In this episode of the INSEAD Explains Sustainability series, INSEAD Marketing Professor Amitava Chattopadhyay explains how corporate social responsibility (CSR) initiatives can serve as test beds before scaling sustainability projects, and how it is possible to achieve both social impact and profitability.
The GlaxoSmithKline Chaired Professor of Corporate Innovation cites an example of how a global oils and fats company embarked on sustainable operations and responded to consumers’ desire for more sustainable products through ethical sourcing and processes. Importantly, he highlights how sustainability give companies a competitive advantage.
Time stamps:
00:00 – Why is sustainability such an important topic for business today?
01:36 – How can CSR projects be test beds for sustainability?
03:02 – Can sustainable initiatives give your company an advantage?
03:54 – How can sustainability initiatives benefit multiple stakeholders?
05:53 – How can people be persuaded to pay more for sustainable products?