Corporate social responsibility (CSR) in the wake of the COVID-19 pandemic was the overarching theme of the 明星八卦 Research Seminars series organised by the Research Centre for Law, Economics and Finance (RC LEF). Presenters from academic departments and NGOs in Canada, Chile, the Netherlands, UK and the USA talked about challenges and opportunities on the way to recovery from the pandemic. One example is transformation of the existing business model.
During lockdowns, many businesses adapted by moving to remote work and switching to local suppliers, thus reducing travel and carbon footprint. How much of this will be taken to the COVID-free future? Can sustainable, socially responsible and environmentally friendly business models be also better for the business goal of maximising profits? Another example is philanthropy. During the pandemic, many museums closed their doors or severely restricted admissions, being further hit by the diversion of government funding to health and social care.
Traditional support from large companies became even more important. Is a company acting altruistically if it financially supports a museum? What if the company puts its name on an exhibition title in that museum? What if the company receives part of the ticket sales? Does it matter whether it is a large multinational or a group of small local businesses? Will people be more or less likely to come to that museum? These and other issues were discussed at the seminars organised and led by Stelios Andreadakis (Law School), Nigar Hashimzade (Economics and Finance), and Ragimat Rashkueva (Law School alumna).