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Corporate Social Responsibility Essay

676 words - 3 pages

triple bottom line (TBL) accounting expands the criteria for measuring organizational success beyond profits and losses. Triple – bottom-line reporting firstly began in 1994 by John Elkington, the founder of a British This accounting method assesses and analyzes the financial, social and environmental effects of an organization's operations. consultancy called SustainAbility. The triple bottom line consists of three Ps: profit, people and planet. It aims to measure the financial, social and environmental performance of the corporation over a period of time. A company that produces a Triple Bottom Line Report is accounting for the full costs involved in running a business. Triple bottom ...view middle of the document...

The full cost of an oil-tanker spillage, for example, is probably immeasurable in monetary terms, as is the cost of displacing whole communities to clear forests, or the cost of depriving children of their freedom to learn in order to make them work at a young age.

To my pleasant surprise, Aron Cramer, President and CEO of sustainability consultancy firm BSR, responded simply: “no.” His fear is if CSR reporting becomes mandatory, it will be compliance driven reporting. Corporations would be reporting just to meet the requirements of the report, not truly making any genuine effort towards sustainability or social responsibility.
I tend to agree, but for a different reasons. In the end, the goal is to have corporations become more socially responsible, hence the CSR reporting. However, having the government mandate reporting absolves corporations from the responsibility such reporting is intended to instill. This may sound counter-intuitive, so allow me to explain.
Federally mandating reporting now makes social responsibility the...

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