Obfuscation of Big CSR & Sustainability Issues: A Financial Services Issue, not all Business
The financial sector has failed to act in a meaningful way to promote sustainability and CSR and may well ‘present the greatest block to global progress.’ But the main reason is not unconcern.
Keynes was correct about what drives recessions and unemployment…he would have known that between 1979 and 2007 incomes of the top 1 percent of Americans grew by an average of 275 percent. Accordingly, he would have invested in luxury goods and if alive today, would note that Rolls Royce car sales in the U.S. were up by 31 percent in 2011 over the year before.
Point is: big business does get it. They are aware of the big issues of the day simply because their bottom line is, and will be, severely affected. But the financial sector? Not so much. Arguing that we mustn’t confused the failures of the financial services industry with all business, Dr. Michael Hopkins plays cheerleader and lays out the case for progress that has been made because the corporate sector got involved. On Talkback.