Financial responsibility is the pillar of corporate social responsibility that ties together the three areas above. A company might make plans to be more environmentally, ethically, and philanthropically focused; however, it must back these plans through financial investments of programs, donations, or product research. This includes spending on:

  • Research and development for new products that encourage sustainability.
  • Recruiting different types of talent to ensure a diverse workforce.
  • Initiatives that train employees on DEI, social awareness, or environmental concerns.
  • Processes that might be more expensive but yield greater CSR results.
  • Ensuring transparent and timely financial reporting including external audits.

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