Corporate social responsibility should be seen as a core element in the financial sustainability of every business, not just a chance to sponsor an office netball team for good public relations, says a visiting senior executive of the world's biggest goldmining company.
Christine Charles, global group executive of sustainable development with Newmont Mining, said short-term investors often considered corporate social responsibility, known as CSR, as anathema to profitability because a company spent money without any direct returns. But long-term investors recognised it as a sign of intelligent foresight.
Ms Charles was addressing a conference on corporate responsibility and sustainability hosted by the Committee for Economic Development of Australia in Melbourne yesterday.
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