Bottom Line: Many corporations reduced their investments in sustainable initiatives during the recent recession — but some relatively high performing firms actually increased their long-term commitment to CSR.
The 2008–09 global recession was devastating for many businesses. Consider, for example, the Intel Corporation. In 2008, the firm lost 42 percent of its stock price and 90 percent of its net income. Nevertheless, shortly before revealing its fourth-quarter losses in 2008, Intel announced it was pledging US$100 million to global education programs, and buying 1.3 billion kilowatt-hours of renewable-energy certificates to support less-developed nations.
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