By paying an ideological and financial cover charge to social and environmental causes, CEOs gain admittance to Club CSR and enjoy a host of membership privileges. One major club benefit is protection from advocacy actions such as protests and boycotts wielded by anti-business activists.
Membership requires the creation of a public relations campaign or business strategy that serves the CSR agenda. By feeding into politically correct themes, these campaigns frequently distract the media and shareholders from failed business practices and poor stock performance. Being viewed as socially responsible buys great latitude for struggling CEOs. No longer considered selfish capitalists, these CEOs can finally gain access to elite social circles.
Global warming, the Holy Grail of CSR topics, provides the greatest cover for a distressed CEO. For example, under the leadership of John Browne, the giant energy company BP has enjoyed a free ride from activist attacks because of the company’s aggressive advertising campaign promoting global warming concerns, carbon footprints and alternative energy.
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