The Role of CSR in the Transition to a Green Economy

Abstract

The green economy is a new, more radical direction in creating the harmonious, balanced social and environmental development of countries. It is formulated as an alternative approach to the existing model of the economy. The concept of the green economy has gained importance after the multiple crises in 2008. The crisis made us aware that “business as usual” is not possible anymore. The green economy is an alternative paradigm that offers the promise of growth while protecting the earth’s ecosystems and, in turn, contributing to poverty alleviation. The purpose of this study is to emphasise the role of corporate social responsibility (CSR) in the transition to green economy. The main thesis can be expressed as follows: current economic model and traditional approach to CSR have failed. The present scope and methods used in the implementation of corporate social responsibility in business are insufficient according to radical green economy transition. The green economy needs new business models and a new concept of CSR called radical CSR or CSR 2.0. The first section of this paper presents the most popular approaches to the green economy at hand, as reported in the professional literature. Section two presents characteristics of the various actors involved in the anticipated transformation of the economy specially the changing roles and frameworks of company operations associated with the notion of corporate social responsibility and its role in the implementation of the green economy concept. The third section compares and discusses common values and priorities of radical CSR and radical green economy.