The Economy, Stupid Is corporate social responsibility dead?
Nov 27, 2025
Narelle Hooper, a corporate advisor and ethics board member, and Luke Hilbath, a sustainability consultant, dive into the crisis of corporate social responsibility. They debate whether companies should pursue profit at any cost, highlighting the disconnect between legal action and social licensing. The duo explores the pitfalls of ESG becoming mere virtue signaling and examines failures in sectors like childcare. They advocate for long-term incentives and call for a shift toward genuine stakeholder engagement in business to foster a more responsible future.
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Profit Alone Is Short‑Sighted
- Milton Friedman's view that a firm's sole duty is profit dominated corporate thought from the 1970s.
- Narelle Hooper and Luke Hilbath argue long-term shareholder value requires attention to social and environmental factors.
How CSR Became ESG
- CSR evolved into the triple bottom line idea: people, planet and profit.
- ESG formalised that framing in 2004 as environmental, social and governance considerations.
ESG Risks Becoming Window Dressing
- ESG risks becoming virtue signalling and mere compliance rather than genuine change.
- Narelle Hooper warns companies often adopt language without meaningful stakeholder orientation.