From sponsoring the local Little League to developing environmentally-responsible technologies, US companies have long invested in philanthropy and corporate social responsibility. Today, they spend an estimated $2 billion in cause marketing and another $14 billion in corporate philanthropy (IEG, Giving USA). And for many leading companies, from Wal-Mart to JPMorgan Chase, that means investing literally hundreds of millions of dollars in sustainability and corporate social responsibility (CSR) initiatives.
In turn, American consumer are expressing a growing interest in the social impact that businesses can have on their lives, their families and their communities. And it’s not just consumers who are asking these questions.
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