The private sector have been traditionally engaged in global development efforts through their corporate social responsibility departments, where they earmark part of their budget to help and improve communities they serve or operate in.
India even recently passed a law that requires firms to spend at least 2 percent of their profit on CSR activities. But in today’s rapidly evolving landscape, is doing CSR enough?
Probably not, argue certain development experts and practitioners who push to shift from just CSR to a more sustainable concept called “corporate social investment:” Firms focus on empowering people by making them development partners and not just passive aid recipients.
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About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.
