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The Call for Global Responsible Inter-Generational Leadership: The Quest of an Integration of Inter-Generational Equity in Corporate Social Responsibility (CSR) Models
Abstract
Global systemic risks of climate change, over-indebtedness in the aftermath of the 2008/09 World Financial Crisis and the need for pension reform in the wake of an aging Western world population, currently raise attention for inter-generational fairness. Pressing social dilemmas beyond the control of singular nation states call for corporate social activities to back governmental regulation in crisis mitigation. The following chapter therefore promotes the idea of inter-generational equity in the corporate world to find an inclusive solution comprised by the public and private sectors. In the given literature on global responsible leadership in the corporate sector and contemporary Corporate Social Responsibility (CSR) models, inter-generational equity appears to have been neglected. While the notion of sustainability has been integrated in CSR models, inter-generational equity has hardly been touched on as for being a more legal case for codifying the triple bottom line. Advocating for integrating inter-generational equity concerns in CSR models in academia and practice holds untapped advantages of economically influential corporate entities, corporate adaptability and independence from voting cycles. Integrating a temporal dimension in contemporary CSR helps imbuing a longer-term perspective into the corporate world alongside advancing tax ethics and global governance crises prevention. Practical implications for the financing of an inter-generational harmonious solution on climate change burden sharing are proposed. Future research avenues comprise of investigating situational factors influencing inter-generational leadership in the international arena in order to advance the idea of corporations tackling the most pressing contemporary challenges of mankind.
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