2020 represented solidarity amongst chaos. The onset of COVID-19 taught the world about the impact of uncertainty, the need for humanity, and the want to prepare for the future. Although promising vaccine candidates have reduced the pandemic’s fear, it highlights the importance of corporate giants across industries as they aim to implement robust and reliable methods to put an end to the global catastrophe. That said, here are three projected CSR trends in 2021 that might be followed by premier organizations:-
The scarcity of resources in rural and semi-urban areas secured the spotlight during the pandemic. Travel, sanitation, groceries, and financial help surfaced at the areas that could use development projects set up by corporates as well as unicorn start-ups. Users expect their favorite brands to showcase active participation in resolving local resource issues such as setting up community funds and projects. Simultaneously, this serves as a strategic investment to contribute in building stronger cultural groups as well as bumping the customer base in dedicated geographical areas.
Ever since climate change entered the international discussion stage, companies have been focusing on employing environment-friendly methods. Sustainable development projects built on revenue-generation models are expected to bring value to society as well as business. The idea is to maintain a ‘conscious’ brand image through increasing investment and initiatives in various aspects such as anti-plastic production, modern waste recycling methods, awareness through social media handles, Plant-a-tree initiatives, etc.
Pharmaceutical, real estate, and insurance companies along with NGOs are expected to dedicate a major portion of CSR towards healthcare. Medical cover for the vulnerable elders and children, free distribution of basic medical kits, immunity awareness camps, etc, could strengthen the healthcare framework in rural areas. Building community medical centers and hospitals would be a major move in infrastructural improvement. Furthermore, the government can facilitate these projects with finances and supervision via Public-Private Partnerships (PPP) or Memorandum of Understanding (MOU).
It will not be an understatement to say that the combined implementation of these CSR trends in 2021 holds the potential to establish a well-prepared world.