I chose two companies and analyzed them to explain why it is considered either “good” or “bad”.
–Starbucks Corporation: This Company is considered as “good”, because Starbucks has three goals to be achieved by 2015. First off, Starbucks plans for 100% ethical sourcing by 2015. It is currently at 75%. Starbucks means to be responsibly grown, ethically traded coffee to help create a better future for farmers and their communities. Second of all, their goal is that 100% of its coffee cups will become reusable or recyclable by 2015. Also, 100% of stores will be able to recycle its paper products. Starbucks offers a 10% discount to people who bring in their own reusable mug for their coffee these days. They have also reduced the size of paper napkins and store garbage bags; have reduced their water consumption as well. Last but not least, Starbucks is also committed to sponsoring 1 million community service hours a year by 2015. This includes helping rebuild New Orleans, providing earthquake relief assistance in China and activities in Mexico, Spain, Thailand, UK, as well as Ireland. Even though Starbucks Corporation is not perfect, one can perceive that Starbucks coffee has been growing socially responsible.
–Veet Corporation: This Company is considered “bad”, because of the fact that they did not manufacture animal-tested products and brands that are owned by companies that have not yet adopted a permanent “no animal testing” policy. One should encourage Veet Corporation to announce a permanent ban. Furthermore, they have not eliminated animal testing from all its cosmetics product lines. They also make products that are required by law to be tested on animals. However, they are not attempted to be socially responsible. Therefore, Veet is regarded as “bad” Company since it conducts animal tests (of personal-care and household products) that are not required by law.
*Question: Do you think that investing in socially responsible companies will contribute to a better environment?
-I think that investing in socially responsible companies will contribute to a better environment. The reason is because the companies can promote better good for the society and the environment. By doing so, the companies will seek to maximize both financial return and social good. Moreover, the companies should favor corporate practices that promote environmental stewardship, consumer protection, human rights, and diversity.