Some people think Chinese people and enterprises have not formed the habit of giving. Is it true? Although it is the world’s second largest economy and has the second largest number of billionaires, China ranks 144th out of 145 countries on the 2015 CAF World Giving Index, which measures engagement in charity and willingness to help strangers. It is also reported that China’s top 100 philanthropists gave $3.2 billion—which is less than the amount given by just the top three givers in America. But despite the disappointing numbers, there are reasons to believe philanthropy is on the rise, with an awakening of social awareness and increasingly new ways to give.
“Sustainability is one of those issues that I am very passionate in, it is linked to my beliefs,” says Zhang Huaying, Coca-Cola’s VP for Sustainability in the Greater China, Korea region. She has been tasked with integrating the company’s Corporate Social Responsibility plans into day-to-day operations, taking it beyond just PR concerns. But how exactly does this work? And how is Coca-Cola’s CSR program structured differently to most companies? In this interview, Zhang talks to CKGSB Knowledge on how Coca-Cola practically implements sustainability programs in China, whether the issue is water sustainability or financial arrangements for helping out with responses to natural disasters.
Chinese companies are starting to realize that corporate social responsibility is an important part of their transformation into a reputed brand.
Peter Buffett, son of legendary investor Warren Buffett and co-Chairman of the NoVo Foundation, explains what is wrong with philanthropy. Peter Buffett, the youngest son of legendary investor Warren Buffett, has rather strong views on philanthropy. In July 2013, Buffett, who is a musician, author and philanthropist all rolled into one, stirred a hornet’s […]
Awareness about socially responsible products is increasing, but are consumers willing to pay a premium for them? Fair trade coffee or regular coffee? Do you agonize over that decision? If your answer is yes, you are part of a subset of consumers who prefer to buy socially responsible products. A few consumers, particularly in developed countries, […]
Brian Gallagher, CEO of United Way Worldwide, on more meaningful philanthropy, and measuring the impact of and enforcing accountabilty in philanthropy projects. As a charitable organization, United Way Worldwide (UWW) enjoys two unique advantages: the benefit of scale, and the ability to organize and manage community impact projects locally. UWW, a 125-year-old institution now, is […]
Aaron Hurst is a man with a mission. Hurst, CEO of Imperative and author of The Purpose Economy, is out to reinvent corporate philanthropy. In 2001, Hurst launched Taproot, a company that aims to make pro bono service a part of every business. The idea is simple. Many non-profit organizations face a major handicap […]
Impact investing, or investments that try to create quantifiable positive social and environmental impact alongside a financial return to any organization or entity, also falls under the big umbrella of strategic philanthropy (See ‘Sustainability and Inclusiveness Primer: Doing Good through Strategic Philanthropy’). Impact investing is not about simply writing a check and making a donation […]
While international corporate social responsibility (CSR) platforms have provided companies a list of standards in economic, legal, ethical and philanthropic areas, implementing them in real-life situations can still be a challenge, especially for global companies operating across cultures. Issues between corporations like Apple or Wal-Mart and their Chinese suppliers over working conditions and wages are […]
The Financial Crisis of 2007-08 exposed one of the biggest failings of modern business: the lack of a moral and ethical compass. Financial institutions obsessed over short-term goals, such as getting the stock price up and delivering quarterly profits, no matter what the cost. Few of them really worried about the impact their irresponsibility would […]