The Asian Development Bank believes that firms with an “inclusive business” approach can offer much more than widely-practiced CSR activities — two different approaches that, if well managed, could really make a difference in achieving development goals, with the former anchoring the latter.
“Why is inclusive business an important factor in poverty reduction? Before it’s only perceived as the government’s responsibility, but now it’s also the work of the private sector,” Armin Bauer, principal economist of the bank’s regional and sustainable development department, told Devex. “Inclusive business is not [just] about corporate social responsibility or about giving a scholarship here and there to a poor person. That’s not what we’re talking about.”
Via Markus Dietrich