CSR: Fluffy Ain't So Fluffy After All

"CSR is in the eye of the beholder."

Given the different definitions of 'corporate social responsibility' and 'sustainability', this panel had the difficult task of tackling issues ranging from green packaging to the global financial crisis. The fluffiness of this topic added excitement about how large corporations could impact society but also burdened the audience with the responsibility to make CSR initiatives more relevant to all stakeholders.

The encore appearance of John Reid (VP of CSR for Coca-Cola) as our moderator kicked off this panel with hard questions posed to his fellow panelists - Adam Cooper (Accenture Sustainability Services) and Chrissa Pagitsas (Fannie Mae).

Reid first pushed Cooper and Pagitsas to address the need for improved metrics to measure the value that CSR initiatives have on people, planet, and profit. The challenges of this task became very clear as Cooper explained the problems in measuring avoided cost (e.g. the avoidance of a recall) as a result of CSR/sustainability initiatives. Indeed, Pagitsas confirmed that metrics need to be more tailored towards particular purposes while also standardizing them to facilitate comparison. There were even some suggestions that the non-profit community might have best practice models of metrics that could be copied by corporate entities.

Reid then took the conversation a step further as he spoke of the need of CSR/sustainability initiatives to address 'well-being' of all stakeholders. This cutting edge concept is meant to capture a corporation's contribution to the human flourishing of its employees, customers, investors, and supply chain. Reid focused on three key components of 'well-being': personal, social, and natural. He also referenced the work that Gallup has undertaken to create a well-being index.

Finally, all three panelists offered sage wisdom for those looking to get involved in CSR/sustainability careers following graduation from Darden:

1. Gain a technical expertise even as you gather a general manager's understanding of business.

2. Don't lose your passion and make CSR your own.

As CSR evolves, there was general consensus that sustainability initiatives will continue to become a part of mainstream business strategy no matter what industry you may end up in.