Spider-Man’s Uncle Ben popularized the adage: “With great power comes great responsibility.” His wise words are particularly relevant in today’s climate as brands discover their own power. Companies are not only realizing they can effect meaningful change, but they also carry a responsibility to do so.
With external expectations high for businesses to demonstrate their social impact, taking the right approach to publicize Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) initiatives requires careful consideration.
The Business Benefits of Promoting Your CSR and ESG News
The popularity of ESG- and CSR-friendly companies is growing as younger generations influence market trends. Those currently 6 to 24 years old, better known as Gen Z, are driving this trend. According to a 2018 WeSpire report, they are the first generation to prioritize purpose over money; they also see the environment as one of their most important issues, second only to racial equality. However, Gen Z is not alone in their preservationist and conservationist sentiments. The IBM Institute for Business Value and the National Retail Federation asked nearly 20,000 consumers ranging from Gen Z to Baby Boomers (those currently 57 to 75 years old) across 28 countries about their shopping choices. Their research found that:
- Nearly 60% of consumers surveyed are willing to change their shopping habits to reduce environmental impact;
- Nearly 80% of respondents indicate sustainability is important for them;
- And for those who say it is very/extremely important, more than 70% of respondents would pay a premium of 35%, on average, for brands that are sustainable and environmentally responsible.
Prioritizing CSR and ESG initiatives comes with internal benefits too. Attracting and retaining employee talent, gaining loyalty among consumers, and demonstrating accountability to investors are a few bonus perks to making the world a better place, according to Forbes.
With Gen Z entering the workforce and making their purchasing preferences known, consumers of all ages are starting to intentionally select brands with a purpose. Now is a prime time for selective spending after a tumultuous 2020 – a year plagued with a contentious election, a global pandemic, and racial unrest. With tensions running high, companies looked to stand out by doing something positive. Their philanthropic efforts resonated both domestically and globally, while also improving their brand’s reputation.
How to Promote Your CSR and ESG News
To maximize the reach and impact of their charitable efforts, businesses must make a conscious effort to promote their good work. Media coverage is an excellent way to highlight a company’s humanitarian endeavors, but this requires targeting the right audiences from the outset.
To promote your work effectively, you need to get your news to the specific reporters and investors who seek out CSR and ESG news. Business Wire’s CSR Circuit does just that. Our CSR Circuit reaches news media, financial investors, fund managers, and universities specifically interested in reading and acting upon CSR and ESG news.
The world is looking to act upon corporate goodwill. By investing in a cause that is important to your company’s employees and consumers, you’re bound to turn heads. Just make sure that your generous efforts are recognized – send your good news to our CSR Circuit to spread the word... and the compassion!
Get the latest PR, IR, Marketing, and Media tips on the Business Wire Blog. Subscribe today!
