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New research on corporate social responsibility and impact from Harvard Business School faculty on issues including measuring impact, reporting results, and community involvement.
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As Climate Fears Mount, More Investors Turn to 'ESG' Funds Despite Few Rules

by Rachel Layne

Regulations and ratings remain murky, but that's not deterring climate-conscious investors from paying more for funds with an ESG label. Research by Mark Egan and Malcolm Baker sizes up the premium these funds command. Is it time for more standards in impact investing?

ESG Activists Met the Moment at ExxonMobil, But Did They Succeed?

by Lane Lambert

Engine No. 1, a small hedge fund on a mission to confront climate change, managed to do the impossible: Get dissident members on ExxonMobil's board. But lasting social impact has proved more elusive. Case studies by Mark Kramer, Shawn Cole, and Vikram Gandhi look at the complexities of shareholder activism.

It’s Not All About Pay: College Grads Want Jobs That ‘Change the World’

by Rachel Layne

Many college graduates will accept lower salaries for roles that have the potential to give back to society, says research by Letian Zhang. Could trading pay for altruism help shrink the income gap?

Nestlé’s KitKat Diplomacy: Neutrality vs. Shared Value

Re: Geoffrey G. Jones

In February 2022, Russia invaded Ukraine, and multinational companies began pulling out of Russia, in response. At Switzerland-based Nestlé, chief executive Mark Schneider had a difficult decision to make. Nestlé had a long tradition of neutrality that enabled it to operate in countries regardless of their political systems and human rights policies. But more recently the company had embraced Michael Porter’s “shared value” paradigm, which argues that companies have a responsibility to improve the business community and the health of their communities. What should Schneider do? Professor Geoffrey Jones discusses the viability of the shared value concept and the social responsibility of transnational corporations today in the case, “Nestlé, Shared Value and Kit Kat Diplomacy.”

Are Companies Actually Greener—or Are They All Talk?

by Rachel Layne

More companies than ever use ESG reports to showcase their social consciousness. But are these disclosures meaningful or just marketing? Research by Ethan Rouen delves into the murky world of voluntary reporting and offers advice for investors.

The War in Ukraine and Nestlé’s Moral Dilemma: Stay or Leave Russia?

by Michael Blanding

Nestlé had to choose whether to leave Russia in protest and potentially deprive civilians of essential goods, such as baby formula, or stay and face global outrage. A case study by Nien-hê Hsieh explores this complex decision and offers advice for leaders weighing fraught questions.

COP27: What Can Business Leaders Do to Fight Climate Change Now?

by Lynn Schenk and Danielle Kost

The US government plans to spend $370 billion to cut greenhouse gases and expand renewable energy—its biggest investment yet. In the wake of COP27, we asked Harvard Business School faculty members how executives could seize this moment.

People Trust Business, But Expect CEOs to Drive Social Change

by Scott Van Voorhis

Companies should do more to confront climate change, labor market shifts, and racism, according to a survey of 14,000 people in 14 countries by the Institute for the Study of Business in Global Society and the Edelman Trust Institute. Is it time for more business leaders to step up?

Larry Fink at BlackRock: Linking Purpose to Profit

Re: George Serafeim

In 2014, Larry Fink started writing letters to the leaders of some of the largest publicly listed companies, urging them to consider the importance of environmental, social, and governance (ESG) issues. Fink is the chairman and CEO of BlackRock, one of the largest asset management houses in the world. The firm’s success was rooted in its cost-effective, passive investment products that rely more on tracking indices and funds. But Fink wanted his firm to engage with the companies in which they invest and hold them accountable for their social and environmental impacts. What role should investors play in urging business leaders to take environmental, social, and governance issues more seriously and enforcing compliance? Harvard Business School professor George Serafeim discusses the merits of Fink’s approach, the importance of corporate investments in ESG themes, and how to lead a company driven by purpose and profit in his case, “BlackRock: Linking Purpose to Profit,” and his new book Purpose and Profit: How Business Can Lift Up The World.

6 Strategies for Building Socially Responsible—and Profitable—Companies

by Lane Lambert

A new generation of business leaders is finding innovative and profitable ways to bring about positive change in the world. In the book Purpose and Profit, George Serafeim offers a roadmap for people at every career stage who seek to align their professional aspirations with their personal values.

Scaling a Fintech Startup for the Greater Good

Re: Emily Williams

Esusu launched in 2018 with a rotational savings product and continued growing their fintech startup in late 2019 with Esusu Rent, a rent reporting tool that enables renters to improve their credit scores. In March 2020, co-founders Abbey Wemimo and Samir Goel were working to determine how best to scale Esusu to advance their mission of promoting financial inclusion in the US. Harvard Business School Assistant Professor Emily Williams discusses how the two co-founders decided how to allocate resources and scale their business in the case, “Esusu: Solving Homelessness Backwards.”

The Moral Enterprise: How Two Companies Profit with Purpose

by Avery Forman

Despite polarized attitudes, Rebecca Henderson argues that it's the perfect time for companies to reset their moral compass. In an essay from the book A Political Economy of Justice, she explores the social efforts of Cadbury and Unilever.

Apple vs. Feds: Is iPhone Privacy a Basic Human Right?

by Avery Forman

Leaders today must be ready to take a stand on thorny social and political issues. A case study by Nien-hê Hsieh and Henry McGee examines how Apple CEO Tim Cook turned calls for data access into a rallying cry for privacy, and the complexities that followed.

Are Banks the ‘Bad Guys’? Overdraft Fees Are Crushing Low-Income Customers

by Rachel Layne

Payday lenders have been accused of exploiting poor consumers, but traditional banks exact a similar toll through overdraft fees. Research by Marco Di Maggio and Emily Williams shows how seemingly innocuous checking accounts can become vehicles for financial distress.

Giving Back: Consumers Care More About How Companies Donate Than How Much

by Pamela Reynolds

When it comes to corporate donations for brand enhancement, bigger isn't necessarily better. Research from Elizabeth Keenan and Leslie John offers new insights for companies trying to win the hearts of socially conscious consumers. Open for comment; 0 Comments.

How Footwear Startup Allbirds is Decarbonizing Fashion

Re: Michael W. Toffel

In 2021, the footwear startup Allbirds was extending its product range into apparel and expanding beyond its online store to open more retail stores around the world. It was also freely sharing its know-how and material innovations with its competitors to try to scale its efforts to decarbonize fashion, by substituting natural materials for conventional petroleum-based materials and leather. But the company also had to find ways to remain differentiated, based on design and comfort. Professor Mike Toffel and Allbirds co-founder and CEO Joey Zwillinger discuss the growing environmental impact of the fashion industry and how the company managed the tension between advancing its environmental mission and staying ahead of competitors in the case, Allbirds: Decarbonizing Fashion. Open for comment; 0 Comments.

What's the Role of Business in Confronting Climate Change?

by Lynn Schenk and Dina Gerdeman

COP26 shined a light on the complexities of addressing the climate crisis. We asked Harvard Business School faculty members to discuss how business leaders can help spur change and what opportunities might emerge. Open for comment; 0 Comments.

5 Principles for Scaling Change from IBM’s High School Innovation

by Kristen Senz

P-TECH has bolstered graduation rates for students of color while creating a new tech hiring pipeline. Rosabeth Moss Kanter and program architect Stanley Litow discuss the social impact lessons for other organizations. Open for comment; 0 Comments.

What Does an ESG Score Really Say About a Company?

by Kristen Senz

A key gauge in the $30 trillion sustainable investment market provides a murky picture of corporate social responsibility. Research by Anywhere Sikochi and George Serafeim probes the underlying factors. Open for comment; 0 Comments.

Accounting for Product Impact in the Telecommunications Industry

by George Serafeim and Katie Trinh

A product impact framework is a systematic methodology applicable to different companies across a wide range of industries. This study examines the telecommunications industry, estimating the value of a product’s reach, accessibility, quality, optionality, environmental use emissions, and end-of-life recyclability.