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Article

22 Oct 2001

Author:
Kate Burgess, in Responsible business in the global economy: A Financial Times Guide

Power of the individual

More and more companies recognise that being seen to be responsible is likely to be good for sales, good for employee morale and productivity, and good for share prices...Among the biggest driving forces behind companies adopting these environmental and socially responsible practices is the individual, whether it is the employee, the consumer who will boycott the goods of companies they deem to have behaved irresponsibly, or shareholders who may also be employees and customers. These are the so-called stakeholders. David Rice, director of BP's policy unit, reckons that one of BP's biggest incentives to corporate responsibility is its employees. "All employees want to feel good about what they do, whether it is human rights or climate change," he says.