The recession decimated corporate social responsibility budgets last year, according to a survey of U.K. businesses. But that's OK, according to Stephen Green, chairman of U.K. bank HSBC. "There has been a tendency to compartmentalize so-called corporate social responsibility activities as an adjunct to the mainstream business activities," he says. Green suggests replacing those activities and focusing instead on "corporate sustainability ... the raison d'être of the company itself."
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