Corporate Social Responsibility
'Tis the season of gift giving, and of retailers trying to grab as much of their market share as they can. While encouraging consumerism and excessive consumption, sellers also seek to tap into nobler urges toward benevolence and charity at this time of year.
In late November the accounting firm PricewaterhouseCoopers announced the results of a survey of 353 East African corporate executives for its "Most Respected Company" award for 2007. The winner was the Kenyan mobile phone company, Safaricom. One of Safaricom's claims to fame is that it boasts the highest profits of any company in the region.
In January 2008, the U.S. Federal Trade Commission (FTC) will "examine carbon offsets and renewable energy certificates that claim to reduce greenhouse gas emissions in one place to offset emissions elsewhere." It's part one of the agency's review of "green" marketing guidelines. The review was initially slated for 2009, but is being moved up due to the rapid increase in marketing things like carbon offset programs, a "$55 million market that is largely unregulated." A legal staffer for the U.S.
It doesn't pay to be green if you're a retailer, at least according to the Marshal Cohen, chief industry analyst at research firm NPD Group.
The United States Senate Committee on Finance has released a damning staff report titled The Intimidation of Dr. John Buse and the Diabetes Drug Avandia.