and goodwill development.
Also, green energy initiatives such as transition to solar power or wind power has allowed corporates to offset their total energy costs. The financial gains from the move to renewables - for which the cost of implementation is now in a free-fall - has been noticeable. Companies have acknowledged that the switch is both saving them money and consecutively helping them gain consumer trust.
Moreover, switching to solar or wind power as a part of CSR is also helping corporates in reducing their carbon footprints and receive carbon credits from world governments.
On the flip side of the coin, some companies have suffered from an overly enthusiastic green policy. Corporates have ended up burning up resources by investing heavily in untried green technologies. But these misadventures make a case for the development of existing technologies like solar and wind, even stronger.
Solar is the cheapest and easiest form of green energy accessible to us at the moment. A clear example of the superiority of solar power is the fact that 250 tons of carbon emissions can be offset by a 200kW commercial solar array. To understand that in real world terms, it is equivalent to not burning 120 tons of coal. The figure may not seem a large one if you consider the overall coal production at the moment, but as the collective drive towards a greener future takes off, it might make all the difference for the world our coming generations inherit.
In conclusion, we can say that the effect of green push on CSR activities is certainly a positive one for all parties concerned, the companies, the consumers and the environment. While investment in emerging green technologies should be taken with a pinch of salt, the superiority of solar and wind remains undeniable.
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