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Companies to act as 'stewards of society' through CSR programs

February 08, 2019 / Valerie Bolden-Barrett

Business leaders are stepping up their corporate social responsibility (CSR) efforts to take a stand on social issues, said a new report from Deloitte and Forbes Insights. According to "The rise of the socially responsible business," a Deloitte Global survey, organizations will team up in 2019 to address computer literacy, education, climate change, income inequality and other social issues — pushing CSR to the forefront of their C-suite agendas and integrating it with financially-focused business strategies. In a survey of 350 business leaders, Deloitte found that 93% of the respondents think their companies are "stewards of society," and 95% plan to take greater stances on societal issues in 2019, committing significant resources to CSR initiatives. Most of the respondents (59%) said they currently devote between 1% and 5% of their revenues to socially responsible programs, while two-thirds said they increased CSR funding during the past two years.