Government incentives for CSR

“The role of the government with regards to motivating CSR can be a complicated one, but history tells of what happens when government adopts a laissez faire approach to CSR. Just as a reminder - one of the major thrusts towards greater CSR came about in response to corporate irresponsibility. Corporate mishaps or the intentional and unintentional wrongdoings coupled with greater public awareness were the catalyst for the trend to start formalizing and structuring CSR. In the case of Trinidad and Tobago, one approach the government may adopt is to devise ways as to how to best motivate corporations toward CSR. Motivation here suggests that positive CSR is rewarded, and negative CSR faces sanctions of some sort even if the sanction solely is to make such happenings transparent for greater public awareness.”