Monday, January 08, 2007

Brands: The social capitalist in Virgin

Last september Richard Branson announced a $ investment plan for the next 10 years in biofuel production, research and development, and other investments in renewable-energy production. This is a very nice example of truly strategic CSR.

One of the projects Virgin is working on, is the Virgin Atlantic Global Flyer. It's an all carbon-composite jet and Steve Fosset already flew it around the world while consuming less fuel per hour than an SUV.

Another of Branson's projects is the Virgin Galactic, which will offer space tours. Space is the answer to necessary future travel without the atmospheric impact.

Branson's vision on CSR is this: "By making green investment a motive for success - rather than a charitable adjunct to companies' existence - humanity will dramatically increae the chance of its survival." It bet Michael Porter couldn't agree more.

Source: Newsweek (Dec 2006 - Feb 2007)

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