Airbnb is the latest US company to pledge it will serve society. Has the corporate world grown a conscience?
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The bruising battle was eventually won by critics like Mr Klein, who said that Airbnb, if left unchecked, would drive up rents and turn his neighbourhood into a cheaper springboard into New York City, just across the river. Among other steps, the firm said it would put $150m to safety measures, host a"stakeholder" day to hear from the public, and offer $100m to local initiatives over the next 10 years.
But while there have been plenty of calls for reform since the 2008 financial crisis, this time companies seem to have taken their critics to heart.Last year, 181 firms signed onto a statement by the influential business lobby, the Business Roundtable, affirming that corporate responsibilities extend beyond shareholders.
In recent years, firms such as Amazon, Microsoft and Goldman Sachs have announced a blitz of programmes aimed at improving their environmental footprint, bettering worker benefits, and boosting diversity among staff. "We're not talking just abstractly about these important issues," he says."We're actually saying, here's exactly how we hold ourselves accountable."The development of metrics is important, says Sarah Kaplan, professor at the University of Toronto's Rotman School of Management.
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