It's been five years since the Business Roundtable, an association of more than 200 CEOs of leading US companies, redefined the purpose of a corporation as delivering value to all stakeholders''our companies, our communities, and our country.'1'Business Roundtable redefines the purpose of a corporation to promote 'an economy that serves all Americans,'' Business Roundtable, August 19, 2019. While the perception of stakeholder capitalism has evolved since then, the roundtable's focus on stakeholders beyond shareholders reinforced the importance of a skill that not all chief executives have mastered: managing a broad range of relationships through proactive communication. CEOs' paths to the top office rarely allow sufficient development of ability to engage groups with disparate and at times competing interests. Before becoming CEO of Microsoft, Satya Nadella did not fully appreciate 'how multi-constituent the world really is. It's about shareholders. It's about your team members and employees. It's about customers and governments.'2Sachin Waikar, 'Microsoft CEO Satya Nadella: Be bold and be right,' Stanford Graduate School of Business, November 26, 2019. The real job of the CEO is to balance the needs of all those constituents....

War subjects businesses to unprecedented tests. With governments stretched to their limits, businesses must step in and assume responsibilities far beyond their conventional mandates, profoundly transforming the notion of corporate social responsibility (CSR). As national survival and corporate survival become more and more intertwined, we see questions shift from 'Should we do something'' to 'What could we do'' ' transforming CSR from a voluntary initiative to an existential necessity. Amid the Russian invasion of Ukraine, businesses offer a compelling blueprint for responsibility-driven innovation, with the potential to redefine global CSR practices in crisis contexts. Four Ukrainian companies have distinguished themselves with particular thoughtfulness and ingenuity in their approaches to launching socially responsible initiatives during the war, with wartime adversity fueling innovation and societal impact. Their examples show that embracing CSR as an existential imperative enables scalable impact, imbues companies with deeper meaning, and can enhance corporate innovation efforts ' making responsibility rather than necessity the mother of invention....

The world is well aware of the climate finance gap ' the gap between the $100 billion currently annually committed by donor countries and the $2.4 trillion needed per year to fund the climate transition. In Namibia, we know that many businesses are now under increasing pressure to green their supply chains and reduce emissions across their product lines. That's why the government has established the Namibia Sustainable Supplier Database in partnership with the World Economic Forum. The database platform is a searchable online tool of Namibian businesses. Investors and global firms looking to source from Namibia can view company details as well as their engagement with five sustainable development criteria. Companies on the database indicate whether they have a corporate social responsibility (CSR) plan in place, whether they are working to reduce emissions or save energy, if any measures are taken on water saving or biodiversity conservation, compliance with Namibian labour laws and employee or community engagement....

As climate change, social inequities, and other critical issues grow ever more urgent, many companies have built dedicated departments focused on corporate social responsibility (CSR). But while this is an important first step, the authors’ new research suggests that organizations with the most mature CSR programs are often actually those with the smallest CSR departments. Based on an in-depth analysis of several Swiss firms as well as a review of prior research on CSR implementation, they identify a three-phase process through which many companies progress as their CSR operations advance from high-level vision to on-the-ground impact: A nascent stage in which the CSR department centralizes and coalesces, an intermediate stage in which it decentralizes and orchestrates, and a final stage in which it retreats and consults. Through this process, resources shift from the central CSR team out into functional units, meaning that the size and budget of the CSR department is often a poor indicator of the maturity of its CSR execution. To paint an accurate picture of a company’s performance — and to identify opportunities for improvement — the authors ultimately suggest that it’s essential to recognize these nuances and calibrate expectations and evaluations accordingly....